Business Briefs – July 19, 2017

Will a Sugar Deal With Mexico Affect U.S. Treat Prices?

NEW YORK (AP) – President Trump recently praised a new sugar deal with Mexico. But U.S. food makers say it will result in Americans paying even more for sugar than they already are. The issue highlights U.S. policies that have long rankled the makers of candy, cakes and other foods containing sugar. The sugar industry says food makers are just trying to sweeten their profits, not pass on savings from lower sugar prices to consumers.

Cigarette Consolidation: British American Wins Reynolds

RALEIGH, N.C. (AP) – The consolidation of Big Tobacco companies looking as much to nicotine replacements and e-cigarettes for revenues as traditional smokes continued with what will be the world’s largest publicly traded tobacco company. Shareholders approved British American Tobacco taking over Winston-Salem, North Carolina-based Reynolds American Inc. to form the world’s largest publicly traded tobacco company.

World’s Plastic Waste Could Bury Manhattan 2 Miles Deep

WASHINGTON (AP) – A new study finds that production of plastic is soaring. The study says since 1950, industry has made more than 9 billion tons of plastics. And three-quarters of that ends up as waste in landfills or the ocean. The study’s lead author says Earth is on its way to becoming a plastic planet. The research was published Wednesday in the journal Science Advances.

Spice Maker McCormick Buys Reckitt Unit for $4.2 Billion

LONDON (AP) – U.S. spice maker McCormick & Company has bought Reckitt Benckiser’s food business for $4.2 billion, in a deal it regards as a “perfect match” but that some investors think may be a bit too pricey. The Sparks, Maryland-based company fought off rival bidders to purchase the business that makes French’s mustard and Frank’s RedHot brands.