Inside food & drink manufacturing
Premier Foods shares rose slightly this morning after an announcement that new ceo Michael Clarke will start work next week, as one City analyst warned that the firm's shares are currently "un-investable".
Tesco has expressed "surprise and dismay" at an Office of Fair Trading (OFT) ruling that it must pay £10.43m for allegedly colluding with other retailers and suppliers to fix cheese prices in 2002 to 2003.
Despite fears of sovereign downgrades and tumbling share prices, UK food and drink manufacturers increased their output by 0.5% in June 2011, but many are suffering pain from rising input prices.