Economy and finance
773 news found
Economy and financeAuchan under indictment: "Supplies the Russian army"
Ukrainian foreign minister points finger at French multinational, which denies it
The French retail chain Auchan is allegedly "a weapon of Russian aggression". The accusation comes directly from the Ukrainian Foreign Ministry, following an investigation report, according to which Auchan... more
Economy and financeKraft Heinz Files an "Incredible Year"
Revenues +1.7% in 2022: +447.9% in the fourth quarter alone
The Kraft Heinz Company today released fourth quarter and full year 2022 financial results. We start with the fourth quarter, which ended with net sales up 10% over the same period a year ago, reaching... more
Economy and financeRoncadin, 155 million Euros of pizzas in 2022
The Italian Company closed an "extremely demanding" year: turnover +4.4%
Roncadin closed the 2022 financial statements with a turnover of 155 million euros, up 4.4% compared to 2021. Production volumes decreased slightly, going from 100 million to 95 million pieces. This was... more
Economy and financeRestaurant brands international, 2022 in strong growth
Sales at +12% for the giant owner of Burger King. Kobza new CEO since March
RBI, Restaurant brands international reports 2022 and fourth quarter results in which global sales grew nearly 12% and more than 13% for the full year. Consolidated sales, in turn, were up nearly 8% in... more
Economy and financeNestlé, sales rise but profit falls
Revenues up 8.4 percent in 2022: analysts' forecasts disappointed
Not pleasing the market were Nestlé's 2022 results, which reported sales growth of 8.4 percent to 94.42 billion Swiss francs (about $ 102.4 billion), up from $ 94.3 billion a year earlier. The performance,... more
Economy and financeElectrolux countermand: Italy also in danger. Rsu ready to strike
After the plant closure in Hungary, could it be the turn of one of the five Italian plants?
Those who interpreted the closure of the Electrolux plant in Nyíregyháza, Hungary, as a sign of peace for Italian factories were wrong (see article Electrolux in crisis but Italy (for now) is saved). T... more
Economy and financeEU Economy Forecast: Is the Worst Over?
Growth prospects in the euro area at 0.9%. However, high energy costs continue to weigh
Overall inflation is expected to fall from 9.2% in 2022 to 6.4% in 2023, down to 2.8% in 2024. more
Economy and financeTomato: Princes Industrie rewards top suppliers
The British group has distributed 4.5 million euro prize money to Apulian farmers
Princes Industrie Alimentari (Pia) discussed the 2022 tomato campaign with its agricultural partners, handing out awards for product quality and sustainability. The meeting took place at the Foggia headquarters... more
Economy and financeFruit Logistica 2023: Table Grape Cadastre presented
The project currently involves 35 production organisations covering a total of 8000 hectares
The Table Grape Cadastre was launched this morning at Fruit Logistica in the collective area Italy The Beauty of Quality. The project bears the signature of CUT, the Italian Table Grape Commission, and... more
Economy and financeSouth Africa: food security at risk due to water and energy shortages
Revise zero-rate basket, calls for nation's largest poultry producer
Deepening crisis plunges industry into: in the impossibility of water and electricity supplies, it will become arduous to grow maize and soybeans for feed for local poultry, the country's primary source... more
Economy and financeDown with Tyson, world's second-largest meat producer
U.S. brand ends first quarter with net profits slumped from $1.12 billion to $316 million
It is one of the first U.S. brands to have participated in the testing and marketing of test tube meat in the United States (see article Test tube meat, first okay from U.S. Fda). Now, however, Tyson Foods,... more
