Deere has trimmed its annual profit forecast for the second time, squeezed by slumping demand for tractors and combines as falling crop prices pressure farm income.
Deere cuts 2024 profit forecast as sliding farm income stifles demand
Trudeau summons top grocers over rising food prices
Major grocers' level of profit 'does not make sense,' PM says
Ottawa | Reuters — Prime Minister Justin Trudeau on Thursday said he had summoned the country’s top grocers to help find solution to the surging food prices and vowed to cut federal taxes on new rental buildings, as he fights an affordability crisis that has dented his party’s opinion poll ratings. After meeting with Liberal
U.S. food companies go deal hunting as pandemic growth fades
Twinkies maker Hostess exploring a sale
Reuters — U.S. packaged food companies are set for a flurry of deals in a push to revamp their brand portfolios as their pandemic-era fortunes fade and benefits of price hikes start to taper off. Last month, Campbell Soup struck a $2.7 billion deal for Rao’s sauce maker Sovos Brands (all figures US$). Unilever bought
Deal for Subway chain worth up to US$9.55 billion
Arby's, Jimmy John's parent wins with 'earn-out' deal
New York | Reuters — Private equity firm Roark Capital agreed on Thursday to buy Subway, in a deal that people familiar with the matter said values the U.S. sandwich chain at up to US$9.55 billion, including debt, subject to targets in its financial performance. The deal marks the conclusion of a drawn-out auction that
Tyson Foods ‘hit in the mouth’ on meat supplies, CEO says
Reuters – Tyson Foods took a “hit in the mouth” as larger-than-expected beef and pork supplies weakened demand for its chicken, executives said February 6, as the meatpacker missed Wall Street estimates for quarterly profit. The company’s primary markets — beef, pork and chicken — went the opposite direction from what executives had planned and
Tim Hortons, Burger King parent to hike prices
BK pulling Whopper off discount menu
Reuters — Burger King parent Restaurant Brands International said on Tuesday that it stripped its most famous sandwich, the Whopper, from discount menus and will raise menu prices again this year as to offset higher costs. U.S.-listed shares of the company rose more than three per cent after it topped results estimates for the fourth
U.S. House panel seeks information from meat-processing firms on rising prices
Reuters – The chairman of the U.S. House of Representatives subcommittee on economic and consumer policy has sent a letter to major U.S. meat-processing companies, seeking information on rising prices and profits. The companies included Tyson Foods, JBS Foods, National Beef and Seaboard. Representative Raja Krishnamoorthi, the chairman of the panel, asked for information about
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