Agriculture Commissioner Mike Strain will borrow up to $7 million to take control of a defunct sugar cane mill in southwest Louisiana that was built with state tax dollars and only operational for 90 days. Strain received approval Thursday from the Bond Commission to borrow the money through a bond sale and repay it over 10 years.
Monster Beverage Corp.'s stock was buffeted Thursday by the news that the Food and Drug Administration is investigating deaths potentially tied to a competitor's product. The Corona, California-based company's stock fell more than 5 percent in early trading.
"Many people have worked incredibly long and hard to keep this from happening, but now Hostess Brands has no other alternative than to begin the process of winding down and preparing for the sale of our iconic brands," CEO Gregory Rayburn said in a letter to employees posted on the company website.
The plant at the center of an extensive beef recall has resumed shipping products for the first time since an E. coli outbreak forced its closure in September. The union representing workers at the XL Foods Inc. plant in Brooks, Alta., says the shipments include a full range of products, including ground beef and steaks.
A New Mexico peanut company linked to a recent salmonella outbreak distributed peanut and almond butters after its own internal testing showed the products were contaminated, the Food and Drug Administration says. Sunland Inc. is the nation's largest organic peanut butter processor, though it also produces many non-organic products.
Hostess Brands Inc. says it's going out of business after striking workers across the country crippled its ability to make its Twinkies, Ding Dongs, Wonder Bread and other snacks. The company had warned employees that it would seek to shutter its operations and sell assets if plants didn't resume normal operations by a Thursday evening deadline.
Europe's companies should be required to have more women in the boardrooms — not just because it is fair but as it also makes good business sense, the European Union's executive branch said Wednesday. Commissioner Vice President Viviane Reding told reporters the target is to have women comprise at least 40 percent of the non-executive directors of publicly traded European companies by 2020.
Minnesota agriculture officials are phasing out a federally funded program that allows them to test produce for contaminants like E. coli and salmonella. The USDA's Microbiological Data Program had operated in 11 states, including Minnesota.
First the French government went after the rich. Now it has it in for Nutella. Despite an outcry in support of the beloved chocolate and hazelnut spread, the Senate passed a measure Wednesday that would triple the tax on palm and some other vegetable oils in the hope of cutting down on obesity.
BP said Thursday that it will pay $4.5 billion in a settlement with the U.S. government over the disastrous 2010 oil spill in the Gulf of Mexico and plead guilty to criminal charges related to the deaths of 11 workers and lying to Congress.
The Food and Drug Administration is investigating reports of 13 deaths possibly linked to so-called "energy shots" and cautioning consumers to talk to their doctors before they take them or other energy drinks. The agency has received 92 reports that cite illnesses, hospitalizations and deaths after consumption of a product marketed as 5-Hour Energy.
To delve deeper into turkey day trends, Baskin-Robbins commissioned a nationally-representative, independent survey of 1,005 Americans. The survey revealed that six in 10 Americans (59%) usually bring dessert to their Thanksgiving meal when dining as guests.
Restaurant industry sales trends may be signaling that the U.S. is already in a recession, according to a Cowen and Co. industry report out Wednesday. Analyst Paul Westra said that key sales trends are starting to slow in the quick-service restaurant industry and that spells bad news for the overall economy.
Diamond Foods Inc. effectively wiped away $56.5 million in profit from its books Wednesday after it restated two full years of results. The San-Francisco based snack company is restating its results for 2010 and 2011 after an internal investigation last year found that the company improperly accounted for payments to walnut growers, which skewed its financial results.
Americans get too many calories from soda. But what about alcohol? It turns out adults get almost as many empty calories from booze as from soft drinks, a government study found. Soda and other sweetened drinks — the focus of obesity-fighting public health campaigns — are the source of about 6 percent of the calories adults consume, on average.
The Seattle-based company said Wednesday that it will pay $620 million in cash to buy Teavana Holdings Inc., which sells high-end loose leaf teas in 300 shopping mall locations. The plan is to grow Teavana's footprint beyond the suburban mall with stand-alone shops around the world, while adding tea bars where customers can buy hot and cold drinks.
Three companies have agreed in a settlement to pay more than $213,000 in back wages to hundreds of foreign students for summer jobs they held at a Hershey candy company facility, the U.S. Department of Labor said Wednesday. The settlement also requires two of the companies to pay fines totaling $148,000.
Americans get too many calories from soda. But what about alcohol? It turns out adults get almost as many empty calories from booze as from soft drinks, a government study released Thursday, Nov. 15, 2012 found.
Pinnacle Foods Group LLC a Fort Madison, Iowa establishment, is recalling approximately 90,975 pounds of bourbon barbecue sausage products because they may have been underprocessed, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today.
The Pork Checkoff’s event trailer traveled to the East Coast last week to assist in feeding victims of Hurricane Sandy, the largest Atlantic hurricane on record to hit the northeast coast. The hurricane hit New York and New Jersey especially hard, flooding numerous streets, tunnels and subway lines, as well as cutting off electricity to parts of the city and its suburbs.