Economy and financeFine wine: Sotheby's closes with €121 million
Auction sales up 9 percent over 2022, according to an analysis
Fine wine also holds sway at auctions. This is reported in an analysis by the Pambianco Observatory on the wine sector. The study highlights how for the sector, 2022 was "a wonderful year for fine wine,"... more
Economy and financeDanone opens new research and innovation center in Paris
Five floors and 900 sqm for Daniel Carasso hub
Following the appointment of the three new deputy directors and the change in the French company's management structure (see article Shake-up at Danone) and the sale of some brands (see article Danone... more
Economy and financeDanone opens a new research and innovation center in Paris
Five floors and 900 m2 for the Daniel Carasso centre
After the appointment of the three new deputy directors and the change in the managerial structure of the French company and the sale of some brands, now the multinational French del food officially opens... more
Economy and financeIreland insists on anti-alcohol labels, Rome holds back
The Ministry of Health confirms that in "2 or 3 months" it will be able to initiate the law
Ireland is going its own way with regards to the idea of integrating health indications on possible harm into alcohol labels, and Italy is preparing for a battle on all possible fronts in order to limit... more
Economy and financeHershey closes out one of the strongest years ever
Revenue 2022 at $10.4 billion up 16.1 percent and sales up 12 percent
Hershey Company, one of the world's chocolate giants, today announced its results for the fourth quarter and full year 2022 ended Dec. 31. Just a few items suffice to highlight that we are talking about... more
Economy and financeCNH, delisting from Piazza Affari and record results in 2022
The Exor tractor factory remains listed only in New York: last year revenues up 26.7%
Cnh Industrial leaves Piazza Affari. The tractor group of the Exor galaxy has announced its intention to proceed with the delisting from Borsa Italiana by the beginning of 2024. The group will remain listed... more
Economy and financeEIB, Italy first EU country for green loans
In 2022, 55% of total resources disbursed to our country for the fight against climate change and environmental sustainability
In 2022 Italy was the first country for loans and resources managed by the EIB Group. This was stated in an official statement by the group made up of the European Investment Bank and the EIF, the European... more
Economy and financeDole sells its vegetable division to Chiquita
The deal is worth approximately $ 293 million
Dole sells its fresh vegetable division to a subsidiary of Fresh Express, a subsidiary of Chiquita Brands International. The deal is worth approximately $293 million and is subject to "some adjustments."With... more
Economy and financeConsumer prices 2023: inflation in sharp decline
However, widespread tensions remain on the prices of processed food goods, and other goods and services /Annex
According to preliminary estimates, in January 2023 the rate of change of the Italian consumer price index for the whole nation (NIC) was +0.2% on monthly basis and +10.1% on annual basis (from +11.6%... more
Economy and financeMcDonald's ends year on a high note thanks to pricing policy
2022 revenue at $23.2 billion, net income of $6.17 billion
McDonald's has beaten Wall Street estimates on quarterly profit. The U.S. burger giant announced it ended the fourth quarter with net income of $ 1.9 billion (or $ 2.59 per share), up from $ 1.64 billion... more
Economy and financeClabo showcases an upbeat 2022
The company that serves bakeries and cafes closed with revenues up 15.8 percent. Good performance in the U.S.
