Latest news with #JohnMurphy
Yahoo
27 minutes ago
- Business
- Yahoo
Coca-Cola CFO says the company will launch Trump-backed cane sugar soda: ‘He is a big supporter of the option'
is launching a cane sugar version of its flagship soda in the U.S., with CFO John Murphy confirming to Fortune that President Trump has endorsed the initiative that has been in development for 12-18 months. The move comes as the beverage giant works to address recent sales challenges in America, including lingering effects from a viral misinformation campaign and affordability pressures on lower-income consumers. Coca-Cola is moving forward with plans to launch a cane sugar version of its flagship soda in the U.S. market, with chief financial officer John Murphy confirming that President Donald Trump has endorsed the initiative following his recent social media claims. In an interview with Fortune, Murphy said the cane sugar variant 'has been in our pipeline for some time' and typically requires 12-18 months from development to launch. 'He is a big supporter of the option,' Murphy said of Trump. 'He has heard about it and is a big fan of the option. It's certainly been well reported.' Pressed for specifics on whether the cane sugar Coke will channel the 'Mexican Coke' model—popular in the U.S. for its glass bottles and distinctive taste—Murphy said: 'I think for commercial reasons, I'm going to wait until the U.S. team is ready to divulge all the details, so more to come on that in a couple weeks.' Murphy emphasized that expanding product options reflects broader market demand: 'Here in the U.S. there is just so much demand for variants and new options on both existing and the new. This [Coke made with cane sugar] is an option for the Coke portfolio and one we're excited about.' Fake viral TikTok video hit Coke sales The announcement comes as Coca-Cola navigates a challenging market environment. Coke reported second quarter results for 2025 on Tuesday, showing modest revenue growth driven by pricing and mix, significantly higher operating income and margins, and strong brand engagement despite a small global volume decline. Murphy attributed recent softness in U.S. and Latin America sales to two primary factors: lingering effects from a viral misinformation campaign and pressure on lower-income consumers. A false TikTok video that circulated in February claimed the company was collaborating with the Department of Homeland Security on deportations of Hispanics from the U.S. to Mexico. 'It was clearly false, but it went viral and for a period of six weeks or so, it had a significant short-term impact on the business in Texas, California, and in Mexico,' Murphy explained. The company has been recovering from that incident, but Murphy noted that affordability remains a challenge for lower-income consumers. 'While the U.S. consumer has been reported overall as resilient, there is a segment of the population, the lower income segment, that is under pressure given the cumulative impact of price increases on their household basket over the last two to three years,' he said. Coke pushing into AI The company is also accelerating its use of artificial intelligence across operations. 'AI is here, we see it positively impacting our end-to-end business,' Murphy said, noting applications in supply chain, innovation, marketing and finance. 'We're in the early stages of AI being part and parcel of how companies will operate to raise the overall performance bar.' The secret to working for 37 years at Coca-Cola Murphy, who is approaching his 37th anniversary with Coca-Cola next week, credited his longevity to two principles established by former longtime Chairman and CEO Robert Woodruff. Quoting Woodruff's philosophy, he said: 'One, which is very relevant to today's work, is that the world belongs to the discontented. So I think staying curious and, to some degree, unhappy with wherever you are is a great motivator to do more. 'And the second, which is maybe my favourite quote of his; there's no limit to what a person can do if they don't mind who gets the credit. I think it's a wonderful piece of advice for anybody, whether it's year one or year 37, to take on board, and if you live your life against those two quotes, I think you can survive just about anywhere.' This story was originally featured on
CBS News
38 minutes ago
- CBS News
Inver Grove Heights' historic Rock Island Swing Bridge gets illuminating upgrade
An historic rail bridge built in the late 1890s is getting new life in one Minnesota community. Scenic views of the Mississippi River can still be found where horse-drawn wagons, trains and cars once traveled over "America's River" between Inver Grove Heights and St. Paul Park. "It's super important to us," said Adam Lares, Inver Grove Heights' park and recreation director. "This is part of our history and one of our foundations of our city." That history began with construction of the double-decker Rock Island Swing Bridge in 1894. The local legend is that notorious gangster John Dillinger crossed the bridge in a stolen car following a shootout with Dakota County authorities in the mid-1930s. The bridge closed to rail traffic in 1980 and road traffic in 1999. Today, it is a pier spanning 680 feet over the river where old meets new — thanks to an illuminating idea. "The first time I heard about it was from one of our council members, Councilmember John Murphy. He's like, 'Hey, it'd be great idea if we could kind of draw some more attention to our community, utilize our history and put some lights on that bridge,'" Lares said. New life and light were added to the bridge in the form of 28,000 color-changing LEDs in June. The half-million-dollar upgrade got a big boost from the state, and the city chipped in, too. The nightly light shows are bringing new visitors, and brightening memories for longtime locals. "When I was a kid, went over that on a toll. I walked across that bridge. My grandpa, my grandma worked on that bridge, so it just really flooded a lot of history back," Lares said. The city is already getting requests for color combinations and other light show suggestions. They are currently working on a lighting policy. "I hope one day we will see it purple and gold for the Vikings when they win the Super Bowl," Lares said. The unique light show starts every 15 minutes from 7 p.m. to 10 p.m. every night through the summer.
