TOP NEWS
* The U.S. Centers for Disease Control and Prevention urged people to stop using e-cigarette products until it can complete its ongoing investigation into pulmonary illnesses associated with the use of e-cigarette products. According to the CDC, at least two fatalities related to lung illness possibly linked to the use of e-cigarettes have been reported.
* Starbucks Corp. said it is investing in a series of employee-focused initiatives, including those related to mental health and wellness, as well as increasing customer-employee interactions, CNBC reported. The coffee giant also reportedly announced the upcoming opening of the world's largest Starbucks, which will be in Chicago, on Nov. 15.
FOOD RETAIL & DISTRIBUTION
* Amazon.com Inc. has started piloting pickup and return options for online purchases at select checkout-free Amazon Go stores in San Francisco and New York, Business Insider reported, citing an Amazon spokesperson.
* Seven & i Holdings Co. Ltd. unit Seven-Eleven Japan Co. Ltd. has partnered with e-commerce company Rakuten Inc. to launch app payment service Rakuten Pay across its 21,034 convenience stores in Japan, starting Oct. 1.
* Koninklijke Ahold Delhaize NV CFO Jeffrey Carr has decided not to stand for reelection when his term expires in April 2020. The Dutch grocer said it has initiated the search for Carr's successor.
* Food retailer Albertsons Cos. Inc. said in a tweet that it would ask customers to not carry firearms openly in its stores unless they are authorized law enforcement officers. The move follows retailers, like Walmart Inc., CVS Health Corp. and Kroger Co., that changed their gun-related policies.
* Amazon.com's U.K. unit rolled out an on-demand delivery option under its AmazonFresh banner. Prime subscription members who have a minimum order of £40 will be charged £2.99 per delivery or they can opt to pay a monthly subscription fee of £3.99.
* California-based boutique confectioner Sugarfina Inc. has filed for Chapter 11 bankruptcy protection in a U.S. court, seeking to sell its business, The Wall Street Journal reported, citing a court filing. The company will reportedly close six of its more than 24 candy shops immediately.
* Australian retailer Woolworths Group Ltd. has launched its first circular economy craft beer, called Loafer. New South Wales-based Tribe Breweries will make the limited-edition beverage for the retailer from its supermarkets' leftover loaves of bread.
BEVERAGES
* Starbucks Corp.'s former CEO Howard Schultz said he will not run for president of the U.S. in 2020, citing health issues and lack of support for an independent candidate. In a letter posted on his campaign website, Schultz added that "not enough people today are willing to consider backing an independent candidate because they fear doing so might lead to re-electing a uniquely dangerous incumbent president."
* Coca-Cola Amatil Ltd., Coca-Cola Co.'s Australian bottler, reorganized its nonalcohol, alcohol and coffee categories across New Zealand and Australia, as it completes a two-year transition phase by 2019-end and targets a return to mid-single-digit EPS growth from 2020. The company added that its coffee portfolio in Indonesia will be part of its Indonesian business. Group Managing Director Alison Watkins said the company aims to grow its business through the integration of the three beverage categories.
* Molson Coors Brewing Co. subsidiary MillerCoors LLC plans to launch its Coors Edge nonalcoholic beer in November across the U.S., in a bid to adapt to changing consumer preferences for low- and no-alcohol beverages.
PACKAGED FOODS
* Conagra Brands Inc. is recalling approximately 2,200 cases of hamburger buns over the possible presence of small pieces of white plastic that may have been included during production.
* British packaged food company Tate & Lyle PLC said its food and beverage segment in North America will increase prices by up to 12% on specialty food starches, fibers, specialty and high intensity sweeteners, and stabilization and functional systems, beginning Oct. 1. The company said the hike follows an increase in production costs of the affected products.
* Pennsylvania-based dairy company Dean Foods Co. said it completed its review of strategic alternatives, including a sale, and its board decided to go ahead with the execution of its stand-alone operating plan under the leadership of its new CEO Eric Beringause. Dean Foods will provide more details of its strategy along with the announcement of third-quarter results in early November.
* Breakfast-cereal maker Kellogg Co.is closing its Geneva office as part of its plan to streamline its European operations, Just Food reported, citing a company spokesperson. The spokesperson reportedly added that it will boost its e-commerce investment and create a centralized European hub at its existing Dublin facility.
*Associated British Foods PLC maintained its full-year outlook, adding that adjusted EPS is expected to be in line with last year. The retailer and food processor said profit from its grocery business would likely offset anticipated decline in its sugar segment. The London-listed company said it expects grocery revenue to be ahead of last year with adjusted operating profit well ahead.
* Plant-based food producer Impossible Foods Inc. said China is its "highest priority" for future expansion, after launching its products in Hong Kong and Macau, Reuters reported, citing CEO Pat O'Brown.
* Plant-based-meat producer Beyond Meat Inc. was assigned a sell rating by D.A. Davidson senior research analyst Brian Holland, adding that the plant-based meat industry could end up smaller than the plant-based milk industry, CNBC reported. Holland reportedly targeted Beyond Meat's stock at $130, compared to its Sept. 5 closing price of $160.97 per share.
RESTAURANTS
* Yum China Holdings Inc. said CFO Jacky Lo will step down from his post, effective Oct. 16, to pursue professional opportunities in Hong Kong to be closer to his family. Lo will be replaced by Ka Wai Andy Yeung at the Yum! Brands Inc. unit.
INDUSTRY NEWS
* China's National Development and Reform Commission said it will provide subsidies of up to 5 million yuan by the end of 2020 to support the construction of large-scale pig farms after African swine fever severely affected the hog industry, Reuters reported, citing a statement from the state planner.
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The day ahead
Early morning futures indicators pointed to a higher opening for the U.S. market.
In Asia, the Hang Seng slipped 0.04% to 26,681.40, while the Nikkei 225 inched up 0.56% to 21,318.42.
In Europe, around midday, the FTSE 100 shed 0.57% to 7,240.79, and the Euronext 100 lost 0.06% to 1,081.84.
On the macro front
The TD Ameritrade IMX and Consumer Credit consensus are due out today.
Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.
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