U.S. Foodservice overstated profits by more than $880 million compared to an original report of $550 million. The duration of accounting irregularities lasted more than three years, Royal Ahold executives said.
HHS Secretary Tommy Thompson recognized PepsiCo's efforts to lower trans fat in Frito-Lay brands snacks by using different cooking oils. Lawsuits against restaurants chains or requirements that food labels include health information will prove less effective, Thompson said.
The U.K.'s Competition Commission is judging any potential impact of a Safeway plc acquisition. The Commission is deliberating whether a takeover would give any particular company an unfair advantage, either financially or geographically.
The Federal Trade Commission wants to sit down with Nestle SA, Dreyer's Grand Ice Cream and CoolBrands International to talk about their proposed $2.9 billion merger. The FTC is concerned that a merger could lead to antitrust issues in the superpremium ice cream market.