LOUISVILLE, Ky. (AP) — Though it is craving a repeat of its 2010 performance, the owner of the Pizza Hut, Taco Bell and KFC chains is facing distasteful developments: inflation in China and a lawsuit challenging a staple ingredient at Taco Bell. Yum Brands Inc. executives said on a conference call with investors Thursday that they're bracing for commodity and wage inflation in the company's fast-growing China operation, its most profitable.
PORTLAND, Oregon (AP) — Kellogg Co.'s fourth-quarter net income climbed 7 percent despite falling volumes as the world's biggest cereal maker lowered costs and raised prices. It was a difficult and disappointing year for Kellogg, which struggled with intense competition, lower cereal sales and major food recalls.
SPRINGDALE, Arkansas (AP) — Tyson Foods' net income jumped 86 percent jump its fiscal first quarter, helped by improving chicken sales and rising prices for beef and pork, the meat producer said Friday. Tyson shares climbed 8 percent to $18.95 in premarket trading Friday. The improvement is a strong signal the meat producer, based in Springdale, Arkansas, has recovered from an industry downturn brought on by a combination of higher production costs and slumping demand as shoppers cut spending.
MILWAUKEE (AP) — A Wisconsin meatpacking company has agreed to pay $1.65 million to settle a sex-discrimination lawsuit accusing it of rejecting 970 female applicants over a two-year period, the U.S. Labor Department said Thursday. Green Bay Dressed Beef LLC will pay the money in the form of back pay, benefits and interest, Labor Department spokesman Scott Allen said.
(AP) —In this publicity image released by Milk Processor Education Program, football players Hines Ward, left, of the Pittsbugh Steelers, and Aaron Rodgers, of the Green Bay Packers are shown in the 14th annual Milk Mustache Super Bowl ad. The Packers and the Steelers meet in NFL football's Super Bowl XLV on Sunday in Arlington, Texas.
ST. LOUIS (AP) — Agribusiness conglomerate Archer Daniels Midland said Tuesday its second fiscal quarter profit jumped 29 percent as a recovery in the ethanol industry and growing demand for grains boosted revenue and profit margins. The results easily beat Wall Street expectations, and Archer Daniels Midland's shares climbed $2.
(American Meat Institute) -- A new conference that will bring together trade associations and professional societies whose members fund and conduct meat and poultry research on behalf of the industry is slated for November 1-2, 2011, in Kansas City. Mo. to Attendees will discuss research priorities, share research results and look at future needs in an effort to improve the industry’s overall research program.
(Cornucopia Institute)-- USDA Secretary Tom Vilsack announced that the agency will fully deregulate Monsanto’s controversial genetically engineered alfalfa. The choice was favored by the biotech industry and one of three options identified in the USDA’s Final Environmental Impact Statement (FEIS) released last month.
ALBUQUERQUE, N.M. (AP) — A federal judge has entered a consent decree, ordering the condemnation and destruction of chili products found inside a rodent-infested warehouse in Derry, N.M. U.S. District Judge M. Christina Armijo entered the decree Monday. In December, U.S. Food and Drug Administration agents seized the chili pods, ground chili and other products at the facility owned by Duran and Sons LLC in Derry, a farming community north of Hatch in southern New Mexico.
NEW ORLEANS (AP) — BP's decision to resume paying dividends rankled Gulf Coast residents Tuesday who saw it as another sign the company wants to move on even though many are still suffering from last year's massive oil spill. Oil stains linger in marshes along Louisiana's fragile coast and tens of thousands of victims are waiting for final payments from a $20 billion compensation fund, while a large number of people haven't received any money at all.
MINNEAPOLIS (PRNewswire) -- Cargill today announced a partnership with Kansas State University (KSU) for the construction of the Cargill Center for Feed Safety Research. The facility, built in part from a $500,000 grant from Cargill, will conduct studies to address current food and feed safety issues facing the animal feed industry.
WASHINGTON (AP) — You should eat less salt, the government says. A lot less. It won't be easy. Consumers will need help from food companies if they are going to meet the government's ambitious new goals, announced Monday, for half of Americans to reduce the amount of salt they eat by more than half.
NEW ORLEANS (AP) — A marketing survey commissioned by Louisiana's seafood promotion board shows more than 70 percent of consumers polled nationally express some level of concern about seafood safety following the BP oil spill, and 23 percent have actually reduced their consumption. The figures, a mixed bag of good and bad news for the seafood industry, are the result of online canvassing of a thousand households in December — the first of three "waves" of such research that will help the board craft a public relations message.
LOUISVILLE, Ky. (AP) — KFC and its franchisees have been told to cooperate on advertising strategies by a judge's ruling Monday that delves into the fried-versus-grilled dispute at the world's most popular chicken-restaurant chain. The franchisees argued in the non-jury trial in Delaware Chancery Court that their KFC National Council and Advertising Cooperative had authority to develop advertising plans as well as to modify those offered by KFC.
SMITHFIELD, Va. (AP) — A Smithfield Foods facility in Virginia that produces barbecued ribs, stews and soups will close next month. Vice president for human resources Jeff Gough told The Virginian-Pilot that the closure of the Ham and Products Facility in Smithfield won't affect consumers.
(AP) — Health and Human Services Secretary Kathleen Sebelius,left, and Agriculture Tom Vilsack, take part in a news conference at George Washington University in Washington, Monday, Jan. 31, 2011, announcing new dietary guidelines to help Americans make healthier food choices and confront obesity epidemic.
SAN FRANCISCO (AP) — Starbucks CEO and founder Howard Schultz's compensation rose nearly 45 percent to $22 million in fiscal 2010 as the company roared back from the recession with rising revenue and profit nearly twice 2009's. Schultz, who had left the company but returned during the recession to lead its turnaround, got a salary of $1.
AP Business Writers Taco Bell says a legal beef over the meat in its tacos is bull. The fast-food chain took out full-page ads in at least nine major newspapers and launched a YouTube campaign featuring its president Friday to proclaim its taco filling is 88 percent beef. A false-advertising lawsuit filed last week that caused an online stir alleges the company's filling doesn't have enough beef to be called that.
Associated Press LEWISTON, Maine (AP) — Canned beer isn't just for swilling anymore. Baxter Brewing in Maine has joined a growing number of small craft-beer breweries distributing their brews in cans — just like mainstream mass-produced beers — rather than in bottles. A decade ago, it's believed there weren't any U.