Food and drink
Experts say high food prices are here to stay. Here’s why
Inflation has steadily cooled over the past two years, despite seeing a slight stall in October and November. Prices for items such as gasoline, used cars and energy have all declined accordingly. However, food prices continue to outpace inflation, increasing by 28% since 2019. More than 85% of consumers report feeling frustrated with rising grocery […]
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FDA raises recall alert to highest level on Costco eggs over risk of severe illness or death due to salmonella
Eggs are displayed for sale inside a Costco store in Hawthorne, California, on January 26, 2023. Patrick T. Fallon | AFP | Getty Images Federal food regulators raised their alarm for recalled eggs sold from Costco stores over possible salmonella exposure, reclassifying the targeted product to their highest risk level. The FDA had previously announced on Nov. 27 that about […]
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The ‘weight-loss trade’ has stalled. What it will take to revive investor interest
Anyone who’s been on a diet can likely relate: Those first lost pounds are met with a sense of euphoria. The voice inside one’s head screams: “I’ve got this!” But then, it inevitably becomes a slog. The initial novelty wears off, and the real work begins. Investors may see a parallel to the initial elation […]
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Grubhub to pay $25 million in FTC settlement over harmful practices against diners, workers
An app-based delivery worker waits outside of a restaurant in New York City on July 7, 2023. Spencer Platt | Getty Images Grubhub will pay $25 million to settle a lawsuit from the Federal Trade Commission and Illinois Attorney General Kwame Raoul over alleged unlawful practices that harmed diners, workers and small businesses, the FTC […]
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82-year-old billionaire CEO shares his advice for the younger generation: ‘Have a go, don’t stand around thinking about it’
Jack Cowin is the founder and chairman of Competitive Foods Australia, the company that operates Hungry Jack’s. Mark Evans | Getty Images Sport | Getty Images At 82, self-made billionaire Jack Cowin has a number of simple truths about life and business to share. “I didn’t come from [money] … I’m kind of self-made. I […]
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Why fast-food companies like KFC and Chick-fil-A are betting on chicken tenders again
Fast-food companies like Yum! Brands’ KFC and McDonald’s are getting back into chicken tenders as a way to attract consumers with a low-risk, high-reward bet on a familiar favorite. Nearly half of all fast-food restaurants served the chicken item as of the third quarter, up 5.7% from the same period in 2019, according to […]
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Coffee prices climb to near 50-year highs — and it may take years for the rally to run out of steam
A coffee cup with a printed message from Salvadoran President Nayib Bukele’s X account is pictured at Franco’s Pupusa restaurant in San Salvador on July 17, 2024. Marvin Recinos | Afp | Getty Images A record-breaking rally for coffee prices shows no sign of slowing down, analysts say, with some warning it could take years […]
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He bought a KFC store in Australia for $100,000 in 1969. Today, his fast food company is worth over $3 billion
Jack Cowin, founder and chariman of Competitive Foods Australia. Courtesy of Jack Cowin As a kid, Jack Cowin shoveled snow, delivered newspapers and sold Christmas cards for cash. By the time he reached his 20s, it was burgers instead of cards. Fast forward to today: The 82-year-old is a billionaire, thanks to his fast food […]
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Food prices are at their highest levels in over a year. And these items will get even more expensive
Athvisions | E+ | Getty Images Global food prices recently rose to an 18-month high, with some food baskets expected to continue climbing, according to market watchers. In October, world food commodity prices were at their highest since April 2023, according to the most recent data compiled by the United Nations’ Food and Agriculture Organization. […]
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Constellation Brands’ stock falls as Trump tariff plan threatens to make Modelo and Corona more expensive
Packages of Modelo Especial beer are displayed for sale in a grocery store on June 14, 2023 in Los Angeles, California. Mario Tama | Getty Images Shares of Constellation Brands fell 4% in morning trading after President-elect Donald Trump announced plans to place a 25% tariff on Mexican imports once he’s inaugurated. Constellation imports all […]
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