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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...

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...

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...

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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.

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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.               

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.

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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.             

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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.              

Frozen Bread-Maker Fined $47K For Exposing Workers to Electric Shock Hazards

November 12, 2014 9:54 am | by OSHA | News | Comments

Service and maintenance machine workers at Good Old Days Foods Inc. are being exposed to amputation and electric shock hazards due to a lack of machine guarding and lockout/tagout procedures. These violations, 14 in total, are being cited by OSHA along with a $47,600 penalty.

Former CEO of Artificial Sweetener Plant Sentenced to 7 Years For Theft, Fraud

November 11, 2014 3:02 pm | by Associated Press | News | Comments

A California man who talked a small Missouri community into issuing $39 million in bonds for an artificial sweetener plant was sentenced Monday to seven years in prison for stealing more than $700,000 from the project, which never got off the ground.

Pros vs. Cons of Mobile-Payment Systems

November 11, 2014 10:34 am | by ANICK JESDANUN, AP Technology Writer | News | Comments

Apple Pay, Google Wallet and a few other services use a wireless technology called near-field communication, or NFC. With Apple Pay, the phone unlocks automatically when you hold it near the NFC reader on the merchant's payment system.    

Mondelez to Buy Control of Vietnamese Snack-Food Business

November 11, 2014 9:55 am | by Associated Press | News | Comments

Mondelez is buying an 80 percent stake in a Vietnamese snacks business for $370 million as it seeks to offset flagging U.S. sales in Asia. The deal is targeted to close in 2015's second quarter.               

Hellmann's Seeks Justice vs. 'Just Mayo'

November 11, 2014 9:20 am | by Associated Press | News | Comments

Unilever is suing a California company that uses the word "Mayo" in its sandwich spread name, saying that federal regulators and dictionaries define mayonnaise as a spread that contains eggs. The suit claims false advertising for labeling its egg-free product "Just Mayo."

Dean Foods Soars on Strong Results

November 10, 2014 2:39 pm | by Associated Press | News | Comments

Dean Foods Co. shares soared Monday after the dairy company reported a much smaller loss than expected for its third quarter and projected a profit for the fourth quarter and a smaller loss than expected for the full year.       

VIDEO: Jay Z Likes His Champagne, Buys the Company

November 10, 2014 1:57 pm | by CNN Money | Videos | Comments

When you're Jay Z, you don't just buy bottles of your favorite champagne. You buy the whole company. The Hip-Hop singer purchased the champagne company Armand de Brignac, whose bubbly is also referred to as 'Ace of Spades.'       

PACK EXPO Event Raises $34K For K9s For Warriors

November 10, 2014 12:00 pm | by PMMI | News | Comments

PMMI's PACK gives BACK™ at PACK EXPO International and Pharma EXPO 2014 raised over $34,000 for K9s for Warriors, a charitable organization dedicated to providing service dogs to military veterans suffering from posttraumatic stress as a result of their service since 9/11. 

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