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89-650: Danone S.A. ( French pronunciation: [danɔn] ) is a French multinational food-products corporation based in Paris . It was founded in 1919 in Barcelona, Spain . It is listed on Euronext Paris , where it is a component of the CAC 40 stock market index. Some of the company's products are branded Dannon in the United States. As of 2018, Danone sold products in 120 markets, and, in 2018, had sales of €24.65 billion. In

178-686: A 5% stake in Bright Dairy and, in March 2005, doubled its shareholding, and again, to 20%, in April 2006, becoming the third largest shareholder after Shanghai Milk Group and S.I. Food. The parties announced in October 2007 that Danone would divest its stake by selling it to the other two main shareholders at a small profit. Bright Dairy said Danone would pay 330m yuan (€31m) to terminate the existing distribution and production agreement with it. The Hangzhou Wahaha Group ,

267-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents

356-408: A consortium to bid for, and acquire the total capitalisation of Scottish & Newcastle. No formal offer had been put to S&N at the time. On 25 October, however, Heineken and Carlsberg announced that they had submitted a written proposal to S&N. They invited S&N to discuss a possible offer, the terms as to which they were prepared to proceed included a bid of 720 pence per share. The offer

445-498: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in

534-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to

623-612: A joint venture to carry out Technical Services work in the UK. Service Dispense Equipment Limited (SDEL) was formed from the dispense assets of both businesses. In 2006, S&N entered into a joint venture with the Swiss-based freight company, Kuehne and Nagel to set up a UK drinks distribution company (K+N Drinks Logistics). Some 3,000 S&N employees transferred to the new business. On 17 October 2007, Heineken International and Carlsberg jointly announced that they were considering forming

712-487: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized

801-588: A reorganization. This amounted to about 2% of its workforce. In late 2020, the entry of the London-based hedge fund Bluebell Capital as a shareholder of Danone put Faber’s position into question. In a letter sent to all shareholders in November 2020, they qualified Danone's stock market performance under Faber of overall "disappointing", arguing that "the right balance between shareholder value creation and sustainability issues" had not been struck under his tenure. After

890-594: A sharper focus on its nutrition offerings. In March 1996 Danone signed an agreement to purchase 20 percent of the Strauss Group , Israel's second largest food manufacturer. Since the 1970s, Strauss Dairies had a series of partnership and knowledge agreements with Danone. Danone has invested in China since 1987 with the joint venture with Fengxing Milk in Guangzhou. It is one of Danone's top 5 markets. In 2001, Danone acquired

979-512: A stake in the Wahaha companies external to the joint venture, but was rebuffed by Wahaha's General Manager Zong Qinghou. Danone and Zong Qinghou had signed a deal in December 2006 allowing Danone to buy a majority stake in these non-JV operations. However, Zong had second thoughts about the deal and reneged, claiming the offer was underpriced and held out for a higher price from Danone. The dispute took on

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1068-550: A strategic investment (4.0%) in Mengniu, the top dairy products company in China, through an agreement with COFCO (the state-owned largest food company in China a majority shareholder in Mengniu). Later on, Danone raised its interest in Mengniu from 4.0% to 9.9%. In 2016, Danone is Mengniu's second shareholder. In addition, in May 2013, a joint-venture was created between Danone and Mengniu to grow

1157-529: Is a joint Saputo Dairy Australia venture with French food company Danone – to market yoghurt and other fresh dairy products in Australia. Danone-MG dairy foods are produced at Kiewa in north east Victoria and are sold throughout Australia. In November 2005, Franck Riboud met Muhammad Yunus , founder of the Grameen Bank and later winner of the 2006 Nobel Peace Prize . The two men discussed at length their ideas on

1246-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in

1335-449: Is sold for six euro cents, a price that studies found to be affordable for the poorest families. Its pursuit of profitability is based solely on criteria such as improving public health, creating jobs, reducing poverty and protecting the environment. Profits earned by the company are re-invested in expanding and running the business. Danone started its nutrition business in India in 2012 through

