The Coca-Cola Company has entered into a $1.1 billion agreement with Microsoft to enhance its cloud computing infrastructure and integrate Microsoft’s generative AI technologies globally. As part of the five-year “strategic partnership,” Coca-Cola and Microsoft will collaborate to pioneer new applications of technology such as the Azure OpenAI Service. This collaboration aims to create “innovative generative AI use cases across various business functions,” a statement revealed. Coca-Cola has transitioned all its applications to Microsoft Azure, with the majority of its major independent bottling partners doing likewise. The beverage giant has been utilising generative AI for nearly a year and has…
Author: Sam Allcock
Grupo Bimbo is set to reduce its capital expenditure for 2024 and 2025 following a downturn in quarterly sales and profits, the Mexican bakery giant has reported. CFO Diego Gaxiola, speaking to analysts after the company presented its first-quarter financial results on 22 April, mentioned that the group was “expecting a slight decrease for this year” and “for 2025”. He suggested that there would likely be a “normalisation in [2026] going forward”. This announcement arrives as the group’s capital expenditure reached its zenith in 2024, characterised by a “very intensive” investment surpassing $2bn. Concurrently, Bimbo revised its sales forecast for…
Fazer Group is contemplating the merger of its two Baltic bakeries into a single production facility in Latvia, which may result in the loss of 185 jobs in Lithuania. The Finnish conglomerate is considering centralising “all production” of its Bakery Baltics division to its existing facility in Ogre, Latvia. Presently, the group operates bakeries in both Ogre and Kaunas, Lithuania. This consolidation would necessitate an investment of €18 million to enhance the site, including “an expanded warehouse for frozen and ambient products, new picking processes, and modernised production capabilities”. As a result of these changes, up to 185 employees in…
Poultry and pork processor Olymel has announced plans to close a meat processing facility in Canada due to decreasing production volumes. The facility located in Saint-Jean-sur-Richelieu, which primarily handles poultry alongside pork products, will see all 135 of its employees affected. The plant is scheduled to cease operations on 19 July, as stated by Olymel. “This decision comes against a backdrop of falling production volumes, which has led the plant to operate at only 40% of its operational capacity,” Olymel explained in a release. Yanick Gervais, CEO of Olymel, commented that the closure “is part of a major shift in…
In a significant move to provide emergency food assistance globally, the United States Department of Agriculture (USDA) and the United States Agency for International Development (USAID) have announced the allocation of $1 billion from the Commodity Credit Corporation to purchase commodities grown in the US. The announcement came from Agriculture Secretary Tom Vilsack and USAID Administrator Samantha Power, who stated, “America’s farmers are the most productive and efficient in the world, and we rely on them to supply safe and nutritious food not only to our nation, but to the global community.” Secretary Vilsack further highlighted the pressing need for…
Kroger and Albertsons are escalating their efforts to secure regulatory approval for their proposed $25bn merger by planning to sell additional stores to C&S Wholesale Grocers. In September last year, the retailers had initially planned to divest more than 400 stores to C&S Wholesale Grocers, aiming to gain the necessary regulatory green light for a merger first unveiled in October 2022. However, the merger faced a significant hurdle in February when the US Federal Trade Commission (FTC) sought to block it. The FTC argued that the merger would adversely affect both the retailers’ staff and customers, a claim both Kroger…
Argentina’s dwindling purchasing power has triggered the most severe drop in beef consumption witnessed in the country over the past 30 years. According to the Argentine Chamber of Meats and Derivatives Industry and Commerce (CICCRA), during the first quarter of the year, beef consumption plummeted to 499,700 tonnes, marking a decline of 17.6% from the same period in 2023. This decrease represents the largest quarterly drop recorded by CICCRA in 30 years. In March alone, per capita beef consumption in Argentina fell to 42.6kg, which is 18.5% lower than in March 2023. Miguel Schiariti, the president of CICCRA, expressed to…
Five Teamsters unions across the US have lodged charges against PepsiCo for alleged unfair labour practices, citing the company’s enforcement of “anti-worker policies.” The complaints were filed by unions based in Illinois, Indiana, and Iowa with the National Labour Relations Board of the country. They allege that PepsiCo has imposed “unlawful work rules” that restrict employees from discussing their wages and working hours. Moreover, the unions have accused the owner of Pepsi Max and Lay’s snacks of obstructing and deterring workers from forming or joining labour organisations. Jeff Padellaro, the director of the Teamsters brewery, bakery, and soft drink conference,…
American restaurant franchise Beef ‘O’ Brady’s has chosen ParTech’s omnichannel ordering and loyalty platforms to sharpen its digital approach and customer engagement. The incorporation of PAR MENU and PAR Punchh will deliver a unified omnichannel ordering and loyalty experience. PAR MENU will act as the cornerstone of Beef ‘O’ Brady’s digital ordering infrastructure, linking mobile app and web-based orders with third-party delivery services like UberEats, DoorDash, and GrubHub. The open API of MENU will be compatible with a variety of POS systems, which is essential for the franchise’s 140 locations that have processed over 35,000 orders since the system’s implementation.…
Starbucks Chile has broadened its footprint within the country by inaugurating its first outlet in Osorno, marking a significant step in its expansion strategy. The new outlet is managed by the company’s authorised partner, Alsea. It will offer customers a variety of hot and cold coffee drinks, sandwiches, and desserts. Starbucks South America director Claudia Aburto stated: “We are delighted to bring the Starbucks Experience to consumers in Osorno, expanding our presence in southern Chile. Our store designers have created a space that highlights must-see places in the region, such as the Osorno volcano and Lake Llanquihue, thus delivering moments…