GFM Network News


Tyson reveals subpoena linked to alleged price fixing

Reuters — Tyson Foods disclosed on Monday it has received a subpoena from the U.S. Securities and Exchange Commission following allegations it conspired with rivals for years to fix chicken prices. The chicken sector, which is dominated by a handful of large meat companies, has come under increased scrutiny over the past year as customers […] Read more

McDonald’s sales beat as all-day breakfast a hit

Reuters — McDonald’s Corp. reported better-than-expected quarterly same-restaurant sales as the launch of all-day breakfasts proved to be a hit with diners in the U.S. and demand continued to recover in China. The world’s biggest restaurant chain’s shares jumped 3.4 per cent in premarket trading on Monday. McDonald’s introduced all-day breakfasts in October in the […] Read more





Kraft to combine with Heinz in deal led by 3G, Buffett

Reuters — Ketchup maker H.J. Heinz, owned by 3G Capital and Warren Buffett’s Berkshire Hathaway, is acquiring a majority stake in Kraft Foods Group to create the third-largest North American food company, executives said on Wednesday. Shares of Kraft — which operates 35 plants in Canada, the U.S. and Puerto Rico — were up more […] Read more

Cutrale-Safra wins takeover battle for fruit producer Chiquita

Sao Paulo | Reuters — Chiquita Brands International agreed on Monday to a US$682 million takeover by Brazilian juice maker Grupo Cutrale and investment firm Safra Group, with the U.S.-based banana producer going private early next year at the latest. The acquisition is a victory for Brazilian-Lebanese financier Joseph Safra and orange juice baron Jose […] Read more