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Kraft Heinz says it is cutting about 2,500 jobs as part of its plan to slash costs after the food companies combined. Spokesman Michael Mullen says affected workers are in the U.S. and Canada and were to be notified in person. About 700 of the cuts were coming in Northfield, Illinois, where Kraft had been headquartered. The company would not specify where other cuts were taking place but said that all the jobs were salaried. It said none of the job cuts involved factory workers. The Kraft Heinz Co. said it had a total of around 46,600 employees before the...

Warren Buffett may be most famous for the billions of dollars he has made from investing, but he is also well known as a cheerleader for the United States. The Oracle of Omaha routinely exhorts investors to put their money in America, “the mother lode of opportunity,” as he wrote in his annual letter this year. So Buffett’s participation in fast-food chain Burger King Worldwide Inc.’s purchase of coffee and doughnut chain Tim Hortons Inc.—complete with relocation of Burger King’s domicile to Canada—might at first blush raise questions about his patriotism. Investors and tax experts say Miami-based Burger King’s move...

Speaking to CNBC in May on the subject of tax inversion deals, Warren Buffett said, “it does get a little annoying when we see other people paying far lower tax rates while engaging in the same sorts of businesses that we engage in.” Now Buffett appears to have decided to get in on the game: The Oracle of Omaha is extending financing to Burger King for its planned takeover of Canadian coffee-and-donuts chain Tim Hortons , the Wall Street Journal reported Monday evening, citing sources familiar with the deal. Buffett’s Berkshire Hathaway will provide roughly 25% of the financing, the...

Some Burger King customers are finding it hard to swallow that the home of the Whopper could move to Canada. Investors seemed to welcome the announcement by Burger King late Sunday that it was in talks to buy Canadian coffee-and-doughnut chain Tim Hortons and create the world’s third-largest fast-food restaurant company. The news pushed shares of both companies up more than 20 percent. But customers were already voicing their discontent with the 60-year-old hamburger chain because of its plans to relocate its corporate headquarters from Miami to Canada in a deal that could lower its taxes. …

Sen. Sherrod Brown (D-Ohio) is urging consumers to boycott Burger King over reports that the fast food chain is eyeing a tax-cutting move to Canada. Brown, an outspoken corporate critic, said people hankering for a burger should head to Wendy’s or White Castle, two Ohio-based chains that aren’t looking to shrink their tax bill via a so-called “corporate inversion.” “Burger King’s decision to abandon the United States means consumers should turn to Wendy’s Old Fashioned Hamburgers or White Castle sliders,” he said in a statement. “Burger King has always said ‘Have it Your Way’; well my way is to support...

Comrades, there are wreckers in our midst. The industrialist reactionaries at Burger King have declared their intention to abandon the struggle and join the ranks of the enemy in rightist Canada. That’s right. The traitorous corporation Burger King plans to take advantage of the fact that America’s English-speaking neighbor to the north maintains the second-lowest corporate tax rate of any G-7 nation. How dare they? “The iconic American fast-food brand is in talks to buy coffee-and-donuts chain Tim Hortons and move its headquarters to Canada,” Forbes reported. If concluded, this deal would create the world’s third-largest restaurant company and allow...

U.S. federal prosecutors have charged two Brazilian nationals with insider trading in connection with 3G Capital’s $3.26 billion acquisition of Burger King in 2010. The complaint announced Monday alleges that Waldyr Prado, a 43-year-old former Wells Fargo financial adviser, and one of his brokerage clients, Igor Cornelsen, illegally profited from insider information about the Burger King deal after Prado learned about it from another client who had invested in private-equity firm 3G. …

Billionaire investor Warren Buffett is dipping into the ketchup business as part of $23.3 billion deal to buy the Heinz ketchup company. H.J. Heinz Co. says it’s the largest deal ever in the food industry. The company, based in Pittsburgh, also makes Classico spaghetti sauces, Ore-Ida potatoes and Smart Ones frozen meals. Buffett's Berkshire Hathaway and its partner on the deal—3G Capital, the investment firm that bought Burger King in 2010—say Heinz will remain headquartered in Pittsburgh. Heinz CEO William Johnson said in a statement that the company “will have an opportunity to drive further growth” as a private enterprise....

(Reuters) - Warren Buffett's Berkshire Hathaway and private equity firm 3G Capital will buy ketchup and baby food maker H.J. Heinz Co for $23.2 billion in cash, a deal that combines 3G's ambitions in the food industry with Buffett's hunt for growth. Including debt assumption, Heinz valued the transaction, which it called the largest in its industry's history, at $28 billion. Berkshire and 3G will pay $72.50 per share, a 19 percent premium to the stock's previous all-time high.