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Florida woman Amanda Ramirez is suing Kraft Heinz Foods Company after her cup of microwavable macaroni and cheese took longer than 3.5 minutes to be fully ready for consumption. snip In a class-action lawsuit filed on Nov. 18 in the U.S. District Court in Miami, Ramirez accuses Kraft Heinz of false advertising because her 2.39 ounce cup of Velveeta Shells & Cheese was not "ready in 3½ minutes" as its packaging claimed it would be, the South Florida Sun-Sentinel reported. The crux of the complaint is that customers are falsely led to believe the product will be ready for consumption...

Unilever PLC said it will stop its advertising and media spending in Russia, as well as suspending all imports and exports of its products into and out of the country. “We will not invest any further capital into the country nor will we profit from our presence in Russia,” Chief Executive Alan Jope said in a statement. The company doesn’t break out its earnings in the region. Kraft Heinz Co. separately said it is suspending all new investments in Russia, as well as all exports and imports of Kraft Heinz products into and out of Russia. Kraft Heinz sells ketchup...

As some on Wall Street warn that the Fed remains dangerously behind the inflation curve (a fear that was given voice yesterday when Fed Chairman Jerome Powell’s comments on inflation during the post-FOMC press conference appeared to send stocks spiraling lower), one of America’s biggest makers of food and consumer goods has warned that more price hikes are coming. To wit, Kraft-Heinz (in which Warren Buffett’s Berkshire Hathaway owns a big stake) said in a letter to customers that it will raise prices in March on dozens of its most popular products. The hikes will affect brands including Oscar Mayer...

The Federal Trade Commission said Monday that it is investigating the causes behind ongoing supply chain disruptions and how they are "causing serious and ongoing hardships for consumers and harming competition in the U.S. economy." The FTC said it is ordering Walmart, Amazon, Kroger, other large wholesalers and suppliers including Procter & Gamble Co., Tyson Foods and Kraft Heinz Co. “to turn over information to help study causes of empty shelves and sky-high prices.”

The stock price of Kraft Heinz plunged 20% late Thursday after the food giant disclosed it received a subpoena from the Securities and Exchange Commission and reported a large net loss due to the reduction of goodwill in some of its best-known brands. Kraft Heinz also said in a conference call discussing earnings that it cut its quarterly dividend to 40 cents a share from 62.5 cents and that it was considering selling off some of its businesses to help pay down debt. The company reported $30.9 billion in long-term debt at the end of 2018, up from $28.3 billion...

David Knopf has been appointed chief financial officer at Kraft Heinz at the age of 29. According to Fortune, Knopf is Kraft Heinz's youngest ever CFO. He will be replacing 42-year-old Paulo Basilio, who will stay on at the company as president of U.S. business.

Kraft Heinz announced Wednesday that it will move Oscar Mayer and the company's U.S. meats business from Madison, Wis., to Chicago — a move that will add 250 jobs to Chicago's Aon Center. The company also announced plans to consolidate its production facilities during the next two years, which will result in the shutdown of seven North American manufacturing facilities: Fullerton, Calif.; San Leandro, Calif.; Federalsburg, Md.; St. Mary's, Canada; Campbell, N.Y.; Lehigh Valley, Pa., and the one in Madison. The closings will result in the loss of about 2,600 manufacturing jobs at the company, including 700 in Madison. About...