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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.

'A MIXED YEAR AND A TOUGHER ONE THAN WE ANTICIPATED AT THE START': CFO DEIRDRE MAHLAN

Diageo’s top line takes a hammering: 2014 results show Chinese dragon bites

Diageo said today that foreign exchange movements ‘severely impacted’ its 2014 top line while Chinese anti-extravagance measures also hit hard – our slideshow dissects the Johnnie Walker distiller's performance.

Australia

Organic chief: We will discredit firms who claim false certification

The more popular organic products become, the greater the risk that fraudulent operators will ride on the coat-tails of genuine certification, the head of Australia’s organic farmers’ industry body warned...

News in brief

Former Bright Foods chief under investigation for corruption

A former leading executive at one of China’s biggest and most prominent food corporations is being investigated by Shanghai officials on allegations of bribery and embezzling public funds, according to...

Analysts fear Chinese frugality and US share loss: Looking ahead to Diageo’s 2014 results

With Diageo set to report its full-year 2014 results tomorrow, let’s look at what we might expect – with analysts predicting a share loss in US spirits and continued concerns...

Insight

How military-owned companies have been silencing dissent in Burma

In what many say is an attempt to silence dissent against an allegedly military-orchestrated land grab, a Burmese court has been prosecuting hundreds of farmers who have been calling for...

Pecans: America's forgotten nut?

Pecans are not top of mind for US manufacturers and ingredient players but the antioxidant-rich nuts can move way beyond the famous pie, says the head of Georgia’s Center for...

Fonterra slashes FGMP forecast citing 'continuing volatilty'

Fonterra has reduced its farmgate milk price (FGMP) forecast for the 2014/15 to NZ$6.00 (US$5.11, €3.80) per kg of milk solids (kgMs), citing "continuing volatility."

News in brief

Brownes Dairy fined AU$100k for Australian waterway milk pollution

Western Australia's Brownes Dairy has been fined AU$100,000 (US$94,000, €70,000) over a major spill of unprocessed milk into a waterway.

News in brief

Struggling Chinese baijiu sales weigh on Diageo?

Diageo reportedly plans to write down the value of its stake in China baijiu brand Shui Jing Fang, as the government's anti-extravagance drive hits sales.

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...

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