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☆ Olive Garden parent company Darden beats estimates, raises outlook
▼ + stars: | 2022-12-16 | by ( Stefan Sykes | ) www.cnbc.com time to read: +2 min

The company also raised its earnings outlook for fiscal 2023 to a range of $10.3 billion to $10.45 billion from its previous range of $10.2 billion to $10.4 billion. Revenue: $2.49 billion vs. $2.43 billion expected. Darden's total sales rose 9.4% compared with the same quarter last year. Olive Garden, which accounts for nearly half of Darden's revenue, saw same-store sales increase 7.6%, while overall same-store sales rose 7.3% for the company. Darden said it had 1,887 locations open as of the end of the quarter, compared with 1,852 last year.

☆ A lettuce production problem cost Olive Garden owner millions
▼ + stars: | 2022-12-16 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +2 min

New York CNN —High lettuce costs are coming for Olive Garden’s never-ending salad. Olive Garden's parent company said high lettuce costs had a $4-$5 million impact in the quarter ending November 27. But the lettuce prices were “a big surprise.”California crop diseaseCrop disease in California, where much of the country’s lettuce is grown, has hit lettuce supply and forced prices to rise. The crop virus in addition to the geographical shift “was the perfect recipe for really historically high prices,” he said. High lettuce prices are hitting consumers in the grocery store, as well.

☆ Warren Buffett and Berkshire Hathaway are beating the market this year
▼ + stars: | 2022-12-15 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +6 min

But Warren Buffett has no reason to be worried. Shares of Buffett’s Berkshire Hathaway (BRKB) are up about 5.5% in 2022. Berkshire has big stakes in Coca-Cola (KO) and Kraft Heinz (KHC), which are each up around 10% this year. Buffett turns 93 next August while Berkshire vice chair and long-time Buffett confidant Charlie Munger will celebrate his 99th birthday on New Year’s Day. Democratic Sen. Elizabeth Warren has introduced a bill with Republican Sen. Roger Marshall that would crack down on money laundering in the crypto world.

The little white kiosk where Juan Carlos Robles-Corona Jr. worked with his mother was barely large enough to fit three or four adults. Juan Carlos, whom relatives and close friends called Junior or J.R., pestered her for months before she gave him a part-time job there. He wanted to be like his mother’s boss: an entrepreneur who owned franchise stores in several cities. Junior with his father, Juan Carlos Robles-Corona, and his siblings Mia, Dylan and Aiden. On April 4, Juan Carlos Robles-Corona Jr. was shot on a street near his public school.

This grassroots protest movement has been driven largely by ordinary farmers like Luiten and their supporters, but it has another element: the far-right. As conspiracy-driven Telegram groups, right-wing commentators and some lawmakers would baselessly put it, Dutch farms are being shut down to make space for asylum-seekers. Right-wing populists around the world have offered their support for the farmers’ stand, including former President Donald Trump, France’s Marine Le Pen and Poland’s far-right populist government. But, in reality, many Dutch farmers are just trying to make a living. Supporters stand on highway bridges every night waving the inverted tricolor as a symbol of defiance against an unpopular government and to call for an end to the nitrogen plan.

☆ A real-estate investor who owns 9 retail properties explains why he transitioned from residential to commercial properties for cash flows and capital appreciation
▼ + stars: | 2022-12-11 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +7 min

Justin Sloan recently finished offloading his residential real estate for commercial properties. Commercial properties are Justin Sloan's bread and butter, but that wasn't the case when he started investing in real estate over 10 years ago. Commercial properties offer 'more predictable business models'Sloan clarified that while he's a "big believer" in multifamily real estate investing, he prefers investing in commercial real estate for a multitude of reasons. Not all commercial properties are created equalHowever, commercial real estate doesn't come without its share of drawbacks. But not all commercial properties are created equal, and landlords can certainly mitigate their portfolios against these losses.

New Delhi CNN —At the Bhalswa landfill in northwest Delhi, a steady flow of jeeps zigzag up the trash heap to dump more garbage on a pile now over 62 meters (203 feet) high. India creates more methane from landfill sites than any other country, according to GHGSat, which monitors methane via satellites. Ragpickers at the Bhalswa landfill site on April 28, 2022, in New Delhi, India. In May, CNN commissioned two accredited labs to test the ground water around the Bhalswa landfill. And according to the results, ground water within at least a 500-meter (1,600-foot) radius around the waste site is contaminated.

