Business Briefs – November 21, 2016

Sabra Recalls Hummus Amid Listeria Contamination Fears

WASHINGTON (AP) – Some varieties of Sabra hummus are being recalled amid concerns over possible listeria contamination.

The Food and Drug Administration says the voluntary recall announced by Sabra Dipping Co. includes hummus products with a “best before” date of Jan. 23, 2017, or earlier. The products were sent to retailers in the U.S. and Canada.

The FDA says listeria was identified at the manufacturing facility, but not in the finished product. Sabra says no illnesses have been reported.

Wal-Mart Kicks Off Cyber Monday on Friday

NEW YORK (AP) – Cyber Monday is starting earlier and earlier.

Wal-Mart Stores Inc. said Monday that it’s kicking off its so-called Cyber Monday deals at 12:01 a.m. EST Friday for the first time ever as it aims to grab customers ahead of its competitors. Last year, the world’s largest retailer pulled up the Cyber Monday deals to the Sunday evening after Thanksgiving for the first time.

Cyber Monday, which falls on the Monday after Thanksgiving, is typically the year’s busiest day for online shopping.

ComScore predicts online spending on Cyber Monday will jump to $3.5 billion from $3.12 billion last year.

Tyson Foods Says CEO Will Step Down at End of Year

SPRINGDALE, Ark. (AP) – Tyson Foods said Monday that CEO Donnie Smith will step down at the end of the year and be replaced by company president Tom Hayes.

The company also reported disappointing earnings results for the fourth quarter and weak outlook for the year. Its shares fell in trading Monday.

Smith, who is 56, has been CEO of Tyson since 2009 and has worked for the company for 36 years.

Fidelity Investments’ Ned Johnson to Retire

NEW YORK (AP) – Fidelity Investment’s long-time chairman Edward “Ned” Johnson is announcing his retirement, completing the transfer of the company to his daughter Abigail Johnson.

Abigail Johnson will take over as chairwoman. She is already serving as Fidelity’s CEO, and will serve in both positions.

Ned Johnson became CEO of Fidelity in the mid-1970s and led the Boston company through a period of massive growth fueled in part by the growing popularity of 401(k)s and other retirement accounts. The growth made Ned and Abigail Johnson both billionaires, and made Fidelity one of the largest asset managers in the country.

Experts Recommend Reforms To Panama’s Financial Sector

PANAMA CITY (AP) – A panel of independent experts says Panama must improve its information sharing with foreign nations and implement internal regulations to close “gaps” in the country’s financial services sector and alter its image as a paradise for tax evaders.

President Juan Carlos Varela formed the panel following the April leak of a huge trove of documents from a Panamanian law firm detailing offshore financial dealings. Many of the so-called Panama Papers documents detailed how world leaders, celebrities and businesses used tax shelters to hide money.

The panel’s report was made public Monday.