Campbell Soup Co., ConAgra Foods and Kellogg all indicated they are finding the going tough in the US this week with cuts to financial forecasts. Away from the results, however, it was global rice supplier Amira Nature Foods that grabbed the headlines after being accused of corruption.
Amira Nature Foods faces corruption allegations
Amira Nature Foods stock lost more than one-quarter of its value in New York yesterday (9 February) after allegations emerged that management breached listing rules by cooking the books and using company funds for “personal use”.
Go deeper with GlobalData
Read the US-listed rice supplier’s rebuttal of the allegations here.
Kellogg cuts long-term sales target
Kellogg today (12 February) lowered its long-term sales target, sending shares in the US cereal-to-snacks group sliding in New York.
Read our take on Kellogg’s results and prospects here.
See Also:
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