☆ The wild success of Walmart's generic cream cheese perfectly encapsulates the problems with the American economy right now
▼ + stars: | 2022-12-09 | by ( Alex Bitter | Ben Tobin | ) www.businessinsider.com time to read: +4 min

Walmart's cream cheese was one of the fastest-growing brands of 2022, according to Morning Consult. It was cream cheese from Walmart. Store-brand cream cheese isn't a typical contender for most popular product, said Emily Moquin, food and beverage analyst at Morning Consult. Philadelphia is the market leader in cream cheese, Morning Consult's Moquin said. "That is partially why we see this very specific category of cream cheese being on the list."

This week she was arrested in a raid as part of a group suspected of plotting to violently overthrow the German government. Prosecutors have said the 58-year-old, a member of the far-right Alternative for Germany (AfD) party, was to become justice minister in a new state headed by aristocrat Heinrich XIII Prinz Reuss after the coup. The AfD said in a statement on Wednesday that it condemned the efforts of the suspected plotters. The inscription 'To the German people' is written above the entrance to the Reichstag building, the seat of Germany's lower house of parliament Bundestag, in Berlin, Germany December 9, 2022. Nationwide it is polling at 14%, making it the most successful far-right party in Germany since World War Two.

☆ NZ's Fonterra cuts milk price forecast as demand weakens
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +1 min

Dec 8 (Reuters) - New Zealand's Fonterra Co-operative Group Ltd (FCG.NZ) on Thursday lowered its farmgate milk price forecast range for the second time for the 2022/23 season on higher costs and softening demand for whole milk powder. The world's biggest dairy exporter now expects to pay farmers between NZ$8.50 and NZ$9.50 per kilogram of milk solid (kgMS), compared with NZ$8.50 to NZ$10.00 per kgMS it forecast in August. Chief Executive Officer Miles Hurrell said demand for whole milk powder has weakened, particularly in Greater China, offset by increased participation from other regions. Fonterra's global milk supply from key exporting regions declined for the 12 months to September, while its New Zealand milk collections dropped 3% season-to-date. The New Zealand dairy giant's first-quarter earnings before interest and taxes rose to NZ$368 million ($234 million), compared to prior year's NZ$190 million.

☆ Nutella maker Ferrero scoops up owner of Blue Bunny ice creams
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +2 min

Wells, which was founded in 1913 as a dairy delivery wagon business, has become the world's largest family owned and managed ice cream company. "This represents a win-win partnership, bringing together ice cream experts and confectionery champions," Giovanni Ferrero said in a statement. "Together, we have the power of one and are well placed to grow and compete in the ice cream market," he added. Ferrero bought Spanish ice cream company ICFC in a two-stage deal in 2019 and 2021. The Wells' transaction, subject to customary closing conditions, is expected to close in early 2023.

☆ Chocolate maker Barry Callebaut boosts investment in Canadian factory
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +1 min

ZURICH, Dec 7 (Reuters) - Swiss chocolate maker Barry Callebaut (BARN.S) is investing $70 million at one of its factories in Canada, the company said on Wednesday, its latest move to expand production in North America. The world's biggest maker of chocolate will add more liquid chocolate and molding production lines at its site in Chatham, Ontario and also improve production of dairy-free chocolate compounds which are used by food makers in desserts, ice cream and confectionery. Barry Callebaut's sales in the Americas increased by 6.4% during its last financial year, outpacing the overall market, which increased by 0.7%. Earlier this year Zurich-based Barry Callebaut said it was spending $104 million to build a new factory in Brantford, Ontario, to produce sugar-free chocolate and other speciality products. Reporting by John Revill; Editing by Michael ShieldsOur Standards: The Thomson Reuters Trust Principles.

☆ EU escalates WTO case against China over patents, Lithuania
▼ + stars: | 2022-12-07 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +3 min

[1/2] Flags of European Union and China are pictured during the China-EU summit at the Great Hall of the People in Beijing, China, July 12, 2016. The disputes, both brought to the WTO at the beginning of the year, concern alleged Chinese restrictions on EU companies' rights to use foreign courts to protect their high-tech patents and on trade with EU member Lithuania. The Commission formally requested consultations with China at the WTO, the first step in a WTO challenge. The panel requests come as the European Union reviews its stance towards China, seeing it increasingly as a competitor and system rival than a partner. In the Lithuania case, many of China's actions were not published measures, which are typically the focus for WTO litigation.

