The slowdown in the UK economy appears to be helping one business. This week, Morrisons revealed financial results that showed it was adapting better to the challenging trading conditions than its rivals. Across the Atlantic, meanwhile, leading US executives indicated how tough the economic environment is in the US. Click on the headlines for more.
Morrisons prospers amid tough economic climate
The UK retailer is outperforming its peers and chief executive Dalton Philips is implementing a series of initiatives it hopes will drive further growth.
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US: “Stagflation” hurting FMCG companies – PepsiCo CFO Johnston
PepsiCo CFO Hugh Johnston has claimed a “stagflationary environment” is harming consumer product manufacturers.
US: “New reality” makes Kraft split vital – Rosenfeld
The chief executive of Kraft Foods has asserted that the planned split of the company into two separate units is vital to face the “new reality” of the food industry.
UK/FRANCE: R&R Ice Cream buys French firm Pilpa
UK-based R&R Ice Cream has struck an agreement to buy French own-label firm Pilpa in a deal worth EUR27m (US$38.2m).
NZ/UK: Fonterra, First Milk sign whey protein JV
Fonterra, the New Zealand dairy giant, has signed a deal to make whey proteins with UK co-op First Milk.
UK: Pension row could lead to strikes at Unilever
Unilever workers in the UK are set to vote on whether to strike in protest at the company’s plans to change its pension scheme.
On the money: Thorntons keeps faith in multi-channel strategy
UK chocolate maker Thorntons remains positive about its prospects and confident in its strategy despite reporting annual losses this morning (7 September).
Comment: Doubts remain over Campbell’s new direction
The US food maker has had a challenging couple of years but is under the stewardship of new CEO Denise Morrison. However, can her “new strategic direction” pay off?
Comment: FDA-Fresh Del Monte spat helps no one
The row between the Food and Drug Administration (FDA) and Fresh Del Monte Produce, which has led to the fruit and vegetable company filing lawsuits against the US food watchdog and Oregon Health Authority, poses some difficult questions for regulators, politicians and for companies.
CZECH: Ahold reveals plans to open “dozens” of stores
Dutch retail chain Ahold has confirmed it plans to open “dozens” of new stores in the Czech Republic.
