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May 24, 2022

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Glencore prepares to pay up to $1.5 bln to settle U.S., UK, Brazil probes

Reuters
Glencore agrees settlements in U.S., Brazil Glencore Energy (UK) charged with bribery over oil operations UK sentencing hearing called for June 21 LONDON, May 24 (Reuters) – Glencore Plc (GLEN.L) said on Tuesday it anticipates paying up to $1.5 billion to settle accusations of bribery and market manipulation by U.S.,......

Gaza flour mills ground down by Russian-Ukraine conflict

Reuters
GAZA, May 23 (Reuters) – Three months into the Russian invasion of Ukraine, which has closed off access to lower-priced Black Sea wheat, owners of five mills in the Palestinian Gaza Strip are feeling the heat as they try to replenish stocks. Prices have jumped by around 20%, meaning the......

First baby formula shipment, enough for thousands of U.S. infants, arrives from Europe

Reuters
WASHINGTON, May 22 (Reuters) – A military cargo plane carrying the first shipment of infant formula from Europe to help address a critical shortage in the United States landed in Indianapolis on Sunday, but a top government official noted that much more needs to be done. A Feb. 17 recall......

Biden says first shipments of baby formula flying in from Europe this weekend

Reuters
May 20 (Reuters) – The first shipments of infant formula from Europe to address a critical shortage in the United States should begin arriving this weekend, President Joe Biden said on Friday amid criticism of his administration’s handling of the issue. Biden said on Twitter the initial military cargo plane......

Deere’s supply chain issues hit revenue, shares plunge

Reuters
Equipment for sale is seen at a John Deere dealer in Denver, Colorado, U.S. May 14, 2015. REUTERS/Rick Wilking/File Photo Register now for FREE unlimited access to Reuters.com Register May 20 (Reuters) – Deere & Co (DE.N) on Friday missed Wall Street revenue targets and said it was having difficulty......

U.S. FDA says Abbott baby formula plant on track to reopen in 1-2 weeks

Reuters
WASHINGTON, May 19 (Reuters) – Abbott Laboratories (ABT.N) and the U.S. Food and Drug Administration are on track to reopen the company’s Sturgis, Michigan, baby formula manufacturing plant within one or two weeks, FDA Commissioner Robert Califf said on Thursday. Abbott, the biggest U.S. supplier of powder infant formula including......

Biden invokes Defense Production Act to increase infant formula supply

Reuters
WASHINGTON, May 18 (Reuters) – President Joe Biden took steps on Wednesday to address the shortage of infant formula in the United States, invoking the Defense Production Act to help manufacturers obtain the ingredients needed to ramp up supply, the White House said. Biden also directed U.S. agencies to use......

U.S. to allow baby formula imports amid nationwide shortage

Reuters
Empty shelves show a shortage of baby formula at CVS in San Antonio, Texas, U.S. May 10, 2022. REUTERS/Kaylee Greenlee Beal/File Photo Register now for FREE unlimited access to Reuters.com Register WASHINGTON, May 16 (Reuters) – The United States will allow baby formula imports from foreign makers that do not......

Column: European smelter hits mean another year of zinc shortfall: Andy Home

Reuters
LONDON, May 16 (Reuters) – The global refined zinc market is expected to register a supply shortfall of 292,000 tonnes this year, according to the International Lead and Zinc Study Group (ILZSG). It will be the second consecutive year of deficit after global production fell short of demand to the......

India prohibits wheat exports with immediate effect

Reuters
A combine deposits harvested wheat in a tractor trolley at a field on the outskirts of Ahmedabad, India, March 16, 2022. REUTERS/Amit Dave Register now for FREE unlimited access to Reuters.com Register MUMBAI, May 14 (Reuters) – India has prohibited wheat exports with immediate effect, the government said in a......

