Get the DealBook newsletter to make sense of major business and policy headlines — and the power-brokers who shape them. __________The reputations of some of the world’s most powerful investors rest on a huge but humdrum challenge: getting consumers excited again about Kraft macaroni and cheese. Kraft’s shares plunged 28 percent on Friday, lopping more than $16 billion off the company’s stock market value. 3G Capital, the Brazilian investment firm that led the merger of Kraft and Heinz in 2015 and steers the combined company, has taken a big financial hit on its 22 percent stake in Kraft. Warren E. Buffett’s Berkshire Hathaway has an even bigger stake in Kraft and lost an estimated $4 billion on Friday.

Source: New York Times February 23, 2019 00:26 UTC