Euro: Downside risks with 1.1100 in sight against US Dollar – ING

Kraft Heinz launches “Kraft Mac & Cheese-Flavored Ramen.” “Our pace of innovation has not been fast enough,” said the North American President. CEO Steve Cahillane is working to revitalize the packaged food company. While Kraft Heinz shares are down this year, the company’s performance has outpaced its peers. Kraft Heinz is strongly supporting health trends such as high-protein and high-fiber lifestyles, investing heavily in marketing, and trying to make up for lost time in innovation, the company’s North American President told Reuters. Under CEO Steve Cahillane, who took over in January, the U.S. packaged food company has dropped plans to split its business in two and allocated $700 million this year for marketing and R&D to reverse years of declining market share. This year, the company launched the high-protein “PowerMac & Cheese” and added healthier variations to its portfolio, featuring lower sugar and salt with more protein and dietary fiber. Kraft Heinz is also venturing into new product categories: on Tuesday, it launched a cheese-flavored ramen in the U.S., aiming to meet American consumers’ rising demand for diverse flavors and convenience. “We are engaging more actively in different segments and disrupting certain categories,” Nico Amaya said in an interview, specifically mentioning the $2.7 billion ramen market, mostly led by small businesses. “Frankly, our pace of innovation has not been fast enough,” he added. “We have some excellent brands, but we haven’t invested in them in the past.” This year, marketing and R&D spending for brands like PowerMac increased by 35%, and Amaya stated Kraft Heinz will maintain this level of investment in the future. CEO Cahillane expects innovation projects to accelerate by 2027. Despite a roughly 10% decline in share price this year, Kraft Heinz’s performance has still outdone other U.S. packaged food companies like Conagra Brands, General Mills, and PepsiCo. Persistent inflation is pressuring household budgets, pushing consumers toward cheaper private-label alternatives; meanwhile, the rapid adoption of GLP-1 weight-loss drugs is forcing packaged food makers to adjust product formulations to satisfy demand for healthier foods. Kraft Heinz has already launched its cheese-flavored ramen in Canada. Amaya said the company also introduced smaller portion “PowerMac” cups and has reformulated more than 1,000 products, increasing protein and dietary fiber while reducing added sugar and fat. “The trend toward healthier products in many respects will be here for the long-term,” Amaya told Reuters. “And protein will become a vital part of everyone’s diet.” (Note: This Reuters report was automatically translated into several languages for convenience. Because automated translation may be inaccurate or lack proper context, Reuters does not guarantee the accuracy of automated translations and accepts no liability for any damages or losses that may result from their use.)

UK builders became more pessimistic in September. The PMI rose to an eight-month high of 46.1 but remains in contraction territory; weak orders and Middle East conflicts are causing companies to delay project decisions.

European Central Bank member Rehn stated that the energy shock in the Middle East has not yet affected prices and wages, but the longer the conflict lasts, the greater the risk of transmission; the central bank has already raised interest rates twice, and rates may be raised again.