Arkady Dvorkovich, deputy Prime Minister of Russia, says food prices will stabilize despite inflation around 20 percent.» Read More
The head of the Centers for Disease Control's Influenza Division says the agency is "concerned" that the bird flu virus may mutate.
*Euro zone agrees to launch bailout for Greece. *J.C. Penney, Nordstrom rise after results. Aug 14- U.S. stocks ended a volatile week higher on Friday after upbeat U.S. economic data and as euro zone finance ministers agreed to launch a third bailout program for Greece.
*J.C. Penney, Nordstrom rise after strong results. J.C. Penney and Nordstrom both rose after the department store chains posted better-than-expected quarterly results. J.C. Penney was up 5.1 percent at $8.48 while Nordstrom jumped 3.7 percent to $77.72 and was among the biggest percentage gainers in the S&P 500, while the S&P retail index was up 0.4 percent.
Aug 14- Tyson Foods Inc on Friday said it is permanently ceasing beef production at its plant in Denison, Iowa, effective immediately, as cattle ranchers work to rebuild shrunken herds following the severe Midwestern drought. Tyson's Denison plant has a daily estimated slaughter capacity of about 2,000 head of cattle over a five-day work week, which represent 2...
Aug 14- Any day now, David Murdock, the 92- year-old owner of Dole Food Co, will find out whether his decision to go to trial to defend the terms of his 2013 buyout of the company was heroic or foolish. It was certainly unusual, and could lead to one of the biggest judgments ever in Delaware's Court of Chancery, a leading venue for corporate disputes.
*King Digital, El Pollo Loco slump as results disappoint. *J.C. Penney, Nordstrom rise after strong results. The positive data comes at the end of a choppy week during which China devalued its currency, hitting markets and derailing predictions of a rate hike.
SAO PAULO, Aug 14- Brazilian meatpacker JBS SA expects fresh beef exports to the United States to begin no earlier than 2016, later than the Brazilian government predicted, Chief Executive Officer Wesley Batista said on Friday. A green light for fresh beef shipments to the United States could help Brazil gain access to other key markets, such as Japan and South...
Aug 13- Restaurant chain operator El Pollo Loco Holdings Inc's quarterly comparable sales fell short of analysts' estimates as the number of diners visiting its outlets fell for the first time since the company went public last year. The company's shares slumped 14 percent to $15.71 in extended trading on Thursday, just shy of the IPO price of $15.
Aug 13- Restaurant chain operator El Pollo Loco Holdings Inc reported weaker-than-expected quarterly comparable sales as the number of diners visiting its outlets fell for the first time since its debut. El Pollo Loco, known for its specialty fire-grilled chicken, reported a 3.9 percent fall in customer traffic to company-owned restaurants in the second...
Aug 13- Restaurant chain operator El Pollo Loco Holdings Inc reported weaker-than-expected quarterly comparable sales as the number of diners visiting its outlets fell for the first time since its debut. Net income rose to $7.2 million from $6.6 million a year earlier. Total revenue rose 3 percent to $89.5 million in the quarter.
CNBC's Morgan Brennan reports egg prices are 142 percent higher than they were in April. Bird flu is the reason, she says, and the hikes are far from over.
CNBC's Morgan Brennan looks at the rising cost of eggs.
Taco Bell's incoming CEO Brian Niccol, says Taco Bell is on a great streak in hiring and food products. Also, Niccol comments on high unemployment rates in teens.
Egg prices fly to record heights.
CNBC's Morgan Brennan reports on the pain from bird flu for consumers and farmers.
*Net profit 4.52 bln Sfr vs poll avg 4.74 bln. ZURICH/ LONDON, Aug 13- Nestle, the world's biggest packaged food company, posted better than expected first-half sales growth and stuck to its 2015 forecast, despite a recall of Maggi noodles in India, helped by higher prices in some key product areas. The result put the Swiss company second only to Reckitt Benckiser for...
Aug 12- Kraft Heinz Co said it will eliminate 2,500 jobs in the United States and Canada, including about 700 at its headquarters in Northfield, Illinois. Kraft Heinz currently has about 46,000 employees, including about 1,900 at the company's headquarters, spokesman Michael Mullen in an emailed statement to Reuters on Wednesday. The combined Kraft Heinz has...
Aug 12- Kraft Heinz Co said it will cut 2,500 jobs in the United States and Canada as part of its cost cutting initiatives following the creation of the company through the $46- billion merger of ketchup maker H.J. Heinz with Kraft Foods. Of the total job cuts, 700 will be in Kraft Heinz's Northfield, Illnois headquarters, spokesman Michael Mullen in an emailed...
McDonald's quietly makes quarter pounder a tad heavier.