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  • Reuterslast month

    Reckitt cuts the mustard with $4.2 bln food business sale

    U.S. spices maker McCormick & Co Inc has won the battle to buy Reckitt Benckiser Group's North American food business, paying a higher than expected $4.2 billion to add extra seasonings and sauces. London-listed Reckitt said in April it was reviewing options for the unit, which includes French's mustard and Frank's RedHot sauce, to cut debt following its $16.6 billion purchase of baby formula maker Mead Johnson. The sale, announced late on Tuesday, will reduce Reckitt's net debt to EBITDA ratio to 3.3 times from 4.1 times.

  • Reuterslast month

    PRESS DIGEST- British Business - July 7

    The following are the top stories on the business pages of British newspapers. ** British Gas is being investigated by the energy regulator over concerns that it may have wrongly told customers they would be charged up to 60 pounds ($77.81) for switching to a different supplier. ** Bovis Homes Group Plc has set aside a further 3.5 million pounds to cover compensation and remedial work for customers affected by its substandard building as it tries to move on from the scandal that rocked it at the start of the year.

  • Reuters2 months ago

    Major cyber attack disrupts businesses around world

    FRANKFURT/MOSCOW/KIEV, June 28 (Reuters) - A cyber attack wreaked havoc around the globe on Wednesday, crippling thousands of computers, disrupting operations at ports from Mumbai to Los Angeles and halting production at a chocolate factory in Australia. The virus is believed to have first taken hold on Tuesday in Ukraine where it silently infected computers after users downloaded a popular tax accounting package or visited a local news site, national police and international cyber experts said. More than 30 victims paid up but security experts are questioning whether extortion was the goal, given the relatively small sum demanded, or whether the hackers were driven by destructive motives rather than financial gain.