Business news in brief

By The Associated Press

Campbell wants to say goodbye to the ‘soup’ in its name

NEW YORK | Campbell is ready to drop the soup — at least from its official name.

Campbell Soup Co. announced its intention to change its name at an annual meeting of investors on Tuesday. The 155-year-old food seller, which is most famous for its assortment of namesake canned soups, says it would now like to be known as Campbell’s Co.

The new name is still subject to a shareholder approval.

The New Jersey company is far from the first to attempt such as makeover. A handful of other food brands and retailers have also rebranded themselves over the years — often shedding the mention of specific item they were known for with shorter corporate title, or even just an updated logo, in hopes of emphasizing other business.

Key witness in Bankman-Fried trial seeks no prison time

NEW YORK | Caroline Ellison, a former top executive in FTX founder Sam Bankman-Fried’s collapsed cryptocurrency empire, is seeking no prison time at her sentencing later this month.

Lawyers for Ellison made the request shortly before midnight Tuesday in a filing in Manhattan federal court. The lawyers cited her immediate and extensive cooperation with U.S. authorities when FTX and related companies collapsed in November 2022.

She pleaded guilty nearly two years ago and testified against Bankman-Fried, her former boyfriend, at his trial. After his conviction, Bankman-Fried was sentenced to 25 years in prison.

Fed official’s investments broke ethics rules

WASHINGTON | A government investigation into Atlanta Federal Reserve President Raphael Bostic’s securities trades and investments has found he violated several of the central bank’s ethics policies.

The Fed rules violations “created the appearance” that Bostic acted on confidential Fed information and that he had a conflict of interest, but the Fed’s Office of Inspector General concluded there were no violations of federal insider trading or conflict of interest laws, according to a report issued Wednesday.

The probe reviewed financial trades and investments in a roughly five-year period starting in 2017 made by several investment managers on Bostic’s behalf — transactions that in October 2022 he said he had been initially unaware of.

—From AP reports