Advertisement
Financial News
Subscribe to Financial News

The Lead

US Tea Sales Increased 5.9 Percent Last Year

November 26, 2014 2:15 pm | by American Botanical Council | News | Comments

Tea is the world's second most-consumed beverage after water. According to a new report published in the current issue of HerbalEGram, sales of loose, bagged, concentrated, and herbal tea in the United States increased by 5.9 percent in 2013.

Fuji Food to Expand to Chicago Suburbs, Create 110 Jobs

November 26, 2014 12:15 pm | by Associated Press | News | Comments

A California-based fresh food manufacturer, Fuji Food Products Inc., is expanding in the Chicago...

Kentucky Whiskey Maker Fetches More Than $28K For 1st Bottle of Bourbon

November 26, 2014 9:20 am | by BRUCE SCHREINER, Associated Press | News | Comments

The bottle appeared to rank among the most expensive bottles of bourbon ever sold. Eric Gregory...

Vermont Auditor Questions State's Role in Liquor Business

November 25, 2014 12:20 pm | by Associated Press | News | Comments

Vermont state Auditor of Accounts Doug Hoffer is questioning the state's role in the liquor...

View Sample

FREE Email Newsletter

Daily news and top headlines for food manufacturing professionals

Budweiser Clydesdales Receive Pink Slip For the Holidays

November 25, 2014 9:05 am | by Associated Press | News | Comments

The country's number three beer brand, Budweiser, says the horses will not appear in its holiday advertising this year. A spokesman for owner Anheuser-Busch InBev was unable to say if the horses would be featured in the Super Bowl advertisements.

Apparent Settlement Reached in National Beef Case

November 24, 2014 2:00 pm | by ROXANA HEGEMAN, Associated Press | News | Comments

An apparent settlement has been reached in the class action lawsuit against National Beef brought by workers at its Liberal, Kansas, meatpacking plant, according to a court filing. Workers at the southwest Kansas plant are seeking unpaid wages and overtime.

Hawaii and Alaska Pay Highest Prices For Thanksgiving Feasts

November 24, 2014 12:30 pm | by Associated Press | News | Comments

According to an analysis by the personal finance website NerdWallet, residents of Hawaii and Alaska pay the highest amount in the nation for their tasty birds and fixings on Thanksgiving. Most food has to be flown or shipped into both states. 

Advertisement

A New Kind of Holiday: Pot-Infused Pumpkin Pies

November 24, 2014 9:07 am | by KRISTEN WYATT, Associated Press | News | Comments

From new marijuana strains for the holidays to gift sets and pot-and-pumpkin pies, the burgeoning marijuana industry in Colorado is scrambling to get a piece of the holiday shopping dollar. Here's a look at how the new recreational marijuana industry is trying to attract holiday shoppers.

VIDEO: Diddy Enters the Tequila Business

November 21, 2014 2:43 pm | by Wall Street Journal | Videos | Comments

Diddy has already had a huge success in the vodka world and now is dipping into tequila. Like many celebrities, Diddy has now entered the tequila world by partnering with Diageo and purchasing the luxurious DeLeon brand.       

McDonald's Worker Charged in Glass-in-Big Mac Case Wins $437K

November 21, 2014 2:08 pm | by JAKE PEARSON, Associated Press | News | Comments

A former McDonald's worker acquitted of charges he placed shards of glass into a police officer's Big Mac nearly a decade ago has won a $437,000 settlement from the city after arguing the officer fabricated the story to win money by suing the fast food restaurant.

Yum Brands Approve $1B Stock Buyback Plan

November 21, 2014 9:56 am | by Associated Press | News | Comments

Yum Brands, which owns KFC, Pizza Hut and Taco Bell, said that its board approved a $1 billion stock buyback plan. The program runs through May 2016 and can help the company boost its earnings per share.             

Peanut Company to Sell Mississippi Operation

November 20, 2014 2:00 pm | by Associated Press | News | Comments

Texoma Peanut Company will sell its peanut drying facility in Clarksdale, Mississippi, according to its Chapter 11 bankruptcy filing. The company is a salted and roasted nut and seed manufacturer located in Madill, Oklahoma.    

Advertisement

Cost of Thanksgiving is Going Up

November 20, 2014 9:37 am | by J.M. HIRSCH, AP Food Editor | News | Comments

The price for putting Thanksgiving dinner on the table for 10 people is expected to rise slightly this year, clocking in at $49.41. That's 37 cents higher than in 2013. For that, you can blame dairy products, coffee and marshmallow-topped sweet potato casserole.

Darden Restaurants Cuts Jobs, Costs to Save $20M Annually

November 19, 2014 2:45 pm | by Associated Press | News | Comments

The Orlando, Florida-based company behind the Olive Garden and LongHorn Steakhouse chains said it is eliminating 85 jobs, which includes 60 existing positions and 25 open spots. The changes affect its marketing, development, aviation, external affairs and field operations departments.

VIDEO: A Fast-Food Thanksgiving?

November 19, 2014 9:45 am | by ABC News | News | Comments

Rachel and Ryan of BuzzFeed craft a holiday feast using items found at fast-food restaurants. This Thanksgiving feast may not be the norm, but it's affordable and still quite tasty. The meal contains items like Potato Medley and a Green Bean and Onion Ring Casserole.

