Stock markets have retreated again over worries of further US interest rate rises after the Federal Reserve defied Donald Trump to increase rates for the fourth time this year.

The EU has confirmed it is “actively investigating” a potential breach of its diplomatic communications network, following reports that secret cables had been stolen by hackers.

The Bank of England has welcomed a “crucial and positive” move by the EU to help keep a key part of the financial system functioning in the event of a “no-deal” Brexit.

A handful of banks will be forced to write multimillion pound cheques to buy shares in the construction giant Kier Group after some of its biggest investors snubbed the chance to take part in a £250m fundraising.

GlaxoSmithKline (GSK) is to merge its consumer healthcare unit with that of rival Pfizer, to create a new market leader with almost £10bn in annual sales.

 

Santander has been fined more than £30m for “serious failings” in processing the accounts of dead customers, the Financial Conduct Authority (FCA) says.

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Coca-Cola extends its rPET agreement

Coca-Cola-extends-its-rPET-agreement

The company has extended an agreement that involves the extension of a loan to Netherlands-based Ioniqua Technologies in order to develop its technology to produce high-grade recycled PET content

The beverage giant claims this will quicken the deployment of high-grade recycled content PET for use in Coke’s bottles as well as supporting the company’s vision to work towards a global goal of creating packaging which is made from at least 50% recycled material by 2030.

The technology has been validated at the demonstration with value chain partners, whilst a 10,000-tonne industrial plant is under construction in The Netherlands, for commissioning in 2019.

Robert Long, chief innovation officer at Coca-Cola, stated: “Our investment in new and pioneering recycling technologies is an opportunity for significant movement toward closing the loop and creating a circular economy for PET. We plan to continue investment in developing the right partnerships and initiatives – like with Ioniqa – to support our vision of a World Without Waste.”

Coca Cola European Partners also recently purchased a supply of 100 per cent rPET from Loop Industries in order to increase its use of recycled materials in the creation of its bottles. It expects to be using Loop rPET in its packaging by early 2020.

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