Nestle

The world’s only approved peanut allergy drug has so far proved a flop. Nestlé SA said Tuesday it would explore strategic options for the treatment, effectively putting the drug up for sale, following lower-than-expected demand from doctors and patients. The move comes just two years after the packaged-food giant agreed to buy the developer of the drug, called Palforzia, in a $2.6 billion deal. “We did have high hopes for this business,” Nestlé Chief Executive…

Photo: Stephen Lovekin (Getty Images)Whiskey conglomerate Jack Daniel’s Property, Inc has filed a dispute against the dog toy maker VIP Products LLC for making a toy parody of its signature whiskey bottle. The company has even successfully pushed the U.S. Supreme Court to hear their dispute, which they agreed to on Monday. SCOTUSblog shared the news in a Twitter post, writing that the nation’s highest court had agreed to hear the dispute between Jack Daniel’s and the toy manufacturer, adding, “The case will have…

Cattle on a feedlot in Nebraska.Photo: Nati Harnik (AP)The world’s largest meat and dairy companies are responsible for more than 10% of all global methane emissions from livestock, with some singular companies emitting as much or more methane than many individual countries, including Russia, Germany, and Australia, a new report finds. The report, released this week from the Institute for Agriculture and Trade Policy and the Changing Markets Foundation, does a lot of math on food giants like JBS, Tyson, Nestle,and…

Image: Gizmodo / Theo Wargo/WireImage (Getty Images)Elon Musk purchased Twitter for $44 billion just two weeks ago and he’s already made a complete mess of the social media company. Advertisers are fleeing, literal neo-Nazis are getting verified, and impersonator accounts are running rampant. And Musk needs to figure out a way to make $1.2 billion in debt payments each year or risk the company going bankrupt.Musk is clearly just trying to change Twitter based on vibes and the input of the worst people on the planet, with…

Business leaders are pushing for specific actions to combat climate change and asking for clearer policies to support such initiatives from governments at the United Nations climate summit in Egypt. Top executives of 101 companies penned an open letter last week urging governments and companies to support existing solutions to meet the goals of the 2015 Paris Agreement, which aims to keep global warming well below 2 degrees Celsius by the end of the century.  Business leaders are pushing…

Corporate giants vowed change, but are falling short on their promises. Some of the biggest companies on Earth are all but certain to shoot past agreed upon targets to make plastic packaging more sustainable by 2025, according to a report published Wednesday.Beginning in 2018, hundreds of the world’s largest brands signed on to the Global Commitment, an initiative for tackling the problem of plastic pollution created by the Ellen MacArthur Foundation and the UN Environment Programme. Companies like PepsiCo, Coca-Cola,…

Nestlé SA NSRGY 1.16% said it has agreed to acquire the Seattle’s Best Coffee brand from Starbucks Corp. SBUX 0.07% , bolstering the Nescafe and Nespresso owner’s coffee business in the U.S. The world’s largest packaged-food maker said Wednesday that the acquisition of the brand, which sells a range of packaged coffee in grocery stores as well as in locations such as workplaces,…

Photo: AtlasStudio (Shutterstock)This story was originally published by Grist. You can subscribe to its weekly newsletter here.Plastic recycling labels are everywhere: The ubiquitous “chasing arrows” symbol adorns everything from plastic bags and water bottles to kids’ toys.Most commonly, these symbols appear with a number — 1 through 7 — that identifies the type of plastic resin a product is made of. A number 1, for instance, corresponds to polyethylene terephthalate, or PET — the stuff that makes up water bottles.…

A worker in Accra sorts plastic for recycling.Photo: Cristina Aldehuela/AFP (Getty Images)When a huge plastic producer like Coca-Cola says it’s working to solve the plastic crisis, what does that really look like? An investigation published Friday by Bloomberg documents how one initiative in Ghana was used by some of the world’s biggest plastic producers to battle against threats of plastic bans, while failing to deliver on some of its key promises.Plastic pollution is a deadly problem in Ghana, which creates more than 1…

Higher costs for commodities, freight and energy are starting to eat into profit at Nestle SA, even as the world’s largest packaged foods company pushes up prices for its Nescafé coffee and KitKat chocolate. Nestlé and other consumer-goods companies have for much of the past year been grappling with high inflation as the recovery from Covid-19 gains steam. This year, the war in Ukraine has sent energy prices soaring further. Despite raising prices sharply, Nestlé said…