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The Shanghai Food and Drug Administration reveals that eight of the 19 batches of chicken samples that Yum Brands (NYSE:YUM) sent for testing in the years 2010 and 2011 contained excessive levels of antibiotics. The SFDA is probing whether YUM took corrective steps based on those findings and is likely to face penalties in case the investigation shows it broke the laws.
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Online video service Hulu has reportedly asked its owners Comcast Corp (NASDAQ:CMCSA) and News Corp (NASDAQ:NWSA) for $200 million to purchase content and for expanding overseas.Hulu has been unprofitable over its five-year old existence and News Corp would like the video service to be purely subscription-based, whereas Disney is in favour of a free and ad-supported strategy. The request for financing may force the owners to decide on a strategy for the company before additional funds are committed.
Starbucks (NASDAQ:SBUX) now offers an additional evening menu after 4 PM that features wine, beer and appetisers. Wines include malbec, prosecco and pinot grigio. Items like warmed rosemary and brown sugar cashews, bacon-wrapped dates, truffle macaroni and cheese and chocolate fondue figure on this menu which is being offered at 16 stores in the areas of Seattle, Atlanta, Los Angeles and Portland, Ore.
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