Food Financial News

Zomato will be in focus on Friday as the food delivery company's board of directors will meet on October 22 to consider the plans to raise funds by issuance of equity shares by way of qualified institutions placement (QIP). The company will also announce its September quarter earnings on this day which will be followed by an earnings conference call at 5 pm India time.

revenue growth in the past eight years. Against an expectation of around 5% revenue growth, Nestle India posted revenue growth of 1.3% on back of some of its key brands witnessing pressure due to softer consumer demand. The profitability also suffered on account of inflationary prices of coffee and cocoa. The operating profit margin corrected by 100 bps to 23.4%. Raw material cost stood at 43.6% of revenues-same as the year ago elevated level of 43.7%. It has increased its investment in advertising and marketing during the quarter. Other expenses (as a proportion of revenues) increased to 23.6% against corresponding year-ago level of 21.6%. Despite this, muted consumer demand ensured that only five of the company's top 12 brands grew at double-digits.

NorthEnd Private Wealth CIO Alex McGrath discusses his expectations for the upcoming Federal Reserve meeting and the 3Q earnings season.

White House when he served the brand to the football team of Clemson University during a government shutdown. On the other hand, the campaigns of Republican Party spent over $200,000 collectively at Chick-fil-A, reported Independent. This amount is 20 times more than the expenses of their Democratic counterparts while the campaign of Biden-Harris preferred a system of fast-casual dining where they spent over $7,000 at Panera Bread. Also Read:Who is the senator whom Donald Trump calls fantastically attractive

Haldiram Snacks Food Pvt Ltd, the 87-year-old legacy brand which is India’s largest snack and convenience foods company. Earlier, it was reported that Haldiram’s promoters were planning to sell a controlling 51 per cent stake, but now a new report says they are looking to offload 10-15 per cent minority stake. Many global investors have been vying to buy a stake in the cash-rich and profitable company which has a long legacy of manufacturing the iconic Indian savoury snack, Bikaneri bhujia.

Shiju Pappen has transformed his life into a remarkable entrepreneurial success story. Today, he is the founder of The Chatpata Affairs, a popular cafe chain that boasts 50 outlets across India and generates an impressive Rs 8 crore in annual revenue. Pappen’s journey began in a small town in Rajasthan, where he faced significant challenges after losing both his parents at a young age. This hardship motivated him to seek a better life, leading him to Delhi in 1997. He started his career at Pizza Hut, taking on various roles, from cleaning tables to serving customers. Reflecting on those early days during an interview with Startuppedia, Pappen shared, “I was earning only Rs 5,000-6,000 per month for almost a year straight. It was tough to manage rent, electricity, and food. However, I had no option but to manage with whatever I was earning.”

imported inflation reached a 13-month high in September 2024, growing by 2 per cent, according to a report by the State Bank of India (SBI). The report highlighted that imported inflation is increasingly contributing to the country's overall inflation, as rising prices of gold, oils and fats, and chemical products drive the increase. Imported inflation is the increase in the price of goods and services in a country due to higher costs of imported products.

Subscribe to enjoy similar stories. Retail inflation estimates for September 2024 released earlier this week based on the Consumer Price Index (CPI) have confirmed fears of an upswing driven by food prices. Rural retail inflation is at 5.9% and the urban figure at 5%, with overall inflation at 5.5% on a year-on-year basis.

Subscribe to enjoy similar stories. HARROWING FOOTAGE of limbs attached to intravenous drips inside burning hospital tents in Deir al-Balah in Gaza on October 14th was a reminder that the war there—one of several fronts Israel has been fighting on since Hamas massacred 1,200 people a year ago—is far from over. Although the world’s focus is on Lebanon and a possible Israeli retaliation against Iran, the horror in Gaza continues.

Bikaji Foods International shares will be in focus on Thursday after the company announced that its wholly-owned subsidiary, Bikaji Foods Retail, will make a strategic investment of Rs 131.01 crore for a 53.02% stake in Hazelnut Factory Food Products. Hazelnut Factory is a café-cum-artisanal sweets brand based in Lucknow. The investment will be made in tranches, with the acquisition expected to be completed over the next two years, according to the company's stock exchange filing.

