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Today in Food Manufacturing

Daily news and top headlines for food manufacturing professionals

Burger King’s Profit Down Amid Turnaround Push

October 29, 2012 12:46 pm | by CANDICE CHOI,AP Food Industry Writer

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.

WhiteWave Shares Slip On First Day Of Trading

October 29, 2012 9:44 am

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.

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How The Drought Is Affecting The Economy

October 29, 2012 9:42 am | by MARCY GORDON and PAUL WISEMAN,AP Business Writers

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.

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Canada Ag Minister Talks About Labels For Tenderized Beef

October 29, 2012 9:41 am | by The Canadian Press

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.

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Hain Closes $321M Deal For Premier Foods Brands

October 29, 2012 9:39 am

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.

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U.S. Senators Ask FDA To Act On Energy Drinks

October 29, 2012 9:37 am

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.

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Bumper Crop Could Mean Falling Peanut Butter Prices

October 26, 2012 12:31 pm | by GREG SCHREIER,Associated Press

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.

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Hershey Raises Profit Outlook

October 26, 2012 12:28 pm

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.

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McDonald’s To Sell Ground Coffee In Canada

October 26, 2012 12:26 pm | by CANDICE CHOI,AP Food Industry Writer

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.

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Coca-Cola Steps Up Investment In Vietnam

October 26, 2012 12:23 pm

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.

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Diamond Foods To Restate More Financial Results

October 26, 2012 12:21 pm

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.

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Consumer Trends: Top Food Trends For 2013

October 26, 2012 12:18 pm

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.

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Drought Hangs On As Harvest Wraps Up

October 26, 2012 9:48 am | by JIM SUHR,AP Business Writer

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.

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New Managers Take Action At XL Foods

October 26, 2012 9:46 am | by The Canadian Press

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.

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What’s On Tap For Giants, Tigers Fans?

October 26, 2012 9:45 am | by JASON DEAREN and MIKE HOUSEHOLDER,Associated Press

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.

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ABC News Wants ‘Pink Slime’ Case In Federal Court

October 26, 2012 9:40 am

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."

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Cesium In Fish Off Fukushima Not Declining

October 26, 2012 9:37 am | by MALCOLM FOSTER,Associated Press

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.

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Photo Of The Day: World Series Brews

October 26, 2012 9:35 am

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.

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New York Gov’t To Boost Beer, Wine And Liquor Sales

October 25, 2012 12:56 pm | by MICHAEL GORMLEY,Associated Press

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."

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UK To Introduce New Food Labeling System

October 25, 2012 12:54 pm

The UK Government has announced that by 2013 a new consistent front-of-pack food labeling system is to be introduced. The new system is still voluntary but the UK government is confident that the food industry will utilize the new system. Plans are to amalgamate the existing colour coded traffic lights and guideline daily amounts used.

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