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Underlying sales at Nestle grew 4.1 percent in the first half, missing forecasts and lagging growth of rivals Danone and Unilever, as price erosion continued in Europe.
Jon Cox, head of Swiss research at Kepler Cheuvreux, tells CNBC that the problem for Nestle is the deceleration in emerging markets.
China fined six companies including New Zealand dairy giant Fonterra a total of $110 million following an investigation into price fixing and anti-competitive practices by foreign baby formula makers.
New Zealand's Fonterra said it had found that an ingredient in its dairy products that contained a strain of a bacteria which can cause botulism, prompting China to recall affected products.
Pfizer reported earnings slightly ahead of forecasts, as the largest U.S. drugmaker lines up a business split that could lead to the spin-off of its generics division.
Mark Howden, managing director at Nomura, explains why his "long term love affair" with consumer staples remains intact and why he is bearish on Nestle in the short term.
China is using "concerted" probes of foreign baby formula, pharmaceutical and packaging companies to bolster domestic firms, according to observers.
Chinese authorities are investigating a possible price-fixing for infant formula milk, as consumers pay premiums for imported products on fears that local ones may be contaminated.
European shares were higher in early afternoon trade on Wednesday despite preliminary growth data from the euro zone missing estimates.
Family-run firms are shaking up the consumer deals market, squeezing out private-equity firms and forcing them to change strategy.
Slower economic growth is dulling the outlook for equities, but consumer sector stays appealing in the long term.
European shares closed mixed on Thursday, after a rally in technology shares was curbed when Nokia released disappointing earnings. Yet more weak U.S. data also weighed on investor sentiment.
Sales growth at food group Nestle slowed to 4.3 percent in the first quarter, as demand in emerging markets slowed further and cold spring weather hit bottled water and ice-cream sales.
German investor Joh A Benckiser (JAB) is to buy the owner of Douwe Egberts coffee in a 7.5-billion-euro ($9.8 billion) deal to create a global hot drinks empire.
The "astonishing" growth of the middle class in emerging markets is benefiting General Mills and creating jobs in the U.S., CEO Ken Powell told CNBC's "Street Signs" on Thursday.
The New Mexico company, Valley Meat, drew complaints over a two-year period from federal inspectors and state regulators over its disposal of remains when it processed cattle for beef. The New York Times reports.
Norway's oil fund almost halved its exposure to UK and French government bonds last year while increasing it to debt from the US, Japan and Germany. The FT reports.
The USDA is likely to approve a horse slaughtering plant in New Mexico in the next two months, which would allow equine meat suitable for human consumption to be produced in the United States for the first time since 2007. The NY Times reports.
Low consumer confidence in Europe will remain a drag on profits for Nestle , chief executive Paul Bulcke told CNBC on Thursday after group said it expected 2013 to be as challenging as 2012.
Paul Bulcke, CEO of Nestle, tells CNBC that he is confident of building on a 'broad base' of growth, despite Nestle reporting their slowest annual growth rate in three years on Thursday.