CHECKOUT COUNTER

1. Campbell lands in the soup

Activist investor Dan Loeb’s investment firm, Third Point LLC, reportedly now has a more than $300m stake in Campbell Soup. In May, the company announced that it would conduct an operational review of its business after recurrent poor earnings. Loeb is said to have hired an investment banker and is pressuring the company and its top investors to put Campbell Soup up for sale.

2. Spur bolsters portfolio

Spur Corp is acquiring a 51% stake in restaurant group Nikos Coalgrill Greek. Nikos Coalgrill Greek operates six franchised restaurants, with a further four outlets confirmed to open in the coming months. Spur Corp will have an option to acquire an additional 19% shareholding after three years.

3. Teacup half empty

The Kenyan subsidiary of Unilever has embarked on a layoff plan that could affect 11,000 employees, the workers’ union said. Kericho-based Unilever Tea has 16,000 employees and is restructuring to ensure it has an organisation that is “agile, fit to compete and efficient” in its quest to respond to rapidly changing business needs. The tea workers’ union has accused the company of breaching labour laws.

4. Exploiting ‘King of Cool’

Italian sports car company Ferrari is being sued by the family of Steve Mcqueen for marketing cars around the image of the iconic actor without compensation. Court papers say the company profited unfairly from the actor’s legacy when it sold “The Mcqueen”, a limited-edition model in connection with the 70th anniversary of Ferrari-branded cars.