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Swiss food firm’s infant formula and cereal sold in global south ignore WHO anti-obesity guidelines for Europe, says Public EyeNestlé, the world’s largest consumer goods company, adds sugar and honey to infant milk and cereal products sold in many poorer countries, contrary to international guidelines aimed at preventing obesity and chronic diseases, a report has found.Campaigners from Public Eye, a Swiss investigative organisation, sent...

Fitch cut to negative comes as country moves away from reliance on growth from property sectorBusiness live – latest updatesFitch has downgraded the outlook on China’s debt as it warned of increased risks to the economy while the country moves away from its reliance on growth from the property sector.On Wednesday the US-based agency said it had revised China’s sovereign credit rating from stable...

Law firm’s founders among those to face money laundering charges after leak of 11.5m files in 2016A criminal trial of 27 employees working for the law firm at the heart of the Panama Papers on money laundering charges has commenced in a Panamanian court.Eight years ago, leaked financial records from the law firm Mossack Fonseca sparked international outrage at the use of offshore companies...

Walter Huang was killed when his car steered in to a highway barrier and Tesla will avoid questions into its technology in a trialTesla has settled a lawsuit over a car crash which killed an Apple engineer in 2018 after his car veered off a highway near San Francisco, court documents showed on Monday.The settlement was made as the trial was about to start...

In annual letter to investors, Jamie Dimon warns ‘wars in Ukraine and Middle East could become far worse’The boss of the US bank JP Morgan has warned that the world could be facing the most dangerous moment since the second world war, putting lives and economic growth at risk.In his annual letter to investors, Jamie Dimon said the world had been “generally on a...

Incident involving Southwest flight will add to pressure on plane maker as it shakes up leadershipUS airline regulators have launched an investigation after an engine cowling on a Boeing plane fell off during takeoff and struck the wing flap, the latest in a series of safety problems facing the aircraft manufacturer.The Southwest Airlines flight 3695 rose to about 10,300 ft (3,140 metres) before returning...

As the organisation’s anniversary nears, borders around the world are closing againWhen trade ministers gathered in the Moroccan city of Marrakech 30 years ago this month to sign the agreement creating the World Trade Organization (WTO), the mood was celebratory. The Berlin Wall had come down only recently, communism had collapsed, and there was optimistic talk of how the body would prise open new...

Regulator acts after identifying concerns of possible greenwashing during review of fashion sectorShares in the British packaging group DS Smith rose after it announced that it is in discussions with a New York-listed paper producer over a £5.7bn takeover offer.London-based DS Smith confirmed that it is in talks with International Paper, the largest paper and pulp company in the world, over an all-stock offer...

Former CEO of shared office space rental company has reportedly been in talks with investorsBusiness live – latest updatesAdam Neumann, the ousted co-founder of WeWork, has tabled a bid worth more than $500m (£395m) in an attempt to regain control of the long troubled shared office space rental company that he launched in 2010.Flow, Neumann’s property company, said on Monday that it had submitted...

Exclusive: new role created after Guardian uncovered allegations against company’s security guardsA vast Del Monte pineapple farm in Kenya that supplies most British supermarkets is advertising for a human rights manager to address its “human rights challenges” in the wake of allegations of killings and violence by its security guards.The job advert says the candidate will need to “develop a detailed action plan to...

Company accused of violations including Chinese employees improperly downloading files relating to Pentagon programsBoeing said on Thursday it had reached a $51m settlement with the US state department for numerous export violations including Chinese employees in China improperly downloading documents related to US Pentagon programs.The state department said from 2013 through 2017 three Chinese employees at Boeing facilities in China downloaded technical data involving...

US justice department scrutinizing whether door blowout violated 2021 agreement with Boeing after two fatal plane crashesThe Federal Aviation Administration (FAA) is giving Boeing 90 days to come up with a plan to fix quality problems and meet safety standards for building new planes, as the justice department reportedly reviews whether a mid-flight plane door panel blowout in January violated a previous settlement agreement...

Beijing must be more ready to support countries facing distress, says deputy chief economistChina holds the key to speeding up debt relief and ending the “silent crisis” that is holding back attempts to tackle poverty in the world’s poorest countries, a senior World Bank official has said.Ayhan Kose, the Bank’s deputy chief economist, said Beijing needed to be more active in negotiations to provide...

Judge Arthur Engoron gave prosecutors the fine they asked for and admonished the former president for showing no remorseTrump ordered to pay over $350m in New York fraud caseNew York judge Arthur Engoron passed a searing judgment on Donald Trump and his real-estate company on Friday, fining the former president over $350m and banning him and his adult sons from leading companies in New...

Police investigate after employee says she was tricked into sending money to fraudsters posing as senior officers at her firmHong Kong police have launched an investigation after an employee at an unnamed company claimed she was duped into paying HK$200m (£20m) of her firm’s money to fraudsters in a deepfake video conference call.The Hong Kong police force said it had received a report from...

Social media users get around government crackdown on negativity via US embassy conservation updateA social media post about giraffe conservation has become the latest place for people in China who are unhappy about the economy to vent their frustration, as the Chinese government increasingly cracks down on negative commentary.On 2 February, the US embassy in China posted an update on its Weibo account about...

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...

Transparency International chief says fall to 20th place should act as ‘a wake-up call’ for the governmentThe UK has fallen to its lowest-ever position in Transparency International’s corruption perceptions index, which ranks countries by experts’ views of possible corruption in public services.The UK fell from 18th (out of 181 countries) in 2022 to 20th in 2023, its lowest position since the research was revamped...

Judge says ‘enough is enough’ after developer, which has $300bn in debt, fails to provide convincing restructuring plan Embattled Chinese development company, Evergrande, has been ordered to liquidate by a Hong Kong court after an 18-month long hearing.Evergrande, which holds the ignominious title of the world’s most indebted property developer with about $300bn in liabilities, failed to convince the court that it had a...

Talks that began in 2022 halted amid unhappiness on both sides about lack of access to agricultural marketsThe UK has halted trade talks with Canada, with discussions breaking down after a disagreement over beef and cheese.The two countries have been negotiating for the past two years in the wake of Britain leaving the European Union, with trade continuing under the same deal brokered when...

US regulator makes announcement hours after CEO says planemaker will only allow jets to fly when ‘100%’ certain of safetyThe Federal Aviation Administration (FAA) has approved an inspection and maintenance process to allow grounded Boeing 737 Max 9 planes to return to service, following a cabin panel blowout on an Alaska Airlines flight.“The exhaustive, enhanced review our team completed after several weeks of information...

Biggest reduction since December 2021 will allow 1tn more yuan to be released in form of new loansChina’s central bank has announced a surprise cut to the amount of cash that banks must hold in reserve, hoping to boost the lending available to households and businesses as policymakers try to steer the economy through a fragile recovery.Pan Gongsheng, the governor of the People’s Bank...

Abigail Disney, Brian Cox and Valerie Rockefeller among signatories of open letter condemning inequalityGeopolitical tensions and AI dominate start of WEFMore than 250 billionaires and millionaires are demanding that the political elite meeting for the World Economic Forum in Davos introduce wealth taxes to help pay for better public services around the world.“Our request is simple: we ask you to tax us, the very...

Rolling coverage of the opening day of the World Economic Forum in DavosGeopolitical tensions and AI dominate start of World Economic ForumUkraine’s president, Volodymyr Zelenskiy, has met business chiefs at a session for “CEOs for Ukraine”, here at the World Economic Forum, before his speech this afternoon.He was seated alongside Ursula von der Leyen, European Commission President, who will also address WEF today: Continue...