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The Coca-Cola Company
Coca-Cola to cut costs by $1 billion
Coca-Cola to cut costs by $1 billion

Coca-Cola Co., faced with tepid demand and a drop in fourth-quarter earnings, said it was initiating a $1-billion cost-cutting campaign to improve profitability. The world's largest beverage company said Tuesday that profit fell 8.4% in the fourth quarter last year compared with the same period the previous year. Shares of the Atlanta company fell $1.46, or 3.8%, to $37.47. Coca-Cola said its fourth-quarter net income fell to $1.71 billion, or 38 cents a share, from $1.87 billion, or 41 cents, a year earlier. Muhtar Kent, Coke's chairman, said the company remained confident about the coming year. "While we move forward in what remains an uncertain global economy, the...

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