Berkshire Hathaway, 3G chiefs join Heinz board
Warren Buffett is now on the H.J. Heinz Co. board. The Berkshire Hathaway investing legend, whose company partnered with 3G Capital in acquiring the Pittsburgh food company, joined the new Heinz board created when the $28 billion purchase went into effect a week ago. Instead of names such as former Steeler Lynn Swann and PPG Industries CEO Charles Bunch, the now-private company's board includes Mr. Buffett and Jorge Paulo Lemann, a 3G partner whom Forbes magazine lists as Brazil's richest man. The other directors are: from the 3G side -- Marcel Herrmann Telles, board member at Burger King and former CEO of Ambev, and Alexandre Behring, chairman of Burger King; and from the Berkshire Hathaway side -- Gregory Abel, who runs MidAmerican Energy Holdings Co., and Tracy Britt, whom Bloomberg News lists as chairman of four Berkshire subsidiaries including Johns Manville and Benjamin Moore.
PBGH leader stepping down at end of year
M. Christine Whipple, executive director for the Pittsburgh Business Group on Health for more than 20 years, has told the group's board that she will be stepping down at the end of this year. "It has been such a privilege to lead this employer organization and I have enjoyed thoroughly being with the PBGH," she said Friday. "PBGH has had significant impact not only here in the Pittsburgh region, but also nationally, being recognized across the country as one of the leading employer coalitions."
New Airbus wide-body completes test flight
Airbus' new A350 wide-body returned from its maiden flight Friday after a four-hour airborne test of the long-range airliner, in a show of confidence that the jet can enter service in late 2014 and challenge Boeing. Two test pilots and four engineers returned the A350 to the airfield at Airbus headquarters in Toulouse, southwestern France, shortly after 2 p.m., after they had performed the first flight under the gaze of 12,000 spectators.
Wholesale prices rise, but inflation mostly mild
A rise in food and gas costs drove wholesale prices up sharply in May. But outside those volatile categories, inflation was mild. The Labor Department said Friday that the producer price index rose 0.5 percent in May from April. Core prices, which exclude food and energy, rose just 0.1 percent in May.
After two-month decline, factory production rises
The Federal Reserve said Friday that factory production rose just 0.1 percent in May from April. Output fell 0.4 percent in April and 0.3 percent in March. Factories produced more autos, computers and wood products last month, offsetting declines in the production of furniture and primary metals. Manufacturing output has risen just 1.7 percent in the past 12 months.