Bank officials say an auction of equipment at a failed sweetener plant in Moberly has so far raised less than 5 cents for every dollar spent to finance the project. UMB Bank, the bondholder trustee for Mamtek U.S. Inc., said the Oct. 24 auction raised $1.8 million, but not every buyer at the auction has paid for their purchases.
Shares of energy drink maker Monster Beverage Corp. tumbled in aftermarket trading Wednesday after the company said its revenue growth slowed in the third quarter. Monster said its net sales grew 14 percent, about half the pace of growth in the previous three quarters. Its revenue fell $36.5 million short of Wall Street's expectations.
U.S. Attorney David Hickton of Pittsburgh said the largest financial penalty ever imposed in the 25-county federal court district in western Pennsylvania resolves allegations that Krones Inc., of Franklin, Wis., helped Le-Nature's officials deceive lenders about the cost of bottling equipment the soft-drink company bought from Krones.
Americans born between 1977 and 1992 comprise the largest and most influential generational cohort since the Baby Boomers. As this group transitions into careers, marriage and raising children, restaurant operators and countless other businesses all want to know how to make important in-roads with Millennials, while continuing to appeal to other key segments of the population.
Wendy's reported a wider net loss for the third quarter that fell short of Wall Street expectations, but a key sales figure rose. The company, which is in the middle of a turnaround push, said Thursday that revenue at restaurants open at least 15 months rose 2.7 percent, marking the sixth straight quarter of growth.
A United Nations agency says prices for basic foods fell by 1 percent last month, led by lower prices for cereals, oils and fats, further assurance that fears of high prices leading to rioting aren't bearing out. The Food and Agriculture Organization said the trend in lower prices would likely mean the 2012 bill for importing food around the world would be $1.14 trillion.
Taco Bell wants to become destination for snack-starved younger people, not just a place to get burritos for lunch or dinner. The Mexican-style chain plans to announce this week an expansion of its sweet treats menu, with the addition of churros and cookie sandwiches to its current lineup of cinnamon twists and caramel apple empanadas.
Mondelez International Inc. said Wednesday its net income fell in the third quarter, as revenue took a hit from the stronger dollar in its first quarter as an independent company. Mondelez, formerly known as Kraft Foods Inc., makes snacks including Oreo cookies, Cadbury and Nabisco. It spun off its North American grocery business and changed its name Oct. 1.
As employees return to work Thursday at a chicken-processing plant that was the scene of a fatal workplace shooting, authorities and co-workers puzzled over what set off an ex-convict whose record had included mostly nonviolent crimes. Lawrence Nathaniel Jones, 42, had been in and out of prison since 1991 for crimes ranging from armed robbery to a car theft.
The items are part of the chain’s plans to become a snacking destination for people in their 20s. The Mexican-style chain plans to announce this week an expansion of its sweet treats menu, with the addition of churros and cookie sandwiches to its current lineup of cinnamon twists and caramel apple empanadas.
The Kroger Co. said today it is recalling select containers of Kroger Deluxe French Vanilla Ice Cream sold at the company’s Dillons, King Soopers/City Market, Fry’s Food and Smith’s Food & Drug operating divisions in 11 states because it may contain pecans not listed on the label.
Horizon Milling today announced it will begin producing whole wheat flour at its facility in Kenosha later this fall. When the project is complete, Horizon Milling will have doubled its current overall whole wheat flour capacity.
Researchers with the University of Michigan's School of Natural Resources and Environment are leading a five-year, $4 million study of disparities in access to healthy food across the state. The researchers with the Ann Arbor school plan to interview residents and study data in small- to mid-sized cities to better understand factors affecting so-called food security.
Shares of Molson Coors Brewing Co. fell Wednesday after the maker of Coors Light and Miller Light said it saw a decline in demand across its businesses during the third quarter and warned that the current quarter could be its toughest of the year.
Innova Market Insights' ongoing analysis of trends and developments in new product activity has resulted in its identification of 10 key emerging trends likely to impact the food and drinks market through 2013 and beyond. Successful previous predictions have included the emergence of interest in naturalness and sustainability as long ago as 2008 and the return to softer claims for 2011.
That Lawrence Jones targeted a handful of his co-workers at a chicken-processing plant, killing two of them execution-style, was evident, authorities said. But why he did it remained unclear. "He had opportunity to shoot other co-workers that were in the business at this time, but he chose not to," Fresno Police Chief Jerry Dyer said.
Increasing demand for SodaStream's fizzy drink makers lifted the company's third-quarter net income 66 percent. Shares jumped after it raised its forecast for the year. The company said revenue increased by a third in Western Europe and climbed 61 percent in the Americas. Revenue overall rose 49 percent to $112.5 million, topping analysts' average expectation of $104 million.
Kraft Foods' net income rose 13 percent in the third quarter, the food maker said Wednesday, as new products and increased advertising helped it top Wall Street expectations. The company, which makes Oscar Mayer, Maxwell House coffee and Miracle Whip, also stood by its forecast for 2013.
As the biggest seafood market in the world, the Tokyo Metropolitan Central Wholesale Market is a top sight for tourists visiting Japan. But if you want to catch the rapid-fire auction where giant tuna sell for hundreds to hundreds of thousands of dollars, you need to get to the market at about 4 a.m.
After being outspent ten-to-one by chemical and food company giants working to keep American citizens in the dark about their food, the California Right to Know-Yes on Proposition 37 campaign for GMO labeling was defeated at the ballot box, but defiantly set the stage for bringing the fight for our right to know, a core American value, to the federal level.