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Uncertainty among U.S. shippers is escalating into 2025 with the expectation of new Trump tariffs and the possibility of a new ports strike that could begin in mid-January. The earliest new tariffs could be in effect is in late February or early March, according to an alert from C.H. Travel time for ocean freight from China to the East Coast and Gulf Coast ports is 40-55 days. He added that making these types of decisions has become part of the typical uncertainty that the supply chain needs to be prepared to face. "I was running a high-tech manufacturing operation before I took this job and we did manufacturing through China," Rhodes said.
Persons: Honour Lane Shipping, Robinson, USMX, Corey Rhodes, Rhodes Organizations: Trump, CNBC, Honour Lane, ILA, United States Maritime Alliance, Whirlpool, AB InBev, Danone Locations: Asia, Southern California, New England, Texas, China, East Coast, Gulf Coast
European stocks are expected to open in mixed territory on Thursday, as traders await another batch of earnings reports, and as U.S. market declines weigh on global sentiment. The U.K.'s FTSE 100 index is expected to open 26 points higher at 8,281, Germany's DAX down 6 points at 19,377, France's CAC down 3 points at 7,495 and Italy's FTSE MIB up 17 points at 34,532, according to IG data. It's another busy day of European earnings on Thursday with Barclays , Renault , Unilever , Hermes , Sodexo , Saab, Danone and Dassault Systemes among those reporting.
Persons: Germany's DAX Organizations: France's CAC, Barclays, Renault, Unilever, Hermes, Saab, Danone, Dassault Systemes
Unilever sells its business in Russia
  + stars: | 2024-10-10 | by ( ) edition.cnn.com   time to read: +2 min
Unilever, owner of brands including Dove soap and Hellmann’s mayonnaise, said Thursday that it has completed the sale of its Russian business to Arnest Group, a local manufacturer of perfume, cosmetics and household products, for an undisclosed amount. The British consumer goods company said the sale includes all of its business and four factories in Russia as well as its business in Belarus. “Over the past year, we have been carefully preparing the Unilever Russia business for a potential sale. The Kremlin demands a discount of at least 50% on exit deals involving firms from what it calls “unfriendly” countries — those that have imposed sanctions against Russia. The exodus of firms from Russia has cost foreign companies more than $107 billion in writedowns and lost revenues, according to a Reuters analysis in March.
Persons: Hein Schumacher, Unilever’s, ” Schumacher Organizations: Unilever, Arnest Group, , Unilever Russia, Kremlin, Russia, Arnest, Danone Locations: Russia, Belarus, Ukraine, writedowns
CNN —General Mills will sell its North American yogurt business to French dairy firms Groupe Lactalis and Sodiaal in a $2.1 billion deal, the Cheerios maker said on Thursday. Reuters reported in April that General Mills was working with investment bank JPMorgan Chase to attract interest from potential buyers for the business, which houses brands such as Yoplait and Liberté. The North American yogurt business contributed about $1.5 billion to General Mills’ fiscal 2024 net sales. Bloomberg News earlier on Thursday reported that General Mills was in talks to sell the North America yogurt operations to Groupe Lactalis and Sodiaal. In 2021, General Mills sold the European operations of Yoplait to Sodiaal.
Persons: Mills, Lactalis, Sodiaal, Jeff Harmening, Yoplait, General Mills Organizations: CNN, Groupe Lactalis, Canadian, Reuters, JPMorgan Chase, Bloomberg, General, PAI Partners Locations: U.S, Valley , Minnesota, North America, Yoplait, Sodiaal
Two Canadians died from infections caused by listeria after drinking popular milk substitutes based on almonds, oats, cashews and coconuts that were sold under the Silk and Great Value brands, the country’s health department said Wednesday night. Another 10 infections, most of them affecting residents of Ontario, have been confirmed by laboratory tests, the department, Health Canada, said in its health notice. But she said the plant is in Ontario and that none of the products were distributed outside of Canada. Because of Canada’s privacy laws, no personal information about the victims was released. The refrigerated plant-based products are sold in milk cartons and are viewed by some as a healthier alternative to cows’ milk.
