All articles tagged with #food companies
Originally Published 1 month ago — by BBC
San Francisco has sued major food companies like Kraft Heinz, Mondelez, and Coca-Cola, accusing them of knowingly marketing unhealthy, ultra-processed foods linked to serious health issues, and seeking penalties and changes in marketing practices.
Originally Published 1 year ago — by The Guardian
President Joe Biden criticized food companies for engaging in "shrinkflation," where products are made smaller while prices remain the same, in a video released during the Super Bowl. He accused big consumer brands of attempting to deceive consumers and highlighted examples such as Gatorade, Breyers ice-cream, Tostitos, Doritos, and Oreo cookies. The criticism comes amid concerns about inflation, with some economists attributing it to factors like monetary policy stimulus, rising global energy prices due to the Ukraine conflict, and increased government spending.
Originally Published 2 years ago — by ABC News
Nestle, General Mills, and Abbott Laboratories are developing high-protein companion products such as snacks and supplement shakes for customers using weight loss medications like Ozempic, Mounjaro, and Wegovy. These companies aim to cater to the changing eating patterns of consumers on these drugs, with a focus on muscle mass preservation. While protein shakes offer convenience, experts advise incorporating lean meats and vegetables for a well-rounded diet. It is important to note that weight-loss medications should be used in conjunction with a healthy diet and exercise for optimal results.
Originally Published 2 years ago — by Yahoo Finance
The rising popularity of Novo Nordisk's weight-loss drugs, Ozempic and Wegovy, has sparked fears among investors about the potential impact on food companies. However, experts believe that the initial panic is unwarranted, as the long-term effects on consumer behavior and food consumption are still uncertain. While some categories like medical technology companies and snack businesses may see slower revenue growth due to the increased use of GLP-1 drugs, the impact is expected to happen gradually over many years. Food companies have weathered previous dieting trends and have been adapting by offering healthier options. While decreased appetite and cravings may change snacking habits and impact fast food chains, the overall impact on the industry is projected to be financially immaterial. Retailers with pharmacies, such as Walmart and Target, may benefit from increased foot traffic as more consumers seek prescriptions for weight-loss drugs. The food industry has proven resilient, and the companies' share prices already account for various risk factors.
Originally Published 2 years ago — by Bloomberg Law
Kellogg, Kraft, and Nestle likely overpaid for eggs due to a conspiracy by the nation's largest egg producers and two trade groups to restrict supply, according to an Illinois federal jury. The jury found that Cal-Maine Foods, Rose Acre Farms, and the trade groups will have to pay damages to the food companies. The amount of damages will be determined in a future trial. This verdict could encourage other plaintiffs seeking to hold food producers accountable for anticompetitive behavior.