USA: Anheuser-Busch InBev has announced the loss of 1,400 jobs in its beer division, just weeks after InBev completed its purchase of American business Anheuser-Busch. The job losses amount to 6% of the company's US workforce, and are mostly engineering and IT jobs. The company is also cutting back on its brewery headcount, and has decided not to fill 250 vacancies and to cut 415 contractor jobs.
CHINA: The Chinese authorities have launched a major crackdown on illegal food practices in the wake of the melamine scare that caused the deaths of five children and made nearly 300,000 ill. "The recent major food safety incident showed it is currently a very serious problem that illegal non-edible substances are added and additives are in excessive amounts in food items," the Government said in an announcement on its website. During a four-month safety campaign, government officials will raid food companies and carry out random checks on food sold at markets. Authorities have already started to ban the supply of non-food substances to food companies .
USA: Whole Foods Market is attempting to sue the Federal Trade Commission over the handling of its acquisition of rival company Wild Oats. Last year Whole Foods Market paid $565m (£384m) for Wild Oats, but since then the deal has been in legal limbo. The Federal Trade Commission initially had concerns the deal would create a monopoly, but federal judges gave it the go ahead. But after Whole Foods Market started putting up its signs and training staff, an appeal threw the decision back into question. Whole Foods Market is campaigning for the decision to be finalised in a federal court and has accused the Federal Trade Commission of being "hopelessly biased".
INDIA: Subhiksha, the largest supermarket chain in India, has not paid staff in its 97 stores in the city of Chennai for two months, giving them groceries in lieu of pay. The retail chain runs more than 1,400 stores in the country, but according to reports, major suppliers have stopped delivering because the company has defaulted on payments. Nobody from the company was available to comment.
USA: Kroger has reported like-for-like sales in the third quarter up 5.6% excluding fuel, despite the damage inflicted on the company's stores during Hurricane Ike. Profits were level at $253m (£172m). "Kroger's sales continue to be strong in this tough economy," said chairman and chief executive David Dillon. "We know that our customers are increasingly feeling pressured. Kroger's focus on low prices, quality products and providing a convenient, one-stop solution is resonating with them. Our associates continue to build customer loyalty through our 'Customer 1st' strategy, which allows us to create a solid return for shareholders even as the economy presents new challenges."
CHINA: The Chinese authorities have launched a major crackdown on illegal food practices in the wake of the melamine scare that caused the deaths of five children and made nearly 300,000 ill. "The recent major food safety incident showed it is currently a very serious problem that illegal non-edible substances are added and additives are in excessive amounts in food items," the Government said in an announcement on its website. During a four-month safety campaign, government officials will raid food companies and carry out random checks on food sold at markets. Authorities have already started to ban the supply of non-food substances to food companies .
USA: Whole Foods Market is attempting to sue the Federal Trade Commission over the handling of its acquisition of rival company Wild Oats. Last year Whole Foods Market paid $565m (£384m) for Wild Oats, but since then the deal has been in legal limbo. The Federal Trade Commission initially had concerns the deal would create a monopoly, but federal judges gave it the go ahead. But after Whole Foods Market started putting up its signs and training staff, an appeal threw the decision back into question. Whole Foods Market is campaigning for the decision to be finalised in a federal court and has accused the Federal Trade Commission of being "hopelessly biased".
INDIA: Subhiksha, the largest supermarket chain in India, has not paid staff in its 97 stores in the city of Chennai for two months, giving them groceries in lieu of pay. The retail chain runs more than 1,400 stores in the country, but according to reports, major suppliers have stopped delivering because the company has defaulted on payments. Nobody from the company was available to comment.
USA: Kroger has reported like-for-like sales in the third quarter up 5.6% excluding fuel, despite the damage inflicted on the company's stores during Hurricane Ike. Profits were level at $253m (£172m). "Kroger's sales continue to be strong in this tough economy," said chairman and chief executive David Dillon. "We know that our customers are increasingly feeling pressured. Kroger's focus on low prices, quality products and providing a convenient, one-stop solution is resonating with them. Our associates continue to build customer loyalty through our 'Customer 1st' strategy, which allows us to create a solid return for shareholders even as the economy presents new challenges."
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