1424-643: Is split as follows: 43% is owned by American investors, 19% by French investors, followed by the UK (10%), Switzerland (6%), Germany (5%) and the rest of Europe (17%). In some areas, Danone has adopted a strategy of growth through joint ventures, particularly in fast-growing emerging markets which represent over 50% of its sales. Danone signed joint ventures with Al Safi in Saudi Arabia (2001), Yakult in India (2005) and Vietnam (2006), Alquería in Colombia (2007), and Mengniu in China (2013–2014). Danone Murray Goulburn

1513-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon

1602-761: The Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include the Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over

1691-465: The Russian invasion of Ukraine had put multinational businesses in a delicate position, Russia seized control of Danone Rossiye, putting it under "temporary management" of the state. In February 2024 it was rumoured that Ramzan Kadyrov or his nephew Yakub Zakriev would take over the unit, for under $ 200 million. On 13 March Vladimir Putin decreed the removal of the temporary management order; this opened

1780-650: The 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from the Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for

1869-713: The African continent, notably with the acquisition of a controlling interest in Centrale Danone in Morocco and equity interests in Fan Milk in West Africa and Brookside in Kenya. In 2014, Emmanuel Faber became CEO. Danone was present in 130 markets and generated sales of US$ 25.7 billion in 2016, with more than half in developing countries. In 2015, fresh dairy products represented 50% of

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1958-546: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are

2047-700: The Group sold its sauces business in the United Kingdom and in the United States ( HP Foods ), in January 2006, its sauces business in Asia ( Amoy Food ) was sold to Ajinomoto . Despite these divestitures, Danone continues to expand internationally in its three core business units, emphasising health and well-being products. In July 2007, it was announced that Danone had reached agreement with Kraft Foods Inc (now Mondelēz International ) to sell most of its biscuits division, including

2136-557: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from

2225-661: The LU and Prince brands but excluding Latin American ( Bagley ) and Indian ( Britannia Industries ) units, for around €5.3 billion. Also in July 2007, a €12.3 billion cash offer by Danone for the Dutch baby food and clinical nutrition company Numico was agreed to by both boards, creating the world's second-largest manufacturer of baby food. In 2009, the company changed its name from Groupe Danone to Danone. In 2007 Danone spent 12.3 billion euros on

2314-473: The Lyon region, produced bottles, industrial containers, flacons and table glassware (container glass). Glaces de Boussois, located in northern France, made windows for the building and automobile industries (plate glass). Three years earlier BSN had merged with Evian , Kronenbourg , Société Européenne de Brasseries and Blédina . The company changed its name to Groupe Danone in 1983. The acquisitions initially took

2403-505: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across

2492-545: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,

2581-458: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use

2670-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax

2759-472: The UK trading operation of Heineken International until 2009, when it was renamed Heineken UK. The former S&N Pub Enterprises leased pub division was rebranded as S&N Pub Company after the takeover. In 2012, it was rebranded again to Star Pubs & Bars , bringing an end to Scottish & Newcastle brand. The origins of the company can be traced to Grizel Syme who ran her late second husband's brewery: this brewery and those of her sons developed into

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2848-586: The UK via a number of acquisitions in Western Europe, growing sales to over 50 Mhl per annum. Acquisitions included Kronenbourg . By acquiring Hartwall in 2002, Finland's leading beverage company business, S&N became 50% owners of Baltic Beverages Holding (BBH) encompassing brewing interests in Russia, Ukraine, Kazakhstan and the Baltic Countries of Latvia, Lithuania and Estonia. The remaining 50% of BBH

2937-627: The UK where it was noted by analysts that the cost base was too high. During the year, the Fountain Brewery in Edinburgh was closed, followed some months later by the Tyne Brewery in Newcastle . This was followed in 2005 by the closure of distribution depots at Bow, Chelmsford and Maidstone with the task being integrated into Dagenham Regional Distribution Centre and depots at Hackbridge and Croydon with

3026-527: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in

3115-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with

3204-609: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by

3293-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in

3382-553: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that

3471-738: The VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization , the European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in

3560-498: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of

3649-459: The acquisition of the nutrition portfolio from Wockhardt Group . Danone India offers a range of specialized products across life stages that includes pregnancy, infants, young children as well as adults, under Indian and global brands like Aptamil, Neocate, Farex, Protinex, Dexolac and Nusobee. Headquartered in Mumbai. In 2018, Danone reduced its product portfolio and discontinued some dairy SKUs to bring

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3738-462: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,

