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Food and Beverage Beverages

  • BRUSSELS, March 2- Anheuser-Busch InBev, the world's largest brewer, raised its forecast for savings from its near $100 billion takeover of SABMiller after weaker than expected earnings as beer sales suffered in Brazil. The company, now more than double the size of nearest rival Heineken, increased its cost savings and synergy target to $2.8 billion from $2.45...

  • March 1- PepsiCo Inc said on Wednesday it would cut 80 to 100 jobs in Philadelphia as the city's new sugar-sweetened beverage tax hurts demand for its products. Philadelphia imposed a tax of 1.5 cent per ounce on sugary and diet drinks to combat rising obesity and diabetes in the city. PepsiCo's beverage sales fell 40 percent in the city because of the tax, company...

  • Trump could use a Negroni: Gruppo Campari CEO

    Gruppo Campari CEO Bob Kunze-Concewitz discusses earnings, the potential of a U.S import tax and his interest in M&A.

  • Feb 28- The maker of Kona craft beer was sued on Tuesday by two California shoppers who claim they were deceived into believing the beer was made in Hawaii, causing them to overpay for it. Sara Cilloni and Simone Zimmer said Craft Brew Alliance Inc misleads consumers about the origin of its Kona Brewing Co beers, saying the fifth-largest U.S. craft brewer makes them...

  • Feb 28- The maker of Kona craft beer was sued on Tuesday by two California shoppers who claim they were deceived into believing the beer was made in Hawaii, causing them to overpay for it. Sara Cilloni and Simone Zimmer said Craft Brew Alliance Inc misleads consumers about the origin of its Kona Brewing Co beers, saying the fifth-largest U.S. craft brewer actually...

  • LONDON, Feb 28- Global coffee exports rose 6.7 percent in January from a year earlier to total 9.84 million 60- kg bags, the International Coffee Organization said on Tuesday. For the first four months of the 2016/ 17 season, which began on Oct. 1 last year, coffee exports were up 8.9 percent at 39.98 million bags. Robusta coffee exports were a marginal 0.4 percent lower...

  • Feb 24- Coca-Cola Femsa SAB de CV, the largest Coke bottler in the world, reported a jump in quarterly profit on Friday, helped by higher volume sales in Costa Rica, Nicaragua and the Philippines. The company's net income attributable to equity holders rose to 3.51 billion Mexican pesos in the fourth quarter ended Dec. 31, from 2.69 billion Mexican pesos, a year...

  • Feb 20- Acquire, slash costs, repeat. Billionaire investor Warren Buffet and buyout firm 3 G Capital's failed $143 billion bid to combine their food conglomerate Kraft Heinz Co with Unilever Plc shows their winning formula now needs a growth boost. "Perhaps Kraft will now acquire another medium-sized U.S. food company, like General Mills Inc, Kellogg Co, or...

  • Feb 17- Buyout firm 3 G Capital managed to build a consumer empire with a market value of over $140 billion in just seven years. Yet its ruthless approach to costs may end up hampering 3 G-backed Kraft Heinz Co's $143 billion bid for Unilever Plc.. Its investment approach has attracted backers ranging from billionaire investor Warren Buffett, who has helped...

  • Smucker's shares fell as much as 6 percent to $130.01 in morning trading on Friday. Green coffee prices are expected to rise through early 2017 as drought has hit coffee output from top grower Brazil for three straight years. "We think there is an opportunity as our contracts roll off to improve that dramatically," Steven Oakland, who heads, Smucker's coffee and U.S....

  • Green coffee prices are expected to rise through early 2017 on forecasts that demand will outstrip supply, as drought has hit coffee output from top grower Brazil for three straight years. The company's pet foods business, its biggest in terms of sales, has come under pressure from rivals Mars Petcare and Nestle's Purina, which are using promotions and...

  • Smucker's pet foods business, its biggest in terms of sales, has also been hit by competition as rivals Mars Petcare and Nestle's Purina use promotions and discounts to lure customers. Smucker's net income fell to $134.6 million, or $1.16 per share, in the latest quarter from $185.3 million, or $1.55 per share, a year earlier. The company's net sales fell 5 percent to...

  • *JV with Denmark's Arla Foods to start in April. CAIRO, Feb 16- Egypt's largest dairy and juice producer, Juhayna Food Industries, will cut investment this year and raise prices by 5-10 percent as it feels the impact of soaring inflation in its home market, its chief executive said. Inflation in Egypt has soared since a currency float on Nov. 3 to top 30 percent in...

  • VEVEY, Switzerland, Feb 16- Nestle's new chief executive scrapped the food company's long-standing sales target as it reported disappointing annual results on Thursday, adopting a more cautious tone in an uncertain environment. Unilever cited problems in Brazil and demonetization in India, while Danone pointed the finger at tough conditions in China.

  • Happy Leaf Kombucha is served in a Denver kombucha taproom.

    Legislation introduced by Colorado congressmen also aims to update regulations for kombucha companies nationwide.

  • Feb 15- Kraft Heinz Co, the maker of Velveeta cheese, Heinz ketchup and Oscar Mayer meats, reported a higher-than-expected adjusted profit, helped by lower costs. Last month, the company said it would form a joint venture with media mogul Oprah Winfrey to develop a new line of food products in the United States. Sales fell 3.8 percent to $6.86 billion, hit by a stronger...

  • Feb 15- Procter& Gamble Co, maker of Tide detergent and Gillette razors, will face ever greater pressure to slice costs and slow-growing divisions now that activist investor Trian Partners is a major shareholder. A person familiar with the matter told Reuters that Trian currently holds more than $3 billion of P&G's stock. Bernstein Research said in January 2016...

  • Feb 15- Kraft Heinz Co, the maker of Velveeta cheese, Heinz ketchup and Oscar Mayer meats, reported a 3.8 percent fall in quarterly sales, hit by a stronger dollar and lower demand in the United States. Net income attributable to shareholders was $944 million, or 77 cents per share, in the fourth quarter ended Dec. 31, compared with $285 million, or 23 cents per share, a year...

  • Feb 15- Shmaltz Brewing Co said on Wednesday it agreed to stop selling beer carrying the "MANNAge a Trois" name to settle a lawsuit in which California's Sutter Home Winery Inc accused it of infringing its "Menage a Trois" trademark. In a Nov. 28 complaint in San Francisco federal court, Sutter Home had said MANNAge a Trois was "confusingly similar" to Menage a Trois, a...

  • Feb 15- U.S. stock index futures were little changed on Wednesday, ahead of a blast of economic data and a day after Federal Reserve Chair Janet Yellen painted a largely upbeat picture of the economy. *Yellen said on Tuesday, before the U.S. Senate Banking Committee, that delaying interest rate hikes would be unwise, but did not indicate when the Fed would raise rates.