How Costco became a staple of Asian America

Durian at a Costco Wholesale location in Woodland Hills, California. April 24, 2022. Wendy Leung Wendy Leung rarely saw durian in grocery stores growing up in Los Angeles, but the 45-year-old nonprofit worker found the fruit at her local Costco Wholesale in San Fernando Valley this April. Durian is used in Southeast Asian cuisines and … Read more

Restaurant traffic weakened in April, but there are some safe havens for investors

Restaurants suffered a slight softening of traffic in April, according to new data, as Americans contended with soaring inflation and talk of a potential recession over the next year. Restaurant meal prices were up 9% in April compared to pre-pandemic levels in 2019, according to a report from the NPD group, which conducts market research … Read more

Wendy’s shares surge as Trian, its largest shareholder, explores potential deal

A drive-thru window of a Wendy’s restaurant in Peoria, Illinois. Daniel Acker | Bloomberg | Getty Images Shares of Wendy’s surged roughly 15% in extended trading Tuesday after a filing revealed hedge fund Trian Partners, its largest shareholder, is exploring a potential deal with the company. Trian, along with its partners, owns a 19.4% stake … Read more

DoorDash can jump 32% given its market leadership in food delivery, Bernstein says

DoorDash is a top pick among US emerging internet companies given its leadership in the on-demand delivery space, according to Bernstein. Analyst Nikhil Devnani in a Monday note initiated coverage of DoorDash with an outperform rating and a price target of $ 90 per share. That represents more than 32% upside from where shares closed … Read more

Another baby formula shipment from Europe to arrive in the U.S. on Wednesday

Empty shelves show a shortage of baby formula at a Target store in San Antonio, Texas, May 10, 2022. Kaylee Greenlee Beal | Reuters FedEx Express has secured a government contract to bring another shipment of infant formula to the US on Wednesday, NBC News reported. The Express plane will fly from Ramstein Air Base … Read more

First baby formula shipment arrives from Europe on U.S. military plane

A military cargo plane carrying the first shipment of infant formula from Europe to address a critical shortage in the United States landed in Indianapolis on Sunday. A Feb. 17 recall by top baby formula maker Abbott Laboratories and the closing of its manufacturing plant in Sturgis, Michigan have created one of the biggest infant … Read more

Some Jif peanut butter products linked to salmonella cases

Consumers should double-check their jars of Jif peanut butter amid a recall, the Food and Drug Administration and the Centers for Disease Control and Prevention say. Jif’s creamy, crunchy, natural and reduced fat peanut butters have been linked to a salmonella outbreak across 12 states that has left 14 ill, with two people being hospitalized. … Read more

Abbott CEO apologizes for baby formula shortage in Washington Post

The Abbott manufacturing facility in Sturgis, Michigan, on May 13, 2022. Jeff Kowalsky | AFP | Getty Images Abbott Laboratories CEO Robert Ford apologized Saturday in a new op-ed for his company’s role in a nationwide shortage of baby formula, which this week moved Congress and the Biden administration to take emergency actions to alleviate … Read more

Baby formula shortage is bringing out scammers, FTC warns

Sod Tatong | Moment | Getty Images Scammers are exploiting a nationwide baby formula shortage, tricking consumers into paying hefty prices through fraudulent online stores, the Federal Trade Commission said Wednesday. The con artists lure “desperate parents and caregivers” via fake websites or social media profiles with images and logos of recognizable formula brands, according … Read more

U.S., Europe to improve food chains after India bans wheat exports

PARIS – The United States and the European Union are looking at how to improve food supply chains with export restrictions from India and other nations accentuating global problems, the EU trade chief told CNBC. G-7 foreign ministers warned over the weekend that the war in Ukraine is increasing the risk of a global hunger … Read more