Persons: Jennifer Vincent Organizations: Value, Health, Danone, Canada Food Inspection Agency, Canadian, Evian Locations: Ontario, Health Canada, Canada
Read previewThe Atlantic diet, based on traditional eating habits in regions of Spain and Portugal, could help you switch up your snacking habits for a longer, healthier life, according to a dietitian. AdvertisementFollowing a flexible eating plan like the Atlantic diet can help you make healthier long-term choices, such as swapping out processed snack foods for nutritious but delicious alternatives. Adding more beans to your diet can also help you follow the more flexitarian eating style of the Atlantic diet and its Mediterranean cousin by eating meat in moderation. You don't have to opt for tuna if you prefer salmon or even sardines since all kinds of seafood are encouraged on the Atlantic diet. While the Atlantic diet does emphasize whole foods, the focus is adding more healthy foods to your diet, instead of trying to cut back or deprive yourself.
Persons: , Amanda Blechman, Blechman, healthiest, she's, dietitians Organizations: Service, Business, Danone North Locations: Spain, Portugal, Danone North America, Tuna
But health professionals are warning consumers not to take medical advice from the same companies trying to sell them food, supplements and other consumables. “People who are on (GLP-1 drugs) eat less calories. Daily Harvest, a meal kit service, has a GLP-1 food collection. In May it announced a new line of frozen meals called Vital Pursuit, pitching the brand to users of weight loss drugs. Some taking GLP-1 drugs have reported losing hair and muscle.
Persons: Ozempic, JP Morgan, , , Donny Kranson, GLP, Nestlé’s, Jorge Moreno, Jody Dushay, Tom Little, “ I’m, , 1nutrition.com, Atkins, Robert Atkins, Nestlé, Mark Schneider, Marie Callender’s, Slim Jim, Orville Redenbacher’s, Tom McGough, William Dietz Organizations: New, New York CNN, , Vontobel Asset Management, GNC, Nestlé, Visitors, Yale School of Medicine, Physicians, Harvard Medical School, Danone, Bloomberg, STOP, George Washington University Locations: New York, United States, Switzerland, Novo Nordisk's, Hillerod, Denmark, what’s, Conagra, GLP
Western firms in Russia risk losing their assets if the US touches Russia's frozen reserves, a think tank expert wrote. Instead, Moscow could target foreign holdings that remain in Russia, making Western companies vulnerable to costly expropriation risk. That's on top of previous measures Russia introduced in retaliation to Western sanctions, such as the freezing of bank accounts owned by "unfriendly" non-residents. Taking the Kremlin at its word, $290 billion worth of Western assets are liable for seizure. "Earlier this month, Russia seized more than €700m ($757m) from three Western banks after a construction project fell apart as a result of Western sanctions.
Persons: Elisabeth Braw, , Braw, That's, David O'Sullivan Organizations: Service, Atlantic, Center for, West, Reuters, Carlsberg, Danone, European, RBC Ukraine Locations: Russia, West, Moscow, Russian, Ukraine
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDanone CEO: Our dependence on nature means sustainability is at our coreAntoine de Saint-Affrique, CEO of Danone, discusses what the company is doing to deal with the cost-of-living-crisis and climate change, among other things.
Persons: Antoine de Saint Organizations: Danone
Danone CEO discusses partnership with the 2024 Paris Olympics
  + stars: | 2024-04-04 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDanone CEO discusses partnership with the 2024 Paris OlympicsAntoine de Saint-Affrique, CEO of the French food company, discusses the company's partnership with the 2024 Paris Olympics.
Persons: Antoine de Saint Organizations: Danone
Bloomberg | Getty ImagesThe CEO of French consumer goods giant Danone downplayed the threat of obesity drugs on its food business, arguing that consumers were likely to turn to healthy products as part of their new weight loss regime. Antoine de Saint-Affrique said that surging demand for drugs like Wegovy and Mounjaro would only increase consumer appetite for more nutritional products. "We see ourselves as extremely complementary to GLP-1s," de Saint-Affrique told CNBC's Charlotte Reed Wednesday. GLP-1s, or glucagon-like peptide 1 agonists, are the underlying class of drugs in weight loss injections such as Wegovy and Mounjaro. watch nowThe rapid rise of such drugs has prompted concern among food makers, who fear falling sales as consumer appetite wanes.
Persons: Antoine de Saint, Affrique, Mounjaro, CNBC's Charlotte Reed, de, Kepler Cheuvreux Organizations: Danone SA, Bloomberg, Getty, Danone, Novo Nordisk
Danone products complementary to GLP-1s, says CEO
  + stars: | 2024-04-04 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDanone products complementary to GLP-1s, says CEOAntoine de Saint-Affrique, CEO at Danone, discusses the impact of anti-obesity drugs on the business.
