So far no other prominent Western brand has reported extra scrutiny from the Russian authorities, but some say they are worried.» Read More
"Fast Money Halftime Report" traders Pete Najarian and Jon Najarian debate whether Chipotle or Yum! Brands makes a better investment.
SHANGHAI/ HONG KONG, July 30- When inspectors visited Shanghai Husi Food Co Ltd earlier this summer, the production line at the plant now at the centre of an international food scandal appeared in good order, with fresh meat being handled by properly-attired workers and supervisors keeping a watchful eye over the process.
Chinese McDonald's have pulled Husi's meat from shelves; now many stores are only serving fries, drinks and desserts. NBC News reports.
*China ops to come under direct control of U.S. headquarters. "This is my company and events like these have a personal toll... they simply don't represent the values I stand for or those of my company," Sheldon Lavin, the millionaire chairman, CEO and owner of Illinois- based OSI Group LLC told a news conference in Shanghai.
SHANGHAI, July 28- The head of U.S. meat supplier OSI Group, the parent company of a Chinese firm at the center of a food safety scandal, will hold a news conference in Shanghai later on Monday, as McDonald's Corp struck more meat dishes off its menus in China.
Homegrown fast food chains have long played second fiddle to Western brands in China but things may be in for a change after the latest food scare.
After 16 years, Starbucks is finally beginning to see real progress in China, and it's only the beginning, says CEO Howard Schultz.
HONG KONG, July 25- McDonald's Corp has suspended sales of chicken nuggets and other items in Hong Kong after it said it imported products from Shanghai Husi Food, the U.S.-owned Chinese company at the centre of a food safety scare in China.
SHANGHAI, July 25- Shanghai Husi Food, the U.S.-owned Chinese food supplier at the center of a meat safety scandal, won a court case earlier this year against a former quality control officer whose claims included that he was made to forge meat production dates. He said Shanghai Husi, which is owned by privately-held Illinois- based OSI Group, ignored his pleas.
HONG KONG, July 25- McDonald's Corp has suspended sales of chicken nuggets and other items in Hong Kong after it said it had imported products from Shanghai Husi Food, the U.S.-owned company at the center of a food safety scare in China.
NEW DELHI, July 25- Software engineer Sanjay Bhatnagar used to watch a new Bollywood movie every week with his family, but now goes to the cinema once a month as spiraling costs of food and other staples eat into his budget for non-essentials.
July 24- Dunkin' Brands Group Inc cut its 2014 outlook on Thursday as its U.S. doughnut shops battled fast-food rivals like McDonald's Corp and high milk prices softened profits from its international Baskin-Robbins ice cream business. The company also cited weakness in its Baskin-Robbins joint venture in Japan for the reduction in its 2014 forecast.
July 24- Dunkin' Brands Group Inc cut its full-year forecasts on Thursday, as its U.S. Dunkin' Donuts shops battled fierce competition from fast-food rivals like McDonald's Corp and as high milk prices softened profits from its international Baskin-Robbins ice cream business.
*China food regulator visits 581 food-related businesses. Shanghai police detained five people on Wednesday, including the head and the quality chief of Shanghai Husi Food, a supplier to foreign fast-food brands including KFC, McDonald's Corp and coffee chain Starbucks Corp over allegations it supplied out-of-date meat.
SHANGHAI, July 24- China's food regulator has visited close to 600 restaurants, businesses and food distributors as it investigates a fast-spreading food safety scare that has dragged in a number of global brands and hit food outlets as far away as Japan.
Adrian Hearn, Research Fellow at the University of Sydney's China Studies Centre, says enforcement and corruption issues undermine regulations on food safety in the mainland.
Yum severed ties with OSI Group after police detained five people from the supplier's meat-processing factory at the center of a food-safety scare.
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".
CHICAGO, July 23- OSI Group, the U.S.-based meat supplier at the center of a new food safety scandal in China, on Wednesday admitted to problems at a plant in Shanghai that have cost the company business with top fast-food chain Yum Brands Inc..
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.