The weakening of the U.S. dollar and other currencies has led farmers around the world to value their crops more highly than they do money, said Dan Basse, president of agricultural research firm AgResource Co.
The recession has hit U.S. consumers, yet Reckitt Benckiser has not felt as much of a pinch. The maker of Lysol disinfectants and Air Wick air fresheners said shoppers did not shy away from its products even as the overall household products industry felt the impact of pantry destocking, or consumers using up what they had at home rather than buying more products.
Rob De Groot, head of the group’s North America and Australia region, told the Reuters Food and Agriculture Summit in Chicago that he did not see a massive consumer destocking. Click here to hear his comments.
from LEGACY Reuters Summits:
This week we've got a double dose of stories for you with both the Food Summit taking place in Chicago and the Funds Summit kicking off Tuesday in Luxembourg. Both summits come at a time when both sectors are in the spotlight. For food, one key question will be: How will cash-strapped consumers spend their hard earned cash if the current economic environment continues to deteriorate. We spent last week putting together a few stories ahead of the Food and Agriculture Summit.
Kinross Gold’s CEO Tye Burt said at the Reuters Global Mining and Steel Summit on Wednesday that as far as mergers and acquisitions go, his company is in a pretty good place — there are more deals hitting his desk, sellers are getting more motivated and Kinross, the third-largest of the Canadian gold miners, has the cash to do a little shopping.
The state of the airline industry and travel overall is not poised for a rapid takeoff in 2009 and looks like it will remain in rough shape until next year, said Pierre-Henri Gourgeon, chief executive of Air France-KLM, on Monday at the Reuters Travel and Leisure Summit.
from Ruben Ramirez:
Norfolk Southern says it is working hard to reduce the rail operator's carbon footprint. CEO Wick Moorman says the company is in the midst of a 2-year, $10 million project to change the lighting in it's facilities...he says he's even changed the lightbulbs in his office. Click here to listen to how much money Norfolk is saving and what else it's doing to be more "green."
Wick from Tony Johansson on Vimeo.