Kellogg said yesterday (29 July) that it saw net earnings decline 15% in the second quarter of 2010 due to the competition in the US cereals business and the impact of a product recall last month. The US cereals giant booked net income of US$302m for the three months to 3 July, down 15% on the year. The company said “weakness” in the North American cereal category, lower sales of Eggo waffles and the voluntary recall of select packages of breakfast cereals in June had hit earnings. Operating... ...Read more »