☆ Ava DuVernay becomes the first Black woman featured on Ben & Jerry's pint
▼ + stars: | 2022-12-06 | by ( ) www.nbcnews.com time to read: +1 min

Ava DuVernay has become the first Black woman to have her image on a Ben & Jerry’s pint. directed by Ava DuVernay,” which will feature a mix of vanilla ice cream with salted caramel swirls, graham cracker swirls and gobs of chocolate chip cookie dough. DuVernay personally curated the flavor creation, which will be available in both milk-based and non-dairy versions. “Partnering with Ben & Jerry’s, a company that I’ve long admired for their commitment to social justice, has been a thrill ride. “Framing this up as a new flavor for the first Black woman to be a featured partner on our pints doesn’t do Ava justice,” Matthew McCarthy, Ben & Jerry’s CEO, said in a statement.

☆ Philadelphia is launching a plant-based cream cheese
▼ + stars: | 2022-12-06 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +5 min

New York CNN Business —Philadelphia Cream Cheese is launching a non-dairy version of its signature spread. The plant-based cream cheese is now available at grocery stories in Atlanta, Houston, Miami and other locations in the Southeast, with a wider rollout planned for summer 2023. Philadelphia's plant-based cream cheese is available in the Southeast. According to data from IRI, only about 41% of households who buy plant-based cream cheese make a second purchase within the year. “It’s just easier to forgo cream cheese and cheese … than it is to forgo meat,” he said.

☆ Man demanded $300K before killing 4 Chinese nationals at Oklahoma pot farm, prosecutors say
▼ + stars: | 2022-12-05 | by ( Marlene Lenthang | Marlene Lenthang Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +3 min

A man accused of killing four people at an illegal Oklahoma marijuana farm last month opened fire after demanding employees give him $300,000 as a return for his “investment” in the illegal operation, prosecutors said. He is accused of killing Chinese nationals Quirong Lin, Chen He Chun, Chen He Qiang and Fang Hui Lee and injuring Yi Fei Lin, according to charging documents. Police respond to a crime scene where four people were found dead in Kingfisher County, Oklahoma, on Nov. 21, 2022. The marijuana farm has since been seized by law enforcement, the filing stated. Law enforcement officials have reported a rise in black market operators using suspected human trafficking victims, including Chinese nationals, to grow and trim marijuana sold in legal dispensaries.

☆ An Ohio family is suing Kroger claiming their son who killed himself after working there was harassed by his managers in case that challenges 'suicide rule'
▼ + stars: | 2022-12-02 | by ( Bethany Biron | ) www.businessinsider.com time to read: +4 min

The family of Evan Seyfried, who died by suicide in March 2021, is suing his employer claiming he was harassed and bullied. The lawsuit against Kroger challenges a decades-old precedent in Ohio that prevents placing legal blame in the case of suicide. Evan Seyfried's family claims store managers harassed and bullied him, ultimately causing Seyfried to take his own life in March 2021. Pigg, the suit claims, told Seyfried he could hack into Seyfried's computer and track his internet usage, and later allegedly sent him obscene and pornographic messages from unknown numbers. Kroger did not respond to Insider's request for comment, but told the Enquirer it does not comment on ongoing litigation.

☆ World food prices ease further in November, says FAO
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +2 min

The Food and Agriculture Organization's (FAO) price index, which tracks the most globally traded food commodities, averaged 135.7 points last month, down from 135.9 for October, the agency said on Friday. Lower readings for cereals, meat and dairy products in November offset higher prices for vegetable oils and sugar, the FAO said. The slight decrease in November meant that the FAO food index is now only 0.3% above its level a year earlier, the agency said. The FAO warned last month that expected record food import costs in 2022 would lead the poorest countries to cut back on shipped volumes. In separate cereal supply and demand estimates, the FAO lowered its forecast for global cereal production in 2022 to 2.756 billion tonnes from 2.764 billion estimated last month.

☆ From turkeys to booze, prices for these 25 popular holiday expenses increased the most since last year
▼ + stars: | 2022-12-02 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

As the holiday season gets into full swing, expect some sticker shock. The cost of most holiday staples, such as turkey and booze, has increased dramatically in the last year. With year-over-year inflation up 7.7% overall, most items bought over the holidays have increased in price. The study identified 40 commonly purchased holiday items across four categories: gifts, experiences, travel and entertaining. As of October, the average American spends an extra $433 per month on expenses, compared with a year ago, according to an estimate from Moody's Analytics.

