Financial News

MINNEAPOLIS — Target has announced the names of 50 schools that were selected to receive a $100,000 grant to purchase much-needed resources and improve their learning environments. The $5 million donation from Target to K through 12 schools in 31 states across the country is part of the company’s commitment to education, which includes plans to give $1 billion for education by the end of 2015.

NEW YORK — The Deloitte Consumer Spending Index slightly dropped in December despite small improvements in 3-out-of-4 components.

The index — which is comprised of tax burden, initial unemployment claims, real wages and real home prices — fell to 1.86 from a reading of 1.93 the previous month. Because of this drop, the ability for consumers to continue to spend at the rates seen in 2011 may be in question, Deloitte said.

PURCHASE, N.Y. — It seems that certain beverage brands owned by PepsiCo have gained a strong presence in the market and have greatly benefited their parent company.

PepsiCo announced that Diet Mountain Dew, Brisk and Starbucks ready-to-drink beverages each have garnered more than $1 billion in annual retail sales, expanding the company's portfolio of billion-dollar brands to 22. PepsiCo said it has doubled the size of its billion-dollar brand portfolio since 2000, adding five new billion-dollar brands in the past five years.

LOS ANGELES — Kroger banners Ralphs and Food 4 Less are raising funds to support children's hospitals.

The chains' children's hospital fundraising campaign will run from Jan. 29 to May 19. Ralphs will support children's hospitals in Southern California, while Food 4 Less will raise funds for children's hospitals in Southern California, southern Nevada and the greater Chicago area. The supermarket chain's Foods Co Division also is collecting donations for children's hospitals in central and northern California.

THOUSAND OAKS, Calif. — Drug maker Amgen is acquiring a Rockville, Md.-based company developing therapies for cancer, the companies said Thursday.

Amgen announced plans to buy Micromet for $1.16 billion, or $11 per share. Micromet, originally founded in Germany, is developing blinatumomab, currently in phase-2 trials as a treatment for acute lymphoblastic leukemia and non-Hodgkin's lymphoma. The acquisition also will include the company's research and development center in Munich.

Portable power is the growth area of the battery category. While sales of alkaline batteries remain challenged, rechargeable batteries and chargers are becoming a bigger part of the category.

“This year, we expect overall revenue for primary alkaline batteries to decline about 3% as fierce competition among manufacturers continues to pressure pricing for round cells,” said Tim Doyle, a Consumer Electronics Association spokesman.

When buying bath and shower products, shoppers tend to choose products based mainly on scent and moisturization, according to a Mintel survey. Furthermore, men are increasingly opting for body wash in lieu of bar soap.

According to SymphonyIRI Group data, sales of body wash rose about 7% at food, drug and mass (excluding Walmart) for the 52 weeks ended Nov. 27. Taking the top spot, according to the data: Axe body wash for men.

Gum sales might not be soaring at the rate they once were, but industry experts say there’s still steam left in the category. Functional gums may become a bigger part of the category. Wrigley and Trident both introduced gums with benefits. Wrigley’s relaunched Extra Ice brand is positioned as having oral benefits, and Cadbury’s Trident Vitality contains vitamin C. Kraft also launched a Stride flavor, Whitemint, featuring Olympic snowboarder Shaun White.