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Food and Beverage Food Products

  • NEW YORK, June 26- Nestle's jump to a record high boosted European stocks and helped buoy a global index on Monday, while the dollar was close to recent lows and the U.S. yield curve flattened after soft capital goods data. Stocks were volatile on Wall Street, with defensive sectors emerging as the best performers as the S&P 500 eked out a small gain.

  • AMSTERDAM/ LONDON, June 26- When billionaire activist investor Daniel Loeb wanted to give his arguments against Nestle's performance greater credibility and heft, he turned to one of Europe's most experienced turnaround experts, Dutchman Jan Bennink. Loeb's fund, Third Point LLC, disclosed a $3.5 billion stake in the Swiss food group in a letter to its...

  • NEW YORK, June 26- Nestle's jump to a record high boosted European stocks and helped buoy a global index on Monday, while the U.S. dollar was close to recent lows and the U.S. yield curve flattened after soft capital goods data. Stocks were volatile on Wall Street, with technology going from top gainer to top decliner and defensive sectors emerging as the best...

  • SAO PAULO, June 26- The investment arm of Brazil's state development bank BNDES has convened a JBS SA shareholder meeting to remove the controlling Batista family from the meatpacker's management and board, in the latest twist involving the world's No. 2 food processor. BNDES Chief Executive Officer Paulo Rabello de Castro said BNDES Participações SA wants...

  • A person looks at the refrigerated display case at a butcher's shop, in Sao Paulo, Brazil on March 20, 2017.

    Brazil health inspectors said understaffing and budget cuts by the government ultimately caused the sanitary problems with beef shipments.

  • NEW YORK, June 26- Nestle's jump to a record high boosted European stocks and helped buoy a global index, while the U.S. dollar index was close to recent lows and the U.S. yield curve flattened after soft capital goods data. Stocks were volatile on Wall Street, with technology going from top gainer to top decliner in the course of the morning. A massive trade in gold...

  • Daniel Loeb, founder and chief executive officer of Third Point LLC

    CNBC's Leslie Picker reports on Third Point's investment in Nestle and the company CEO, Dan Loeb, viewing the investment as having a large upside. The “Fast Money Halftime Report” traders weigh in.

  • Dan Loeb at 2014 WEF in Davos, Switzerland.

    Third Point owns shares and options of Nestle worth over $3.5 billion, according to an investor letter published Sunday.

  • June 26- Nestle is under pressure from U.S. activist shareholder Third Point, which has taken a $3.5 billion stake in the food maker and is pushing Europe's largest company to improve margins, buy back shares and get rid of non-core businesses. Nestle shares jumped as much as 4.8 percent on Monday, touching a record high as investors hoped that Third Point's stake,...

  • By Michael Erman and Martinne Geller. June 26- Activist investor Daniel Loeb's Third Point LLC on Sunday unveiled a stake of more than 1 percent in Switzerland's Nestle SA and urged the world's largest packaged foods maker to improve margins, buy back stock and shed non-core businesses. Third Point disclosed the Nestle position in a letter to the hedge fund's...

  • June 25- Activist investor Daniel Loeb's Third Point LLC on Sunday unveiled a stake of more than 1 percent in Switzerland's Nestle SA and urged the world's largest packaged foods maker to improve its margins, buy back stock and shed non-core businesses. The 3.28 billion Swiss francs stake is the largest ever taken by the hedge fund, which pressed for change in...

  • June 25- Activist investor Daniel Loeb's Third Point LLC on Sunday unveiled a stake of more than 1 percent in Switzerland's Nestle SA and urged the world's largest packaged foods maker to improve its margins, buy back stock and shed non-core businesses. The 3.28 billion Swiss francs stake is the largest ever taken by the hedge fund, which pressed for change in...

  • June 25- Activist investor Daniel Loeb's Third Point LLC on Sunday unveiled a more than 1 percent stake in Switzerland's Nestle SA and urged the world's largest packaged foods maker to improve its margins, buy back stock and shed non-core businesses. The stake, worth around 3.28 billion Swiss francs, is one of the largest taken by the hedge fund, which pressed for...

  • June 23- Brazil's top federal prosecutor will level corruption charges against President Michel Temer one at a time instead of making all the accusations at once, a strategy aimed at weakening his defense, a source with direct knowledge of the process told Reuters on Friday. Under Brazilian law, any criminal charges against a sitting president must be approved...

  • CHICAGO/ BRASILIA, June 23- Brazilian officials scrambled to shore up their beef industry's reputation on Friday after the United States blocked shipments of fresh cuts, saying it found abscesses in the meat and signs of systemic failures in the inspection program of the world's largest beef exporter. While fresh beef shipments to the United States represent...

  • SAO PAULO, June 23- Brazil's agriculture minister prepared to travel to the United States on Friday to fight a ban on imports of fresh Brazilian beef, which hit shares of local meatpackers and revived concerns about the image of the world's largest beef exporter. The U.S. Department of Agriculture's ban dealt a setback to Brazil's recently opened fresh beef...

  • June 23- Brazil's top federal prosecutor will level corruption charges against President Michel Temer one at a time instead of making all the accusations at once, a strategy aimed at weakening his defense, a source with direct knowledge of the process told Reuters on Friday. Under Brazilian law, any criminal charges against a sitting president must be approved...

  • SAO PAULO, June 23- Brazil's agriculture minister prepared to travel to the United States on Friday to fight a ban on imports of fresh Brazilian beef, which hit shares of local meatpackers and revived concerns about the image of the world's largest beef exporter. The U.S. Department of Agriculture's ban dealt a setback to Brazil's recently opened fresh beef...

  • SAO PAULO, June 23- Brazil's Agriculture Minister Blairo Maggi prepared to travel to the United States on Friday to fight a ban on imports of fresh Brazilian beef, which hit shares of local meatpackers and revived concerns over the image of the world's largest exporter. But it was a setback for Brazil's recently opened fresh beef trade with the United States and...

  • BEIJING, June 23- China let through the first shipments of beef from the United States in 14 years on Friday, after the two nations agreed to resume the trade in May, state media reported. China officially allowed U.S. beef imports from Tuesday this week after the two sides settled the conditions for exports last week. Beef destined for China must also be from cattle...