Food Products
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ST. LOUIS-- Cereal maker Post Holdings' fiscal second-quarter net income fell 59 percent as it paid more in interest and its prices dropped. For the period ended March 31, Post _ whose cereal brands include Honey Bunches of Oats and Grape-Nuts _ earned $4.3 million, or 13 cents per share. That compares with $10.5 million, or 30 cents per share, a year earlier.
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The protests in the Motor City- which is struggling to recover from the hollowing out of its auto manufacturing sector- marked an expansion in organized actions by fast-food workers from ubiquitous chains owned by McDonald's Corp, Burger King Worldwide and KFC, Taco Bell and Pizza Hut parent Yum Brands Inc..
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MONTPELIER, Vt.-- The Vermont House has approved legislation calling for labeling of food products containing genetically modified organisms. Thursday's vote came after the House spent most of the day debating a measure that will not see final action this year because the Senate lacks time to take it up.
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JAKARTA, May 10- The president of Indonesia, home to the world's third-largest tropical forests and a powerful palm oil industry, has agreed to extend a ban on forest clearing, a government official said on Friday.
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*Croatia four years in recession. DUBROVNIK, Croatia, May 10- The barren Srdj plateau overlooking the mediaeval city of Dubrovnik is a real estate developer's dream, offering breath-taking views of Croatia's top tourist destination.
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IRVING, Texas-- Darling International Inc.' s shares jumped 6 percent in after-hours trading Thursday after the food recycling company reported better-than-expected revenue. Darling said that it earned $32.4 million, or 27 cents per share, for the quarter that ended March 30.
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WESTLAKE VILLAGE, Calif.-- Dole Food Company Inc. said Thursday that it will buy back up to $200 million of its shares. Dole, based in Westlake Village, Calif., sells fruit and vegetables around the globe. Its shares jumped 50 cents, nearly 5 percent, to $10.93 per share on the news.
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Wrigley has temporarily halted the production of its Alert caffeinated gum as the FDA's investigates the safety of caffeine-added foods.
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After the deadly Bangladesh building collapse, some retailers are sharing information about how their products were made. The NYT reports.
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TORONTO, May 8- Tim Hortons Inc named a long-time Nestle executive as its new chief on Wednesday, a job that will be no easy task given drooping demand at the Canadian coffee and doughnut chain and a push by a U.S. hedge fund for better returns.
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Green Mountain announced it's extending its partnership with Starbucks and delivered earnings that topped expectations. GMCR shares jumped after-hours.
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*Wendy's Q1 restaurant sales fall short, loses ground on "value". May 8- McDonald's Corp, Wendy's Co and other U.S. restaurants are battling for the attention of frugal diners with coupons, limited time offers and other promotions- a fight that could intensify if the costs of chicken and other key ingredients remain less pricey than feared.
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Just a quarter of the corn crop normally planted by this time of year is in the ground, but this could still be a bumper crop if the weather cooperates.
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*Senate committee to debate immigation bill on Thursday. WASHINGTON, May 8- Foreign workers could gain visas for year-round work in U.S. meat processing plants under a proposal by the meat industry and the meatpackers union for immigration reform designed to create a steady supply of workers for slaughterhouses.
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TORONTO, May 8- Tim Hortons Inc named a long-time Nestle executive as its new chief executive on Wednesday, a job that comes with tall tasks given drooping demand at the Canadian coffee and donut chain and a U.S. hedge fund pushing for better returns.
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*Wendy's Q1 restaurant sales fall short, loses ground on "value". *Taco Bell promotes $1 food deals.
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*Europe same-restaurant sales fall 2.9 percent. May 8- McDonald's Corp's April sales at established restaurants declined slightly more than analysts had expected as it faced tougher times in Europe, Asia/Pacific, Middle East and Africa.
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SINGAPORE, May 8- Shares of Wilmar International Ltd rose as much as 3 percent in early trade on Wednesday after the Singapore palm oil firm posted a 23 percent rise in first-quarter net profit, largely due to a recovery in its oilseeds and grains segment.
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SE ASIA STOCKS-Malaysia up on post election rally; Thai SET index hits 1,600 STOCKS TO WATCH-- WILMAR INTERNATIONAL LTD. -Singapore palm oil firm Wilmar posted a net profit of $315.4 million in the first quarter, up 23.3 percent from a year earlier.
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SINGAPORE, May 8- Singapore palm oil firm Wilmar International Ltd reported a 23 percent rise in first-quarter net profit on Wednesday, largely due to a recovery in its oilseeds and grains segment.