Chinese investors are buying New Zealand farmland for the first time as economic ties with the Asian powerhouse grow ever deeper, sparking considerable anxiety in a country where livelihoods are heavily reliant on agriculture. New Zealand's government Friday approved the sale of 16 dairy farms to a company controlled by the Shanghai Pengxin Group, run by wealthy property developer Jiang Zhaobai. Pengxin hasn't revealed how much it is paying but says its total investment will be more than 200 million New Zealand dollars ($164 million).
Starbucks Corp. reported its biggest quarterly revenue gain since the recession began, but investors worried after the company issued a modest forecast for the year. The Seattle-based coffee company reported on Thursday after the stock markets closed that fiscal first-quarter revenue grew 16 percent — the largest quarterly gain since 2007. It attracted new customers by adding stores in China and Morocco, upgrading locations in the U.S. and rolling out single-serve coffee and other new items at grocery stores.
Some Washington state wheat farmers have thrown their support behind legislation requiring labeling of genetically modified foods, giving food safety advocates fresh hope that lawmakers also will get behind the bill. They haven't been receptive to the idea in the past, and lawmakers at the national level and in more than a dozen states have rejected similar proposals in the past year.
The sale of a hot dog eatery made famous on the TV series "M-A-S-H" is sizzling again. Representatives of a restaurant group told a judge Thursday that a deal to buy Tony Packo's Inc. has been revived and could be finalized in a few weeks. This comes just weeks after the same group backed out of a sale agreement.
A legal shield that has protected gray wolves in the western Great Lakes region for nearly four decades will disappear Friday when the animal leaves the federal endangered species list. With that milestone, a primal struggle that was waged in this rugged backcountry for more than a century will resume, although in a more restrained fashion.
San Jose, Calif. (PRWEB) — Worldwide grocery retail industry witnessed several trends that are anticipated to shape future growth patterns of the market. Introduction of the new retail formats (such as superstores), improvement in customer service and store design, incorporation of innovative technologies, and focus on selling ethnic and organic products are some of the trends witnessed in the industry.
ST. LOUIS (AP) — Shareholders of Monsanto Co. on Tuesday voted down a proposed study of how the company's genetically engineered crops, or GMOs, may pose financial and legal risks to the seed giant. They also reelected four of the company's directors and approved compensation packages during the annual meeting.
RALEIGH, N.C. (AP) — West Coast craft beer-maker Sierra Nevada Brewing Co. is opening a production site in North Carolina to expand its East Coast reach. The Chico, Calif.-based company said Wednesday it chose a site along the French Broad River 12 miles south of Asheville as the home of its East Coast brewery.
HUTCHINSON, Kan. (AP) — Kansas farmers have already claimed a record amount in crop insurance for losses suffered during a lingering drought last year, and the claims are expected to surpass $1 billion, a federal agriculture official said. The U.S. Department of Agriculture said in its weekly report it had paid $987.
KANSAS CITY, Kan. (AP) — Two Kansas men face federal charges accusing them of selling adulterated poultry products. A grand jury has indicted Craig Cunningham, of Leawood, and his son, Jason Cunningham, of Olathe, for allegedly conspiring to sell poultry products in 2008 that were unhealthy and unfit for human food, or prepared under unsanitary conditions.
SILVER SPRING, Md. (FDA) — A Maine food processing and storage company destroyed its cold smoked salmon product under the supervision of the U.S. Food and Drug Administration after inspectors found Listeria monocytogenes within the firm’s facility and on processing equipment Based on conditions at Mill Stream Corp.
KIRKLAND, Wash. (AP) — Bill Gates has a terse response to criticism that the high-tech solutions he advocates for world hunger are too expensive or bad for the environment: Countries can embrace modern seed technology and genetic modification or their citizens will starve. When he was in high school in the 1960s, people worried there wouldn't be enough food to feed the world, Gates recalled in his fourth annual letter, which was published online Tuesday.
NEW YORK (AP) — The city's latest public health campaign warning against diabetes features a photo of an overweight amputee — but an ad agency, not the disease, was to blame for the man's missing leg. The man's photo was digitally altered to make it appear that his right leg is missing below the knee, The New York Times reported Wednesday.
ALEXANDRIA, Va. (AP) — The first major nutritional overhaul of school meals in more than 15 years means most offerings — including the always popular pizza — will come with less sodium, more whole grains and a wider selection of fruits and vegetables on the side. First lady Michelle Obama and Agriculture Secretary Tom Vilsack announced the new guidelines during a visit Wednesday with elementary students.
PURCHASE, N.Y. (AP) — PepsiCo Inc. is announcing two weeks before it reports its quarterly results that three more of its brands have surpassed $1 billion in annual revenue. The nation's largest food and beverage maker said Thursday that Diet Mountain Dew, Brisk and Starbucks ready-to-drink beverages each hit this key measure.
NEW YORK, N.Y. (Business Wire) — Nielsen, a leading global provider of insights and analytics around what consumers watch and buy, today released a new report indicating that 59 percent of consumers around the world have difficulty understanding nutritional labels on food packaging and more than half (53%) consider themselves overweight.
BROOMFIELD, Colo. (AP) — Horizon Organic plans to boost what it pays its roughly 600 farmers as demand for organic milk and feed costs rise. Customers' prices for Horizon products will vary by retailer. Broomfield, Colo.-based Horizon says starting Feb. 1, it will pay farms an extra $2 per hundred pounds of milk.
NEW YORK (AP) — Could New York City's H&H Bagels be toast? The Wall Street Journal reports the once dominant bagel empire is on the brink of losing its final property. But H&H owner Helmer Toro says he's seeking new investors and is confident the business will survive.
NEW ORLEANS (AP) — The Louisiana Seafood Promotion and Marketing Board might use some of the $30 million it got from BP PLC to buy naming rights for the New Orleans Arena, where the NBA's Hornets play. Ewell Smith, the board's executive director, said Tuesday that he and other board officials have been working with Jack Sperling, who was appointed by NBA commissioner David Stern to oversee the Hornets when the league bought the club in late 2010.
DAVOS, Switzerland (AP) — President Barack Obama has adopted a new strategy declaring for the first time that the United States has a national security interest to protect the nation's economic goods against terrorists, criminals and natural disasters in all corners of the globe. The new U.