Paulig, a Finnish food and beverage company, has announced its intention to invest 42 million euros in a new savoury snacks production facility in Spain. The company said that the new factory will strengthen its position in the Tex Mex and snacking categories in Europe, and will increase its innovation...
Grupo Bimbo Prepares for a New Phase of Growth and Efficiency in 2024
Grupo Bimbo, the world’s largest bakery company, has announced its results for 2023, showing a stable revenue and a lower operating profit. The company has also revealed its plans for 2024, which include a new strategy, a new structure, and a higher dividend. Grupo Bimbo expects to face a transitional...
Arla Foods Sees Branded Growth in Second Half of 2023
Arla Foods, the European dairy cooperative, has reported that its branded products saw a strong growth in the second half of 2023, after a challenging first half due to the COVID-19 pandemic and the consumer shift to discounted products. The company said that it expects the positive trend to continue...
China’s Luxury Spending Surges as New Year Celebrations Boost Demand
China’s luxury spending has surged in the first two months of 2024, as the country’s consumers splurged on high-end goods during the Lunar New Year celebrations. The strong demand has given a fresh start to the global luxury industry, which has been hit hard by the COVID-19 pandemic. China’s Luxury...
Ford CEO urges investors to focus on Ford Pro, not Tesla FSD
Ford Motor Company’s CEO Jim Farley has a message for Wall Street: stop obsessing over Tesla’s Full Self-Driving (FSD) technology and pay attention to Ford’s lucrative Pro business unit. Farley made these remarks at a Wolfe Research conference on Thursday, where he highlighted the potential and profitability of Ford Pro,...