Exclusive: Maker of Walmart, Amazon store-brand baby formulas sees shortages through rest of 2022

Reuters
NEW YORK, May 13 (Reuters) – Perrigo Company PLC (PRGO.N), which makes store-brand baby formulas for retailers, including Walmart Inc (WMT.N) and Amazon.com Inc (AMZN.O), expects shortages and heightened demand to last for the “balance of the year,” Chief Executive Murray Kessler told Reuters in an interview. The Biden administration......

Major U.S. retailers limit baby formula purchases on shortage

Reuters
CVS Health logo and stock graph are seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register May 10 (Reuters) – U.S. retailers including Target Corp (TGT.N), CVS Health Corp (CVS.N) and Walgreens Boots Alliance (WBA.O) said on Tuesday they......

Ukraine, Russia production critical to restoring global food security, UN chief says

Reuters
ABUJA, May 4 (Reuters) – U.N. Secretary-General Antonio Guterres said on Wednesday the problem of global food security could not be solved without restoring Ukrainian agricultural production and Russian food and fertilizer output to the world market. Russia’s invasion of Ukraine in February has added to volatility in financial markets,......

Shanghai lockdown sends chill down meat trade

Reuters
Police and security members in protective suits stand outside cordoned off food stores following the coronavirus disease (COVID-19) outbreak in Shanghai, China March 29, 2022. REUTERS/Aly Song Register now for FREE unlimited access to Reuters.com Register China is world’s top meat importer Largest share of meat imports arrive at Shanghai......

Unilever warns of more price hikes as cost pressures build

Reuters
Unilever logo is displayed in this illustration taken on January 17, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register Q1 underlying sales up 7.3% vs forecast up 4.4% Q1 prices up 8.3%, volumes down 1% Raises H2 cost inflation forecast to 2.7 bln euros April 28......

Bunge lifts 2022 earnings outlook as Ukraine war crimps crop supplies

Reuters
The sun sets behind grain elevators at the Bunge Grain facility along the Ohio River in Owensboro, Kentucky, U.S., September 16, 2017. REUTERS/Brian Snyder/File Photo Register now for FREE unlimited access to Reuters.com Register April 27 (Reuters) – Global farm commodities merchant Bunge Ltd (BG.N) on Wednesday reported a higher......

Kraft Heinz raises annual sales forecast on sustained packaged foods demand

Reuters
Bottles of Heinz Tomato Ketchup, owned by the Kraft Heinz Company, are seen for sale in Queens, New York, U.S., November 16, 2021. REUTERS/Andrew Kelly GLOBAL BUSINESS WEEK AHEAD Register now for FREE unlimited access to Reuters.com Register April 27 (Reuters) – Kraft Heinz Co (KHC.O) on Wednesday raised its......

Mexico’s Grupo Bimbo eyes price hikes as inflation hurts margins

Reuters
The logo of Mexican breadmaker Grupo Bimbo is pictured on a delivery truck in Monterrey, Mexico, August 8, 2018. REUTERS/Daniel Becerril Register now for FREE unlimited access to Reuters.com Register MEXICO CITY, April 26 (Reuters) – Mexican breadmaker Grupo Bimbo’s(BIMBOA.MX)first-quarter net profit rose, boosted by strong sales, but higher raw......

Mondelez to buy Mexican breadmaker Bimbo’s Ricolino for $1.3 billion

Reuters
The logo of Mondelez International is pictured at the company’s building in Zurich November 14, 2012. REUTERS/Michael Buholzer/File Photo Register now for FREE unlimited access to Reuters.com Register April 25 (Reuters) – Mondelez International Inc (MDLZ.O) said on Monday it would buy breadmaker Grupo Bimbo’s(BIMBOA.MX) confectionery business, Ricolino, for around......

Coca-Cola results exceed expectations on higher prices, stable demand

Reuters
A man walks past shelves of Coca-Cola bottles and cans at a Shoprite store inside Palms shopping mall in Lagos, Nigeria November 5, 2019. REUTERS/Temilade Adelaja/File Photo Register now for FREE unlimited access to Reuters.com Register April 25 (Reuters) – Coca-Cola Co (KO.N) beat quarterly revenue and profit expectations on......

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