City Snapshot: Reckitt Benckiser offloads baby milk business in China for $2.2bn

Reckitt Benckiser has agreed to sell its struggling baby formula business in China to a global investment firm for $2.2bn (£1.6bn). Plus, Tesco and Carrefour call it a day on purchasing alliance; and English sparkling wine producer Gusbourne increases sales thanks to DTC and international shift during Covid.