Venezuela's president, Hugo Chávez has approved a payment plan of US$690m to acquire the majority stake in Cativen, a Casino subsidiary.

Sales of private label products in Spain have risen 5.6% to reach 41% during July as consumers feel the pinch from the country's deep recession.

Campbell Soup Company said that in fiscal 2011 it plans to "fire up" its condensed soup range to benefit both cooking soups and eating soups despite a continued "challenging" landscape.

The spotlight was on manufacturers this week as Heinz, Kerry Group and Del Monte all posted positive numbers.

The Co-operative Group has seen a fall in like-for-like food sales in its first half of 2010. However, the group also reported a rise in total sales and a 17% rise in underlying pre-tax profits.