Cost of Booze Set to Rise in Virginia After Board Vote

November 19, 2014 8:10 am | by LARRY O'DELL, Associated Press | News | Comments

Virginians will pay at least 24 cents more on average for a bottle of booze starting Dec. 8 as a result of action taken by the board that oversees the state liquor monopoly. The increase is a part of a broader plan to plug the $2.4 billion gap in the budget. 

Carlsberg Becomes No. 2 in Greece With Olympic Brewery Takeover

November 18, 2014 2:20 pm | by Associated Press | News | Comments

Carlsberg, a Danish company, said that the two breweries combined would hold a market share of about 29 percent in Greece. Carlsberg already fully owns the Mythos Brewery, Greece's third-largest.               

Advertisement

Chinese Company, Dairy Farmers to Build $100M Kansas Plant

November 18, 2014 12:30 pm | by Associated Press | News | Comments

The Dairy Farmers of America, a cooperative owned by 13,000 dairy farmers, and a Chinese company say they are planning a $100 million plant in Kansas. The plant will produce up to 88,000 tons of milk powder a year.          

Tyson Foods Beats Fourth-Quarter Forecasts

November 18, 2014 11:00 am | by Associated Press | News | Comments

The Springdale, Arkansas-based company acquired Hillshire Brands in August, which helped boost its sales of prepared foods. It also benefited from increased demand and higher prices for chicken during the quarter, as feed ingredient costs have fallen.

Bad Weather Takes a Bite Out of Europe's Olive Harvest

November 18, 2014 9:22 am | by BARRY HATTON, Associated Press | News | Comments

If your favorite bottle of Mediterranean olive oil starts costing more, blame unseasonable European weather. The shortfall could translate into higher shelf prices for some olive oils and is dealing another blow to southern Europe's bruised economies as they limp out of a protracted financial crisis.

Minnesota Food Company Sued for Unpaid Loans

November 17, 2014 2:15 pm | by Associated Press | News | Comments

A Minnesota businessman and his food company are facing three lawsuits over unpaid loans. Pioneer Bank has filed two lawsuits and John Bean Technologies, a food processing equipment maker, filed a third. Together they seek more than $6 million from Stephen Singleteary and Singleteary Food Solutions.

Cod Restrictions Will Cost Consumers Who Buy Local

November 14, 2014 1:49 pm | by PATRICK WHITTLE, Associated Press | News | Comments

Supply from countries like Iceland and Norway, as well as Alaska, is steady enough that a lack of Gulf of Maine cod is unlikely to affect prices overall. But customers who prefer locally caught fish will probably soon have to pay more at markets and restaurants.

Pinnacle Foods to Buy Canadian Protein Foods Maker, Garden

November 14, 2014 10:43 am | by Pinnacle Foods Group Inc.; Garden Protein International Inc. | News | Comments

Pinnacle Foods Inc., maker of Birds Eye frozen brands, announced that it has entered into a definitive agreement to acquire Canada-based Garden Protein International Inc., the rapidly-growing manufacturer of the plant-based protein brand gardein.

Mass. Regulators Probe State's Beer Industry

November 14, 2014 9:30 am | by Associated Press | News | Comments

Investigators for the Alcoholic Beverages Control Commission have issued subpoenas to several breweries, distributors and retailers for records to determine whether they are paying for, or demanding payments for, access to taps and shelf space. 

VIDEO: Brazil's Drought Means Higher Coffee Prices

November 13, 2014 1:00 pm | by CNN Money | Videos | Comments

Coffee drinkers hold on to your wallets! The worst drought in 80 years has hit Brazil, the world's biggest producer and exporter of coffee, and prices have surged to their highest levels in two years.             

Kellogg Facility to Open in Tennessee

November 13, 2014 12:00 pm | by Associated Press | News | Comments

Economic development officials in Jackson, Tennessee have approved tax incentives for a Kellogg's facility planned in the West Tennessee city. The company expects to employ 100 people when construction on the facility is completed.     

Mondelez to Invest $24M to Expand Confectionery Plant in Turkey

November 13, 2014 10:40 am | by Mondelez International, Inc. | News | Comments

Mondelez International, the world's pre-eminent maker of chocolate, biscuits, gum and candy, announced plans to invest $24 million to increase capacity of its state-of-the-art plant in Gebze, Turkey, to support growth in the company's global confectionery business.

J.M. Smucker's Stock Drops After Disappointing Profit, Sales Outlook

November 12, 2014 1:20 pm | by Associated Press | News | Comments

J.M. Smucker, maker of Jif, Pillsbury and Hungry Jack, lowered its guidance for fiscal 2015 as customers recoiled from rising prices for its coffee brand, Folgers. Its preliminary second-quarter forecast also disappointed Wall Street and shares slid more than 3 percent.

Purdue Economist Says Turkeys Will be More Expensive This Year

November 12, 2014 1:00 pm | by Associated Press | News | Comments

Purdue University agricultural economist Corinne Alexander tracks food price trends and says wholesale prices of turkeys are expected to be 8 percent to 10 percent higher than last year.              

X
You may login with either your assigned username or your e-mail address.
The password field is case sensitive.
Loading