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British telecom giant Vodafone has won a landmark case as it has been found not liable for back taxes and penalties of up to £2.85bn by the Indian Supreme Court. The ruling removes considerable uncertainty for foreign firms investing in India. The decision will also be a major relief to international investors who had concerns [...]
(Read More)5th Aug 11
Kraft to split into confectionary and grocery businesses
by Harry Oldfield
Kraft has opted to split up “North American groceries” and “global snacks and confectionary” creating a dramatic u-turn in strategy only 18 months after acquiring Cadbury in a deal worth £11.6bn. The $64bn (£39.2bn) firm now believes investors do not care much for mixing low-but-steady grocery sales in the US with racier worldwide confectionary brands such [...]
(Read More)16th Mar 11
MPs furious with Kraft boss
by Katie Naylor
A number of MPs have voiced their anger after Kraft boss Irene Rosenfeld again failed to face them to answer questions about the US processed-food giant’s controversial takeover of Cadbury. Instead of the company’s chairman and chief executive, parliament was faced with a group of lesser executives bearing a letter which described the deal as [...]
(Read More)19th Jan 11
Graduate jobs will go to those with work experience
by Harry Oldfield
A poll has shown that one third of graduate jobs will go to those who already have work experience. The poll was taken of 100 recruiters and showed that one third of jobs would go to employees who already had experience working for their employer as an undergraduate. The poll therefore served to underline the [...]
(Read More)20th Dec 10
Retailers move business abroad to avoid taxes
by Harry Oldfield
Despite the Tories making pre-election promises, little has been done so far to prevent major retailers from heading overseas to escape taxes. As Britain’s taxpayers receive the brunt of the austerity budget, several of the country’s largest corporations are escaping with miniscule tax bills by moving registrations to tax-free locations abroad. Boots – which has [...]
(Read More)19th Dec 10
Popular UK sweets get smaller as VAT rises
by Paul Russell
The UK’s biggest confectionary firms are downsizing product lines as they look to preserve profits as VAT rises. Nestle and Cadbury, among others, are beginning to brace for the tax hikes, which will go into full force on 4 January 2011. Both companies have quietly been implementing strategy to reduce the size of a majority [...]
(Read More)27th Oct 10
Thorntons warns cocoa prices on the rise
by Adam Richards
Popular UK retailer Thorntons has dealt a blow to chocolate lovers all over after warning that cocoa costs will continue to soar. In the wake of candy giants Nestle and Cadbury reporting that prices could increase up to seven per cent for items like Kit Kat, Diary Milk and Yorkie, Thorntons said that cocoa costs [...]
(Read More)8th Oct 10
Tesco boss hits out at short-term investors
by Paul Russell
Sir Terry Leary, Tesco’s chief executive, has attacked investors who buy shares in companies in order to make a quick buck. Talking at the London Business Forum, Sir Terry said he would prefer to see a register of shareholders who were truly interested in the long term future of a company. He made clear his [...]
(Read More)5th Oct 10
Asda and Cadbury launch Big Society schemes
by Sally Davies
Prime Minister David Cameron has named Asda and Cadbury as the premier brands for his Big Society scheme aimed at helping individuals take back their communities. The bid, which was revealed at the Conservative Party Conference this week, could herald in steep changes to the way brands interact with the government and construct CSR initiatives. [...]
(Read More)3rd Feb 10
Cadbury close to being de-listed from London Stock Exchange
by Natasha Redman
Protests, editorials, and almost 200 years of history as an independent company have accounted for little when shareholders of confectionary manufacturer Cadbury accepted a takeover bid from US-based Kraft Foods. The American firm had finally won its five month struggle to control the Birmingham company after confirming that 71.7 per cent of shareholders backed its [...]
(Read More)