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International Paper settles all-share deal after tussle with British rival MondiBusiness live – latest updatesThe FTSE 100 UK packaging firm DS Smith is to be taken over by a bigger US rival, International Paper, after the companies agreed a £5.8bn all-share deal.Tennessee-based International Paper, one of the largest paper and pulp companies in the world, moved in late March to gatecrash a £5.14bn all-share...

Regulator demands recall of two models, understood to affect about 10,000 of the popular productsDutch authorities have ordered a leading European manufacturer of cargo bikes to suspend sales and recall thousands of its products amid safety concerns over frame breakages.The Dutch regulator for food and consumer product safety (NVWA) called a temporary halt to trading by Babboe, which makes family cargo bikes seen daily...

Exclusive: Politicians say chemicals producer ‘appears to be implicated’ in abuses of minorities in Chinese provinceThe German chemicals producer BASF “appears to be implicated in gross abuses” of Uyghurs in Xinjiang and should withdraw from the Chinese province, a group of politicians from around the world have said.The group made the allegation in a letter to BASF’s chair, Martin Brudermüller, on Monday, after the...

Supply chain difficulties have led to job losses and cuts in purchasing and stocks, S&P Global poll showsBritain’s factories have been hit by disruption caused by Houthi rebel attacks in the Red Sea that led to shipping delays and contributed to rising costs, as the boss of Adidas warned about “exploding” global freight rates.UK manufacturers have experienced growing supply chain difficulties, as the Red...

Bootmaker says global sales fell by 18% with cash-strapped consumers refusing to splash out at ChristmasDr Martens said revenue dropped by nearly a fifth in the final three months of 2023, as sales in the US continued to plunge and inflation-weary consumers continued to rein in spending.The British bootmaker said in a trading update on Thursday that sales fell by 18% in its third...

Build Your Dreams outsells rival in final quarter of 2023 figures for battery-only vehiclesElon Musk’s Tesla has been overtaken by its Chinese rival, BYD, as the world’s top selling electric carmaker.BYD, which has been backed by the US investment billionaire Warren Buffett since 2008, has beaten Tesla’s production for a second consecutive year. Continue reading...