Subscribe to enjoy similar stories. TOKYO—Japan’s exports dropped for the first time in 10 months in September, with weak shipments to its major trading partners casting some doubt over the nation’s economic recovery path. Exports fell 1.7% in September from a year earlier, dropping for the first time since November 2023, Ministry of Finance data showed Thursday.

Subscribe to enjoy similar stories. The promoters of Haldiram Snacks Food Pvt Ltd. are now looking to offload 10-15% stake against the initial plan to sell a majority holding in India’s largest snack-maker that has drawn interest from top global investors, said three people with the knowledge of the development.

News that inflation dropped to a more than three-year low in September has not changed the financial picture for many Canadians who continue to struggle with a permanently higher cost of living.

Uttarakhand government Wednesday issued detailed guidelines for preventing instances of people spitting in food, announcing a fine of upto Rs 1 lakh, mandating police verification of hotel and 'dhaba' staff and installation of CCTV cameras in their kitchens. The state police and the health department issued separate guidelines days after Chief Minister Pushkar Singh Dhami termed such incidents «thook (spit) jihad», and said stern action will be taken against the offenders. Two men were recently arrested in Mussoorrie for allegedly spitting into fruit juice glasses before serving them to tourists. A video from Dehradun had also gone viral in which a cook could be seen allegedly spitting while making dough for rotis. Health Minister Dhan Singh Rawat said safety and purity of food is top priority of his government during the upcoming festival season. Any kind of impurity or anti-social activities will not be tolerated during the festivals, Rawat said.

A nationwide recall of meat and poultry products potentially contaminated with listeria bacteria has expanded to nearly 12 million pounds

Mikhail Pichugin, 46, was discovered severely malnourished, having lost 50 kilograms (110 pounds) during his time at sea. Authorities confirmed that the bodies of his 49-year-old brother, Sergei, and 15-year-old nephew, Ilya, were found on board the small rubber boat, marking a tragic end to the family’s voyage. The three, according to a Moscow Times report, had embarked on a whale-watching trip from the Khabarovsk region in early August. Their plan was to explore the Shantar Islands, located off the coast of the Sea of Okhotsk, with the intention of returning by August 9. When they failed to arrive back as scheduled, a search and rescue operation was launched, but the group’s boat was nowhere to be found. Pichugin’s ordeal ended late Monday when a fishing vessel spotted him near the Kamchatka Peninsula, approximately 23 kilometers (12 miles) offshore. This location was more than 1,000 kilometers (621 miles) east of the Shantar Islands, where the trio was last seen. Pichugin was immediately taken to a hospital in the Magadan region for treatment after his rescue.

Subscribe to enjoy similar stories. Edible oil prices are on the boil again. The ‘oils and fats’ group in India’s consumer price index rose 2.5% year-on-year in September, marking the first increase in nearly two years and adding inflationary pressures at a time when the country is already reeling under the strain of high food prices.

The Consumer Prices Index (CPI) fell to 1.7% in September, down from 2.2% in August. Inflation had reached the central bank's 2% target at the beginning of the summer, only for it to edge slightly above in the following months. According to the ONS data today (16 October), the largest detraction came from transport, especially from air fares and motor fuels, offsetting the larger contribution from food and non-alcoholic beverages. Yet core CPI remained elevated at 3.2%, although down from 3.6% in August, with CPI goods falling from -0.9% to -1.4% and services inflation from 5.6% to 4....

The largest retail trade group in the United States says it expects consumers to spend more during the upcoming holiday season but the growth in sales to be slower than last year due to concerns over persistent inflation and prices

The United Nations' food agency says months of drought in southern Africa triggered by the El Niño weather phenomenon have had a devastating impact on more than 27 million people and caused the region’s worst hunger crisis in decades

U.S. Agriculture Department officials have launched an internal investigation into how the agency handled reports of serious problems tied to a deadly listeria outbreak at a Boar's Head deli meat plant in Virginia