Amanda Gomez joined Reuters Breakingviews in January 2018. She previously held internships at CNN International and Argentina's Clarín newspaper. She has also worked as a business journalist at TheStreet.com covering the stock market and written about the food industry at trade publication The Food Institute. She completed her master’s degree at Columbia Journalism School in 2017 and has a bachelor’s in journalism and media studies from Rutgers University.
The ketchup maker’s earnings plunged 51% in the first half after $1.2 bln in impairment charges. Organic net sales have been falling since the company’s 2015 merger. New chief Miguel Patricio promises a strategic review by 2020. A 14% stock drop suggests investors aren’t waiting.
Sales at the $37 bln Velveeta maker have flatlined since its 2015 merger, an SEC accounting probe has delayed results for months and a fresh brand write-down may be looming. CEO Miguel Patricio needs to prove he’s more than another 3G cost-cutter with no flair for growth.
Governor Ricardo Rossello is resigning after mass protests over crude chat messages and a corruption probe. Political turmoil has stymied efforts to restructure the U.S. territory’s debt and strengthen fiscal oversight. The next leader can’t afford to waste Puerto Rico’s crisis.