Business headlines: Amazon; Coca-Cola; Google; Facebook; Sky Bet; Retail Food Group; Nestle


It’s vital to be aware of the latest news in the industry you’re working in or applying to. Here are some headlines you might find interesting:

Amazon under attack from Donald Trump
Donald Trump has attacked Amazon for not paying enough in US state taxes. He tweeted this month that the tech giant is “putting many thousands of retailers out of business” and last year that “Towns, cities and states throughout the U.S. are being hurt – many jobs being lost!” Although some believe that Trump is primarily motivated by the commercial woes of his wealthy friends’ businesses, he is not alone in the belief that Amazon is getting away with paying far less than its fair share of tax: the European Commission announced plans last week to ensure the big technology firms Google, Apple, Facebook and Amazon pay more tax.

Coca-Cola to close two UK sites 
Almost 300 jobs will be lost when Coca-Cola closes two sites in the UK in Milton Keynes and Northampton. Established in 1976, the Milton Keynes site produces 60 million cases of soft drinks a year. The primary reason given was to provide greater efficiency, with the soft drinks giant emphasising that this was not a reflection on the employees at the two sites. Training and development opportunities are being offered to the affected employees and 121 additional jobs will be created at its other British sites. A union representative said that the move was “totally unexpected” and would be “a blow to the Northampton economy.”

Google to pay nearly £50m ($70m) in tax
Google will pay £49.3m on UK profits of £202.4m ($284.72), which is the highest tax figure the company has paid to date. Although the total value of Google’s UK sales is approximately £5.7bn ($8bn) a year, most of the intellectual value of its business is created in America so that is where it pays most of its taxes. It also has its European headquarters in Dublin, where corporation taxes are lower. The tech giant said it pays a substantial “administration fee” to its European parent to operate across Britain and “is investing significantly in the UK, including starting work on new offices in King’s Cross [London] for 7,000 staff.”

Facebook overhauls its privacy tools
Following intense criticism after revelations of harvesting and passing on user data to Cambridge Analytica, Facebook has announced an overhaul of its privacy settings including a simplified list of controls available to the user, a new privacy shortcuts menu and the ability to revise past interactions with the site. The BBC also understands that the firm plans to make the ability to fully delete an account more prominent. The announcement coincides with a fresh dispute with New Zealand’s privacy watchdog, which has accused Facebook of being in breach of local laws.

Sky Bet failed to potect vulnerable customers
Gamblers who struggle to control their gambling can ask betting firms to refuse their service – something known as self-exclusion. However, British-based gambling firm, Sky Bet, allowed its self-excluded customers to open and use duplicate accounts. It even sent them marketing texts, emails and push notifications through their mobile app. Sky Bet said it had tried to return the money to the self-excluded gamblers accounts, but 36,748 customers did not get the balance on their account returned. The Gambling Commission said, “Sky Bet reported the issues to us quickly, co-operated with us and has taken this investigation seriously.”

Retail Food Group, Australia’s largest multi-brand retail food franchise owner, has been accused of “ripping profit out of franchisees to satisfy shareholders”. The share price fell 60 per cent in the last three months as the company took big write-downs that pushed it into the red.

are restructuring the sugar it uses in its Milkybar to produce a bar with 30% less sugar. It aims to reduce sugar in its confectionery by 20% by 2020

Source: HN Global