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The latest news in the world of business, mergers and acquisitions, partnerships, and companies financial results are a mine of information on successful business strategies in the Asia Pacific region.

Tate & Lyle miss first-quarter profit target

Ingredients giant Tate & Lyle has said that group operating profit from Q1 fell below expectation after it was hit by poor weather and exchange rates.

China

General manager and quality control boss arrested in Husi scandal

One of the five employees arrested in China’s latest food-safety scandal has been named as the general manager of the US-owned Shanghai Husi Foods operation, while another is the head...

China overtakes US to become world’s largest economy in PPP

An economic milestone occurs this year as China overtakes the US to become the world’s largest economy in purchase power parity, or PPP.

China

Scandal-hit CEO brands own company's practices ‘unacceptable'

The chief executive of OSI Group, the American owner of the meat processor under investigation by Chinese authorities for supplying expired meat to international fast-food chains including McDonald’s and KFC,...

Job cuts proposed at botulism scare impacted Fonterra Canpac plant

Fonterra has acknowledged that proposed job losses at its under-capacity Canpac packing plant can be attributed in part to last year's whey protein concentrate (WPC) botulism scare.

China

Five arrested as meat scandal spreads to more international chains

As more American companies are embroiled in China’s latest food safety scandal, five people have been detained following a probe into a company that allegedly supplied stale meat to fast-food...

Philippine food major buys New Zealand snack firm Griffin’s

Universal Robina Corporation (URC) has snapped up New Zealand snack giant Griffin’s Foods for NZ$700m ($606.6m) in a move it says should bolster its presence in the Asian snack sector....

Naturex appoints Olivier Rigaud as CEO

26-year food ingredients veteran Olivier Rigaud is the new CEO of French herbal extracts leader Naturex, moving from tate & Lyle, where he has been the chair of Specialty Food...

Danone slams NZ High Court for 'undue delay' in Fonterra WPC case

Danone has slammed a New Zealand High Court decision to stall its legal battle to recoup money lost as a result of the Fonterra whey protein concentrate (WPC) botulism scare....

Insight

ANZ Bank accused of abandoning farmers after splitting with sugar firm

Early this month, in what looks like a failed attempt to save its reputation, Australia‘s ANZ Bank severed its ties with Phnom Penh Sugar, a company accused of a range...

China

McDonald’s, KFC apologise in China’s latest food safety scare

Allegations concerning the sale of expired meat by American-owned Shanghai Husi Food to the Chinese operations of McDonald’s, KFC and Pizza Hut have forced the fast food chains to suspend...

Abbott making 'progress' repairing Fonterra botulism scare damage

Abbott Laboratories' CEO believes the company has “recovered about as well" as it could have in the year since the Fonterra WPC botulism scare that led it to recall infant formula in China,...

Thailand

Thai food major admits to paying off journalists, but denies bribery

If it wasn’t bribery, then who was it, Thais have been asking after food conglomerate Charoen Pokphand Foods strongly denied the payments it had been making to journalists were anything...

Cadbury’s Australia factory subsidy under fire

Australia’s opposition party has called for Cadbury’s A$16m government funding to upgrade its Claremont plant to be redirected to West Coast development projects.

China

General Mills spends big on Asian product development

In a move to channel more investment into its growing Chinese market, food major General Mills has opened its first major technical centre outside of its Minneapolis headquarters. 

Who drinks more wine – the Chinese or the Japanese?

Isn’t the answer obvious? The Chinese, with their thirst for fine French wines, New World reds and keenness to plant vineyards over the past five years, easily outstrip the economically...

News in brief

Cash for Ash: Coke offers Chinese workers 'environmental hardship allowance'

Coke is offering an 'environmental hardship allowance' to staff in China as it tries to attract and retain talent, the Times of India reports.

Insight

Turning tables: NGOs commend multinational for transparency in Myanmar

In a rare move, NGOs and rights experts commended Coca-Cola for a report it has submitted with the US State Department regarding its responsible business practices in Myanmar.

China

Abbott and Fonterra to join forces in widespread China expansion

A US-based infant formula major and New Zealand’s biggest exporter have joined forces to build up to five dairy farms in China to secure supply for China’s newfound voracious appetite...

Guest article

Does Unilever’s Slim-Fast fail signal the end of weight management as we know it?

Fourteen years after Unilever spent $2.3bn (€1.7bn) to buy Slim-Fast, it has sold up for an undisclosed sum to a private equity player. Analyst and author Julian Mellentin tracks the...

India

Carrefour closes doors on its Indian operation

With a simple press release issued this week, Carrefour brought to a close its Indian experience by announcing the closure of its trade stores in the country.

Asian investors plough $106m into ambitious Chinese dairy Huaxia

A coalition of Asian investors is ploughing US$106m (€77.7m) in to Huaxia Dairy Farm to fund an expansion of the Chinese company's farming and processing operations.

Fonterra and Dairy Crest enter infant formula ingredients partnership

Dairy Crest and Fonterra have entered into a strategic partnership to produce and market infant formula ingredients, demineralized whey powder and galacto-oligosaccharide (GOS).

Australia

Goodman Fielder agrees to takeover bid from Wilmar and First Pacific

Iconic Australian food maker Goodman Fielder has finally agreed to an A$1.34bn (US$1.26bn) offer by Wilmar International and First Pacific Company to acquire the company after the last two bids...

Fonterra, Dairy Crest quiet on demineralized whey partnership reports

British firm Dairy Crest has confirmed it will be “partnering with someone” to supply demineralized whey powder for infant formula, but declined to confirm reports it is close to sealing...

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