The food giant, created in a merger orchestrated by Warren Buffett and the private equity firm 3G Capital, is in the midst of a turnaround as its brands fall out of favour. Photograph: Houston Cofield/Bloomberg

Kraft Heinz, the iconic food giant created in a merger five years ago, was downgraded to junk by Fitch Ratings, raising fresh worries among investors (...)

Takeover of Friends Life Group by Aviva would be the biggest takeover in the UK insurance industry in 15 years and create a company with 16 million customers. Photograph: Matthew Lloyd/Bloomberg

Aviva plc, Britain’s second biggest insurer by market value, fell the most since July in London trading after saying it was in talks to buy Friends Li(...)