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Food companies hope to capitalize on the slowing economy by directing consumers to cheaper, high-margin products. For instance, Kellogg Co. is beginning a new advertising campaign for cereals such as Corn Flakes, while Campbell Soup Co. is about to launch a campaign emphasizing its condensed soups as a bargain buy. It is a shift for food makers, as for several years they tried to increase their profit margins by promoting higher-priced "premium" brands, reported The Wall Street Journal. Full Story (WSJ Subscription Required)
 Around 93% of Americans believe a company should have a presence in social media, while 85% believe a company should not only be present, but also interact with its consumers via social media, according to Cone's 2008 Cone Business in Social Media Study. In fact, 56% of American consumers feel both a stronger connection with and better served by companies when they can interact with them in a social media environment. Full Story InBev shareholders voted to approve the acquisition of all the shares of Anheuser-Busch Companies, Inc. Shareholders also approved the name change of InBev to Anheuser-Busch InBev. Full Story The Cereal Bowl is expanding nationally, with the first franchised location set to open Oct. 4 in Newark, DE. A week later, the original Cereal Bowl, near the University of Miami, will reopen after a month of renovations. And then in November, a new location in Coral Gables will open. Stores are expected to open in Washington, DC.; New Brunswick, NJ.; Birmingham, AL.; and Orlando by February. All told, five teams of franchisees are preparing to open 25 Cereal Bowl locations. Today's tough economy could complicate the entrepreneurs' plans. Price increases increases in grain and dairy products forced the company to introduce cost-saving measures such as shrinking the size of the large cereal bowl from 32 to 26-ozs. and charging extra for fresh fruit such as blueberries and strawberries, according to Miami Herald. Full Story (Free Registration Required) Children are becoming more aware of environmental issues at an earlier age, according to Ethical and Wellness Food and Drinks for Kids, a report from Research and Markets. Packaging for children's foods should include ethical claims, especially as the pocket money received by U.S. children, aged 5 to 9, rose from $4.20 per week in 2001 to $8.20 in 2006. Full Story
Some 25% of UK consumers look for nutritional information, though 80% are aware of guidance daily amounts and traffic light labeling, according to a new survey from the European Food Information Council. While 90% of those surveyed knew that they should eat more fruit and vegetables, only 5% answered that they should eat less starchy foods such as bread, rice and pasta, while 35% think children need more calories than an adult man. Full Story Cadbury recalled all of its chocolate products manufactured at its Beijing plant as a precautionary step 'after monitoring' melamine-contamination events in China. Eleven chocolate products exported to Hong Kong, Taiwan and Australia were all withdrawn from the market, reported The Associated Press. Full Story
Increased intake of vitamin D from diet and sunlight may reduce the risk for breast cancer by over 20%, according to research published online in the American Journal of Epidemiology, reported Food Production Daily. Full Story, Study Abstract
Philip Morris's request for a temporary restraining order FDA is amending its labeling regulation authorizing a health claim on the relationship between calcium and a reduced risk of osteoporosis. The amendment includes vitamin D so that, in addition to the claim for calcium and osteoporosis, an additional claim can be made for calcium and vitamin D and osteoporosis; eliminate the requirement that the claim list sex, race, and age as specific risk factors for the development of osteoporosis; eliminate the requirement that the claim does not state or imply that the risk of osteoporosis is equally applicable to the general U.S. Full Notice
Dole Food Company, Inc. signed a definitive purchase and sale agreement to sell its JP Fresh subsidiary in England and its ripening and distribution business in France to Compagnie Financiere de Participations, a company in which Dole holds a non-controlling 40% stake. Closing is expected to occur in the fourth quarter of 2008, reported Market Watch. Full Story Hurricanes Ike and Gustav may have ruined more than 5% of the U.S. rice crop, according to U.S. analysts and industry officials. The two storms impacted almost all major U.S. rice-producing areas except California. However, that is unlikely to lead to higher prices at the supermarket, industry members stated, reported The Wall Street Journal. Full Story (WSJ Subscription Required)  |
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