Food and drink
Goldman Sachs cuts Truly maker Boston Beer to sell as hard seltzer’s popularity fades
The waning popularity of hard seltzer brand Truly is about to cut Boston Beer’s momentum, according to Goldman Sachs. Analyst Bonnie Herzog downgraded shares of the Sam Adams brewer to sell from neutral, saying in a Tuesday note that lower consumer interest in hard seltzer, and a lackluster product pipeline, will dampen its sales. “We […]
Read More
Juul asks court for temporary block on FDA’s ban of its e-cigarettes
Juul brand vape cartridges are pictured for sale at a shop in Atlanta, Georgia. Elijah Nouvelage | Reuters Juul asked a federal appeals court on Friday to block the Food and Drug Administration’s ban on its e-cigarettes temporarily. The request came less than a day after the health agency told the company that it had […]
Read More
McDonald’s simplifies franchising policies to attract more diverse candidates
The logo for McDonald’s is seen on a restaurant in Arlington, Virginia, January 27, 2022. Joshua Roberts | Reuters McDonald’s is making changes to how it awards franchises in the hopes of attracting more diverse candidates, the latest shakeup in how the burger chain’s management oversees its franchisees. Starting in 2023, the fast-food giant will […]
Read More
FDA bans Juul e-cigarettes as government pursues broader crackdown on nicotine products
The Food and Drug Administration announced Thursday that it will ban the sale of Juul e-cigarettes in the U.S. The decision is part of the agency’s broader review of the vaping industry following years of pressure from politicians and public health groups to regulate the segment as strictly as other tobacco products after vaping became […]
Read More
Mars says CEO Grant Reid is retiring and will be replaced by head of pet care unit
Grant Reid, president and chief executive officer of Mars Inc., speaks during a Bloomberg Businessweek Debrief event in New York, U.S., on Thursday, Jan. 10, 2019. Alex Flynn | Bloomberg | Getty Images Mars CEO Grant Reid is retiring after more than eight years in the role and will be replaced by the head of […]
Read More
Kellogg to split into three independent companies
Kellogg announced Tuesday that it plans to separate into three independent public companies. Shares of the company rose 8% in premarket trading on the news. The company will spin off its North American cereal business and plant-based division, which accounted for about 20% of its revenue last year. The remaining business includes its snacks, noodles, […]
Read More
Singapore imports more than 90% of its food. Here’s how it’s dealing with rising food inflation
A rooftop farm in Singapore on May 27, 2020. The small island nation lacks natural resources and imports more than 90% of its food from more than 170 countries and regions. Lauryn Ishak| Bloomberg | Getty Images Singapore is known for its variety of street food and local cuisines, but many may not know it […]
Read More
Dubai’s famous boozy brunches get a reboot as Saturday becomes the new Friday
The UAE is tackling this issue of work-life balance and the government recently rolled out a 4.5-day working week for Emirati government employees. Laszlo Szirtesi | Getty Images News | Getty Images They say it’s risky playing with a winning formula — especially when that formula results in massive revenue for Covid-battered restaurants and is […]
Read More
Chipotle testing cauliflower rice in select locations after item drew in customers last year
Employees prepare orders for customers at a Chipotle Mexican Grill restaurant in Hollywood, California. Patrick T. Fallon | Bloomberg | Getty Images Chipotle is giving cauliflower rice another try after the item helped bring in new customers when it was offered for a limited time last year. The Newport Beach, California-based chain said Thursday it […]
Read More
These could be the next hot food and drink trends
Pasta is coming back in different shapes and flavors, drinking vinegar is cool, and comfort food favorites like pancakes are being made with new ingredients. That’s according to the hundreds of items on display at the Summer Fancy Food Show, a trade show that has gained a reputation for being a place to spot the […]
Read More