UK Government grants £500m to Jaguar Land Rover to drive EV development As part of the government’s promise to reduce emissions by 80% by 2050, U.K. Export Finance is supporting Jaguar’s venture in electrified vehicle development. Jaguar plans to provide electric versions of all its models by 2020. Read more.

Bühler and Givaudan partner to support startups in Switzerland The Swiss technology company for processing equipment and the world-renowned creators of flavours and fragrances are working together to improve access to food startups. They will host and advise entrepreneurs in newly opened innovation centres. Read more.

Carling owner Molson Coors has acquired crowdfunded Hop Stuff Molson Coors has purchased the London-based craft brewer, rescuing it from administration and wiping out a $1.5m crowdfunding investment. Molson Coors hopes the acquisition will expand its U.K. craft beer offer. Read more.

Johnson & Johnson’s profit increases by 42% in second quarter J&J reported a net income of $5.61bn, beating expectations. J&J's pharmaceutical business accounted for half of this revenue, with both the consumer unit and medical device business exceeding predictions. J&J has boosted its full-year forecast to $81bn. Read more.

Husqvarna reports second quarter profits The world’s biggest maker of outdoor power tools reported a second quarter operating profit of $227.8m, compared to $206.2m last year. Stockholm-based Husqvarna Group manufactures products such as chainsaws, mowers and sewing machines. Read more.

France-headquartered Lactalis acquires Brazilian dairy company Itambé is one of Brazil’s largest dairy firms with over 7000 suppliers. Lactalis do Brasil, a subsidiary of Groupe Lactalis, has already made three other acquisitions in the country and will now be able to process 2.3 billion litres of milk a year. Read more.