The world’s largest food companies are failing to meet ethical standards, a report has warned.

SIPTU will meet with Glanbia management today to discuss the company's plan to close its plant in Inch, Co Wexford.

Glanbia has reached agreement to sell the Yoplait Ireland yoghurt business for €18m, but the move is set to result in the loss of 50 manufacturing jobs.

YOUNG farmers will be among the thousands of Irish people drawn to an Australian recruitment drive in Dublin this week.

A bowl of breakfast cereal is better at aiding recovery after exercise than expensive sports drinks, it was claimed today.

The Enterprise Ireland open innovation in the food industry seminar took place in Cork yesterday.

Wall Street had a renewed case of interest rate anxiety today, with stocks falling on strong US economic news and a jump in oil prices that heightened worries about inflation.

GUINNESS maker and world’s biggest alcoholic drinks group Diageo Plc will report slightly lower annual profits next week. But the company is gearing up for 2006 growth led by price rises and cost cutting, analysts said on Friday.

Diageo has raised $2.26bn (€1.84bn) from the sale of 49.9 million shares of common stock held in US-based Cheerios cereal maker General Mills.

Bargain hunters kept Wall Street mixed today, allowing blue chips to rise despite a new record high for oil prices. But fresh warnings from semiconductor firms sent the tech sector falling, and the three major indexes ended the week substantially lower.

US stocks soared today as investors welcomed strong earnings from financial services companies, upbeat economic data and some reassuring news from the Federal Reserve.

DIAGEO spent close to €75 million closing its Guinness brewery in London and shifting capacity to St James Gate in Dublin, it emerged last night.

Wall Street looked past an underwhelming statement by the Federal Reserve today and rebounded smartly as bargain hunters picked up stocks battered by a week of heavy losses.

Investor uncertainty pushed stocks lower on Wall Street today in volatile trading, with networker Cisco Systems’ tentative spending outlook hitting technology shares hard.

Fast-food giant Burger King was sold at the second time of asking today after its British owner agreed a cut-price deal.

Diageo is reported to be in advanced talks to sell fast food giant Burger King for more than £1.3 billion.

A change in business strategy at Tyco and lacklustre earnings at other companies stymied Wall Street today and left stocks barely changed following some wide price swings.

Diageo has gained approval for its £5.7bn purchase of Seagram's wine and spirits business.

US blue chips fell today after the Federal Reserve delivered a smaller interest rate cut than Wall Street wanted.

The Walt Disney Corporation is reportedly planning to announce it has signed Tiger Woods to serve as a spokesman for the company.

The UK Stock exchange will be kept busy next week, with a host of companies set to report results.