New York CNN — A slowing economy may lead to a decline in sales of pricey beef cuts, but don’t look for any bargains just yet. Market forces that have been building for a long time, including devastating droughts, will likely keep hamburger and steak prices steady — and relatively expensive. In part, that’s because […]
New York CNN — Tyson is laying off nearly 1,700 workers as it closes two poultry plants in an effort to boost profits. The company will shutter a chicken processing plant in Glen Allen, Virginia that employs 692 people, as well as one in Van Buren, Arkansas, with 969 employees, on May 12. The closure […]
London CNN — Major UK supermarkets have started rationing the sale of some staple fruits and salad vegetables, blaming poor weather that has depressed production in Spain and north Africa. Tesco (TSCDF), the UK’s biggest supermarket, confirmed to CNN Wednesday that it had temporarily capped the number of packs of tomatoes, peppers and cucumbers to […]
New York CNN — Trader Joe’s asked its customers a simple question: If you were to spend the rest of your life on a deserted island, which nine Trader Joe’s products would you take with you? More than 18,000 customers responded to its 14th annual survey ranking the grocery store’s most popular items in nine […]
Hong Kong CNN — An unprecedented wave of Covid cases in China has sparked panic buying of fever medicines, pain killers, and even home remedies such as canned peaches, leading to shortages online and in stores. Authorities said Wednesday they had detected 2,249 symptomatic Covid-19 cases nationally through nucleic acid testing, 20% of which were […]
New York CNN Business — Oscar Mayer. Velveeta. Capri Sun. Kraft Heinz CEO Miguel Patricio admits: Some of the company’s iconic products had become “a little bit dusty.” “For a while, we were apologetic about the brands that we had,” Patricio told CNN Business. “We got distracted believing that the future was launching new small […]
New York CNN Business — Between warnings of a recession, high inflation and layoff fears, the news is bleak. Why not have some chocolate? Chocolate makers are reporting booming sales as stressed out customers reach for something sweet to take the edge off. In the third quarter, sales of Hershey’s (HSY) chocolates, which include Reese’s, […]
New York CNN Business — Barilla can’t avoid a class-action lawsuit over allegedly deceptive advertising about the pasta’s origins, a federal judge ruled this week. At issue is the brand’s slogan “Italy’s No. 1 brand of pasta,” which the lawsuit says can lead customers to believe it’s actually made in Italy. The customers that filed […]
New York CNN Business — Lisa Altman used to take pride in being able to eat what she wanted without worrying much about the cost. When she was growing up, seconds weren’t served and side dishes were rare. “My mom had a budget every week, and she stuck to it,” she said. “As I got […]
Editor’s Note: A version of this story appeared in CNN’s Meanwhile in China newsletter, a three-times-a-week update exploring what you need to know about the country’s rise and how it impacts the world. Sign up here. Hong Kong CNN Business — The future looked promising for Cherry in May last year, when she secured a […]
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