Yahoo
8 hours ago
- Business
- Yahoo
The protein boom is only beginning: Morning Brief
They're cramming it into everything now. It's in pancakes and pasta, chips and cereal. Plant-based or harvested from the farm, it's the macro(nutrient) of the moment. And slices of corporate America are not so subtly asking: Have you met your protein goal today? Protein Doritos sounds like the ideal mashup for the gym rat snack fiends of the world. But it's not as farfetched a product as you might think. Pepsi (PEP) plans to unveil new protein offerings for some of its Frito-Lay and Quaker brands, part of a broader shift to enhance their products and strip away artificial flavors and colors. (But what is a tasty Cheeto if not a brazenly synthetic delight?) Pepsi's intended relaunch and extension of popular brands is a reaction to a consumer base on the hunt for healthier, cleaner options. Executives across the food and beverage world see a potential crisis unfolding. As demand for legacy products wavers, companies are reaching for new lines (like fiber, prebiotics, hydration, energy, and protein) to support the core business. Sign up for the Yahoo Finance Morning Brief By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy "Protein is clearly a subsegment in our food and beverages categories that is growing fast," said PepsiCo CEO Ramon Laguarta on an earnings call last week. "Consumers are adopting protein solutions in the diet at a pace that was not the case a few months back, a few years back." Coca-Cola (KO), which reported on Tuesday, is undergoing its own notable evolution. Earlier this year, the company came out with a prebiotic soda brand, Simply Pop, an answer to the initial success of soda alternatives like Olipop and Poppi. Coca-Cola's Fairlife line of lactose-free, ultra-filtered milk and protein shakes (a fitness influencer staple) is touting double-digit volume growth. Coke CFO John Murphy told my colleague Brooke DiPalma that protein is another representation of consumers looking for products that help them in their daily lives, have fewer calories, or are perceived as healthier. Coca-Cola also confirmed it'll offer a Coke variant sweetened with US cane sugar this fall. A confluence of factors has amped up the recommendations and ability to up your protein intake. Strength training is having a moment, in a sort of vindication of gym bro fitness culture but also an expansion and reimagining of it. More young people, older people, and women are skipping (or supplementing) the treadmill and stationary bike and heading to the weight rack. Big, commercial gyms are swapping out cardio machines to make space for pumping iron. Planet Fitness (PLNT) announced plans at the start of the year to install new plate-loaded strength equipment — like bench presses and hack squats — into all of its more than 2,700 clubs by the end of 2025. Logically, protein follows to help realize the gains. Social media reflects and amplifies these trends. Popular influencers, like some of their Hollywood counterparts, are sporting more muscular physiques: wider backs, denser arms, and thicker legs. And they're touting the advantages of higher protein consumption as a method to change the way people look and feel. You have to eat more protein, they proclaim, to grow a dump truck. The opposite is true too: You generally need to actually train to put protein to work — and we may all be going overboard. Otherwise, you're just eating protein aspirationally. The explosion of GLP-1 weight-loss drugs from Eli Lilly (LLY) and Novo Nordisk (NVO) is another reason why consumers are seeing more protein-enriched foods on grocery aisles. As appetite-suppressed Ozempic and Wegovy users eat less and drop pounds, it isn't just body fat they're shedding. People in a calorie deficit generally lose fat and muscle, so healthcare providers advise patients to eat more protein to help preserve their muscle mass. And as a diet trend, the pro-protein movement is also just that, "pro" something, instead of the carb villainization of Atkins of the 2000s or low-fat of the 90s and before. For food and snack companies, it's an opportunity to capitalize on that turbocharged demand by providing something that's acceptable to eat, tackling health through consumption instead of austerity. So far, the market is gobbling it up. Hamza Shaban is a reporter for Yahoo Finance covering markets and the economy. Follow Hamza on X @hshaban. Click here for in-depth analysis of the latest stock market news and events moving stock prices
Irish Examiner
6 days ago
- Business
- Irish Examiner
Tirlán turns sod on solar farm to power largest production facility
Tirlán has commenced work on a major renewable energy project at its multi-purpose integrated dairy processing facility in Ballyragget, Co Kilkenny. The 6.5ha, 8MWp ground-mounted solar farm is being delivered in partnership with ESB's Smart Energy Services and is expected to be completed in early 2026. It will reduce the site's carbon footprint and its reliance on grid electricity. The solar farm will be a 'behind-the-meter' self-generation project, meaning all energy produced will be consumed directly at the Ballyragget facility. Once operational, it will supply about 7.6GWh of clean renewable energy annually, meeting 34% of the site's imported electricity needs. That is the equivalent of powering more than 1,700 households with electricity for a year. Tirlán chairperson John Murphy said the investment marked a "key milestone" in the company's journey to further decarbonise its operations and strengthen its energy resilience at its largest processing site. 