This week, Kraft Heinz Co. announced it was axing 2,500 jobs as the newly-formed giant moves to "streamline" its structure. Elsewhere, Nestle reported its first-half numbers and cautiously indicated some improvement in China.
"Joining the sanctions is a conscious choice that means readiness for retaliatory measures from our part, which have been adopted," Russia's Prime Minister, Dmitry Medvedev, explains why Moscow has extended its import restrictions to four European – and non-EU – states.
"We see an improvement, which we are very pleased with. I want to be careful. There is a lot of volatility in China. We are satisfied with the turnaround in China. That being said we are cautious about the outlook given the volatility" – Nestle CFO François-Xavier Roger comments that Nestle is starting to see a recovery in the performance of its business in China but remains cautious on the macroeconomic outlook for the market.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData"We have developed a new streamlined structure for our organisation to simplify, strengthen and leverage the company’s scale. This new structure eliminates duplication to enable faster decision-making, increased accountability and accelerated growth. These necessary actions will better position the company for future growth" – a spokesperson for Kraft Heinz Co. comments after the company announces it is cutting 2,500 jobs across the US and Canada.
"I will listen to anything my friends at 3G want to do but with Kraft Heinz we have our work cut out for us for a couple of years. I think it is quite unlikely" – in an interview with CNBC, Warren Buffett appears to cool talk linking Kraft Heinz with interest in Mondelez International – in the short term at least.
"The new group will be bigger, stronger, more efficient and more innovative than its component parts, offering significant benefits not only to consumers, but to all of our stakeholders" – James Hill, Findus CEO comments after Nomad Foods strikes a deal to acquire its European assets. He describes the move is a "positive development for the European food industry as a whole".
"After great patience, we have concluded that we must act to protect our company, our people, and our investors from this vicious cabal of market manipulators and their lies and other egregious misconduct" – Karan Chanana, chairman of Amira Nature Foods, announces the firm is taking legal action against Prescience Point which earlier this year alleged Amira was cooking the books.
"I have heard directly from food and drink producers in other countries that are ditching GM because of a consumer backlash. The Scottish government has long-standing concerns about GM crops – concerns that are shared by other European countries and consumers, and which should not be dismissed lightly" – Richard Lochhead, Scotland's Rural Affairs Secretary, confirms Holyrood intends to take advantage of new EU rules allowing countries to opt out of growing EU-authorised GM crops.
"This is a well-positioned, fast growing company with excellent brand equity and an on-trend organic portfolio that appeals to today's consumers" – Flowers Foods CEO, Allen Shiver, on the advantages of the bakery giant's move for US organic bread supplier Dave's Killer Bread.
"Today is an exciting and pivotal moment for the growth of wholefood snacking" – Natural Balance Foods co-founders Jamie and Greg Combs on the sale of a majority stake in the Nakd and Trek owner to Belgium's Lotus Bakeries.
"EU food companies will be able to use Vietnam as a hub for their expansion in the ASEAN [Association of Southeast Asian Nations region] and Asia Pacific" – Kosona Chriv, managing director of agro-investment consultants Smart International, says the free trade deal between Brussels and Vietnam will bring benefits to European brands.
