Polestar, the Swedish electric car maker, has announced that it has secured a $1 billion loan from a group of 12 international banks, including BNP Paribas, Natixis, Standard Chartered, BBVA, HSBC and SPDB. The loan, which has a three-year term, will provide Polestar with the funds it needs to finance...
Infinite Roots and Pulmuone join forces to create plant-based protein products for South Korea
Infinite Roots, a German food-tech company that produces plant-based meat alternatives from mycelium, has announced a strategic partnership with Pulmuone, a leading food manufacturer from South Korea. The two companies aim to develop and market innovative protein products for the South Korean market, catering to the local consumers’ preferences and...
Coles denies price gouging allegations amid inflation probe
Coles, one of Australia’s largest supermarket chains, has rejected the claims of price gouging in the grocery sector, amid an ongoing investigation by the parliament and the competition watchdog. The company’s CEO, Leah Weckert, said that Coles’ profit margins have been flat for years, and that the company needs to...
Fyffes to launch new consumer brand for bananas in Europe
Fyffes, a leading fresh produce group, has announced that it will replace its Fyffes label for its premium bananas sold in mainland Europe with a new consumer brand, Trudi’s. The company said that the new brand will offer a more sustainable and transparent choice for consumers and retailers, as well...
Iceland slashes baby formula prices amid UK probe into industry
Iceland, a UK-based supermarket chain, has announced that it is cutting the prices of 13 lines of branded baby formula products by up to 20%, as part of its £26m investment into lowering prices in 2023. The move comes amid an ongoing investigation by the UK’s Competition and Markets Authority...