☆ UK fresh food prices climb record 14.3% in November – BRC
▼ + stars: | 2022-11-30 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

The British Retail Consortium (BRC) said fresh food prices were 14.3% higher this month than a year ago. Other food item prices surged at the fastest pace on record to 12.4% in November, up from 11.6% the month before, it said. Overall shop price inflation rose to 7.4%, a record for the index which started 17 years ago, and up from 6.6% in October. "Food prices have continued to soar, especially for meat, eggs and dairy, which have been hit by rocketing energy costs, and rising costs of animal feed and transport," she said. Market research firm NielsenIQ, which co-produces the data, said Christmas will become more expensive as higher prices are already forcing consumers to limit spending on non-essential items.

☆ Products Made With Captured Greenhouse Gas Are Reaching Commercial Scale
▼ + stars: | 2022-11-28 | by ( Dieter Holger | ) www.wsj.com time to read: +6 min

Straws, bottles and packaging made with captured greenhouse-gas are starting to reach commercial scale, offering a way for businesses making and using everyday products to reduce emissions contributing to global warming. Origin Materials Inc. and Newlight Technologies Inc. are trying to meet that demand by bringing factories online that use captured emissions to manufacture materials used to make products including clothes, tires and plastic bottles. Sourcing and transporting raw inputs and captured CO2 are crucial to a product’s so-called carbon-negative credentials, meaning more CO2 is stored than created. The private company sources captured emissions from dairy farms, ethanol plants and landfills, and is expanding into coal mines and exploring direct-air capture. Competitor Origin Materials has a different approach to acquiring captured emissions and plans for its first commercial-scale factory to come online next year.

☆ 'Battle-hardened' food banks and pantries are already struggling to cope even before the recession finally arrives
▼ + stars: | 2022-11-26 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +5 min

Families are turning to food banks and pantries for support, but many are struggling to meet demand. "Families and food banks are facing a perfect storm," says Stephanie Sullivan of Food Bank for the Heartland. Feeding America's most recent survey found that 60% of US food banks reported an increase in demand. It is one of just six US food banks to have such a facility, which it calls a "huge step" towards fighting food insecurity. After much hesitation, the woman finally paid her local food pantry a visit.

☆ Ukrainian President Zelenskyy compares Russian invasion to Stalin-era genocide: 'They want to destroy us again'
▼ + stars: | 2022-11-26 | by ( Katie Balevic | ) www.businessinsider.com time to read: +3 min

President Zelenskyy compared Russian war tactics to the Soviet-era genocide, which left millions dead. Russia has blocked key Ukrainian ports, preventing the global export of grains. Zelenskyy drew the comparison at the Ukrainian International Summit on Food Security on Saturday, accusing Russia of causing another global crisis. On Saturday, Zelenskyy accused Russia of using the same tactics in its war of aggression against Ukraine. "We must prevent the further spread of this crisis and this global challenge," Zelenskyy said Saturday.

☆ Thanksgiving leftovers: What to do with all the food
▼ + stars: | 2022-11-25 | by ( Casey Barber | ) edition.cnn.com time to read: +6 min

But it’s just as easy to chop up leftover Thanksgiving turkey and sneak it into non-holiday comfort food. Use leftover Thanksgiving turkey to make turkey black bean enchiladas. A lemony Dijon dressing can brighten a grain bowl made with holiday leftovers. Leftover stuffing mixed with eggs and a touch of broth or gravy are all you need to turn Thanksgiving stuffing into a savory next-day breakfast. If that kind of post-holiday meal suits you, make this Thanksgiving leftover pizza and savor the classic flavors on a slice rather than between bread.

☆ NZ's Fonterra plans to implement new capital structure by late March
▼ + stars: | 2022-11-24 | by ( ) www.reuters.com time to read: +1 min

Nov 25 (Reuters) - New Zealand dairy giant Fonterra Co-operative Group Ltd (FCG.NZ) said on Friday it would implement its new capital structure, intended to make it easier for new farmers to join the co-operative, in late March next year. The dairy firm's farmer shareholders in December last year gave the go-ahead for the capital restructuring that aims to claw back domestic market share and retain existing farmers by reducing the minimum supply requirement for farmer owners. "We believe late March is the best date for implementation because it avoids our share trading black-out period associated with the Co-op's interim results," Fonterra Chairman Peter McBride said. "It also gives shareholders time to fully digest the detailed information we will be sending through ahead of the implementation date, and to seek advice from their financial advisors." Fonterra will finalise the implementation date at its interim results, currently scheduled for mid March.

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