General Mills posts 5% uptick in net sales for 2020 The owner of Häagen-Dazs and Cheerios has reported a strong set of results, as healthy retail sales offset a decline in its foodservice unit during Covid-19. Net sales reached $17.6bn for the year ended 31 May. Read more.

Tesla overtakes Toyota to become the world’s most valuable car maker Tesla's share price has overtaken Toyota's for the first time, rising by nearly 4% yesterday. Toyota is still larger in global volume. Read more.

Nestle-owned continues European expansion The UK-based DTC pet food brand now operates in Ireland, Sweden, the Netherlands, Denmark, Belgium and Austria – having set up in France in 2019 and in Germany earlier this year. Read more.

Laura Mercier signs retail deal with Boots The UK health and beauty retailer will stock an assortment of Laura Mercier’s line of products in store as well as online. This is the latest development in the cosmetics brand's ongoing expansion strategy. Read more.

Unilever to merge five UK offices into campus HQ If it goes ahead, the plan will bring together all employees from the company’s Leatherhead, 100 VE (Blackfriars), Kingston, PITCH, and Richmond sites to a campus site in Kingston upon Thames. Read more.

Coty buys $200m stake in Kim Kardashian West’s cosmetics brand As part of the deal, Coty will take a 20% stake in the celebrity's KKW brand and take "overall responsibility" for driving up sales of its skin, hair and nail care products. In January, Coty took a $600m stake in her sister Kylie Jenner's brands. Read more.