Switzerland's largest food company Nestle admitted the fact that the largest part of its products cannot be labeled as healthy and several products can never be considered so. The admission is contained in an internal presentation of the company. According to the FT, the paper was prepared and was distributed to the company's top managers at the beginning of the year. Just 37% of...

The European Commission has given the Chinese service TikTok a month to respond to numerous consumer complaints that the service does not protect children from hidden advertising and inappropriate content. According to a statement from Justice and Rule of Law Commissioner Didier Reynders, the EU has started a formal dialogue with national consumer protection organisations to "help TikTok comply...

The European Airbus group said that it expects the commercial aircraft market to gradually recover to pre-pandemic levels between 2023 and 2025. The company sees the narrow-body airliner segment as the driver of the recovery. "The civil aviation market is beginning to gradually recover to the levels seen before the COVID-19 pandemic," said Airbus CEO Guillaume Faury, "so we want to give our...

HSBC, the second-largest bank in Europe and the sixth-largest in the world by assets ($2.9 trillion), announced yesterday that it is leaving "mainstream" retail banking in the US. HSBC USA has total assets of $204bn and serves 2.4m customers in the US, including retail, corporate and affluent. The bank said it will sell 90 of its 148 total retail branches in the US, close 35-40 and leave only...

Chinese technology corporation Xiaomi has presented data on financial results in the first quarter of this year. As follows from these data, the corporation's net profit for the reporting period amounted to 6.07 billion yuan ($949 million), which is higher than experts' expectations. Experts of Bloomberg forecasted net profit in the amount of 5.3 billion yuan. Compared with last year's figures,...

Climate activists have won a landmark court victory over Anglo-Dutch Shell, effectively forcing the company to accelerate its plans to cut carbon emissions and reduce them by 45% as early as 2030. On May 26 a Dutch court ordered Shell, one of the largest oil and gas companies and the largest trader of oil and gas in the world, to accelerate its plans to cut emissions. According to the court...

The German Federal Antitrust Authority has announced the launch of two investigations into Google. The agency is probing the company's possible abuse of its dominant position in several related markets as well as its terms of service for user data. The investigations include Google's German and Irish divisions, as well as its parent corporation Alphabet. The agency said that the first...

US energy companies Cabot Oil & Gas and Cimarex Energy, which specialise in shale oil and gas production, announced a merger. It is a "merger of equals". Cimarex shareholders will receive four Cabot shares for each of their shares, so they will hold 50.5% of the combined company and Cabot shareholders will hold 49.5%. The market capitalisation of the combined company, based on the share price...

The UK Competition and Markets Authority (CMA) has given final approval for the merger of UK telecoms operators Virgin Media and O2. The merger was announced a year ago by their parent companies, the Anglo-American Liberty Global and the Spanish Telefonica. The deal was negotiated over five months and will result in the creation of the UK's largest integrated telecommunications company providing...