Customer demand for Kraft's processed food products counties to drop.
The American food giant's stock dropped 27 per cent after reporting flat sales in 2018.
Kraft also confirmed that its accounting practices were being investigated.
Heinz's share price plummets to a record low
More from Business
-
Amazon in talks to invest in OpenAI
Amazon.com Inc is in discussions to invest in OpenAI, the developer of ChatGPT, in a potential deal that could value the artificial intelligence company at over $500 billion, a source familiar with the matter said on Tuesday.
-
DXB to welcome over 4.2 million guests over next two weeks
Dubai International Airport (DXB) is gearing up to accommodate a surge in travellers over the next two weeks, marking one of the busiest travel periods of the year.
-
UAE, India review strategic partnership during joint sessions in Abu Dhabi
The UAE and India have reviewed the progress of the Comprehensive Economic Partnership Agreement (CEPA) between the two countries that aim to advance bilateral trade towards a shared goal of $100 billion.
-
Mubadala, Barings launch $500 million global real estate debt partnership
Abu Dhabi-based Mubadala Investment Company and global investment manager Barings have announced the launch of a $500 million global real estate debt partnership.
-
UAE, Philippines agree on additional flight rights
The UAE and the Philippines have agreed to expand air services, clearing the way for UAE national carriers to operate additional flights to Manila.
News
-
UAE announces new cut-off age for KG, Grade 1 school admissionsStarting the 2026–2027 academic year, the cut-off age for admissions to Kindergarten and Grade 1 will shift to December 31, from the previous date of August 31.
-
UAE issues yellow alert as dusty conditions reduce visibilityMotorists have been advised to exercise caution on the road after UAE weather bureau issued a yellow dust alert and warned of visibility dropping to less than 2,000 metres in some parts.
-
Traffic diversions in Ras Al Khor for Dubai Metro Blue Line worksDubai’s Roads and Transport Authority (RTA) has advised motorists of new traffic diversions in Ras Al Khor as construction works continue for the Metro Blue Line project.
