Food Roundup: China Milk Plea Denied, PepsiCo Can Keep its India Subsidiary, and More

China Dairy Head's Guilty Plea Denied New Zealand dairy giant Fonterra denied reports that the former head of it's Chinese partner pleaded guilty to the tainted-milk scandal. Tien Wenhua, former head of Sanlu Group, faces possible execution. [Source: New Zealand Herald]

India Allows PepsiCo Investment to Remain The company will no longer have to divest its ownership of its subsidiary, PepsiCo India Holdings. The federal Cabinet relaxed restrictions that had been imposed earlier. [Source: Times of India]

BusinessWeek: Is ADM Focusing too Much on Ethanol? The magazine notes that other businesses such as grain processing dwarf ADM's ethanol business. But ethanol is in trouble, and that's not good for the food-ingredient giant. [Source: BusinessWeek]

Report: UK Retail Prices Fall The Financial Times reported that retailers are slashing prices to snag spooked consumers. Discounters "are well and truly in vogue as their cut-price turkeys and cheap cashmere have been snapped up by cost-conscious shoppers," the newspaper reported. [Source: Financial Times]