Tyson's chief hints at tax law's effect
Tyson Foods Inc. hinted last week that it will soon reveal the effect the recently signed U.S. tax bill will have on the company. Lower corporate tax rates have created a windfall for businesses nationwide.
Tom Hayes, Tyson's president and chief executive officer, said in an interview with Fox Business in Davos, Switzerland, on Friday that the company's next earnings report will detail the effects of the Donald Trump administration's tax provisions.
"We're going to tell investors exactly what it means for us," Hayes said. "Last year, we paid about $850 million in taxes at about a 30 to 40 percent rate. ... So for us, it's a big deal."
Hayes did not go into detail about Tyson's performance for the quarter that ended Dec. 31.
Tyson's fiscal 2018 first-quarter earnings report will be released Feb. 8. Later that day, Tyson will hold its annual investors meeting in Springdale.
-- Nathan Owens
Consulting offered for food, drink firms
Food and beverage establishments in Pulaski, Faulkner, Jefferson and White counties can receive free consulting advice through a grant program administered by the small-business center of the University of Arkansas at Little Rock.
"The food-and-beverage sector is a mainstay of our economy that serves residents and tourists," said Laura Fine, director of the Arkansas Small Business and Technology Development Center. "Our goal is to support new and established small businesses in the industry by giving them tools and skills they can use to reach more customers, increase sales, and create jobs."
A series of events across the four counties will run from Feb. 15, starting in Little Rock, through May 15, in Searcy. The events are free, and registration is required. Funding comes from a $100,000 grant from the U.S. Small Business Administration.
More information is available from Shannon Roberts, at the business and technology center, at firstname.lastname@example.org or (501) 683-7700.
-- Stephen Steed
Index tumbles 5.01, ends day at 430.14
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, dropped 5.01 to 430.14 Monday.
"Wall Street pulled back from record highs with the S&P 500 marking its biggest one-day percentage decline in about five months, weighed down by a slide in Apple shares," said Chris Harkins, managing director with Raymond James & Associates in Little Rock.
Total volume for the index was 20.4 million shares.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 01/30/2018
Print Headline: News in brief