NEWS: Procter & Gamble's fiscal first-quarter net income rose 8 percent as the world's largest consumer products company sold more of its detergent and diapers globally and cut costs. The results were in line with Wall Street expectations and the company reaffirmed its 2014 forecast.
CONTEXT: The Cincinnati-based company, whose products range from Tide detergent to Crest toothpaste and Gillette razors, is in the midst of a turnaround plan that includes focusing on its most profitable core businesses and cutting costs to save $10 billion by fiscal 2016.
HOT PRODUCTS: Total volume rose 4 percent, helped by increases in beauty; fabric care and home care; and baby, feminine and family care categories.
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