Persons: Antoine de Saint Organizations: Danone
Zhong and his drinks firm Nongfu Spring, the country’s biggest maker of bottled water, are the latest targets of an army of internet zealots. WeiboThe nationalists have also highlighted the fact that prominent US investment funds, including Vanguard and BlackRock, are major shareholders of Nongfu Spring. “Taking advantage of Mr Zong’s death, a lot of slander against me and Nongfu Spring appeared on the internet. “Whether Wahaha or Nongfu Spring, we always insist on the same thing — producing good products for the people,” he said. Nongfu Spring is just the latest major target of China’s nationalists.
Persons: Hong Kong CNN — Zhong Shanshan, Zhong, Zong Qinghou, Zong, Zhong’s, , “ Zhong Shuzi, , , He’s, Mr Zong’s, ” Zhong, influencers, netizens, “ Zong, Wei Jiang, Mo Yan, Mao Zedong, Stringer, Li Ning Organizations: Hong Kong CNN, Wahaha, Danone, Weibo, , Vanguard, BlackRock, Nongfu, American, Wahaha’s, CNN, Zhejiang Daily, Communist Party, Auto, Zhejiang University of Finance, Economics, People’s Liberation Army, AFP, Getty, Nike, Adidas, United, Toyota, Honda Locations: China, Hong Kong, Beijing, American, Weibo, Nongfu, Zhejiang, Hami, China's, Xinjiang, AFP, United States, Japan
Does Eating Yogurt Reduce Your Diabetes Risk?
  + stars: | 2024-03-05 | by ( Alice Callahan | ) www.nytimes.com   time to read: +1 min
Nonfat or full-fat, flavored or plain, probiotic or natural — yogurt is already peppered with labels. But you may soon see a new claim on your container: This month, the Food and Drug Administration announced it will allow yogurt makers to say their products may prevent Type 2 diabetes. said it has found “limited scientific evidence” that consuming yogurt may reduce the risk of Type 2 diabetes. The agency’s decision came in response to a petition submitted on behalf of Danone North America, which makes yogurts sold under brands including Activia, Dannon and Oikos. Yogurt can be a nutrient-rich food and part of a healthy diet, and there is some evidence to suggest that people who eat it regularly have a lower risk of Type 2 diabetes, said Dr. Frank Hu, a professor of nutrition and epidemiology at the Harvard T.H.
Persons: Frank Hu, , Bonnie Liebman Organizations: Food and Drug Administration, Danone North, Harvard, of Public Health, Center for Science Locations: Danone North America, Chan
CNN —In a decision nearly five years in the making, the US Food and Drug Administration has decided that yogurts can now make a limited claim that the food may reduce the risk of type 2 diabetes, the federal agency concluded Friday. The decision marks the first-ever qualified health claim the federal agency has issued for yogurt. Qualified health claims “are supported by scientific evidence, but do not meet the more rigorous ‘significant scientific agreement’ standard required for an authorized health claim,” according to the FDA. The submission set in motion an FDA review of existing research on the relationships between yogurt and type 2 diabetes, according to a news release. Qualified health claims have been allowed by the FDA for dietary supplements since 2000 and for food since 2002, but they are rarely announced.
Persons: , Gurbuz, Streptococcus, Lisa Drayer Organizations: CNN, US Food and Drug Administration, FDA, , Getty, Danone North America
The self-made billionaire, who was once China’s richest man, died of an illness on Sunday at the age of 79, his company Hangzhou Wahaha Group said in a brief statement, without providing further details. Victory in that bitter battle boosted Zong’s wealth to $8 billion, making him China’s richest man in 2010 and again in 2012, according to Forbes. He was nicknamed “the richest man in cloth shoes” for always sporting plain black shoes, complete with a dark jacket and slacks. That year, Zong founded the Hangzhou Wahaha Group after acquiring a failing state-run canned food factory. The dispute was eventually settled in 2009, with Danone selling its stake for about $500 million and ceding all control to Wahaha.
