food and drink

Savings Experiment: Turkey Leftovers

You can't pick your family, but you can pick your Thanksgiving turkey. And if you keep Thanksgiving leftovers, you can pick at it again and again.

Bagging the Best Deals at the Grocery Store

When it comes to saving money on groceries, using coupons can cut your bill in half. But in this fast-paced digital age, who has time to find the deals? We've consulted the coupon experts to help you save money on food without giving up your social life.

Starbucks to Make Announcement on Single-Serve Coffee

Starbucks (SBUX) said it will soon make a major announcement about a new product for the single-serve market. The company is preparing for the expiration of its agreement with Kraft Foods (KFT), Reuters reported. Under the terms of the agreement, which expires March 1, Starbucks provides coffee for Kraft%u2019s Tassimo one-cup home brewer.

Senators Propose a New Law to Address Drug Shortages

Health care providers have been reporting unprecedented shortages of prescription drugs, including vital medications such as chemotherapies and antibiotics. Under current law, the FDA has no power to act, so two senators have introduced a bill to help government get a handle on the problem.

Chipotle Fires Hundreds of Workers Amid Immigration Probe

Chipotle (CMG), the chain restaurant serving Mexican food, fired hundreds of workers in Minnesota after receiving notice from Immigration and Customs Enforcement that they had "suspect documents." The ICE began its probe of Chipotle in Minnesota, where the company employs about 1,200 workers, The Wall Street Journal reported. The probe has since spread to Chipotle restaurants in Virginia and Washington, DC.

McDonald's to Boost Prices on Some Menu Items

McDonald's will increase prices on some items in the U.S. this year in response to rising commodity prices that are boosting food costs, Chicago Breaking Business reported, citing remarks the company made on its earnings conference call Monday.

Can Cupcake-Maker Crumbs Hit the Sweet Spot?

Jason Bauer, CEO of the popular Crumbs Bake Shop, isn't worried about competition in the cupcake business. In fact, he welcomes it. But with his company going public and plans in place to expand from 34 stores to 200, can he avoid the pitfalls of other dessert companies that rose too fast and fell?

TastyKake Maker Considering Merger or Sale

Tasty Baking (TSTY), the maker of Tastykakes, said it is looking at options including a merger or sale as the company feels the pressure from declining sales. The company is also facing "unanticipated operational challenges" related to its bakery in Philadelphia%u2019s Navy Yard, CEO Charles Pizzi said, according to The Associated Press. The company has now lowered projected savings in the fourth quarter to $10 million from $13 million.

Starbucks Unveils New 'Coffee'-less Logo

Starbucks, the world's largest coffee-shop chain, on Wednesday unveiled a new logo that retains its iconic green mermaid but no longer includes the word "coffee," reflecting the company's efforts to expand sales through a broader array of menu and consumer-product items.

McDonald's Is Out to Shake Up the Milkshake

The ice cream drinks have been a fast-food favorite for decades. Now, McDonald's is considering giving them a new look -- serving the shakes in see-through plastic cups instead of the current white paper cup familiar to customers the world over.

Sara Lee Considering Sale to Brazil's JBS

Sara Lee (SLE) has been in discussions to sell itself to Brazilian meat company JBS. Talks have been taking place intermittently for several months, Reuters reported without naming its sources. The companies have disagreed over the price of food beverage company Sara Lee and it is not clear that they can reach a deal.

McDonald's Plans Massive Expansion in China

McDonald%u2019s (MCD) is planning a massive expansion in China as it seeks to take advantage of rapid economic growth and burgeoning consumer demand. The restaurant giant will boost investment in China by 40% in 2011, The Wall Street Journal said. The company is planning to build as many as 200 new restaurants across the country.

McDonald's Comparable Sales Rose 4.9% in November

McDonald%u2019s (MCD) said that sales at stores open at least one year rose 4.8% in November from a year earlier. Comparable sales rose 4.9% in Europe and the United States, and by 2.4% in the rest of the world, the company said in a statement.

KFC Takes Aim at African Market

Yum Brands Inc, (YUM) owner of the KFC and Pizza Hut brands, is taking aim at the fast-growing African market for fast food. The company, based in Louisville, Ky, plans to double the number of KFC restaurants in Africa to 1,200 by 2014, The Wall Street Journal said. It hopes to double its revenue from the continent to $2 billion over the next four years.

Blackstone and China's Bright Food Group Plan Bid for GNC

Blackstone Group (BX) and Chinese food company Bright Food Group plan to bid for GNC Holdings, Bloomberg News reported. The purchase of vitamin and nutrition- supplement retail chain GNC could be announced as soon this month, Bloomberg News said without naming its sources.

Pepsi to Take $3.8 Billion Stake in Russian Company

PepsiCo (PEP) will buy a 66% stake in Russian food and beverage company Wimm-Bill-Dann Foods for $3.8 billion. The deal will make Pepsi the largest food and beverage company in Russia, the company said in a statement. It will also boost annual global revenues from "nutritious and functional foods" to almost $13 billion from around $10 billion today.

Weight Watchers Unveils New Points Program

Weight Watchers International (WTW) unveiled the successor to its iconic calorie-counting Points program. The PointsPlus program will not only identify the number of calories in a foodstuff, but also favor food that the body works harder to convert into energy and steer the weight-conscious away from food with excess sugar and fats.

Hormel Foods Reports Earnings of 90 Cents Per Share

Hormel Foods Corp. (HRL) reported earnings of 90 cents per share for the final quarter of fiscal 2010, compared with 77 cents per share a year earlier. Sales rose 23% from a year earlier to $2.1 billion, the company said in a statement.

Tyson Foods Reports Quarterly EPS of 57 Cents

Tyson Foods (TSN) reported earnings of 57 cents per share for the fourth quarter of fiscal 2010, compared with a loss of $1.23 per share a year earlier. The company reported goodwill impairment charges of 7 cents per share in the quarter, up from $1.50 per share a year earlier.

Heinz Reports Earnings of 78 Cents Per Share

Heinz Co. (HNZ) reported earnings per share from continuing operations of 78 cents for the quarter ended Oct. 27, compared with 76 cents per share a year earlier. Sales for the second quarter of fiscal 2011 fell 1.2% to $2.61 billion, the company said in a statement. The decline was due to currency movements, the statement said. Organic sales in emerging markets rose 10.2%.