Nestle to refocus on core business, CEO says
Laurent Freixe, who took the helm of the company in September, told the newspaper he did not see the merits of slimming down the company's portfolio, except in segments where Nestle was not in a position to win.
"I think we should never forget that M&A is not the strategy," he was quoted as saying.
In another interview earlier this week, Freixe said Nestle was recovering market share in the US despite concerns stemming from the Trump administration's imposition of tariffs on its key trading partners last month.
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Irish Examiner
4 days ago
- Irish Examiner
Catherine Conlon: Drop in US junk food sales the break we need to cut unhealthy diets
Our food system is killing us. Designed to produce cheap calories after the second world war, it is now the cause of one in four adult deaths globally – more than 12 million a year that are due to poor diets. As always, it is the poorest and most marginalised who are most likely to be sicker and die sooner. But a slowdown in sales of snack foods in the US is an opportunity to accelerate a growing momentum away from unhealthy foods that have precipitated a global obesity crisis and an epidemic of chronic disease including type 2 diabetes, cardiovascular disease and cancer. The introduction of a junk food tax that is used to subsidise the cost of healthier food options like fruit and vegetables, fresh meat, fish and wholegrains has the potential to accelerate this momentum. It could also be used to support producers of whole foods. The combination of supports would have the potential to transform the food market and make life easier and better for everyone. A report in the Financial Times confirms that America's appetite for snacks is turning sour. Biscuits, chocolate bars and crisps are being left on the shelves as US consumers tighten their purse strings, according to grocery scanner tracker Circana. The shift away from junk food has been underpinned by the arrival of GLP-1 weight-loss drugs. The sale of sweet treats has fallen by 6.1% and salty snacks by 1.2% in the US in the last year, according to checkout data collected by NielsenIQ. The shift has also been underpinned by the arrival of GLP-1 weight-loss drugs, such as Ozempic as well as increasing concern about the health risks of eating ultra-processed foods. US Consumer goods industry consultancy, Big Chalk Analytics, estimate that GLP-1 medications has already caused US grocery losses of between 1.2 and 2.9%. Nik Modi, a consumer goods analyst at RBC Capital Markets, told the Financial Times that he believed "a big chunk" of the sales decline was down to "the economy". The snacks being hardest hit are reported to be those that are laden with salt and sugar while healthier alternatives like nutrition bars and yogurts are growing, according to market research firm Spins. US consumer staples analyst at Bank of America, Peter Galbo suggested that with budgets under pressure consumers were tending to either spend more for a snack they see as healthier or trade down to a value brand. Governments can use taxation, laws on marketing, labelling, advertising and ingredients and other policies to shift the food environment. They can provide social and economic safety nets for low-income communities. Yet the rate of progress in implementing these policy levers is excruciatingly slow because policy makers do not feel they have the public mandate to introduce the steps that are needed. And because the food industry will baulk at anything that impacts on shareholder profit. Research from Northeastern University's Network Science Institute indicates that almost three quarters (73%) of the US food supply is ultra-processed, as is around 60% of the average American's diet. The study defined ultra-processed according to the NOVA food classification system. These foods are hyper-palatable 'industrial formulations' that stray from their organic origins. Most processed foods are derived from substances such as oils, fats, sugar, starch or are synthesised from flavour enhancers, colours, and other additives. While not yet in quite the same league as the US, in Ireland almost half (45.9%) of household purchases come from ultra-processed food resulting in one of the unhealthiest food systems in Europe. Only the UK (50.7%) and Germany (46.2%) are higher with countries at the lower end including Portugal (10.2%), Italy (13.4%) and Greece (13.7%), according to data published in Public Health Nutrition (2018). Yet we somehow accept this as normal. A recent UK report found that a basket of healthy food costs more than double that of less healthy options. The Food Foundation found that 1,000 calories of healthy food such as fruit and veg costs £8.80 compared to £4.30 for the equivalent amount of less healthy food, such as ready meals and processed meats. The charity warned that low-income families are being priced out of being able to afford to eat healthily. What would really make a difference is for governments to disincentivise unhealthy foods while using subsidies and pricing to incentivise healthier food purchases for all, especially low income households and families. A junk food tax to subsidise healthy options Subsidies for healthy food - including fruit and vegetables but also meat, fish, and wholegrains - would mean that consumers pay less for whole foods instead of calorie dense foods that have had all the healthy fibre and nutrients removed to prolong shelf life and filled with saturated fat, sugar, salt and additives to give the food the 'bliss' factor that consumers crave. We have seen this work with the sugary drinks tax, introduced in Ireland and the UK in 2018, resulting in a precipitous drop in the consumption of drinks that fell into the tax band. It was followed by a rapid response from the industry in reformulating drinks products to ensure that sugar levels fell below levels that would fall into the tax band. In 2023, Colombia did just that with the implementation of a tax on ultra-processed foods – one of the first countries to take such a measure to tackle obesity, diabetes and other lifestyle diseases. The tax is being implemented gradually beginning at 10%, before rising to 15% in 2024 and 20% in 2025 – specifically targeting foods that are high in salt and saturated fat, as well as industrially manufactured pre-packaged foods. Foods to fall under the 'junk food law' include sausages, ham, ketchup, tinned foods, sweets, jam, fried goods, biscuits, cakes, cereals, pizza, breaded meat and energy bars. Imagine if consumers on a budget passed along the aisle and sought cheaper whole foods like fresh meat, fish, eggs, wholegrains, fruit and vegetables. A junk food tax could also be directed towards producers to subsidise the production of healthy food locally, allowing producers to make a living from growing foods that would be used to supply local retailers, markets and school programmes, as well as other public institutions that provide food like hospitals, nursing homes, prisons and public services. This is not rocket science. It involves much more than platitudes and empty words. It would involve a commitment by policy makers to address rising levels of food poverty, obesity, and chronic disease across our society that is caused by a lack of access and affordability to one of the most basic of human needs – healthy whole foods. Dr Catherine Conlon is a public health doctor in Cork and former director of human health and nutrition, safefood
