GFM Network News

Mars buying out Buffett stake in Wrigley

Reading Time: 2 minutes Reuters — The candy maker Mars Inc. on Thursday said it would take full control of its Wrigley chewing gum business, acquiring the minority stake held by Warren Buffett’s Berkshire Hathaway Inc. Mars plans to combine Wrigley with its chocolate business, putting M+Ms, Snickers, Skittles, Lifesavers, Starburst fruit chews, Doublemint and Extra gum and Altoids […] Read more

(Dave Bedard photo)

Spanish man charged with lying in PotashCorp trading probe

Reading Time: 2 minutes Reuters — A U.S. grand jury has charged a Spanish investor with lying to regulators probing insider trading ahead of an August 2010 hostile bid for PotashCorp, even though he had been cleared of charges over his own trading. An indictment announced on Friday by federal prosecutors in Chicago charged Luis Martin-Caro Sanchez, 42, of […] Read more

Former Montreal Alouettes quarterback Vince Ferragamo and wife Jodi converted a horse corral to a vineyard on their property in California’s Orange County to start their winery in 2010. (

Italy’s Ferragamo suing ex-Als QB over same-name winery

Reading Time: 2 minutes Reuters — Salvatore Ferragamo SpA, the Italian luxury goods maker, on Wednesday sued former Montreal Alouettes and Los Angeles Rams quarterback Vince Ferragamo, saying he infringed its trademarks by operating his namesake winery in southern California. Consumers are likely to be confused into thinking the Ferragamo Winery and Ferragamo SpA are related, the Italian company […] Read more

(Dave Bedard photo)

U.S. dairy group reaches milk price-fixing accord

Reading Time: 2 minutes Reuters — Dairy Farmers of America Inc. has agreed to pay US$50 million to settle a class-action lawsuit in which farmers in the northeastern U.S. accused the marketing co-operative of conspiring to drive down milk prices. Settlement papers were filed on Thursday with the federal court in Burlington, Vermont, and require approval by U.S. District […] Read more

(Dave Bedard photo)

MF Global officials settle lawsuit for US$64.5M

Reading Time: 2 minutes New York | Reuters — Jon Corzine and other former MF Global Holdings officials have reached a US$64.5 million settlement of litigation brought by investors seeking to hold them liable for the now-defunct futures brokerage’s 2011 bankruptcy. The all-cash settlement with Corzine, who was MF Global’s chief executive and previously New Jersey’s governor, and nine […] Read more

U.S. court upholds FDA animal feed policy despite health concern

Reading Time: 2 minutes Reuters — A divided federal appeals court on Thursday upheld a U.S. Food and Drug Administration policy allowing the use of various antibiotics in animal feed, even if such use might endanger the public health. Reversing a lower court ruling, the 2nd U.S. Circuit Court of Appeals in New York said the FDA was empowered […] Read more

U.S. packer suing ABC News over ‘pink slime’ reports

Reading Time: 3 minutes ABC News was hit with a US$1.2 billion defamation lawsuit Thursday by a South Dakota meat processor that accused it of misleading viewers into believing a product that critics have dubbed "pink slime" was unsafe. Beef Products Inc. (BPI) sued over ABC reports aired in March and April about the nation’s largest producer of "lean […] Read more