CAIRO, Nov 26- The battle for control of Egyptian cake and biscuit maker Bisco Misr intensified on Wednesday as Abraaj Investment Management raised its initial bid to trump a rival offer from Kellogg Co.. UAE- based Abraaj, the Middle East's largest private equity firm, raised its offer to 80.58 Egyptian pounds per share, exactly two percent above a bid of 79 pounds...» Read More
After suing a small California company for calling its product " Just Mayo," because the product is made without eggs, it was discovered that Unilever had tweaked its website to make clear that some of its own salad dressings also do not actually contain mayonnaise, but were described in the same way. The suit accuses Hampton Creek of false advertising, with...
Tyson Foods, the largest U.S. meat processor, reported a better-than-expected quarterly profit. Tyson Foods shares were up 5 percent.
Nov 14- Tyson Foods Inc's, the largest U.S. meat processor, reported a better-than-expected quarterly profit. Tyson Foods shares were up 5 percent in premarket trading. The company said it expects an adjusted profit of $3.30- 3.40 per share and sales of $42 billion for the year ending September 2015.
Nov 14- Tyson Foods Inc, the largest U.S. meat processor, said its quarterly profit nearly halved as beef sales fell. Net income attributable fell to $137 million, or 35 cents per share, in the fourth quarter ended Sept. 27, from $261 million, or 70 cents per share, a year earlier. Revenue rose 13.6 percent to $10.10 billion.
SPRINGDALE, Ark.— Tyson Foods Inc. shares jumped Monday on strong profit and revenue gains from the meat processor. Analysts surveyed by Zacks Investment Research were anticipating earnings of 77 cents per share. Tyson's revenue rose to $10.11 billion in the period, which topped market forecasts of $9.88 billion, according to Zacks.
BEIJING— A fire in a carrot-packaging plant has killed 18 people in eastern China, police said Monday. An additional 13 people were injured in the fire Sunday night at the Longyuan Food Co. facility in the Shandong province city of Shouguang, the city's police department said on its official microblog. Two of the injured were in serious condition, the police said.
A host of factors is creating a perfect storm leading to a worldwide shortage of chocolate, The Washington Post reports.
BOISE, Idaho— The U.S. Department of Agriculture has approved Idaho- based J.R. Simplot Co.' s new genetically modified potato. The fast-food giant says it doesn't use genetically modified potatoes, the Idaho Statesman reported. The USDA this month gave Boise- based Simplot permission to begin commercial planting of its new spud, called the "Innate" potato.
KANSAS CITY, Mo.— Turkey production is at its lowest level in nearly three decades and wholesale prices are at an all-time high, but Thanksgiving cooks probably won't see much difference in the price they pay at the stores for their frozen birds. It was bad, "said John Zimmerman, a farmer in Northfield, Minnesota, who produces about 300,000 turkeys a year.
Nearly 2 years after a judge ruled Hostess Brands should liquidate, it is attracting buyers for a potential billion-dollar deal. Insight, with CNBC's Kayla Tausche.
OMAHA, Neb.— Buying Duracell will provide a short-term charge for Warren Buffett's company, but the battery maker could eventually wind up being a drain on Berkshire Hathaway Inc. as consumers increasingly rely on rechargeable batteries. Duracell is being sold for roughly $3 billion because Procter& Gamble Co. doesn't consider it one of its top-performing...
BEIJING, Nov 12- U.S. companies, which have led Western investment in China over the last 35 years, are scaling back their expectations and business plans in the face of slowing growth, heightened competition and increased regulatory scrutiny from Beijing. The USCBC estimates U.S. business in China is worth about $350 billion a year, a figure that includes exports,...
Food giant Unilever is suing Hampton Creek, maker of eggless spread Just Mayo, accusing it of false advertising and fraud, the New York Times reports.
Worldwide sales at restaurants open at least 13 months were down 0.5 percent as the world's biggest fast-food chain continued to fight tough U.S. competition, the after-effects of a supplier scandal in Asia, and economic and political turmoil in Europe. Under Chief Executive Officer Don Thompson, who took the helm in July 2012, the U.S. operation is focusing on...
CNBC's Jim Cramer speaks to Gregg Engles, WhiteWave Foods chairman & CEO, about the company's record quarterly earnings and emerging trends in natural and organic food.
Nov 10- McDonald's Corp's sales fell at established restaurants in all regions last month, hurt by stiff competition in the United States and the fallout from a supplier scandal in Japan and China. Diners shunned the chain in China and Japan after a television news expose showed workers mishandling meat at a key supplier in China, and McDonald's scrambled to...
R.J. Hottovy, Morningstar, digests McDonald's falling October sales, and the company's efforts in changing consumer perceptions of the brand. Charles Kantor of Neuberger Berman, weighs in.
NEW YORK, Nov 7- Warren Buffett's Berkshire Hathaway Inc on Friday said third-quarter profit fell 9 percent as it took a large writeoff on one of its investments, but operating results easily topped forecasts amid improvement in its insurance, energy and railroad operations. Net income slipped to $4.62 billion, or $2,811 per Class A share in the third quarter,...
Many food companies are noting food inflation in their earnings data. CNBC's Bob Pisani reports which companies are facing the most pressure.
New Jersey- based Freshpet, valued at about $644 million at the day's high, is aiming to grab a bigger share of the U.S. pet care industry, estimated to be worth nearly $59 billion this year. Freshpet is unique in that it sells cat and dog food fresh, rather than in cans, using refrigerators installed in retailers such as PetSmart Inc, Petco and Wal-Mart Stores Inc.