US: Supervalu has reported a third-quarter net loss of $202m. The supermarket said sales fell from £4.5bn to £4.2bn in the quarter to 4 December 2010 following a decline in like-for-like store sales and previously announced market exits.
Second-quarter earnings for agri-business giant Cargill have rocketed on the back of rising grain handling volumes linked to the large North American harvest and investment in crop nutrient supplier The Mosaic Company. Net earnings were $1.49bn (£0.94bn) for the second quarter to 30 November compared with £310m ($489m) year-on-year.
"Cargill generated strong results across the breadth of our businesses," said chairman and CEO Greg Page. "The diversity and balance in the mix provide the company with a great deal of resilience."
GERMANY: Metro Group has reported a 1.6% increase in fourth-quarter sales despite weather conditions eroding performance in its domestic market. Sales hit 19.7bn (£16.5bn) up from 19.4bn in Q4 2009, with German sales declining 2.6% to 7.9bn. Meanwhile, sales at its Asia/Africa business rose 29.1%. The company said it would ramp up expansion in Asia and that China would be a particular investment focus for its Metro Cash & Carry and Media-Saturn consumer electronics business.
SWITZERLAND: Nestlé has won a battle to protect its coffee capsule Nespresso brand after a Swiss court ordered discounter Denner to stop selling a copy of its pods. Denner can no longer use the slogan 'Dennerwhat else?', which echoes George Clooney's catchphrase in Nestlé's TV ad ('Nespressowhat else?'), or claim the cheaper capsules are "compatible" with Nespresso machines.
NIGERIA: Heineken has acquired a controlling interest in five breweries in Nigeria in an attempt to ease production capacity constraints there. The deal provides Heineken with an additional technical capacity of 3.7 million hectolitres. The group said it would explore the idea of consolidating the newly acquired breweries into its existing Nigerian business this year.
Second-quarter earnings for agri-business giant Cargill have rocketed on the back of rising grain handling volumes linked to the large North American harvest and investment in crop nutrient supplier The Mosaic Company. Net earnings were $1.49bn (£0.94bn) for the second quarter to 30 November compared with £310m ($489m) year-on-year.
"Cargill generated strong results across the breadth of our businesses," said chairman and CEO Greg Page. "The diversity and balance in the mix provide the company with a great deal of resilience."
GERMANY: Metro Group has reported a 1.6% increase in fourth-quarter sales despite weather conditions eroding performance in its domestic market. Sales hit 19.7bn (£16.5bn) up from 19.4bn in Q4 2009, with German sales declining 2.6% to 7.9bn. Meanwhile, sales at its Asia/Africa business rose 29.1%. The company said it would ramp up expansion in Asia and that China would be a particular investment focus for its Metro Cash & Carry and Media-Saturn consumer electronics business.
SWITZERLAND: Nestlé has won a battle to protect its coffee capsule Nespresso brand after a Swiss court ordered discounter Denner to stop selling a copy of its pods. Denner can no longer use the slogan 'Dennerwhat else?', which echoes George Clooney's catchphrase in Nestlé's TV ad ('Nespressowhat else?'), or claim the cheaper capsules are "compatible" with Nespresso machines.
NIGERIA: Heineken has acquired a controlling interest in five breweries in Nigeria in an attempt to ease production capacity constraints there. The deal provides Heineken with an additional technical capacity of 3.7 million hectolitres. The group said it would explore the idea of consolidating the newly acquired breweries into its existing Nigerian business this year.
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