Kraft Foods Inc. (KFT), a leading manufacturer and marketer of packaged food and grocery products worldwide, announced its plans to invest about €15 million (approximately $20 million) to establish a new biscuit research and development (R&D) center in Saclay , France , a suburb of Paris . The new facility is expected to serve as the company's European Center of Expertise for Biscuits. The primary focus being on innovation and new product development for many of Europe's most loved biscuit brands, including LU, Mikado, Oreo, Prince, Saiwa and TUC. The facility will also be responsible for bringing forward major biscuit technology platforms for the European market and beyond. The new R&D center, once completed will add to the other 11 existing Kraft Foods R&D centers that support its businesses around the globe. The new center that is scheduled to open during the first half of ...

Mutual Global Discovery A (TEDIX) was incepted in December 1992 and seeks capital appreciation. It may invest all its assets in foreign equity and debt securities, including sovereign debt and participations in foreign government debt, of companies that are trading below their intrinsic value.

The fund invests the equity portion of its portfolio primarily to predominantly in mid- and large cap companies, with the remaining portion of its equity portfolio in smaller companies. As of December 2008, its portfolio turnover was 25.23%.

The fund's top holdings include British American Tobacco Plc (BTI), Wyeth (WYE) and Groupe Danone.

Franklin Strategic Income A (FRSTX) seeks high current income with capital appreciation as a secondary consideration. The fund invests at least 65% of its assets in U.S. and foreign debt securities.

The fund may invest substantially all of its assets in high-yield, lower-quality

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Today we are featuring top-performing "global" equity mutual funds that invest in equity securities of both U.S. and foreign companies.

Investors can find such funds by checking out the entire list of the Zacks #1 Rank Global Equity Funds list.

3 Solid Picks

First Eagle Global A (SGENX) seeks long-term capital growth by investing in a wide range of asset classes from markets in the United States and around the world. It has a flexible approach and invests in securities regardless of market capitalization, sector or asset class.

The fund invests in undervalued common stocks, bonds, preferred and convertible securities and, at times, real estate and gold-related investments. It has topped its benchmark index in terms of total annual returns in the 1-, 3- and 5-year periods.

Berkshire Hathaway Inc. (BRK.A) SMC Corp. and Sodexho Alliance are among the fund's top

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Weight Watchers International,the weight management company, has opened its first outlets in Shanghai. Weight Watchers Danone (China) Weight Loss Consultation Company owned by a joint venture between Weight Watchers International, and Groupe Danone, the food giant, has launched its first weight management services pilot centers in the heart of Shanghai. David Kirchoff president and CEO of Weight [...]