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June 10, 2021

Food Processing (TRBC level 4)

China shares end higher as some IT firms pledge against anti-competition

Reuters
* SSEC 0.6%, CSI300 0.8% * HK->Shanghai Connect daily quota used 5.2%, Shanghai->HK daily quota used 0.7% * FTSE China A50 +0.5% BEIJING, April 14 (Reuters) – China shares rose on Wednesday, with IT firms leading the gains, as investors cheered internet platform companies pledging to avoid anti-competitive behaviours after......

After dire year England’s shops hope for end-of-lockdown shopping spree

Reuters
LONDON (Reuters) – After more than three months of enforced closure due to the COVID-19 pandemic, non-essential stores in England reopen their doors on Monday, hoping that the escape from lockdown will fuel a trading boom. FILE PHOTO: A man walks a dog in front of a closed retail unit......

South Korea’s SK Group buys 16.3% stake in Vietnam’s VinCommerce for $410 million

Reuters
FILE PHOTO: The logo of SK Innovation is seen in front of its headquarters in Seoul, South Korea, February 3, 2017. REUTERS/Kim Hong-Ji/File Photo SEOUL (Reuters) – South Korea’s third-largest conglomerate, SK Group, said on Tuesday it has agreed to acquire a 16.3% stake in Vietnam’s VinCommerce, a retail affiliate......

U.S. lawmakers announce bill to cut toxic metals in baby food

Reuters
WASHINGTON (Reuters) – A group of Democratic U.S. lawmakers presented legislation Thursday whch will set new maximum levels of toxic heavy metals in baby food and require manufacturers to comply within one year. FILE PHOTO: Signage is seen outside of the Food and Drug Administration (FDA) headquarters in White Oak,......

UPDATE 1-Flooding stops Australian coal rail deliveries to Newcastle port

Reuters
(Adds details of port, background) MELBOURNE, March 22 (Reuters) – Australia’s Hunter Valley coal rail lines have been shut due to flooding in the state of New South Wales, the Australian Rail Track Corp said on Monday, halting deliveries into the port of Newcastle, the world’s biggest coal export port.......

Malaysia’s Sime Darby Plantation drops lawsuit against activist

Reuters
KUALA LUMPUR (Reuters) – Sime Darby Plantation on Tuesday said it had withdrawn a lawsuit against the head of anti-trafficking NGO Liberty Shared as Malaysia’s Securities Commission is no longer investigating the world’s largest sustainable palm oil producer. FILE PHOTO: A general view of the Sime Darby Plantation headquarters in......

Global mining trade group picks sustainability expert as new CEO

Reuters
JOHANNESBURG (Reuters) – The International Council on Mining and Metals (ICMM) said on Tuesday that it had appointed Rohitesh Dhawan, a managing director at Eurasia Group with expertise in climate change and sustainability, as the trade group’s new chief executive. The appointment of Dhawan, effective from April, reflects increased pressure......

Indigenous people sue retailer Casino over Amazon destruction

Reuters
PARIS (Reuters) – Indigenous peoples from Brazil and Colombia sued retailer Casino in a French court on Wednesday over the selling of beef linked to land grabbing and deforestation in the Amazon, campaigners involved in the lawsuit said. It is the first time a French supermarket chain has been taken......

Danone needs new independent chairman instead of Faber, says investor Artisan

Reuters
PARIS (Reuters) – U.S investment company Artisan Partners on Wednesday said that Danone needed to appoint a new, independent chairman, adding more pressure on Emmanuel Faber who holds that position at the French food company. This week, Danone said Faber – who until now has combined the CEO and chairman......

Brazil’s antitrust watchdog approves ethanol co Biosev acquisition by Raizen

Reuters
FILE PHOTO: Cane fields are seen in Brazil’s center-south main sugar belt in Ribeirao Preto, Brazil May 2, 2019. REUTERS/Marcelo Teixeira/File Photo SAO PAULO (Reuters) – Brazil’s antitrust watchdog CADE approved the acquisition of ethanol producer Biosev SA by Raizen, a joint venture between Brazilian ethanol producer Cosan SA and......

