Apple accused of avoiding billions in overseas taxes. 

Hershey launches new brand to get piece of China market.

Foxconn confirms employee deaths.

Best Buy swings to a loss on lower revenues.

Burberry is lifted by China performance.

Chevrolet joins Mad Men buzz on Twitter.

Chris-Craft rebuilds boat maker after recession.

Flowers Foods predicts "record year" after acquisition of Hostess brands.

Giorgio Armani profit is boosted by Asia.

GrubHub and Seamless merge their food ordering services.Continue reading...

While the Obama administration continues to deliberate to what extent and how quickly food and beverage companies must communicate more nutrition information on the packages of their products, more CPG leaders are stepping out with their own initiatives to address still-rising concerns about junk food and obesity in America.

Hershey is the latest. The candy leader announced that it will print the amounts of calories, saturated fats, sodium and sugar per serving on the front of all of its packages beginning in the second half of this year and evolving across all of its packaging over the next several years.

"We are doing this because we belive that front-of-pack labeling provides consumers with straightforward information that empowers them to make informed food and beverage choices when shopping," said a Hershey spokesman, according to Candy and Snack Today.Continue reading...

Given that it mainly peddles sugar and calorie-laden products deemed junk food and held dubious by everyone from the mayor of New York to the family pediatrician, how does the Hershey Company plan to nearly double its global revenues over the next five years?

Well, Hershey plans to leverage strategic innovation, global expansion, "impulsivity" and something called "hand-to-mouth platforms" to become a $10 billion company by 2017 (after posting revenues of $6.6 billion last year) despite the increasing encroachments of better-for-you products and nutritional cautions in the U.S. and other key markets.

"Our plan builds off the insights-driven, consumer-centric business approach we built in 2008 but takes it to the next level," Michele Buck, senior vice president and growth officer of Hershey, said at a recent analyst confab in New York, according to Food Business News. The strategy relies largely on global expansion of core brands: Hershey's, Reese's, the Kisses brand, Jolly Rancher's and Ice Breakers as well as "selectively build[ing] out our portfolio in other on-trend segments."

Continue reading...

AB InBev sees U.S. government sue to block acquisition of Grupo Modelo.

Best Buy Canada blames Walmart and Target for closure of 15 stores as Sears Canada downsizes.

P&G launches dual Old Spice Men in new campaign.

BlackBerry touts deal with NHL and begins selling new BlackBerry 10 in U.K. as investors retreat.

AstraZeneca and Bristol-Myers deepen diabetes-marketing alliance.

Chrysler reports 16-percent increase in January sales, strongest in five years.

GM promotion with Costco proves its worth.

Google submits proposal to resolve antitrust concerns in Europe.Continue reading...

Netflix CEO says company is "on probation" despite soaring subscriptions.

Coach reveals ready to wear collection in bid to add luster.

NFL pressures fan to nix Harbowl trademark.

Acer writes down value of brands.

Air Canada CEO defends higher airline fees.

Apple stock plunge highlights investor expectations.

Barclays new CEO swings the axe in Asia.

Benetton turns down the shock tactics.

H&M to stage first Paris Fashion Week show in eight years.Continue reading...

Apple joins Google in $500M+ bid for Kodak patents; smacked by USPTO as 'Steve Jobs Patent' for iPhones and iPads deemed invalid and Siri secrets revealed.

Diageo seen as unlikely to bid for Beam following UK report that drinks giant talked to Suntory about joint bid.

Barnes & Noble cuts Nook price from $99 to $79.

Michael Bloomberg weighs making bid for The Financial Times, which includes the paper and a half-interest in The Economist. 

Caribou Coffee celebrates 20th anniversary.

Carlos Slim brings Telcel brand to U.S. for Mexico calls.

CVS Caremark reportedly aims to acquire drug-store chain in Brazil.

Chili's begins soft rollout of new menu items.

Darden Restaurants looks to retool value proposition for its Olive Garden and Red Lobster restaurants.Continue reading...

Apple plans limited US manufacturing as it lands back in court with Samsung and baffles Eric Schmidt.

Starbucks agrees to pay more UK tax, capitulating to criticism.

Rolls-Royce is caught in bribery probe in UK.

AmEx works on social engagement that closes the loop with consumers.

AT&T is on track for record smartphone sales.

Barclays Africa is sold to Absa in $2.1 billion transaction.

Bob Marley trademark spat settled as 'relaxation drink' comes under fire.

Deutsche Bank is probed by SEC.

Dish will start selling mobile phones at its Blockbuster movie rental stores.Continue reading...

For a while, the notion of regulating genetically modified organisms (better known as GMOs) included in food seemed like a good idea, and anti-Big Food advocates in California attracted a lot of support in a state where residents like to be on the cutting edge of just about everything. Calfornians have never minded serving as a bellwether on new regulatory initiatives that end up sweeping the rest of the country, such as automotive emissions.

But the closer today's vote on Proposition 37 loomed, the more that initial support of the idea waned. And this U.S. Election Day, even backers of the anti-GMO initiative seemed resigned to its defeat, although it's still being closely watched. (Update: Prop 37 was indeed defeated at the polling booth.)

What happened? Well, a combination of huge contributions by moneyed CPG brands battered Prop 37's drive to label GMOs in a massive advertising and PR blitz with a "No on 37" drive. And backers of the added regulation alleged dirty tricks by the competition as they sought to sway voters (despite scientific evidence to the contrary) that GMO-containing products are hardly the stuff of "Frankenfood" that really harms consumers.Continue reading...