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Reuters reports that Kraft Foods' board of directors have formally approved the October 1spinoff of its North American grocery business, which will continue tom operate under the Kraft Foods Group name. The global snacks business, as previously reported, will be renamed Mondelez International.

• The Chicago Sun Times reports that Moo & Oink, the iconic Chicago meat purveyor that went into bankruptcy last year, is back with a new corporate brand chef and some new products in the pipeline.

Mychael Bonner, who also is a partner and executive chef at four Lettuce Entertain You restaurants, reportedly is developing new products for the brand, including a dry rub. Moo & Oink was bought out of bankruptcy last December by Best Chicago Meat LLC.

Good to see Moo & Oink back. The world is better off - not to mention tastier - when such brands are not relegated to the scrapheap. reports that "rating agency Fitch is concerned about the risks of multiemployer pension plans (MEPP) to participating companies’ solvency, and has calculated the nine firms most exposed to these typically 'significantly underfunded' plans."

The firms on the list include Safeway, Supervalu, Kroger, Dean Foods, Rite Aid, and Del Monte.

According to the story, "With multiemployer pension plans, participating companies and their employees bear the risk of investment losses despite having limited control over plan administration and investment decisions. Fitch’s report further noted that 'when a participating employer files for Chapter 11 or liquidates, that employer’s share of the funding shortfall would land on the remaining employers in the plan to the extent it is not recovered in the courts'."

Reuters reports that "French retailer Auchan has signed a franchise agreement with India's Max Hypermarket to enter the country with its retail operations ... Max, which is run by Dubai-based Landmark Group, operates 13 hypermarkets in India. These stores will be rebranded 'Auchan' in the fourth quarter of the current fiscal year ending March 2013," and the companies plan to open a dozen or more new stores under the banner in India each year.
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