Persons: Hong Kong CNN — Zong Qinghou, Zong, Forbes, Jack Ma, Lei Jun, Zong Fuli, Mao Zedong’s, , Deng Xiaoping, Wahaha, Danone Organizations: Hong Kong CNN, Hangzhou Wahaha, Danone, Forbes, Getty Locations: China, Hong Kong, Hangzhou, , Guangzhou, Beijing
Zong Qinghou, a self-made beverage entrepreneur who was once the richest person in China, died on Sunday. His death was announced by his company, Wahaha Group, which said that Mr. Zong had died from an unspecified illness and gave his age as 79. Mr. Zong’s rags-to-riches story had made him prominent in China even before a public feud with his foreign business partner considerably raised his profile — and his wealth. He founded a beverage company in the 1980s, and in the 1990s, he partnered with Danone, the French food giant, to launch one of the best-known food and beverage brands in China. But tensions erupted in 2007 when Danone accused Mr. Zong of running secret companies selling virtually identical products that siphoned off as much as $100 million from the joint venture.
Persons: Zong Qinghou, Zong Organizations: Wahaha, Danone Locations: China
FRANKFURT, Germany (AP) — The Dutch parent of pioneering Russian tech company Yandex is selling its operations in the country at a steeply discounted price of just over $5 billion to its Russia-based managers and oil company Lukoil, one of the biggest deals for Western-held companies to exit Russia since the invasion of Ukraine. He subsequently condemned Russia's invasion as “barbaric.” The Nasdaq exchange suspended trading in Yandex shares days after the invasion. After the sale, Yandex NV would be left with its international businesses — employing 1,300 people — including self-driving technology and generative artificial intelligence as well as a data center in Finland. Yandex NV Chairman John Boynton said the company had faced “exceptional challenges” since the start of the war. None of the purchasers have been sanctioned, Yandex NV said, and the cash part of the transaction would be conducted in Chinese yuan outside of Russia.
Persons: Vladimir Putin's, Arkady Volozh, Dmitry Peskov, , , Alexander Chachava, Pavel Prass, Alexander Ryazanov, John Boynton, Boynton, McDonald’s, France’s Renault, Baltika Organizations: Western, Nasdaq, Yandex, Google, Yahoo, European Union, Companies, Baltika Breweries, Danone Locations: FRANKFURT, Germany, Russian, Russia, Ukraine, Moscow, Netherlands, Israel, Finland, Avtovaz, Western
And on that front, we are not asking BP to renege on its strategy, but to adapt its strategy to the reality." Auchincloss has since been appointed as permanent CEO of the British oil and gas major. In response to the publication of the letter, a spokesperson for BP said the company "welcomes constructive engagement" with its shareholders. We continue to make significant progress, remain focused on delivery, and are confident the strategy will grow the value of bp and deliver sustainable long-term value for shareholders," BP said. Bivona declined to disclose Bluebell's stake in BP, saying that it was below a reporting threshold.
Persons: Giuseppe Bivona, Bivona, CNBC's, Bivone, Marco Taricco, Helge Lund, Murray Auchincloss, Auchincloss Organizations: Capital Partners, BP, Financial, Danone Locations: Bluebell, London
Read previewPublic data company LiveRamp has agreed to acquire five-year-old startup Habu in a cash and stock deal valued at $200 million. LiveRamp CEO Scott Howe said the deal will help LiveRamp scale and grow partnerships with the cloud companies and platforms that Habu works with — like Google, Meta, and Disney. Habu will help LiveRamp expand its base of small and midsize clients. Habu's capabilities extend beyond marketing, and its clients use its technology to support applications around supply-chain data, healthcare data, and financial services data. Howe said these use cases could help LiveRamp expand its business beyond marketing to help companies manage data more broadly.
Persons: , LiveRamp, Clark, Habu, Matt Kilmartin, Scott Howe, Howe, Vihan Sharma Organizations: Service, Business, Danone, Google, Asics, PepsiCo, Wing Venture Capital, Snowflake Ventures, Disney Locations: Kimberly
Instacart is opening up its ads program to sell targeted Google ads. Instacart's shopper data will be used to target the ads to specific groups of shoppers. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Under the deal, Instacart will use Google Shopping ads to get consumers to buy products from Kraft Heinz, Danone, and others on its platform. Instacart will use its own shopper data to target consumers so it can, for instance, send an ad for Kraft Heinz's Philadelphia Cream Cheese to a repeat Instacart shopper searching for cream cheese on Google.
