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    Danone to sell Stonyfield for $875 million

    DAIRY PRODUCTS

    Danone to sell Stonyfield
    for $875 million

    French dairy company Danone will sell Stonyfield, based in Londonderry, N.H., for $875 million to the French company Lactalis, the largest dairy products group in the world. Stonyfield was put up for sale in March after Danone’s $10 billion purchase of WhiteWave, the maker of Horizon Organic milk and Silk soy milk. The deal raised red flags for the US Justice Department, which worried about a monopoly in the organic milk market. Danone was forced to sell the company or face antitrust action. Stonyfield has played a key role in fueling Americans’ appetite for yogurt, and after three decades, it has become the top-selling organic yogurt in the country. — GLOBE STAFF

    MANUFACTURING

    US factories expanded in June

    US factories expanded at a robust pace in June, a likely sign of strength for the US economy as new orders, production, and employment each improved. The Institute for Supply Management said Monday that its manufacturing index rose to 57.8 last month from 54.9 in May. Anything above 50 signals that factory activity is increasing. The measure now stands at its highest level since August 2014, pointing to solid economic growth. Fifteen of 18 manufacturing industries surveyed by ISM posted growth in June, including the furniture, machinery, fabricated metals, and petroleum and coal sectors. One transportation equipment firm surveyed for the report said ‘‘demand is up 5 to 7 percent.’’ A chemical company said its business globally ‘‘continues to show improvement.’’ — ASSOCIATED PRESS

    CYBERATTACKS

    Small Ukrainian tax software company at heart
    of cyberattack

    The small Ukrainian tax software company that is accused of being the patient zero of a damaging global cyberepidemic is under investigation and will face charges, the head of Ukraine’s Cyberpolice suggested Monday. Colonel Serhiy Demydiuk, the head of Ukraine’s national Cyberpolice unit, said in an interview with the Associated Press that Kiev-based M.E. Doc’s employees had blown off repeated warnings about the security of their information technology infrastructure. Demydiuk and other officials say last week’s unusually disruptive cyberattack was mainly spread through a malicious update to M.E. Doc’s eponymous tax software program, which is widely used by accountants and businesses across Ukraine. — ASSOCIATED PRESS

    TECHNOLOGY

    Microsoft reorganization
    to mean job cuts

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    Microsoft Corp. is reorganizing its sales and marketing operations in a bid to woo more customers in areas like artificial intelligence and the cloud by providing sales staff with greater technical and industry-specific expertise. The changes will mean thousands of job cuts in areas such as field sales, said a person familiar with the restructuring who asked not to be named because the workforce reductions aren’t public. The company had 121,567 employees as of March 31. The memo didn’t mention any job cuts. The company unveiled the steps in an e-mail to staff Monday that was obtained by Bloomberg. Commercial sales will be split into two segments — one targeting the biggest customers and one on small and medium clients. Employees will be aligned around six industries — manufacturing, financial services, retail, health, education, and government. They’ll focus on selling software in four categories: modern workplace, business applications, apps and infrastructure, and data and AI. — BLOOMBERG NEWS

    VENTURE CAPITAL

    Cofounder of 500 Startups resigns after women complain about
    his behavior

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    Dave McClure, cofounder of early-stage venture capital fund 500 Startups, resigned as general partner after complaints by several women about his behavior. On Friday, The New York Times published a report that included a 2014 message sent by McClure to entrepreneur Sarah Kunst. He wrote: “I was getting confused figuring out whether to hire you or hit on you,” according to Kunst. Later Friday, McClure wrote a blog post entitled “I’m a Creep. I’m Sorry.” He said he’d made advances toward multiple women in work situations. McClure is a bombastic figure known for unconventional behavior, including a profanity-laden screed about then President-Elect Trump’s use of technology at a summit in Lisbon last year. — BLOOMBERG NEWS

    FEDERAL RESERVE

    Yellen hospitalized over weekend
    in London

    Federal Reserve chairwoman Janet Yellen was hospitalized over the weekend in London for treatment of a urinary tract infection, but has been discharged and is heading home. Yellen, 70, was admitted Friday and released Monday from King Edward VII Hospital, the central bank said in a statement Monday. She is returning to Washington and expects to resume her schedule as planned this week, the Fed said. Yellen was in London to speak at an event at the British Academy on June 27 and remained in the city for a brief vacation with her family. The hospitalization is the second known health incident during her more than three years at the helm of the US central bank. In September 2015, Yellen required medical attention after struggling to finish a speech in Amherst, Mass. The Fed later said she felt dehydrated at the end of the lengthy address and was seen by medical staff on site as a precaution. She continued on with her schedule that evening. Yellen’s current term as chairwoman ends Feb. 3. President Trump has not indicated whether he plans to reappoint her for another four years, or nominate a successor. — BLOOMBERG NEWS