Coke Rival To Invest Big in Russia

The number two soft drink maker behind Atlanta-based CocaCola, PepsiCo says it will team up with its largest bottler, Pepsi Bottling Group, to invest $1 billion in Russia over three years. PepsiCo calls it part of a long-term strategy to expand in emerging markets. The investment will be used to boost manufacturing and distribution capacity in Russia - an "attractive growth market." PepsiCo is also opening a new beverage facility this week in Domodedovo and will open a snacks manufacturing plant in Azov later this year. The PepsiCo plant in Domodedovo will produce Pepsi-Cola andother beverages. Purchase, N.Y.-based PepsiCo is the world's second-biggest maker of soft drinks behind Coca-Cola Co.

(Associated Press)

Coca-Cola cutting jobs

Coca-Cola plans to cut some information technology jobs in order to streamline operations. The Atlanta-based beverage maker would not say how many jobs would be dropped from its IT department of 1,100 employees. Coke will notify those affected by mid-November, with separations taking place by the end of the year. Coke president and CEO Muhtar Kent said earlier this year he wanted to find up to 500-million dollars in annual savings in the next three years.

Help for college first-timers

Georgia highschoolers who want to be the first in their families to go to college, can get help going to the University of Georgia. The Atlanta Business Chronicle reports the Coca Cola Foundation is donating $1 million dollars to UGA to help the first 50 such students attend. Students get $5,000 a year which is renewable every year.