P&G to write-down value of Gilette brand The consumer goods giant has said that it will record up to $2.5bn in charges over two fiscal years as it writes down the value of its Gillette business. Gillette currently represents around 8% of total sales at P&G. Read more.

British American Tobacco makes £25bn writedown BAT is making a £25bn writedown on the value of some of its US cigarette portfolio. The move is part of the company's long-term transformation, with a greater focus on heated products and tobacco alternatives. Read more.

L’Oréal announces acquisition of probiotic and microbiome research firm The beauty giant has acquired Lactobio, a Copenhagen-based leader in probiotic and microbiome research. The move is part of L’Oréal's ongoing strategy to expand its scientific and product performance capabilities. Read more.

Biossance skincare brand bought by THG Prestige skincare brand Biossance has been acquired by THG from S biotechnology group Amyris for $20m. Biossance generates global revenues of $300m, and is currently stocked in over 1,600 stores. Read more.

Profits dip at Remy Cointreau The group has reported a 43% fall in first-half operating profit, thanks to high levels of unsold inventories in the US. The maker of Remy Martin cognac and Cointreau liqueur has said that it will not see any growth in sales before the next financial year. Read more.

Retail Food Group buys pie brand in $10m deal Global food and beverage group Retail Food Group is expanding its portfolio with the acquisition of Australia-based pie maker Beefy's Pies. Read more.