Consolidated revenues of 58.8 million euros, up 15.8 percent from the previous year, and sales of 51.4 million euros, up 16.2 percent. These are the highlights of the 2022 financial statements of Clabo,... more
Economy and financeWalmart increases wages in US hypermarkets
About 340 thousand employees in 3,000 stores will benefit
Walmart, the U.S. retail giant, has decided to increase the average hourly wage for workers in its stores starting next February. The new increases will bring the average hourly wage to $ 17.5 from the... more
Economy and financeChanging of the guard for Nestlé UK and Ireland
From March 1st 2023 Richard Watson will be the new CEO replacing Stefano Agostini who becomes head of Europe
Nestlé appointed Richard Watson as the new Chief Executive Officer for the UK and Ireland. The current CEO Stefano Agostini will become responsible for the confectionary sector for the Nestlé Europe Z... more
Economy and financeEvertis opens first plant in Italy for food packaging
The company invests 13 million; at least 50 new jobs are expected
The Img Group, present in the polymer industry since 1959 and pioneer of PET film extrusion, will make a greenfield investment in Friuli Venezia Giulia. The announced operation provides for investments... more
Economy and financeIncrease the price of agricultural goods in the EU
Eurostat, price increases by 24% between 2021 and 2022: cereals (+45%), eggs (+43%) and milk (+31%) skyrocket
First estimates of agricultural price indices for 2022 indicate that they were substantially higher than 2021 for almost all the main product categories as well as for key agricultural inputs. There were... more
Economy and financeItalian sparkling wine record abroad
By the end of 2022, 700 million bottles had been uncorked
After New Year's Eve, it's time for first balance sheets. First of all for the Italian bubbles. The first data claim that the historic record for made in Italy toasts was reached in the world in 2022.... more
Economy and financeRiverside Cooks Up Italian Pasta Investment
Take over Canuti and create a pole with Il Pastaio di Brescia
The Riverside Company, a global private investor focused on the smaller end of the middle market, has acquired Canuti Tradizione Italiana S.r.l., a family-owned producer of frozen pasta serving the food... more
Economy and financeHoney, Idea Agro takes over Apicoltura Vangelisti
The family will retain a minority stake. Appointed new CEO
Idea Agro, a private equity fund in Italy entirely dedicated to investments in agribusiness and agricultural development projects, managed by Dea Capital Alternative Funds SGR, has acquired an 85% majority... more
Economy and financeReal estate, Dea Capital RE creates first pan-European fund
Collection objective of up to € 500 M, to invest in offices and assets for hospitality and retail use
DeA Capital Real Estate SGR has announced the establishment of its first pan-European fund dedicated to institutional investors: DeA Capital Real Estate Investment Fund I, with a collection target of up... more
Economy and financeInvestindustrial/2. Acquired Parker Food group
Today concluded the agreement with Riverside company for the company of special ingredients with high added value
The summer of Investindustrial is not over (see other article), which today acquired the American Parker Food group from Riverside company. It is a leading company in the development and production of... more
Economy and financeUSA shopping for Investindustrial
$ 950M deal for the acquisition of TreeHouse Foods
"Very hot" mid-August in the United States for Investindustrial (see also other article). As an official statement indicates, an indirectly held investment company (Investindustrial VII L.P.) has signed... more
Economy and financeBlu Banca and Sace finance Cilento
Loan of 5 million euros for the new plant
New 7,500 m2 high-tech production plant in Cellole, near Caserta. This is the number one goal of Cilento, a Campania company that produces POD Campania Buffalo Mozzarella, Buffalo Burrata and Buffalo Ricotta.... more
Economy and financeExport, record of the Italian agri-food districts in the 1st quarter
According to the Intesa Sanpaolo report, the share of EUR 6B has been reached (+15.4%)
In the 1Q2022, exports from the Italian agri-food districts reached a record value of EUR 6 billion, up by 811 million (+ 15.4%) compared to the same period of 2021. The result partly reflects the inflationary... more
Economy and financeCDP and Credite Agricole work alongside Aboca healthcare
Loans for EUR 33.5 million guaranteed by Sace
Increase investments in research and development but also increase production capacities and exports all over the world of health products made in Italy. These, in short, are the objectives of the new... more
Economy and financeReal estate. Dea Capital signs JV with Harrison Street in Spain
To build housing complexes intended for rent with advanced all-inclusive services
