In this week's news wrap up, we examine Treasury Wine Estate’s big announcement.
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Treasury Wine Estates to write down $260m
TWE announced that it will be writing off $260m from its fiscal 2014 full year profit.
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Lion offers some dairy farmers a milk price increase
Lion today has agreed to pay far North QLD, South East QLD and NSW dairy farmers more for their milk.
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Fonterra requests stall on Danone court case
Fonterra has requested that Danone’s claim for damages from the botulism scare in 2013 be delayed.
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Pom Wonderful can sue Coke over label
US juice maker Pom Wonderful, can sue Coca-Cola for labelling one of its drinks Pomegranate Blueberry, despite only containing just traces of those juices, the US Supreme Court has ruled.
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Smirnoff announces premium vodka – just for travellers
Smirnoff is releasing a super-premium vodka – Smirnoff White, which is available exclusively for travellers.
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Rogue Brewery founder dies at age 71
Jack Joyce, founder of Oregon’s Rogue Brewery has died at age 71.
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tna appoints a new regional sales manager for Australia
Global packaging solutions specialist, tna, has announced the appointment of Paul Irwin as regional sales manager for Australia.
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R&R buys Peters Ice Cream
French ice-cream giant R&R have bought Peters Ice Cream for an undisclosed amount.
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Wilmar and First Pacific raise bid for Goodman Fielder
In the bid for Goodman Fielder, Wilmar International and First Pacific have raised their 65 cents per share offer to 70-cents a share, provided major shareholders and the Goodman board pledge their support.
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Australia lags behind in innovation: NMW presentation
"Australia punches well below its weight when it comes to all facets of innovation," Lachlan Mullane of Hodgkinson McInnes said at National Manufacturing Week earlier this week.
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Mondelez launches new mobile marketing campaign
Mondelez International has launched a new mobile marketing initiative, where five big Australian brands are paired with five start-ups to accelerate and scale existing mobile innovations in 90 days.
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Pernod Ricard acquires US winery
Pernod Ricard has bought its first US winery, in a move the company says will boost sales of labels including Australian-made Jacob’s Creek.
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Woolworths has overtaken Coles in sales growth
Third quarter earnings for Woolworths rose 4.4 percent compared to the same period last year to a total of $10.38 billion, when Coles only had a 3.9 percent rise in food and liquor sales.
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Murray Goulburn proposes sliding scale cost for shares
Murray Goulburn may enforce a sliding scale cost for shares if it’s proposed capital raising plans go ahead.
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Goodman Fielder refused $1.27b takeover offer
Goodman Fielder has refused a $1.27 billion takeover offer from Singapore’s Wilmar International and First Pacific Company, arguing the offer is too low.
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Fonterra fined $280,000 after contamination scare
Dairy giant Fonterra has been fined $280,177 after last year’s botulism scare.
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Goodman Fielder profits drop
Manufacturer, marketer and distributor Goodman Fielder has issued a profit downgrade and warned the company is expecting write-downs in the second half.
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Chobani to sell minority stake
Popular US yoghurt brand, Chobani, is looking to sell a 20 percent minority share in its business which could see it valued at around $2.5 billion.
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AACo chief operating officer moves to rival company
Australian Agricultural Company Limited’s chief operating officer, Troy Setter, is leaving the company and taking on a position at rival firm, Consolidated Pastoral Company.
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