Pete Pyhrr pioneered the use of budgets that required managers to justify spending every year, a technique that reached the White House in the 1970s—then almost disappeared. Now, Heinz, Kraft and other giants are adopting it.
Smaller companies focused on natural and organic foods are feasting on shifts in tastes among consumers distrustful of established food giants’ products and ingredients. And big retailers are egging them on.
Pemex has landed its first major investment since an energy overhaul opened the sector to private players. BlackRock and First Reserve will put up about $900 million for a 45% stake in a pipeline project.