As Hurricane Isaac continues to pound the Gulf Coast with rain and wind, meteorologists say the storm could provide some much-needed hydration in parts of the country hit hard by drought.
Isaac will bring "soaking downpours" to parts of Arkansas, Missouri and other Central states into the weekend, according to AccuWeather.
Starbucks is getting into the bread business.
The Seattle-based coffee chain announced plans Monday to buy San Francisco-based Bay Bread and its La Boulange bakery brand for $100 million.
"This is an investment in our core business," said Howard Schultz, Starbucks chief executive, in a conference call with financial analysts. "After more than 40 years, we will be able to say that we are bakers too."
Schultz said one-third of Starbucks transactions include the purchase of a food item. Food now accounts for $1.5 billion in sales at U.S. company-operated Starbucks stores and has grown sharply in recent years, he added.
Starbucks will create a "new methodology" to produce fresh baked items, Schultz said without elaborating.
Read - Starbucks: 'We are bakers too'
Ronald McDonald, the orange and white face of the popular fast-food chain that bears his name, is under attack by nutrition advocates who want him to be retired.
Their beef, so to speak, is that McDonald's uses clowns and toys to sell unhealthy food to impressionable children. The company argues that its marketing practices are responsible, and that its food is "high quality."
The push to retire Ronald is being led by a group called Corporate Accountability International, which plans to introduce a resolution calling for the clown's ouster at the company's annual shareholder meeting Thursday.
The United Nations said Wednesday that about 1.3 billion tons of food is lost or wasted every year, which amounts to roughly one third of all the food produced for human consumption.
The UN's Food and Agriculture Organization commissioned a report on food loss and waste as rising prices and diminished production worldwide have contributed to an increase in food insecurity.
"The issue of food losses is of high importance in the efforts to combat hunger, raise income and improve food security in the world's poorest countries," the report states. "Food losses have an impact on food security for poor people, on food quality and safety, on economic development and on the environment."
Read the rest of "World wastes 1 billion tons of food a year" on CNN Money.
After holding steady for two years, food prices in the United States are rising once again, due to growing demand and tight supplies of wheat, corn and other key commodities.
That means American consumers are being hit with higher grocery bills at a time when gas prices are already starting to dent household budgets. On the bright side, economists say the recent spike in fuel prices isn't yet translating into higher costs at the supermarket.
Still, according to the U.S. government's Consumer Price Index, food prices in January rose 1.8% from the prior year, marking the fastest pace since 2009.
Read the rest of "Why you're paying more for groceries" on CNN Money.