Coca-Cola has said it may have to increase its use of plastic in the US if Donald Trump’s tariffs raise the cost of aluminium cans.The drinks company’s warning follows Trump’s introduction of 25% tariffs on foreign steel and aluminium entering the US, which could push up the prices of canned food and drink (Guardian).
Heineken led a rally in shares of Europe’s biggest brewers on Wednesday after the group’s annual profits and revenues beat forecasts and the company announced an unexpected share buyback (Financial Times). The Dutch brewer revealed an 8.3% rise in full-year operating profits to €3.5bn on an organic basis (Times).
Kraft Heinz yesterday posted an operating loss of $40m for the quarter, compared to a profit of $1.3bn a year earlier. For the full year, operating profit fell 63.2% to $1.7bn, based on sales revenue of $25.8bn (Reuters)
The department store chain Beales is to close its last remaining shop, in Poole, for the second time as it blamed rising costs linked to the budget for a failed rescue attempt (Guardian). Beales, which opened in Bournemouth in 1881, said trading would end in May (Mail).
US egg prices are soaring to record highs as farmers are forced to slaughter millions of chickens in an attempt to halt the spread of bird flu, which has ripped through the nation’s poultry barns in recent months (Financial Times).
Restaurant Brands beat fourth-quarter profit and sales estimates on Wednesday, as promotions boosted performance at Burger King, while Tim Hortons benefited from steady demand for its Double Double and Iced Capp coffee (Reuters).
Nathan’s Famous, the iconic hot dog chain founded more than a century ago on New York’s Coney Island, is considering a sale (Financial Times)
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