Packaged food giants push direct online sales to gauge consumer tastes

Reuters
By Siddharth Cavale, Nivedita Balu (Reuters) – Packaged food giants including Kraft Heinz, General Mills and Kellogg are pushing sales of their products to consumers directly via their own online channels, in a quest to gather more data about shoppers’ purchasing habits. FILE PHOTO: Tins of Heinz Baked Beans rest......

Nestle to put focus on growth and acquisitions

Reuters
FILE PHOTO: Nestle Chief Executive Mark Schneider talks during a news conference at the company headquarters in Vevey, Switzerland, February 13, 2020. REUTERS/Pierre Albouy/File Photo ZURICH (Reuters) – Nestle is looking to boost its growth with acquisitions this year while remaining cautious and selective, its chief executive told an investor......

Inflation not likely to hit Fed’s target through 2022, Rosengren says

Reuters
WASHINGTON (Reuters) – Inflation is unlikely to hit the Federal Reserve’s 2% target on a sustained basis at least through 2022, Boston Fed President Eric Rosengren said on Wednesday, adding that he was not concerned about an immediate jump in prices that is expected to occur as the coronavirus pandemic......

Breakingviews – Coal wobble flags Glencore’s green high-wire act

Reuters
Glencore Chief Executive Ivan Glasenberg attends a session of the St. Petersburg International Economic Forum (SPIEF), Russia, June 6, 2019. LONDON (Reuters Breakingviews) – Ivan Glasenberg is leaving Glencore shareholders and green activists with a parting climate conundrum. The South African’s final results-in-charge revealed a collapse in coal EBITDA to......

Glencore reinstates dividend as 2020 net debt drops

Reuters
JOHANNESBURG, Feb 16 (Reuters) – Glencore on Tuesday reinstated its dividend after net debt fell by 10% in its full-year 2020, helped by surging commodity prices in the second half The commodities trader and miner which scrapped its dividend in August last year after a first-half loss amid the COVID-19......

Unilever underlying sales rose 3.5% in last quarter

Reuters
FILE PHOTO: The logo of Unilever is seen at the headquarters in Rotterdam, Netherlands August 21, 2018. REUTERS/Piroschka van de Wouw (Reuters) – Consumer goods giant Unilever on Thursday reported underlying sales growth for the fourth quarter that was in line with estimates, buoyed by strong demand in emerging markets.......

Whole Foods must face lawsuit over its honey graham crackers

Reuters
NEW YORK (Reuters) – A federal judge in Manhattan said on Tuesday Whole Foods Market must face a proposed class-action lawsuit claiming it deceived shoppers about the contents of its 365 Organic Honey Graham Crackers. FILE PHOTO: People wait in line practicing social distance at a Whole Foods Market amid......

Impossible Foods cuts faux meat prices by 20% at grocery stores

Reuters
FILE PHOTO: A banh mi sandwich made with a plant-based Impossible Pork patty at the Impossible Foods headquarters in Silicon Valley, in San Francisco, California, U.S., December 19, 2019. REUTERS/Richa Naidu/File Photo (Reuters) – Impossible Foods said on Tuesday it would cut the prices of its faux meat patties by......

Danone’s Faber says not ‘dogmatic’ about CEO-chairman role – JDD

Reuters
FILE PHOTO: Emmanuel Faber, Chief Executive Officer of French food group Danone, poses before a news conference to present the company’s 2019 annual results in Paris, France, February 26, 2020. REUTERS/Christian Hartmann/File Photo PARIS (Reuters) – Emmanuel Faber, the chief executive and chairman of French food group Danone, told the......

Valero joint venture to become top U.S. renewable diesel producer

Reuters
FILE PHOTO: The Valero St. Charles oil refinery is seen in Norco, Louisiana August 15, 2008. REUTERS/Shannon Stapleton HOUSTON (Reuters) – A Valero Energy Corp joint venture will become the largest renewable diesel producer in the United States in 2023 when it opens a second facility at a site in......

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