ADM said it is buying food flavors and specialty ingredients company Wild Flavors for 2.2 billion euros ($3 billion) in cash.» Read More
July 23- Eight months ago in front of a crowd of food industry executives gathered at a fancy Chicago hotel, a top McDonald's Corp executive lauded the boss of meat supplier OSI Group for his dedication to the fast-food giant's "McFamily".
NEW YORK, July 23- A U.S. federal judge on Wednesday dismissed a shareholders' lawsuit claiming JPMorgan Chase& Co board members knew about Bernard Madoff's Ponzi scheme and ignored red flags signaling his massive fraud.
WASHINGTON, July 23- The U.S. ethanol industry pushed back on Wednesday against what they called a "one size fits all" approach to proposed federal rules for shipping fuel by rail, saying regulators must distinguish between the often corn-based biofuel and crude oil.
WASHINGTON, July 23- U.S. regulators and 15 states announced a wave of lawsuits on Wednesday against law firms and mortgage assistance companies they said have scammed borrowers since at least 2011 by falsely promising home loan modifications and other foreclosure relief.
OSI Group, a privately-held company based in Aurora, Illinois, was thrust into the spotlight this weekend when a Chinese TV station reported that one of its Shanghai plants repackaged old beef and chicken and slapped new expiration dates on them.
The U.S. appliance maker said its sales in China plummeted 80 percent last quarter as retailers in that country, anticipating its pending merger with Hefei Rongshida Sanyo Electric Co and the new line the merged entity will produce, stopped buying Whirlpool-branded products.
SHANGHAI/ LANGFANG, China, July 23- Yum Brands Inc's China division severed ties to OSI China after Shanghai police detained five people from that supplier's meat processing factory at the center of a food safety scare that has ensnared several major Western brands.
HAMBURG/ FRANKFURT, July 23- Hamburg has told Uber, a U.S. car service whose smartphone app summons rides at the touch of a button, to stop operating in the German city, adding to resistance the company has faced globally from local regulators and taxi drivers.
The public-private partnership includes companies, the University of Michigan, Ohio State University and research institutions. The institute will contribute to economic development in Michigan, Ohio, Indiana, Tennessee and Kentucky over the next five years, according to officials.
WASHINGTON— At 91, Bob Dole won't take no for an answer. Veterans groups, organizations for the disabled and a handful of the Senate's strongest proponents joined Dole in stepping up the pressure for a Senate vote. Dole, who celebrated his 91st birthday on Tuesday, sat through the Capitol Hill news conference and spoke forcefully about the treaty.
July 23- Whirlpool Corp on Wednesday reported a lower-than-expected quarterly profit as sales fell in every region except North America. The company posted second-quarter earnings of $179 million, or $2.25 a share, down from $198 million, or $2.44 a share, a year earlier.
The drugmaker Shire plans to spend about $225 million in a joint effort with a privately held, U.S. firm to develop a potential treatment for the rare and life-threatening genetic disorder Hunter syndrome.
Increased production of passenger jets helped push up Boeing's profit by 52 percent in the second quarter, topping Wall Street's expectations. The Chicago- based company said net income increased to $1.65 billion, or $2.24 per share, from $1.09 billion, or $1.41 per share, in the same quarter a year ago.
CHICAGO, July 23- As U.S. farmers turn in record grain crops this autumn, many will have a powerful new tool- giant sausage-shaped storage bags- to help them avoid the lowest prices in years and gain more control over trade with giants such as Cargill Inc..
July 23- Whirlpool Corp on Wednesday reported a lower quarterly profit as sales fell in every region except North America. The world's largest maker of home appliances posted a second-quarter profit of $179 million, or $2.25 a share, down from $198 million, or $2.44 a share, a year earlier.
SHANGHAI, July 23- Shanghai police said on Wednesday they detained five people in an investigation into a Chinese-based supplier of foreign fast-food brands, including KFC, McDonald's Corp and coffee chain Starbucks Corp, over allegations the firm supplied old and rotten meat.
WASHINGTON— The Obama administration is developing a new way for religious nonprofits that object to paying for contraceptives in their health plans to opt out, without submitting a form they say violates their religious beliefs.
CALGARY, Alberta, July 22- Canada's largest pipeline company Enbridge Inc may build a 140,000 barrel per day unit train unloading terminal in Pontiac, Illinois, to relieve congestion on its crude oil export network.
LOS ANGELES— Discover Financial Services' net income grew 7 percent in the second quarter as credit card spending and overall loans increased from a year ago. The results beat Wall Street's expectations.
July 22- McDonald's Corp feels "a bit deceived" by the audit it received for Shanghai Husi Food Co Ltd, a China supplier that was shut down this week after a TV report showed workers mishandling meat, Chief Executive Don Thompson said on Tuesday.