Business news briefs
East India Cafe
ready to open
East India CafÃ© is scheduled to open on March 13 in the former Pagoda restaurant at 26 E St. in the Avenues neighborhood of Salt Lake City. The cafÃ©, inspired by the original East India Trading Co. that set sail in search of silk and spices, will feature mahogany accents set in the 1920s British-India era. An open house with tea and snacks will be held from 3 p.m. to 6 p.m. on March 13. Dinner service will be available.
gets new name
Integrated Marketing Group, Salt Lake City, has changed its name to BrandHive. Owners Jeff Hilton and Matt Aller said the rebranding effort is a reflection of the agency's renewed dedication to the collaboration among its staff as they seek to produce results for their clients, which include natural product companies.
fell in February
McDonald's said its new Fish McBites failed to draw enough customers to grow U.S. sales in February. The company said a key sales figure fell 3.3 percent in the U.S. last month. When excluding the impact of an extra day in February of last year, the company said sales were flat. The figure rose 11.1 percent a year ago.
U.S. wholesalers boosted their stockpiles by 1.2 percent in January, the largest amount in 13 months even though their sales dropped 0.8 percent. The rise in stockpiles was led by a 3.4 percent gain in lumber inventories, a sign that building supply stores are expecting increased home construction. Increased stockpiling supports economic growth by triggering greater factory production.
exec to leave
Walmart said Leslie Dach, who played a pivotal role in reinventing and improving the image of the world's largest retailer in the face of mounting attacks by labor groups, is leaving the company in June. Dach was named executive vice president of corporate affairs in August 2006 as anti-Walmart attacks reached a feverish pitch on all fronts.
OKs $3.7B sale
Industrial pump maker Gardner Denver agreed to sell itself to Kohlberg Kravis Roberts & Co. for about $3.7 billion. The investment firm will acquire the company for $76 per share, a 39 percent premium over Gardner's closing stock price on Oct. 24, the day before it announced it was for sale.
Google will pay $7 million to settle a multistate probe that looked into its collection of emails, passwords and other data from unprotected home Wi-Fi networks throughout the country several years ago. The case dates back to 2010 when it revealed company cars taking street-level photos also collected the personal information.
See more about comments here.