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SHANGHAI/ LOS ANGELES, July 21- Yum Brands Inc and McDonald's Corp are facing a new food safety scare in China, denting the fast-food companies' efforts to shore up reputations and businesses that were hurt by a 2012 safety scandal in one of their biggest markets.
McDonald's and Yum! Brands say they have stopped buying meat from a Shanghai supplier while authorities investigate allegations the supplier sold the restaurants chicken and beef past the expiration date, with CNBC's Sara Eisen.
Some of Monday's midday movers:
NEW YORK, July 21- U.S. stocks fell on Monday, following the sharpest moves in indexes in the past three months during the two previous sessions, as developments in Ukraine and Gaza continue to garner investor focus.
*EMC jumps on report of activist investor stake. NEW YORK, July 21- U.S. stocks fell on Monday, following the sharpest moves in indexes in the past three months during the two previous sessions, as developments in Ukraine and the Gaza Strip continue to garner investor focus.
CNBC's Jim Cramer and David Faber discuss how the stocks of McDonald's and Yum Brands are reacting to the shutdown of a Shanghai meat supplier used by both companies; also, problems for the Campbell Soup Company.
European leaders called for imposing tougher sanctions on Russia for its backing of separatists accused of shooting down a Malaysia Airways passenger plane in Ukraine last week. In Washington, President Barack Obama demanded that international investigators get full access to the crash site and said the separatists had blocked investigators.
According to a Shanghai television station a supplier sold McDonalds and KFC expired beef and chicken, reports CNBC's Eunice Yoon.
*McDonald's warns may face China product shortfall. *Incident highlights broader China food supply chain issues. SHANGHAI, July 21- McDonald's Corp and Yum Brands Inc are facing a new food safety scare in China, denting the fast food giants' efforts to shore up reputations and businesses that were hurt by a 2012 safety scandal in one of their biggest markets.
China's relationship with food safety has spurred another scandal, ensnaring fast-food chains which may have been duped into buying tainted meat.
BEIJING— McDonald's and KFC in China faced a new food safety scare Monday after a Shanghai television station reported a supplier sold them expired beef and chicken.
BEIJING— McDonald's and KFC in China say they have stopped using meat from a supplier in Shanghai while authorities investigate a report it sold expired beef and chicken. The report by a Shanghai television station that Shanghai Husi Food Co., Ltd. reprocessed and sold old meat adds to a string of food safety scares in China.
July 17- Yum Brands Inc's disappointing Pizza Hut and Taco Bell results, along with other data, suggested the U.S. fast-food business remained weak in the second quarter and that industry leader McDonald's Corp continues to struggle. The fast-food guys are stuck, " Investment Technology Group restaurant analyst Steve West said.
U.S. stock index futures traded lower on Thursday, after the announcement of fresh sanctions against Russia hurt global markets.
Some of the names on the move ahead of the open.
RJ Hottovy, Global Director of Consumer Equity Research at Morningstar, says markets are concerned about Yum Brands' Pizza Hut division in China after disappointing quarterly sales.
King Lip, Chief Investment Officer, Baker Avenue Asset Management, explains why he's impressed with the firm's performance in China, where sales rose 15 percent in the second quarter.
July 16- Yum Brands Inc on Wednesday said its KFC business bounced back in China, its No. 1 market, but its stock fell more than 2 percent in extended-hours trading on disappointing quarterly results from its India, Taco Bell and Pizza Hut divisions.
Check out which companies are making headlines after the bell Wednesday: EBay, Yum! Brands, SanDisk & more.
KFC parent Yum Brands Inc on Wednesday said second-quarter sales at established restaurants in China, its No. 1 market, jumped 15 percent