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Headlines > Financial

Coke's capitulation to the 'new normal', and could a newly graduated MBA run the business? Analysts unpick Q3 2014

Coke appears to be capitulating to the ‘new normal’ operating environment by lowering its revenue and volume growth targets, according to one financial analyst, while disaffected investor David Winters claims...

Coke's Net Income FELL 14% to $2.12bn in Q3 2014 ending September 26

Still waters run deep...and Coke eyes ‘value-added dairy’ growth potential

The Coca-Cola Company CEO Muhtar Kent will today identify value-added dairy as a top target category for still beverage retail value growth through to 2020.

News in brief

Warburtons donates £10,000 to youth charity

UK bread major Warburtons has pledged £10,000 ($15,900) to a youth charity project focused on driving employment.

News in brief

Glanbia clinches Isopure deal

Glanbia has completed its acquisition of US sports nutrition firm The Isopure Company on schedule.

Commodity reports: European Commission

EU cereal harvest to hit 2014 record

The EU cereal harvest will hit record levels this year, driving higher than average exports, says the European Commission (EC).

News in brief

Food Union buys Premia Foods’ ice cream business for €27m

Latvia-based Food Union has agreed to buy the ice cream and frozen foods business of Estonia’s Premia Foods in a deal worth €27.1m, the company said on Monday.

Board member: "We were stupid enough to accept. We should have said no.”

Swedish meat supplier fined for faking export papers: ‘We applied every year, but the agency was weak at negotiating’

Swedish meat supplier Sten Davidsson has been fined more than €45,000 after Taiwanese authorities discovered it had faked export certificates and stamps.

Nestlé sells German baby food brands in infant formula refocus

Nestlé has agreed to sell its Alete and Milasan baby food brands to focus on its infant formula interests in Germany and Austria.

UK food and drink companies see margins ‘flatline’

The largest food and beverage companies in the UK have seen average margins flatline at 5.2% over the past two years, according to research from OC&C Strategy Consultants.

News in brief

Nestlé partners with Cargill, DS Smith, and Google in youth employment initiative

Around 200 companies have joined forces under Nestlé’s ‘Alliance for YOUth’ to tackle youth unemployment in Europe.

Cognition & colours among DSM targets at 2-day Swiss open innovation event

DSM Nutritional Products (DNP) wants to engage with commercial, government and academic entities at a 2-day open innovation (OI) summit with selected participants in December.

Commission has not misled on transatlantic trade impact, says letter to lobbyists

The European commissioner for trade has denied overstating possible economic benefits of the landmark Transatlantic Trade and Investment Partnership (TTIP), according to a response letter to NGO concerns....

Workers ‘devastated’ as 186 KP Snacks jobs face axe

KP Snacks’s plans to close factories at Consett in County Durham and Corby in Northamptonshire, threatening up to 186 jobs, have ‘devastated’ longstanding workers there, according to trades union GMB.

Allied Bakeries creates 27 new jobs

Allied Bakeries (AB) has created 27 new jobs at its Glasgow facility after pumping £8.4M into its new Kingsmill Sandwich Thins production line.

Commission ups CAP budget by €30m to alleviate Russian ban on EU agri products

The European Commission says it will increase its €60m Common Agricultural Policy (CAP) budget by a further €30m to ease market difficulties expected as a result of Russian measures against some European...

FAO warning: Ebola outbreak threatens cereal production in West Africa

The Ebola Virus Disease (EVD) outbreak has threatened upcoming cereal harvests across Liberia, Sierra Leone and Guinea, says the Food and Agriculture Organization (FAO) as it issues a ‘grave food...

10,000 new food and drink jobs on cards, says Bank of Scotland

Investment and growth in Scotland’s food and drink sector will see around 10,000 new jobs created in the region, according to a Bank of Scotland report just a month before...

Serbia vows not to support Russia export boost despite cheese talks

Despite reports it is preparing to up the amount of cheese it ships to Russia, Serbia has vowed not to support an increase in food exports to the country. 

More than 800 job cuts proposed at bakery plants

More than 800 job cuts have been proposed at 2 Sisters Food Group’s Gunstones bakery and Avana Bakeries, previously owned by 2 Sisters and now owned by Utopia Foods.

Chocolat Frey sees off Lindt competition for Swiss Airlines contract

Chocolat Frey has been chosen ahead of other Swiss chocolate makers such as Lindt to produce a small chocolate tablet for Swiss Airlines that it hopes will boost its export...

Guest article

Danone sets its sights on becoming number one in milk formula as it is rumoured to be selling its medical nutrition business

Will Danone silence the rumour mill by selling its medical nutrition business? Euromonitor health and wellness analyst Diana Cowland explains why the sale makes sense for the world's biggest yoghurt...

Diageo’s lackluster 2014 gives CEO Menezes bonus blues

Diageo revealed yesterday that CEO Ivan Menezes, his predecessor Paul Walsh and CFO Deirdre Mahlan took home less than 10% of their possible bonus pot in fiscal year 2014 due...

Fria expands into Ireland

Scandinavian frozen free-from player Fria expands into Ireland as part of its ongoing European growth strategy.

Guest article

Red Queen Rules: Understanding nutra space acquisition and evolution

By analysing the long-lasting commitments and acquisition activity of major companies Dr Matthew Jones at CPL Business Consultants uses the Red Queen theory to develop an understanding of their corporate...

Breaking

Weetabix announces 30 redundancies

Weetabix will make 30 roles at its Northamptonshire sites redundant in response to increasing pressure from supermarket own-label products and the discounters, it has announced.