Business News

Uilever to buy Seventh Generation for undisclosed amount

Unilever uses acquisition to boost its environment-friendly products to increase its margin and growth.

Unilever will buy Vermont-based Seventh Generation for an undisclosed amount, per Reuters. The deal will give Unilever access to Seventh Generation’s “green” home and personal care goods, including recycled tissues, organic tampons and dish soap. The move comes as part of Unilever’s plans to boost environment-friendly products. It is also the latest development in its acquisition of higher-margin, higher-growth skin care and personal care brands.

Venezuela government arrests shoppers who buy too much food

Venezuela is facing serious economic crisis even in food distribution

Shoppers buying too much food are being arrested in Venezuela. The crackdown on shoppers is part of Venezuela government’s plan to regulate food distribution and consumption as the country faces an economic crisis. The government has arrested 9,400 people this year for allegedly violating rules against hoarding, reselling items on the black market, and standing in line outside stores before normal work hours.

Tech that stops water wastage will be big in India

Startups in India that want to make huge profits by addressing a real significant need should look at India’s current water crisis, advises Entrepreneur India. Technology that can stop the current wastage of water and lead to savings for the concerned regions must be invented. Intelligent metering that reduces water use by 35% is one example. Smart irrigation like dry farming, which minimizes water use, is another.

Chinese bank to invest $450B in agriculture by 2020

Chinese government will invest 3000 billion CNY in agriculture modernization in 5 years by 2020

The Agricultural Development Bank of China agreed to invest CNY 3000B in the modernization of the country’s agriculture sector through overseas business expansion and development of its seed industry, as well as to underpin national food security.

Apple pays $116M tax penalty in Japan

Per The Independent, Japan’s Tokyo Regional Taxation Bureau ordered Apple to pay 116 million USD in taxes after it failed to report the income of its Japan iTunes unit properly. The news came a few weeks after Apple faced an 14.34 billion USD tax penalty from the European Union, which ruled that Apple’s deal with Ireland was illegal.

Halve Maan Brewery opens beer pipeline in Belgium

Halve Maan

The Halve Maan brewery opened the 3-kilometer, worth $4.5 million, underground beer pipeline, which took four years to plan and five months to build. It will transport the beer from its brewery center to a bottling plaint outside the city. The unique beer pipeline will also get rid of beer-laden trucks, which weigh 40 tons each, from the streets of Bruges.

Iran expects US to grant licensing for Boeing, Airbus deals

Iran invests $10 billion in upgrading its aging aircraft

Iran’s Deputy Transport Minister said the country is expecting the U.S. Treasury to issue licenses needed for the purchase of more than 200 aircraft worth of $10 billion from Boeing Co. and Airbus Group SE to upgrade its aging fleet. Iran is seeking to buy 80 planes and lease 29 more from Boeing and 118 planes from Airbus.



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