USA: Heinz will not abandon troubled tuna business
Earlier this week, US food group HJ Heinz revealed a fourth quarter loss of US$171m, down from net earnings of US$97.3m for the year previous. Slipping into the red, Heinz blamed the US$299m restructuring charges at its tuna and pet food operations announced in March, but yesterday CEO Bill Johnson defied analysts by stressing that he still has no intention of abandoning the problematic tuna business.
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