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Headlines > Financial

DSM reshuffle spells 1000+ job losses

Nutrition giant DSM has outlined organisational adjustments that will see 900-1100 jobs lost – half of which will be in the Netherlands.

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£10M investment in Jacob’s Cream Crackers factory

Biscuit manufacturer United Biscuits (UB) has revealed £10M investment plans for its Jacob’s Cream Crackers factory. 

Diageo fails to reach its own pollution targets

Diageo has significantly missed seven of its 10 pollution reduction targets, the £11bn drinks giant has admitted in its annual report.

Money talks! Norway withdraws from 4 Asian palm oil firms

The Norwegian national investment fund has cut ties with four major Asian companies, citing the risk of ‘severe environmental damage’ as a result of palm oil plantations.

Frozen food giant: Nomad confirms €702m deal for Findus Europe

Nomad Foods has confirmed it will acquire the European operations of Findus Group for €702 million (£500m), adding further scale to its frozen-food business just months after a 2.6bn deal...

€6m bust for vinegar price fixing: 'This is a very serious cartel'

Two Dutch vinegar firms have been fined over €6m for cartel arrangements lasting over a decade – but the whistleblower sidestepped payment under EU rules.

Nestlé beats H1 sales growth target, but sees profits slip

Better-than-expected first-half sales growth has allowed the world’s biggest food company, Nestlé, to confirm its 2015 outlook despite poor exchange rates leading to decreased profits.

Competition remains fierce in cholesterol-lowering niche

Benecol buy-back boosts Raisio Q2 results

Sales and profits were up in Q2 at Raisio, with CEO of the €500m Finnish agro-food player Matti Rihko content its re-housing of key brand Benecol was paying off.

Burnt toast? Packaged bread needs investors, not innovation

UK bakers must seriously consider outside investment because product innovation won’t be enough to reverse plummeting sales, says Euromonitor.

Scotland to ban GM crops: ‘GM would damage our clean, green brand’

Genetically modified (GM) crops will not be allowed in Scotland, the Scottish National Party (SNP) has announced.

News in brief

Cargill buys Italian citrus pectin business

Cargill is to acquire the pectin operations of US firm FMC - a move it hopes will help it tap into demand for 'label-friendly' ingredients. 

Kerry Foods sales revenue falls by 6.4%

Kerry Foods has suffered losses as a result of heavy promotional activity caused by the major multiples in response to the growth of the German discounters Aldi and Lidl.

Global food prices drop to 6-year low

Dairy and vegetable oil price drops have led the FAO Food Price Index to its lowest level in six years.

Financials update: Symrise reports strong H1 as Novozymes disappoints

German fragrance and flavour company Symrise reported a 38% jump in first half profits, while shares in Novozymes fell as much as 10% after the Danish enzyme giant lowered certain full-year expectations.

UK law to fight slavery in big firm supply chains

New legislation will require all large firms in the UK to report on their fight against slavery in the supply chain - but experts say the 'opt out' clause means...

Don't count on industry goodwill: Tax for healthy, sustainable food

Don’t count on industry goodwill or informed consumers for a healthier, sustainable food system – it's time to try food taxes, says one report.

CPF Netherlands set to seal €614m Russian food processor

Charoen Pokphand Foods (CPF) is set to expand its Russian presence with the acquisition of an integrated poultry business from Dutch firm Agro Invest Brinky for €614m ($680m).

UK government pledges £7 billion boost to exports

Over 100 more protected names for British food, more research for food innovation and less red tape will give a £7 billion boost to exports, the UK prime minister says....

Price war fallout to worsen as retailers produce their own goods

Manufacturers are already on the brink but they now face a "nightmare scenario" as more retailers begin producing their own goods, says a market report - so what can industry...

News in brief

Perrigo invests in €30m German meal replacement player

Irish pharma giant Perrigo has paid an undisclosed sum for Germany’s second biggest food supplement player, Yokebe, which specialises in meal replacements.

Cargill must sell German plant to finalize ADM chocolate deal, says European Commission

The European Commission has approved Cargill’s acquisitions of ADM’s chocolate business on the proviso it sells a plant in Manheim, Germany.

Me and my factory

Why United Biscuits had to invest £50M

United Biscuits has pumped millions into its flagship Harlesden site. Kevin McGurk tells Nicholas Robinson why the investment had to be made

MEPs back TTIP but reject investor clause

MEPs have voted through a resolution supporting TTIP on condition the ISDS clause is replaced – but the proposed replacement has drawn criticism.

What Greek ‘no’ vote means for food manufacturers

British food and drink manufacturers could find themselves “priced out of Eurozone markets” , after the Greek people voted decisively to reject an international bailout in Sunday’s referendum, sparking fears the...

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