• China’s thirst for dairy is increasing dramatically and so are imports of milk and dairy-based products such as cheese and yogurt. Consumption of dairy products in China is expected to rise 20 percent over the next four years, according to the Financial Times.
• Berkhire Hathaway Inc., the company of Warren Buffett, took a $3.7 billion stake in the world’s largest oil company, Exxon Mobile Corp. The oil giant is one of the most efficient discoverers of oil in the world and largely considered an undervalued stock by analysts, according to Bloomberg.
• Wal-Mart Stores Inc. reported poor quarterly sales for the third straight quarter last week. The slow buying in the retail giant is an indication of trouble for the holiday season, according to the Wall Street Journal.
• Jeff King, a professional caddy for pro golf tournaments, started a beef jerky company with his own recipe and a loyal customer base, which includes Tiger Woods. The successful startup is now distributing its jerky in retail stores, according to Bloomberg.
• Sixty percent of New Jersey businesses say they plan to hire in 2014, and 80 percent of businesses say that they feel optimistic about the economy in 2014, according to a survey by Provident Bank.
• Snapchat, the popular photo-messaging app, rejected a $3 billion cash acquisition offer from Facebook. The small company hopes to spend at least the next year gaining new users and a larger valuation, according to the Wall Street Journal.
• Unmanned aircrafts, called drones, had been used primarily by the military. Now, however, Americans can expect commercial drones to be hitting the sky and being used for mapping, surveying agricultural fields and even studying marine mammals, according to Bloomberg.
