Europe biz: Stocks buoyed by Brexit agreement, Domino's exits markets

Domino's has 57 stores in Norway but turnaround sales improvements were lower than expected (Credit: Associated Press)

European shares advance on Brexit deal

European stocks gained ground after British Prime Minister Boris Johnson announced the UK and EU had agreed a Brexit deal. The agreement, however, will need to be passed by both the British and EU parliaments.

London's FTSE 100 jumped 0.52 percent to 7205.04 , the Paris CAC 40 rose 0.11 percent to 5703.07, while the Frankfurt Dax climbed 0.35 percent to 12,714.51 points.

Sterling also surged going above $1.29 for first time since May.

Britain's Domino's pizza to pull out of four international markets

Domino's Pizza Group, Britain's biggest pizza delivery company, will pull out of four European markets, where it has faced increasing losses. The British company plans to withdraw its operations in Switzerland, Iceland, Norway and Sweden.

CEO David Wild said: "We have concluded that, whilst they represent attractive markets, we are not the best owners of these businesses."

The company is a franchise of US-based Domino's Pizza Inc and said third-quarter group system sales rose 3.4 percent to $400.15 million on strong demand in the UK and Ireland, where pizza is the most popular takeaway.

Unilever and Nestlé to face fines imposed by palm oil body

European companies Unilever and Nestlé are to face fines imposed on them by a palm oil watchdog if they don't start buying more green palm oil to help curb deforestation in Southeast Asia.

Palm oil growers say buyers such as Unilever, Nestlé, Procter & Gamble and PepsiCo don't buy enough sustainably produced oil and should adopt greener practices.

Carl Bek-Nielsen, CEO of United Plantations, said companies are not doing their part because of a "fear of having to pay a slight premium."

The new regulations will be implemented from November and will require members of the Roundtable on Sustainable Palm Oil (RSPO) to increase the proportion of their sustainable purchases by 15 percent every year or face fines and potential suspension from the green initiative body.

The palm oil fines are being imposed as part of a drive to reduce levels of slash-and-burn techniques that lead to deforestation (Credit: Associated Press)

Unions at France's EDF to protest against restructuring plan

Unions within France's state-owned utility company EDF are striking in response to the government saying it does not have any plans to halt a restructuring plan.

More than a third of EDF's French workforce took part in a strike on 19 September in protest against plans that could potentially open up parts of EDF's business to more private investment.

Pernod Ricard will pass tariff increases on to US customers after WTO decision

The boss of Pernod Ricard said on Thursday, trade tariffs imposed by the US on a range of products including single malt Scotch whisky and Spanish wine from 18 October, will have a "significant" impact on its North American customers.

The World Trade Organisation (WTO) approved the US plans to put a 25 percent duty on certain goods exported from the European Union in retaliation for illegal EU subsidies given to aircraft manufacturer Airbus.

Chairman and CEO of Pernod Ricard, Alexandre Ricard said the company will be forced to increase retail prices in the US for brands such as Glenlivet Whisky and Campo Viejo wine.