DeA Capital S.p.A., Italy's leading independent alternative asset management platform with a significant pan-European presence, and Harrison Street, a leading investment management firm dealing exclusively... more
Economy and financeStarbucks, financial report better than expected
Record trimester at more than 8 billion dollars, 9% rise
Starbucks reported results exceeding expectations for the fiscal third quarter ended July 3, 2022. Sales of coffee drinks helped push the coffee giant's revenue to a quarterly record of $ 8.2 billion,... more
Economy and financeMorato acquires NtFood
The Veneto group, leader in industrial bakery, grows in the production of gluten-free products
Morato continues its growth strategy by external lines with the acquisition of the majority stake in Nt Food, a Tuscan company specializing in gluten-free baked goods. The economic terms of the transaction... more
Economy and financeCrédite Agricole Italia: agreement with Confagricoltura
Focus on investment projects dedicated to young farmers
New action plan prepared by Crédit Agricole Italia and Confagricoltura in support of the Italian agricultural sector, with the aim of supporting companies put to the test by the persistence of drought... more
Economy and financeSpain, private equity tour on Natra
Investindustrial sells the chocolate giant to CapVest
The investment holding Investindustrial (chaired by Andrea Bonomi) through the newco World Confectionery Group, has decided to sell the ownership of the Spanish chocolate giant Natra to funds managed by... more
Economy and financeColdiretti-Philip Morris settlement for the tobacco production chain
Around 1000 businesses involved, between Tuscany, Umbria, Campania and Veneto
The settlement between Coldiretti and Philip Morris Italy was signed in Rome, to guarantee the continuity of investments on Italian tobacco in 2022. The agreement will concern more than 20 thousand tonnes... more
Economy and financeTomatoes: Steriltom acquires Italtom
Collected minority quotes held by Emiliana Conserve
Tomato finances: chain reactions followed after Casalasco's acquisition of Emiliana Conserve (see articolo di EFA News del 7/7/2022).Steriltom, one of the main European producers of tomato pulp for the... more
Economy and financeDea Capital invests in water parks
The IDeA Corporate Credit Recovery II fund takes over 10% of Costa Edutainment
The IDeA Corporate Credit Recovery II fund, managed by DeA Capital Alternative Funds Sgr, acquired a 10% stake in the Costa Edutainment Group to support the company's development over the next few years.... more
Economy and financeReal estate: the historic Federconsorzi building sold
In Rome, 175 million transaction managed by Dea Capital Re Sgr
The purchase and sale transaction of the historic Roman property, former headquarters of Federconsorzi, in Piazza Indipendenza was concluded, which saw DeA Capital Real Estate SGR at the center of a significant... more
Economy and financeCrédit Agricole Italia wins the 'Prize of prices'
Twelfth Edition for the acknowledgement assigned to who stood out for innovation authenticity
The "Prize of prizes" was awarded to Crédit Agricole Italia as part of the National Innovation Award. Coordinated by the Cotec Foundation under the concession of the President of the Republic, it is now... more
Economy and financeCrédit Agricole's "Ambitions" 2025
Attention to the environment and health in the Expansion Plan for the coming years
It's called Ambitions 2025 and it maps out Crédit Agricole's "ambitions" from here to 2025. Long-term ambitions because, as President Dominique Lefebvre stressed, "in an opaque short term environment,... more
Economy and financeIntesa Sanpaolo, Grana Padano to guarantee the credit
The revolving pledge agreement between the bank and the Consortium has been signed
Agreement signed between Intesa Sanpaolo and the Consortium for the Protection of Grana Padano Dop. The agreement is one of the initiatives that the bank has implemented to support investments related... more
Economy and financeQuaestio Solutions Funds - DeA Global REITs at the start
Focus on the real estate of the future: logistics, light industry and data centers
DeA Capital Real Estate Germany announces the launch of Quaestio Solutions Funds - DeA Global REITs, an FCP-UCITS fund managed in collaboration with Quaestio Capital Sgr. In two weeks from the authorization... more
Economy and financeHyle Capital aquires Guaresi’s agricultural machinery
Third investment of the ‘Finance for Food one’ fund
Hyle Capital Partners, through its ‘Finance for Food One’ fund, has acquired the entire company that is Guaresi Spa, Italian excellence leader in the agricultural machinery sector.Founded in 1932 in Pil... more
Economy and financePolo del Gusto (Illy) takes over Rococo Chocolates
The brand and 3 london shops were acquired through Prestat
Polo del Gusto, a subholding from Illy’s group dedicated to food businesses other than coffee, has announced the acquisition of a third chocolate society, after Domori and Prestat: it’s the long-established Roc... more