Persons: Organizations: Service, Google, Kraft Heinz, Danone, Kraft Heinz's, Business Locations: Kraft Heinz's Philadelphia
A man talks on the phone during the United Nations Climate Change Conference (COP28), in Dubai, United Arab Emirates, December 4, 2023. REUTERS/Amr Alfliky Acquire Licensing RightsDec 5 (Reuters) - Six of the world's largest dairy companies will soon begin disclosing their methane emissions as part of a new global alliance launched at the United Nations climate summit in Dubai on Tuesday. Livestock is responsible for about 30% of global anthropogenic methane emissions, from sources like manure and cow burps, according to the U.N.'s Food and Agriculture Organization. The five members of the Dairy Methane Action Alliance - Danone (DANO.PA), Bel Group, General Mills (GIS.N), Lactalis USA, Kraft Heinz (KHC.O) and Nestle (NESN.S) - will begin reporting their methane emissions by mid-2024 and will write methane action plans by the end of that year. Danone this year pledged to cut methane emissions from its fresh milk supply chain by 30% by 2030.
Persons: Amr Alfliky, General Mills, Kraft Heinz, Chris Adamo, There’s, Katie Anderson, Anderson, Leah Douglas, Josie Kao Organizations: United Nations, Change, United Arab Emirates, REUTERS, United, Livestock, Agriculture Organization, Danone, Bel Group, General, Lactalis, Nestle, U.S . Environmental Protection Agency, Clean Air Coalition, United Nations Environment Programme . Companies, Environmental Defense, EDF, Reuters, Thomson Locations: Dubai, United Arab, United Nations, Lactalis USA
MOSCOW, Dec 1 (Reuters) - President Vladimir Putin has signed a decree putting St Petersburg's Pulkovo Airport under the temporary management of a Russian company, wresting control from investors from Germany, Qatar and other Gulf states. The airport's management company has 14 co-owners. The rights of foreign shareholders will pass to two different Russian entities. Russian shareholders will retain their rights. The decree stated that airport's foreign shareholders would be able to restore their rights to stakes in the new company if they apply and conclude corporate agreements that comply with Russian laws on foreign investment.
Persons: Vladimir Putin, Fraport, VTB, Ramzan Kadyrov, Taimuraz, Carlsberg's, Gleb Stolyarov, Alexander Marrow, Ilona Wissenbach, Gareth Jones, Kirsten Donovan Organizations: Petersburg's Pulkovo, Qatar Investment Authority, Russian Direct Investment Fund, Baring, Baltika Breweries, Reuters, Thomson Locations: MOSCOW, Russian, Germany, Qatar, St Petersburg, Abu Dhabi, Russia, Ukraine, Moscow
Branding’s corporate titans face moment of truth
  + stars: | 2023-11-22 | by ( Aimee Donnellan | ) www.reuters.com   time to read: +8 min
Now for the first time this century, sales volumes at the big consumer goods manufacturers are falling. In the first nine months of the year, Kraft Heinz said the quantity of its sold items declined by nearly 6 percentage points year-on-year. That’s likely to allow Nestlé, Kraft Heinz and Unilever to see flat or modest increases in 2023 sales, LSEG data shows. Earlier this year, outgoing Kraft Heinz Chief Executive Miguel Patricio said the company lost market share to a branded competitor that spent more. Unilever, Nestlé and Kraft Heinz have all pointed to a slowing of price growth in the coming year.
Persons: Kraft Heinz, Nestlé, , Xavier Roger, Kraft, what’s, John Furner, Miguel Patricio, Mars, , François, EY, George Hay, Streisand Neto, Thomas Shum Organizations: Reuters, Consumer, Kraft, Unilever, Danone, , United Nations, Reuters Graphics Reuters, Nestlé, Kraft Heinz, Target, Reuters Graphics, Obesity, Mondelez, Walmart, , Thomson Locations: U.S, Europe, Australia, Norway, Chocolat, London
The logo of Russian technology giant Yandex is on display at the company's headquarters in Moscow, Russia December 9, 2022. Dutch holding company Yandex NV's planned restructuring is aimed at recouping some shareholder funds with the sale of its main revenue-generating Russian businesses, such as its search and ride-hailing operations. 'CONTROL FOR LESS'Yandex NV may sell 100% of a holding company set up in Russia's Kaliningrad region, said one of the people. A third source said this scenario would see Yandex NV make a clean break with Russia. Yandex NV shareholders could easily have been left with nothing, said one of the sources.
Persons: Evgenia, Yandex, Yandex's, Arkady Volozh, Russia's, nationalising Yandex, Darya Korsunskaya, Alexander Marrow, David Goodman, Bernadette Baum Organizations: REUTERS, Kremlin, VK, Reuters, Carlsberg, Danone, Yandex, Thomson Locations: Moscow, Russia, Ukraine, Yandex, Dubai, Russia's Kaliningrad, nationalising
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