GlaxoSmithKline is negotiating the sale of its $4 billion nutrition business to Unilever, reports the Financial Times. The unit includes the Horlicks malted milk drink, popular in India. If finalised, the Anglo-Dutch firm would firm up its position in India which is its most important new market. GSK’s Indian business is listed on the Bombay Stock Exchange and has a market value of $4.2 billion. GSK’s Bangladesh-listed business is expected to be included in the deal. Unilever beat the market leader in powdered hot drinks, Swiss food and beverage group Nestlé. • Here’s what people are saying.
Uber has been fined by British and Dutch data protection regulators for exposing the private information — including full names, email addresses and phone numbers — of around 2.7 million UK customers. Britain’s Information Commissioner’s Office is fining Uber £385,000 for not protecting customers’ personal information during a cyber attack that occurred in October and November 2016. 82,000 UK Uber drivers also had their personal information, including journey details and how much they were paid, taken during the breach. The Dutch Data Protection Authority has fined Uber €600,000 for the breach. • Here’s what people are saying.
PayPal’s £1.7 billion takeover of Swedish payments firm iZettle could hamper competition and push up prices, the UK watchdog has said. An investigation by the Competition and Markets Authority found that PayPal “could face insufficient competitionin the UK after acquiring its market-leading rival”. Founded in Stockholm in 2010, mobile payments company iZettle was acquired by PayPal in September. Both companies face an in-depth investigation if they cannot address the regulator’s concerns. • Here’s what people are saying.
Ireland and Malta will close a tax loophole that allows U.S. multinational corporations to dodge tax by channeling cash through Malta. Dubbed the “single malt,” the arrangement allowed American companies to place intellectual property in an Irish-registered company that is resident in Malta in order to substantially reduce their tax liabilities. Irish Minister for Finance Paschal Donohoe confirmed Tuesday that Revenue and the Maltese tax authorities had agreed to end the loophole in a deal. It will take effect once Ireland ratifies an OECD convention next year; Malta has already ratified the convention. • Here’s what people are saying.
Slovenia has become the only Nato country with a woman in charge of the military. Major General Alenka Ermenc, 55, will take up her position on Wednesday — she is currently serving as the army’s deputy-chief of staff. Ermenc’s career began in 1991 when Slovenia first gained independence from the former Yugoslavia. Slovenia’s President Borut Pahor said he hopes Ermenc’s appointment will improve the army’s performance. • Here’s what people are saying.