With looming legal deadlines related to the 2010 BP oil spill, dozens of shrimp processors along the Gulf Coast face a difficult dilemma, with either decision having the potential to jeopardize the future of their businesses and the region’s seafood industry, according to the American Shrimp Processors Association.
France, the land of wine, is planning heavy taxes on beer, and that is not going down well with brewers — even in other nations. President Francois Hollande is pushing through legislation to increase taxes on beer by 160 percent to help fund struggling social programs as France tries to contain a budget deficit hit hard by the economic crisis.
Former Anheuser-Busch CEO August Busch IV will pay $1.75 million to settle a wrongful death lawsuit filed over his ex-girlfriend's accidental drug overdose death under an agreement approved Tuesday. The St. Louis Post-Dispatch reported that the money will go to the relatives of Adrienne Martin, who was 27 in 2010 when she died at Busch's mansion near St. Louis.
Drugstores may have benefited from customers stocking up on batteries and other emergency essentials ahead of "Superstorm" Sandy's landfall on Monday. But the record-setting storm has caused many towns to cancel or postpone Halloween events, potentially curbing sales of candy and decorations.
France, the land of wine, is planning heavy taxes on beer, and that is not going down well with brewers, even in other nations. President Francois Hollande is pushing through legislation to increase taxes on beer by 160 percent to help fund struggling social programs as France tries to contain a budget deficit hit hard by the economic crisis.
Resveratrol, an ingredient in red wine thought to improve insulin sensitivity, reduce risk of heart disease and increase longevity, does not appear to offer these benefits in healthy women, new research at Washington University School of Medicine in St. Louis indicates.
Archer Daniels Midland said Tuesday that its fiscal first-quarter profit dropped 60 percent, hurt by charges stemming from the planned sale of a Mexican food company. For the quarter that ended Sept. 30, the agribusiness conglomerate earned $182 million, or 28 cents per share, down from $460 million, or 68 cents per share, in the same quarter last year.
Mizkan Group Corp. said Tuesday it has agreed with Premier Foods Group Ltd. of Britain to buy out its range of sweet pickles and table sauces by early 2013 aiming to tap further into the British market. The Japanese seasoning and food manufacturer will acquire the Branston brand of products that includes pickles, ketchup, relish, salad cream and mayonnaise.
The Canadian Food Inspection Agency has announced the recall of the Krinos brand of Mini Kashkaval Cheese because of possible Listeria contamination. The federal agency says the sheep cheese is being voluntarily recalled by its distributor Krinos Foods Canada of Vaughan, Ontario.
Whoever wins the U.S. presidential election will likely struggle to manage the biggest economic threats he'll face. Europe's recession will persist deep into the next presidential term, according to a majority of the 31 economists who responded to the survey. A weaker European economy would shrink demand for U.S. exports and cost U.S. jobs. Yet there's little the next president can do about it.
Production has resumed at the Alberta plant that has been at the heart of a massive beef recall over an E. coli outbreak. About 2,000 workers were back on the job on Monday. Mayor Martin Shields said he attended a few events in the town over the weekend and could tell people were more relaxed and positive than they have been in recent weeks.
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.