| Industry
News American Sugar Refining signed an agreement
to acquire Tate & Lyle PLC's European cane sugar operations
for $318 million. Full
Story 
New!
The Food Institute reports on the shrinking retail market in the July 1
edition of the Lempert Report, hosted by Phil Lempert. The Wal-Mart paradox is
also explored. The Lempert Report comes out every Thursday. Click
here to view. McDonald's is retooling
its menu. The Mac Snack Wrap will be off the menu by August, replaced by Angus
Snack Wraps. The Big N' Tasty will end on Sept. 1 and the fruit and walnut salad
will be phased out later this year, according to an internal memo. The chain is
also preparing for a national rollout in January of an oatmeal breakfast, reported
The Chicago Tribune. Full
Story (Free Registration Required) Rite
Aid is introducing the private brand Simplify at all U.S. stores. Products
in stores now include strawberry and berry flavored drinks and bottled water,
with additional household items such as soda and snack foods scheduled to be added
later this year. Full
Story The National Restaurant Association's
Restaurant Performance Index (RPI) stood at 99.7 in May, down 0.7% from April's
level of 100.4. The RPI's May drop came after strong index growth earlier this
year and amid sharply  increasing
wholesale food prices. Full
Story The Chicago City Council unanimously voted
to let Wal-Mart build a second store in Chicago, reported The Chicago
Tribune. Full
Story (Free Registration Required), Wal-Mart
Press Release Approximately
76% of CKE Restaurants, Inc. stockholders approved the proposal to adopt the merger
agreement providing for its acquisition by entities
created by certain affiliates of Apollo Management VII, L.P. Full
Story International News Wendy's/Arby's
Group Inc. will re-enter the Japanese market. The proposed
restaurants are to be co-branded Wendy's/Arby's
locations, reported Nation's Restaurant News. Full
Story (Free Registration Required)  Trader
Vic's reached an agreement with new franchise partners JSM Corporation Pvt.
Ltd. (JSM) and Gourmet Gulf Company to expand into India. JSM obtained exclusive
development rights to three Trader Vic's concepts, Trader Vic's, Mai Tai Lounge
& Island Bar & Grill and will open outlets throughout India and Sri Lanka. Full
Story
Washington
News The
Natural Resources Defense Council filed a lawsuit against FDA
for its alleged failure to act on a petition to ban the use of bisphenol A in
food packaging, food containers and other materials likely to come into contact
with food. Full
Story 
A
federal judge granted class-action status to a lawsuit alleging Domino's Pizza
under-reimbursed its delivery drivers for automobile expenses, causing them
to receive less than minimum wage. Judge Donovan Frank's order says the class
could include all Domino's delivery drivers who worked in any state except New
York and California from Mar. 4, 2006, to the present, reported The Associated
Press. Full
Story Market News Corn
futures markets increased after USDA estimates pegged
this year's crop at 300 million bushels below expectations. USDA blamed lower-than-expected
acreage on damage caused by below-average temperatures and wet weather in the
Midwest and portions of the plains in mid-May, reported The Wall Street Journal.
Full
Story (WSJ Subscription Required) 
The
California lettuce crop is improving in quality following a wet spring, grower-shippers
claim. Iceberg markets remain strong but romaine markets are down considerably
from last year, reported The Packer Online. Full
Story (Subscription Required) | 
