Kraft Heinz pledges billions to upgrade U.S. factories

Kraft Heinz is spending $3 billion to upgrade its U.S. factories, its largest investment in its plants in a decade, even as executives say consumer sentiment is at its second-lowest point in 70 years, and it has cut sales and profit forecasts. The upgrades will help lower costs by making the plants more efficient, which in turn may help offset President Donald Trump’s tariffs, which factored into the company‘s decision to make the investment, said Pedro Navio, Kraft Heinz’s president of North America, in an interview with Reuters. The investment...