Smart luggage firms close because of airline battery rules
Two smart luggage firms have closed in May, with both blaming changes to airline policies regarding how lithium batteries can be taken on board planes. Raden and Bluesmart said the changes, by several major airlines in December 2017, had made business impossible. The new rules meant that luggage batteries […]
Airbus loses ground in bid to sell jets to United
PARIS/NEW YORK (Reuters) – Airbus’s hopes of winning an immediate respite from slow sales of its A330neo jetliner with an order from United Airlines are dwindling, leaving a gap in future production weeks before it is due to enter service, industry sources said on Friday.
Airbus has been competing with Boeing to replace all or part of a fleet of some 50 Boeing 767s at United Airlines (UAL.N), people familiar with the discussions say. Others said Airbus had made an unsolicited offer to try to head off plans by United to use rights to buy more Boeing 787s. It’s the latest twist in one of the fiercest recent jet market battles, pitting Boeing’s 787 against the latest type of A330, with Boeing so far holding the upper hand.
Big Ag turns to peas to meet soaring global protein demand
In a joint venture at a Wisconsin plant, flour milled from Iowa yellow peas is mixed with water and spun at high speed through stainless steel drums, separating the protein from starch and fiber.
The resulting powder ends up blended into waffle mixes, sports drinks, nutrition bars and protein shakes – small examples of a much larger push by the world’s biggest agriculture firms to find alternative plant-based proteins to feed people and livestock worldwide.
Campbell Soup CEO steps down abruptly, review of products planned
(Reuters) – Campbell Soup Co Chief Executive Officer Denise Morrison unexpectedly stepped down on Friday, after seven years at the helm, at the same time the company said it would embark on a review of its vast array of brands. Morrison, 64, will be replaced by board member Keith McLoughlin, 61, in the interim, Campbell said, but provided no reason for her departure. Morrison will continue to be on the board.
Under Morrison, Campbell suffered four straight years of sales declines at its core U.S. soups business. She tried to pivot away from the operation and focus on building a healthy fresh food and snack portfolio, pulling off several acquisitions including recently buying Cape Cod chips maker Snyder’s Lance for $4.87 billion. But the moves have not yet helped the company, which cut its full-year profit forecast on Friday to account for the Snyder’s Lance deal.
Cambridge Analytica files for bankruptcy in U.S. following Facebook debacle
(Reuters) – Cambridge Analytica, the political consultancy at the center of Facebook Inc’s (FB.O) privacy scandal, filed for Chapter 7 bankruptcy in the United States late on Thursday. This past March allegations surfaced that Cambridge Analytica, hired by President Donald Trump’s 2016 U.S. election campaign, improperly used data of 87 million Facebook users beginning in 2014.
Cambridge Analytica and its British parent SCL Elections Ltd said earlier this month that they would shut down immediately and begin bankruptcy proceedings after suffering a sharp drop in business. The petition to file bankruptcy was submitted at the U.S. Bankruptcy Court Southern District of New York and was signed on behalf of Cambridge Analytica’s board by Rebekah and Jennifer Mercer, daughters of billionaire Robert Mercer.
Airbnb to report homeowners’ income to Danish tax authorities
Airbnb will automatically report homeowners' income to tax authorities in Denmark under a landmark move. It will make it easier to spot tax evasion by homeowners renting out rooms and properties via the site. Danish tax minister Karsten Lauritzen said the country wants a “sharing economy” to flourish, but on condition taxes are paid.
The move – which needs clearance in parliament – comes as several countries try to rein in Airbnb tax evaders. In addition to the issue of taxes, Airbnb is blamed for pushing up house prices in major cities and taking away business from hotels and B&B outlets. The Denmark deal will also include limiting the number of days an owner may list a property to 70 a year. Owners will be given a tax-free allowance of up to 40,000 kroner (£4,690) a year.