Rupert Murdoch calls off proposed Fox-News Corp merger
Rupert Murdoch has withdrawn his proposal to re-combine Fox Corp and News Corp.
Fox said Tuesday its board received a letter from Murdoch, its chairman, and his son and Fox CEO Lachlan Murdoch that “determined that a combination is not optimal for the shareholders” of either of the companies at the time.
The withdrawal proposal comes as News Corp has been in advanced discussions to sell its stake in Move Inc., the parent company of Realtor.com, to commercial real estate company CoStar Groupaccording to a person familiar with the matter.
The deal could be valued at more than $3 billion,…
Consumer interest in foods’ mental health benefits growing
CHICAGO — Consumers have become increasingly focused on the role food plays in their mental and physical health, according to new research from The NPD Group.
The market research firm said consumers initially grew to care more about their overall health and wellness as a result of the pandemic, with food’s effect on health garnering more attention as the trend has continued. Now, consumers rank food and beverage choices just behind physical exercise as the main contributing factor to their health.
The emphasis on health and wellness may also be seen in the meal kits market where consumers now rank…
Riggs rises to president of Hershey salty snacks business
HERSHEY, PA. — Kristen Riggs has been promoted to president of salty snacks at Hershey Co.
Ms. Riggs has been with Hershey for more than 17 years, most recently as senior vice president and chief growth officer from January 2020 to November 2022. Previously, she was vice president of innovation and strategic growth platforms.
Since joining Hershey in 2005 Ms. Riggs has held a range of leadership positions as well as roles in brand marketing, shopper marketing, global marketing and sales.
Before joining Hershey, she worked as an engineer for Samsung Semiconductor in Austin, Texas.
“Riggs is a dynamic Hershey…
Slideshow: New products from the Winter Fancy Food Show
LAS VEGAS — The 2023 Winter Fancy Food Show saw more than 1,100 exhibitors showcase their newest products Jan. 15-17 in Las Vegas. The $175 billion specialty food industry homes in on consumers looking for premium products, often made in small batches.
This year, the Specialty Food Association’s Trendspotter Panel predicted an interest in bold and intense flavor experiences, specifically within the sauce and condiment categories.
“What began in the hot sauce category is exploding into honey, spreads, confections, beverages, and snacks, snagging new markets like younger consumers, especially, and inspiring specialty food companies to introduce heat and spice into…
Can SMBs Help Workers In Debt?
One unfortunate consequence of the pandemic was that many workers became indebted. Now, they have trouble making ends meet while also paying their debts. But the pandemic also spurred the rise of many new small and midsize businesses, which could be the perfect solution to the problem of worker debt.
Six in ten employees admit to being concerned about the amount of household debt they have, as well as the lack of opportunities in the workplace to rectify them.
Small and midsize businesses can play a vital role in solving workers’ debt problems, especially when SMBs open doors to many…
Electricity bills may continue to shock you even as overall inflation eases. Here’s why.
While price hikes for gas, furniture, electronics and clothes are slowing down after a long stretch of sharp gains, one costly item isn’t expected to get cheaper anytime soon: electricity.
Economists say consumers should expect their electric bills to continue rising at a fast pace as liquefied natural gas, a key fuel for generating electricity, remains in short supply in the US and companies’ operating costs rise. Average US electricity prices could rise at a 10% clip again this year and possibly next, predicts Mark Wolfe, director of the National Energy Assistance Directors Association, even though economists have forecast overall…
Delivering Search Personalization With (User) Intent
When it comes to online shopping, search personalization is more important today than ever before. If in 2019 about 60% of shoppers expected to get personalized search results, in 2020 that number increased to 80%. A recent McKinsey report shows that today’s customers don’t just prefer a personalized shopping experience — they demand it.
In 2023, relevance is the name of the game. Search personalization is the basis of positive brand perception, customer engagement and customer loyalty. Shoppers expect to only see relevant results. It’s no longer acceptable to respond to a given query by bombarding the user with generic…
Strong consumer interest seen in Mondelez snacking survey
CHICAGO — Rising costs and economic setbacks haven’t been enough to deter strong consumer interest in snacking, according to Mondelez International, Inc.’s fourth annual State of Snacking report. The report, released Jan. 16, analyzed global consumer snacking habits and decisions.
Overall, the report revealed a maintained interest in snacking that continues to increase. Like in the 2021 report, 64% of consumers continue to prioritize snacking throughout the day over standard mealtimes. Another continued trend is mindful snacking, but this year with an emphasis on environmental consciousness versus 2021’s concern with nutrition and functionality.
The annual State of Snacking report is…
