On Tuesday, Consumer stocks were mixed with shares of consumer staples companies in the S&P 500 sinking around 0.4% while shares of consumer discretionary firms in the S&P 500 were 0.4% higher.
Among Consumer stocks, Shares of Apple Inc. (NASDAQ:AAPL), lost -0.45% to $127.03.
Apple Inc. designs, manufactures, and markets mobile communication and media devices, personal computers, watches, and portable digital music players worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
Shares of American International Group, Inc. (NYSE:AIG), inclined 1.18% to $63.32, during its last trading session.
American International Group, declared that Annabelle Bexiga has been named Commercial Insurance Business Information Officer (BIO), effective August 2015. Ms. Bexiga will report to Phil Fasano, Chief Information Officer, and will also have a matrix reporting line to John Doyle, Chief Executive Officer, Commercial Insurance. She will be based in New York.
Ms. Bexiga will work closely with the Commercial Insurance organization to develop a world-class technology function that drives business growth, process excellence, and innovation. She joins AIG from TIAA-CREF, where she was Chief Information Officer (CIO) and led a multi-year IT transformation program during the organization’s evolution into a full-scale financial services provider.
American International Group, Inc. provides insurance products and services for commercial, institutional, and individual customers in the United States, the Asia Pacific, and internationally. The company’s Commercial Insurance segment offers general liability, commercial automobile liability, workers’ compensation, excess casualty, and crisis administration causality insurance products; commercial, industrial, and energy-related property insurance products; aerospace, environmental, political risk, trade credit, surety, and marine insurance products, in addition to various insurance products for small and medium sized enterprises; and professional liability insurance products for a range of businesses and risks.
Finally, Starbucks Corporation (NASDAQ:SBUX), ended its last trade with 0.40% gain, and closed at $54.12.
Starbucks Coffee Company (NASDAQ:SBUX) declared an additional commitment of $30 million as part of its Global Farmer Fund program, one aspect of the company’s comprehensive ethical sourcing initiatives that assist ensure the sustainability of the specialty coffee industry. This investment is the continuation of an initial $20 million commitment made in 2008, and distributed in partnership with leading lending organizations such as Root Capital and the Fairtrade Access Fund. To date, this financing has influenced more than 62 cooperatives in 8 countries benefiting more than 40,000 farmers.
Starbucks first farmer loan investment was in 2000 with Root Capital (formerly known as Ecologic Enterprise Venture) for a project in the El Triunfo Biosphere Reserve in Chiapas, Mexico. This work assisted establish a revolving line of credit focused largely on short-term financing for farmer cooperatives. Recently, farmer financing has evolved to comprise medium- and long-term investments in order to assist provide the necessary stability to manage climate variables by supporting agronomy, restoration and infrastructure improvements. This work directly influences coffee quality, sustainability and overall profitability for the entire specialty coffee industry.
The $50 million Global Farmer Fund aligns to Starbucks global sourcing strategy which comprises purchasing coffee from more than 30 countries worldwide and offered to customers in single origin, blend and small-lot programs and beverages. Later this week, the first allocation from the Global Farmer Fund will be declared as part of a collaborative effort led by the IFC and other organizations.
Starbucks Corporation operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; Europe, Middle East, and Africa; China/Asia Pacific; and Channel Development.
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