For relaxing times, Suntory buys Jim Beam for $16 billion
January 14th, 2014
10:00 AM ET
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Suntory Holdings, a massive Japanese beverage company, is acquiring American spirits maker Beam for $16 billion, creating one of the largest premium spirits companies in the world.

The all-cash deal values Beam at $83.50 per share, a 25% premium over Friday's closing price.

Shares in Beam shot up in premarket trading Monday after the deal was announced.

Beam is known for its brand-name products, including Jim Beam bourbon, Maker's Mark whiskey and Courvoisier cognac.

The transaction is expected to close in the second quarter of the year, provided it receives all necessary shareholder and regulatory approvals.

Read - Japan's Suntory pays $16 billion for Beam

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Filed under: Business and Farming News • News • Sip • Spirits


What does the fox say? 'I don't belong in your Wal-Mart donkey meat'
January 2nd, 2014
11:30 AM ET
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Wal-Mart is recalling donkey meat in China after it was found to be contaminated with other animal products.

Wal-Mart said it was recalling the meat in Jinan, the provincial capital of Shandong. The company apologized to customers and said it would provide refunds.

State media said the product - Five Spice Donkey Meat - had been contaminated with fox meat.
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Filed under: Food Safety • Health News • Recalls • Taboos


Chocolate costs may crescendo
October 15th, 2013
12:05 AM ET
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Chocolate lovers beware! The price of your favorite treat is on the rise.

Growing demand in emerging markets and bad weather in major cocoa producing countries is pushing up the cost of key ingredients, leaving manufacturers little choice but to pass on some of that pain to consumers.

The price of cocoa butter, for example, stands at a four-year high, having risen by 70% over the past 12 months, according to Mintec commodity consultant Liliana Gonzalez.
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August 29th, 2013
10:30 PM ET
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Fast food workers in 60 cities across the U.S. walked off the job Thursday as they protest for higher wages.

Workers from fast food giants McDonald's, Burger King, Wendy's and Yum Brands-owned KFC are calling on their employers to pay them a minimum of $15 an hour and allow them to form unions without retaliation.

Currently, the median pay for the fast food workers across the country is just over $9 an hour, or about $18,500 a year. That's roughly $4,500 lower than Census Bureau's poverty income threshold level of $23,000 for a family of four.
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Yes, there exists such a thing as too much wine
July 16th, 2013
11:15 AM ET
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Look out American oenophiles. Roughly one million bottles of wine are about to be poured down the drain.

The Australian winemaker that crafts the popular Penfolds brand is dumping as much as $35 million AUS ($32 million) in wine in the United States.

Treasury Wine Estates says it's working to get rid of "excess, aged and deteriorating inventory" in the U.S. since it was unable to sell the wine as quickly as planned.
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Cash-challenged France sells off government's wine stash
May 1st, 2013
10:45 AM ET
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The cash-strapped French government is getting ready to auction some of its fine wines in order to raise money and invest in more modest vintages.

The move comes as governments across Europe look to tighten their belts and tone down displays of lavish spending. Austerity budgets have squeezed living standards for many and left millions out of work.
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Filed under: Wine


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