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Coca-Cola recalls drinks over safety concerns

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Coca-Cola has recalled its drinks in some countries across Europe because they contain “higher levels” of a chemical called chlorate.

The firm said in a statement that the recall was focused on Belgium, Luxembourg, and the Netherlands. It added just five product lines had been shipped to Britain, and they had already been sold.

Affected products include the Coke, Fanta, Sprite, Tropico and Minute Maid brands, according to the Belgium branch of Coca-Cola’s international bottling and distribution operation.

Chlorate can be produced when chlorine-based disinfectants are used in water treatment and food processing.

“Independent expert analysis concludes that any associated risk for consumers is very low,” a spokesperson told the BBC.

Coca-Cola said it had not received any consumer complaints in Great Britain, and that it had “alerted the authorities on this matter and will continue to collaborate with them.”

The company added the issue has affected “a very small number of imported cans” of Appletiser, Coca-Cola Original Taste, Coca-Cola Zero Sugar, Diet Coke and Sprite Zero with production codes from 328 GE to 338 GE” which Coca-Cola said can be found on the base of the can.

Anne Gravett from the Food Standards Agency said it was investigating.

“If we identify any unsafe food, we’ll take action to ensure it is removed and alert consumers,” she added.

Exposure to high levels of chlorate can cause health problems including thyroid problems, especially among children and infants.

NHS and private nutritionist Caron Grazette told the BBC: “We need to question whether or not we want to digest chemicals in soft drinks which are used in the production of fireworks and disinfectants, however small the quantity”.

Chlorate’s effects on humans when taken in excess include nausea, vomiting, diarrhoea, and limiting the blood’s ability to absorb oxygen, added Ms Grazette, citing recent research into the chemical.

The higher levels of chlorate were discovered during routine testing at the company’s production facility in Ghent, Belgium, according to an unnamed company spokesperson quoted by the AFP news agency.

The majority of unsold products had been withdrawn from shelves, according to AFP, and the company was in the process of withdrawing the rest.

A Coca-Cola spokesperson said it “considers the quality and safety of its products as its top priority”.

(BBC News)

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Car giant Ford & Barbie maker Mattel warn over tariffs costs

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Barbie maker Mattel says it will put up the prices of some of its toys in the US as President Donald Trump’s tariffs increase its costs.

The firm also says it will cut the number of products it makes in China for the American market.

At the same time, car making giant Ford says the levies will cost it about $1.5bn (£1.13bn) this year.

They join a growing list of big businesses warning about the impact of US tariffs on their companies and the wider economy.

“Given the volatile macroeconomic environment and evolving US tariff landscape, it is difficult to predict consumer spending, and Mattel’s US sales in the remainder of the year and holiday season,” Mattel said as it updated investors on its financial performance.

The US accounts for about half of Mattel’s global toy sales. It imports around 20% of its goods sold there from China.

The company said it plans to reduce those Chinese imports to the US to below 15% by next year.

Since returning to the White House in January, Trump has imposed new import taxes of up to 145% on goods from China.

His administration said last month that when the new tariffs are added on to existing ones, the levies on some Chinese goods could reach 245%.

China has hit back with a 125% tax on products from the US.

Apart from China, Mattel imports products – including Barbie dolls and Hot Wheels cars – from Indonesia, Malaysia and Thailand.

The three countries were also hit with steep tariffs by Trump in April, before they were paused for 90 days.

Last week, Trump acknowledged the potential impact of tariffs. American children might “have two dolls instead of 30 dolls”, he said, but added that China would suffer more than the US.

Carmaker Ford said it expected tariffs to add $2.5bn to its overall costs this year, mainly due to the increased expense of Mexican and Chinese imports.

But the firm said it had cut about $1bn of those added costs by taking various measures, including transporting vehicles from Mexico to Canada to avoid US tariffs.

The firm also suspended its annual earnings guidance to investors because of uncertainty around Trump’s trade policies.

In April, firms including technology giant Intel, footwear makers Adidas and Skechers, and consumer goods group Procter & Gamble detailed the impact of tariffs on their businesses.

“The very fluid trade policies in the US and beyond, as well as regulatory risks, have increased the chance of an economic slowdown with the probability of a recession growing,” Intel’s chief financial officer David Zinsner said during a call with investors.

Sportswear giant Adidas warned tariffs would lead to higher prices in the US for popular trainers, including the Gazelle and the Samba.

The finance chief of footwear firm Skechers, David Weinberg, told investors: “The current environment is simply too dynamic from which to plan results with a reasonable assurance of success.”

And Procter & Gamble – which makes Ariel laundry detergent, Head & Shoulders shampoo and Gillette shaving products – said it was considering changes to its prices to make up for the extra cost of materials sourced from China and other places.

(BBC News)

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CSE to close early for LG polls

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The Colombo Stock Exchange (CSE) has announced that trading hours will be shortened on May 06, in view of the Local Government Elections.

On that day, trading, which commences at 9.30am, will conclude at 12:30pm – two hours earlier than the usual closing time of 2:30pm.

The CSE stated that the decision was made to accommodate the convenience of investors, staff, and other market participants during the election day.

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Coconut prices soar

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Consumers are struggling due to a sharp rise in coconut prices across the country.

Traders say large coconuts now sell for Rs.200 – 250, while smaller ones range from Rs.175 – 190.

The steep price hike is straining household budgets and impacting small businesses that depend on coconuts for daily food preparation.

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