Food and drink
Abbott Nutrition restarts baby formula production in reopened Michigan plant
Shelves normally meant for baby formula sit nearly empty at a store in downtown Washington, DC, on May 22, 2022. Samuel Corum | AFP | Getty Images Abbott Nutrition on Saturday resumed baby formula production at its Sturgis, Michigan, plant, a move toward addressing a nationwide shortage. The company has been given the green light […]
Read More
From EV batteries to coffee: Ideas about recycling and nature are changing how firms do business
A hot cup of coffee is the perfect start to the day for millions of people around the world. But when taking that first sip, it’s easy to forget how much work goes into bringing it to the table. From the farmers cultivating and harvesting coffee plants, to milling and roasting, many crucial and labor-intensive […]
Read More
‘A lot of Costco love’ — How the warehouse retailer became a staple of Asian America
Durian at a Costco Wholesale location in Woodland Hills, California. April 24, 2022. Wendy Leung Wendy Leung rarely saw durian in grocery stores growing up in Los Angeles, but the 45-year-old nonprofit worker found the fruit at her local Costco Wholesale in San Fernando Valley this April. Durian is used in Southeast Asian cuisines and […]
Read More
Rapid grocery delivery boom comes to a grinding halt as Getir, Gorillas slash jobs
Fears of an impending recession are forcing rapid grocery delivery companies to slam the brakes on growth. This week, two of the largest instant grocery apps, Getir and Gorillas, announced decisions to lay off hundreds of employees. Another firm, Zapp said it is proposing redundancies in its U.K. team. Getir reportedly told staff Wednesday that […]
Read More
NFL renews its sponsorship deal with Pepsi, but without the Super Bowl halftime show
A detail view of a Pepsi ad at FedEx Field during an NFL football game between the Washington Football Team and the New York Giants, Thursday, Sept. 16, 2021, in Landover, Md. Aaron M. Sprecher via AP Pepsi is keeping its sponsorship rights with the NFL but will give up a core asset – the […]
Read More
DoorDash can jump 32% given its market leadership in food delivery, Bernstein says
DoorDash is a top pick among U.S. emerging internet companies given its leadership in the on-demand delivery space, according to Bernstein. Analyst Nikhil Devnani in a Monday note initiated coverage of DoorDash with an outperform rating and a price target of $90 per share. That represents more than 32% upside from where shares closed on […]
Read More
Another baby formula shipment from Europe to arrive in the U.S. on Wednesday
Empty shelves show a shortage of baby formula at a Target store in San Antonio, Texas, May 10, 2022. Kaylee Greenlee Beal | Reuters FedEx Express has secured a government contract to bring another shipment of infant formula to the U.S. on Wednesday, NBC News reported. The Express plane will fly Nestlé baby formula from Ramstein […]
Read More
First baby formula shipment arrives from Europe on U.S. military plane
A military cargo plane carrying the first shipment of infant formula from Europe to address a critical shortage in the United States landed in Indianapolis on Sunday. A Feb. 17 recall by top baby formula maker Abbott Laboratories and the closing of its manufacturing plant in Sturgis, Michigan have created one of the biggest infant […]
Read More
‘We’re sorry’ for U.S. baby formula shortage, Abbott CEO Ford says in Washington Post op-ed
The Abbott manufacturing facility in Sturgis, Michigan, on May 13, 2022. Jeff Kowalsky | AFP | Getty Images Abbott Laboratories CEO Robert Ford apologized Saturday in a new op-ed for his company’s role in a nationwide shortage of baby formula, which this week moved Congress and the Biden administration to take emergency actions to alleviate […]
Read More
Scammers are taking advantage of a baby formula shortage, Federal Trade Commission warns
Sod Tatong | Moment | Getty Images Scammers are exploiting a nationwide baby formula shortage, tricking consumers into paying hefty prices through fraudulent online stores, the Federal Trade Commission said Wednesday. The con artists lure “desperate parents and caregivers” via fake websites or social media profiles with images and logos of recognizable formula brands, according […]
Read More