Irish Daily Star
6 days ago
- Irish Daily Star
CNN stops show for 'breaking news' Trump announcement as viewers blast coverage
US President Donald Trump has been "vindicated" following a CNN breaking news report on the economy after his announcement of tariffs. The network interrupted its programming for a report that highlighted the US economy's addition of 147,000 jobs in June and a drop in unemployment rates to 4.1%. Trump declared new tariffs will be imposed on "10 ot 12" nations , stating: "They'll range in value from maybe 60% or 70% tariffs to 10% and 20% tariffs, but they're going to be starting to go out sometime tomorrow." He elaborated: "We've done the final form, and it's basically going to explain what the countries are going to be paying in tariffs." Read More Related Articles Ivanka Trump's 13-year-old daughter towers over family in glam snap ahead of Bezos wedding Read More Related Articles Patricia Arquette says US isn't 'safe for tourists' and calls to cancel the Olympics During the segment, presenter John Berman discussed the economic implications with financial expert Rana Foroohar, who serves as a Global Business Columnist and editor for the Financial Times. CNN issued a breaking news announcement on the US economy (Image: CNN) Berman remarked, "And again since March and before, there were predictions that the tariffs and tariffs policy was going to lead to inflation and job losses, and there was a prediction of doom, and that just hasn't happened yet." Foroohar responded, "It hasn't happened yet, and I have been doing a lot of reporting on this topic a nd what I'm hearing is that last few years really since Covid and even before, is companies have realised that your supply chains can be interrupted for lots of reasons and so they've been using technology to really streamline things, there are systems in place and there is a lot more efficiency in the system now. This is a triumph of business, "That said, when we think about who will do well during this period, it will be big businesses, with smaller businesses likely to struggle to cope with the new tariffs. For the latest local news and features on Irish America, visit our homepage here . "That concerns me, because small and mid-size businesses are what fuels a lot of communities around the country, if you see them going under because they can't take the tariff pressure, that could have some job impact, so again, optimistic right now but maybe some issues on the horizon," she concluded. The clip quickly made waves on social media, with one X user commenting, "CNN reports that President Trump's tariffs haven't tanked the economy, they've done the opposite. Trump is vindicated yet again." Another chimed in, "CNN, trying their hardest to make good news sound bad." A third remarked: "Yet she couldn't get herself to applaud DJT." A fourth expressed frustration, "These idiots still don't understand that tariffs are a negotiating tool. They think he's caved by lowering them when in fact he starts out with the highest knowing they will be lowered in negotiations. Are they this dense?". While a fifth pointed out, "Every negative angle they could dream of was spliced into that. Loved the lie about 'this is years of great jobs reports now' at the end - did I imagine that? Do they not realize that all Biden's jobs reports were fabricated & later discredited?" For all the latest news straight to your inbox, sign up for our FREE newsletters here .
Irish Examiner
26-06-2025
- Irish Examiner
Assets linked to alleged Kinahan associate deemed proceeds of crime by High Court
Assets belonging to an alleged Kinahan organised crime group associate who once resided in an affluent South Dublin suburb have been deemed by the High Court to be the proceeds of crime. The Criminal Assets Bureau claim Ciaran O'Sullivan, aged 50, who previously resided on Adelaide Road in Glenageary, is known to multiple law enforcement agencies as a transnational drug trafficker for over 20 years, and has lived a lavish lifestyle despite having no legitimate source of income. The bureau cites Mr O'Sullivan's daughters' attendance at an exclusive Swiss finishing school, Surval Montreux, as an indicator of this lifestyle. Assets On Wednesday, barrister Jim Benson, for the bureau, sought orders related to assets linked to Mr O'Sullivan, which were seized during searches of properties connected to him in June 2020. Among the assets seized were various devices recovered at his Glenageary address, including iPhones, Google Pixel phones and Samsung tablets. It is the bureau's case that Mr O'Sullivan was involved in the supply of EncroChat devices, and that these devices were held by Mr O'Sullivan to this end. EncroChat is a now-defunct encrypted messaging service favoured by those involved in organised crime. Other items seized included luxury watches, a Louis Vuitton briefcase, €3,060 cash and a gold bullion coin. Mr Justice Alexander Owens said he was satisfied these assets were the proceeds of crime, granting the orders sought by the bureau under section 3 of the Proceeds of Crime Act 1996. The judge refused to make the order sought in relation to €16,350 held in a bank account held under Mr O'Sullivan's aunt's name. The court heard evidence that this account was used to pay for Mr O'Sullivan's daughter's Swiss school fees. Mr Justice Owens said the net effect of granting orders sought relating to the bank account would be to take money from the pension of an elderly woman, and that this would be 'unfair'. Crime group connections In making his orders, Mr Justice Owens noted evidence submitted on Mr O'Sullivan's connections to a Chinese money laundering gang, who have provided services to the Kinahan organised crime group. In the 2000s, Mr O'Sullivan was targeted and arrested in joint Irish and Dutch police operations focusing on the activities of the Kinahan organised crime group, the bureau allege. Mr O'Sullivan has not lived in Ireland for some time, the court heard. He has no criminal convictions in Ireland, but was convicted of two separate drug-related offences in Spain and the Netherlands.