'It builds on the success of solar installations at our Kilkenny Soup Plant and Tirlán CountryLife Castlecomer retail branch and reflects our commitment to a more sustainable energy mix. "In addition, there has been a strong uptake of 'turn-key' solar packages on-farm to help suppliers reduce both their carbon emissions and cost through our FarmGen programme," Mr Murphy said. The solar array will consist of 12,816 photovoltaic panels and 32 inverters, and is expected to reduce the carbon footprint by 2,100t of CO₂ annually — equivalent to removing 450 diesel cars from Irish roads or planting 94,000 evergreen trees. Over its 25-year lifespan, the project will avoid about 50,000t of CO₂. 'We're proud to partner with Tirlán on this landmark solar project, which demonstrates the power of collaboration in accelerating progress toward net zero,' said Ciaran Gallagher, ESB's head of Smart Energy Services. By enabling projects like this solar farm in Ballyragget to generate clean electricity, we're helping to reduce emissions and enhance energy resilience at scale. This project is a shining example of how Irish industry can lead the way in renewable energy innovation. Tirlán's chief ESG officer Lisa Koep said Tirlán was continuing to actively explore other renewable electricity options for its facilities as part of its wider Living Proof sustainability strategy and as part of its commitment to helping Ireland decarbonise. Tirlán's Ballyragget processing facility is one of the largest multi-purpose integrated dairy plants in Europe. The site employs more than 360 people, processing up to 1.2bn litres of milk, 1.3bn litres of whey and up to 200 million litres of cream annually. More than €180m has been invested during the last decade in developing and enhancing the site, which has been operational for more than 50 years.
Yahoo
6 days ago
- Business
- Yahoo
Coca-Cola says it appreciates Trump's 'enthusiasm' after president says company will use real sugar in drinks
Coca-Cola (KO) appears set to be the latest food and beverage company to make ingredient changes under the Trump administration. On Wednesday, President Trump took to social media, saying 'I have been speaking to Coca-Cola about using REAL Cane Sugar in Coke in the United States, and they have agreed to do so.' In a statement posted online, Coca-Cola said, 'We appreciate President Trump's enthusiasm for our iconic Coca‑Cola brand. More details on new innovative offerings within our Coca‑Cola product range will be shared soon.' The company is set to report quarterly earnings on July 22. Shares of the company were little-changed early Thursday. Asked about "general health and wellness considerations" at a recent conference, Coke CFO John Murphy said, "It's one that we've wrestled with. We've at times embraced and at times, not done a great job, honestly, over our long history." Currency, Coca-Cola uses high fructose corn syrup (HFCS) — a cheaper alternative to sugar — to sweeten its soda. Coca-Cola and PepsiCo (PEP) are the largest buyers of the sugar replicant in the country, tying HFCS producers' fortunes closely to the two beverage makers' production lines. Archer-Daniels-Midland (ADM), one of the country's leading HFCS providers, fell more than 2.7% in pre-market trading. Shares in Ingredion (INGR), another leading corn syrup supplier, fell more than 5% early Thursday. The sugar market, on the other hand, has reacted positively to the pronouncement as it eyes what would likely be a major contract from the seller of the most popular soft drink in the world. The contract price on Sugar No. 11, the global benchmark futures contract for raw sugar trading, was up more than 1.3% on the news. The Teucrium Sugar Fund (CANE), a commodities-focused ETF that is intended to provide investors with exposure to sugar futures, was up more than 1% early Thursday. Seaboard Corporation (SEB) and Bunge Global SA (Q23.F), two of the country's major sugar importers and producers, remained relatively flat Thursday morning, up less than 1% and down less than 1%, respectively. The move from the Trump administration also comes as the president continues his tariff negotiations. Brazil, which produces a little less than a quarter the world's sugar cane, making it the top global producer, is currently facing a 50% tariff on goods from the country to the US starting in August. The US has not yet announced a tariff rate for India, the second largest producer. China, the third largest sugar producer, currently has a 30% tariff in place. Coca-Cola appears set to join a growing list of big food peers to announce ingredient changes, including Kraft Heinz (KHC), General Mills (GIS), and Nestlé USA, among others. On Thursday morning, Coca-Cola rival PepsiCo (PEP) was asked about cleaner ingredients on its quarterly earnings call. "We have road map to eliminate artificial colors and artificial flavors from our beverages the same as we do for our food business," CEO Ramon Laguarta said, "we'll be able to execute as the regulations evolve, or consumer preference evolve." PepsiCo stock was up as much as 5% after the company reported results that topped forecasts. Brooke DiPalma is a senior reporter for Yahoo Finance. Follow her on X at @BrookeDiPalma or email her at bdipalma@ Jake Conley is a breaking news reporter covering US equities for Yahoo Finance. Follow him on X at @byjakeconley or email him at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
