Americans increased their spending in September at twice the rate that their income grew, a sign of confidence in the economy. Still, consumers made up the difference by saving less for a third straight month, a troubling trend. The Commerce Department said Monday that consumer spending increased 0.8 percent in September from August.
Burger King's net income fell 83 percent in the third quarter as the world's second biggest hamburger chain sold off more of its restaurants to franchisees as part of a turnaround push. But the company's adjusted results topped Wall Street expectations, and its shares advanced.
Shares of organic dairy company WhiteWave Foods slipped on their first day of trading on the New York Stock Exchange. The stock, which was priced at $17, closed at $16.75 Friday after rising as high as $19.17 in early trading. WhiteWave Foods Co. sells Horizon organic milks and plant-based dairy alternatives, such as Silk Soymilk.
The worst drought in decades didn't just shrivel corn and soybeans. It shrank economic growth too. The government said Friday that the U.S. economy grew at a modest 2 percent annual rate from July through September. And the crop-killing drought reduced growth by 0.4 percentage points.
Canada's agriculture minister says federal officials are looking at issues surrounding mechanically tenderized meat in the wake of a massive E. coli-related beef recall from Alberta's XL Foods. Gerry Ritz was in Regina on Friday and reporters asked him about the process, in which lesser cuts of steak are pressed with steel blades and needles to make them tender.
The Hain Celestial Group closed on its acquisition of Premier Foods PLC's lineup of packaged grocery brands for about $321 million in cash and stock, the natural and organic food company said Monday. The deal includes a handful of brands that cover a range of products such as peanut butter, honey, jams, fruit and jelly, marmalade and chocolate.
Two U.S. senators on Friday again called on federal regulators to close what they say are loopholes that allow energy-drink makers to sell products with additives and high levels of caffeine that the lawmakers say have not been proven safe.
Peanut butter prices soared last year after a drought and high heat in the Southeast, where most peanuts are grown. This year, that region got a break while farmers in most of the rest of the United States suffered huge losses in the widest drought in decades.
Hershey reported a 10 percent drop in third-quarter net income as one-time charges led to the first such decline in four quarters, but it raised its profit outlook for the whole year. The maker of Reese's Pieces, Hershey's Kisses and Jolly Ranchers earned $176.7 million, or 77 cents per share in the three-month period ended Sept. 30.
McDonald's will start selling bags of ground coffee at its restaurants in Canada next month, a move that could spread to other regions around the world if successful. The world's biggest hamburger chain says the ground coffee will be available in the majority of its 1,400 stores by Nov. 8.
The Coca-Cola Co. and its bottlers say they're more than doubling their investment in Vietnam over the next few years, as the world's biggest beverage maker intensifies its push to capitalize on emerging markets. The Atlanta-based company said Friday that it will invest an additional $300 million in Vietnam over the next three years.
Diamond Foods Inc. said Thursday that it will restate two additional quarters of financial data as the snack food company tries to clean up the fallout from its improper accounting of payments to walnut growers. The company launched an internal investigation last year that ultimately found the company improperly accounted for payments to walnut growers in 2010 and 2011.
Sterling-Rice Group has identified the top ten food trends that will be served on restaurant menus and line the supermarket shelves across the U.S. in 2013. With a breadth and depth of culinary experience, the brand strategy, innovation, and creativity firm has counseled and created foods for several of the largest food companies in the world.
The worst U.S. drought in decades showed little sign of easing last week as farmers closed out their corn and soybean harvests and turned their attention to winter wheat, which has been struggling to break through the moisture-starved soil in some states, according to a weekly report.
The new managers of XL Foods Inc. are taking immediate steps to ensure the troubled plant meets requirements that will allow it to continue operations. Bill Rupp, CEO of JBS USA's North America and Australia beef business, says the first goal is getting the plant up and running and after that, management will consider whether to move forward with purchasing the plant.
While the Fall Classic between the San Francisco Giants and Detroit Tigers pits clubs from two very different cities, the distinctive style and taste of each team's partisans also pours through the beer taps at their ball yards. San Francisco's craft beer obsession is on full display at the Public House, a ball yard bar on Willie Mays Plaza just outside the stadium's main entrance.
Lawyers for ABC News are asking to have a defamation lawsuit against the company filed by a South Dakota beef processing plant transferred from circuit court to federal court. Beef Products Inc. sued ABC News Inc. for defamation over its coverage of a meat product that critics dub "pink slime."
Radioactive cesium levels in most kinds of fish caught off the coast of Fukushima haven't declined in the year following Japan's nuclear disaster, a signal that the seafloor or leakage from the damaged reactors must be continuing to contaminate the waters — possibly threatening fisheries for decades, a researcher says.
While the Fall Classic between the San Francisco Giants and Detroit Tigers pits clubs from two very different cities, the distinctive style and taste of each team's partisans also pours through the beer taps at their ball yards.
Gov. Andrew Cuomo said state government will put the promotion of beer, wine and liquor made in New York "on steroids" to boost jobs and help the small, yet growing industries. Cuomo met with farmers, orchard growers, beer breweries and distillers of whisky, vodka, brandy and vermouth Wednesday in Albany for a "Wine, Beer and Spirits Summit."