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Consumer goods makers say the price hikes are necessary, and that they have taken a hit to margins over the past two years. Some companies such as Clorox (CLX.N) have even begun to ease off the hikes to protect sales volumes as input costs fall. "In the U.S. in particular, these pressures are more acute than in Europe," Janus Henderson portfolio manager Luke Newman told Reuters. U.S. consumer strength has begun weakening, "and that's bad news for the consumer companies," Barclays analyst Iain Simpson said. Still, cost inflation has chipped away at margins, which have broadly fallen 2-4 percentage points over the past two years for the consumer goods industry.

Persons: Janus Henderson, Luke Newman, Newman, Richard Marwood, Robert Klaber, Parnassus, Iain Simpson, Alvarez, Marsal, David Chavern, Stephanie Niven, Niven, Irene Jensen, Jensen, Thomas Joekel, Richa Naidu, Jessica DiNapoli, Matt Scuffham, Deepa Babington Organizations: U.S, Consumer, Reuters, Royal London Asset Management, Investments, Biden, Barclays, Procter, Gamble, Consumer Brands Association, Sustainable Equity Fund, Norges Bank Investment Management, Unilever, Reckitt, Investment, Thomson Locations: Ukraine, U.S, Europe, San Francisco, United States

☆ FDA says sugary cereal and white bread no longer 'healthy'
▼ + stars: | 2023-02-23 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Those changes mean that food companies could no longer market white bread as well as sugary cereals and yogurt as "healthy," according to the FDA. Sources of omega-3 fatty acids such as fish, for example, would get the "healthy" designation because of potential health benefits from that type of fat. The revised definition of "healthy" isn't a requirement for food companies, according to the FDA. Even so, many food companies closely follow nonbinding FDA guidelines. Another set of proposed FDA guidelines for plant-based milks, for example, drew ire from the dairy industry this week.

☆ In wake of baby formula crisis, critical report recommends major food safety changes at FDA
▼ + stars: | 2022-12-06 | by ( Jen Christensen | ) edition.cnn.com time to read: +10 min

It enforces food safety regulations, works with local governments on food safety information, promotes dietary guidelines, and develops food safety information and education, as well as overseeing nutrition labels on most food and being responsible for promoting good nutrition practices to the US public. Another would have the FDA develop a strategy to increase funding for the Human Foods Program, with help from Congress. “The current culture of the FDA Human Foods Program is inhibiting its ability to effectively accomplish this goal” of protecting public health,” the report says. “The work of these independent evaluators will help to inform a new vision for the FDA Human Foods Program,” Califf said in a news release. Some critics have suggested that food safety takes a back seat to the FDA’s regulations of drugs and medical devices.

New York CNN Business —From retailers and computer chip makers to the oil-and-gas industry, businesses are scrambling to find workarounds where possible for a potentially devastating freight rail strike. Retailers, which rely on rail to move cargo from ports to warehouses, are considering shifting the timing of orders and shipments. Critically, the rail strike could disrupt the supply of chlorine and other critical chemicals used to keep drinking water safe. The oil-and-gas industry, for instance, warns a rail shutdown would spark fuel supply crunches and price spikes. “Congress appears likely to intervene in the coming days to avert a rail strike,” economists at Goldman Sachs wrote in a note to clients on Tuesday.

The White House struck a tentative deal Thursday to avoid a rail strike that risked major disruptions across the United States, with freight workers securing a key demand. Pandemic pressures, including those that scrambled supply chains, worked in freight workers’ favor, logistics experts said. A rail strike would dent many industries, as about 40% of goods that are shipped long-distance rely on the nation’s rail system. Rail workers often are on-call 24/7 year-round and are allotted time off only after being called to a number of consecutive on-call shifts. A labor union source told NBC News that getting rail carriers to negotiate on attendance policies was a major breakthrough.

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