Company news

Papa John's cuts costsPapa John’s International Inc on Friday said it would lower royalties and fees charged to its US and Canadian franchisees as sales at the US pizza chain decline following the acrimonious exit of it founder.The company will cut royalties, food-service pricing and online fees through 2018, while also funding the rebranding of the chain.This comes days after the company said its North American comparable sales for July had fallen 10.5% and would continue falling in the coming months.-Nampa/ReutersAutomakers balk at US requestTwo automotive trade groups on Friday raised “significant concerns” over the US government’s request for confidential business information as it probes whether automotive imports pose a national security risk, according to a letter seen by Reuters.The US Commerce Department survey demands sweeping details on operations of major US and foreign automakers, including planned changes to US facilities, revenue for specific classes of products and use of auto parts. The survey says companies that do not comply could face fines or criminal charges.-Nampa/ReutersLee looks to exit denim businessVF Corp is exploring strategic options for its denim business that could include a sale or spin off of its Lee and Wrangler jeans brands, the Wall Street Journal reported on Friday, citing people familiar with the matter.Greensboro, North Carolina-based VF, which also makes Vans shoes, rakes in more than US$2.5 billion in annual revenue. Its jeans business has seen demand slip as big retailers including Walmart stock more of their own private label brands.-Nampa/ReutersEthiopian Airlines frontrunner in Nigeria tenderEthiopian Airlines is the frontrunner to set up and manage a new national carrier for Nigeria, its chief executive said on Friday.“We are among a small group with an interest in establishing a national carrier (in Nigeria)...we do not know the results (of the tender), though we are frontrunners,” chief executive Tewolde Gebremariam told a news conference.The state-owned carrier has outpaced regional competitors Kenya Airways and South African Airways to become Africa’s largest airline by revenue and profit, according to the International Air Transport Association.Taxify bets on motorcycles and rickshawsTaxify, an Estonian ride-hailing company aiming to take on Uber in emerging markets, will invest millions of euros in East Africa in the next five years with a strategy focused on motorised rickshaws and motorcycles, it said on Thursday.The company, which already operates in five cities in Kenya, Uganda and Tanzania and will continue to offer regular car rides, said it saw the best opportunity for growth via taxi services in locally popular forms of motorised transport.-Nampa/Reuters

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