3827-673: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding

3916-650: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices

4005-508: The company abandoned glassmaking by disposing of Verreries Boussois. In 1987, Gervais Danone acquired European biscuit manufacturer Générale Biscuit , owners of the LU brand , and, in 1989, it bought out the European biscuit operations of Nabisco , The operation included UK manufacturers Huntley and Palmers , Peek Frean , and Jacob's , which had previously merged to form Associated Biscuits Ltd. In 1994, BSN changed its name to Groupe Danone, adopting

4094-428: The company changed its name to Heineken UK Ltd. to reflect the owner's name. Scottish & Newcastle employed 40,000 people in the United Kingdom and mainland Europe, brewing beer at: S&N owned or co-owned three of the top ten beers in Europe. In addition to these key brands, its portfolio included other well-known drinks brands (acquirer in brackets): Brands licensed to them included: The Hofmeister brand

4183-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet

4272-532: The consortium announced a formal cash offer for the entire S&N business at £8 per share. This offer had the full support of the S&;N Board and was recommended to shareholders. On 31 March 2008, shareholders approved the £7.8 billion takeover by Heineken and Carlsberg. The acquisition was completed on 29 April 2008 as S&N's shares were delisted from the London Stock Exchange . On 23 November 2009,

4361-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as

4450-476: The current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with the history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were the British East India Company founded in 1600 and

4539-697: The debate from a neo-liberal perspective in Storm over the Multinationals (1977). Scottish %26 Newcastle Scottish & Newcastle plc was a brewing company headquartered in Edinburgh , Scotland, which expanded from its home base to become an international business with beer volumes growing almost tenfold. The company was listed on the London Stock Exchange until it was acquired by Heineken and Carlsberg in 2008 and its assets split between them. The name Scottish & Newcastle continued to be used for

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4628-560: The development of poor countries and found that their areas of expertise were complementary. As a result, in 2006, the Grameen Bank and Danone formed a company called Grameen Danone Foods, a social business in Bangladesh. Grameen Danone Foods Ltd. produces a yoghurt called Shokti Doi containing protein , vitamins , iron , calcium , zinc , and other micronutrients aimed to fill nutritional deficits of children in Bangladesh. Shokti Doi

4717-608: The family's businesses in France and Spain, and the American business was sold to Beatrice Foods in 1959; it was repurchased by Danone in 1981. In Europe in 1967, Danone merged with Gervais, the leading fresh cheese producer in France, and became Gervais Danone. In 1973, the company merged with bottle maker Boussois-Souchon-Neuvesel (BSN), which was formed by the merger of Glaces de Boussois, France's 2nd-largest producer of flat glass, with Lyon-based Verreries Souchon-Neuvesel, France's top producer of bottles and jars. Souchon-Neuvesel, based in

4806-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of

4895-497: The firm of William Younger & Co. It merged with McEwan's in 1931 becoming Scottish Brewers. In 1960 it merged again this time with Newcastle Breweries to form Scottish & Newcastle. By 1985, the company had become a regional brewer focused on Scotland and the North of England . By 1995, with the purchase of rival brewing business Courage , S&N had become the UK's leading brewer. In early 2000, S&N expanded outside

4984-456: The first half of 2018, 29% of sales came from specialized nutritional preparations, 19% came from branded bottled water, and 52% came from dairy and plant-based products (including yogurt ). Danone was founded by Isaac Carasso (born İzak Karasu), a Thessaloniki -born Sephardic Jewish physician from the Ottoman Empire , who began producing yogurt in Barcelona , Spain in 1919. The brand

5073-461: The fresh dairy product category. On 31 October 2014, Danone, Mengniu and Yashili announced that they had signed an agreement allowing Danone to take part in a private placement by Yashili totalling €437 million, at a price of HK$ 3.70 per share. Upon completion of the subscription, Mengniu and Danone respectively held 51.0% and 25.0% equity interest in Yashili. Multinational corporation Most of

5162-561: The group sold 56% and 44% respectively of its glass-containers business. In 2000, the group also sold most of its European beer activities (the brand Kronenbourg and the brand 1664 were sold to Scottish & Newcastle for £1.7 billion. Its Italian cheese and meat businesses ( Egidio Galbani Spa ) were sold in March 2002; as were its beer producing activities in China. The company's British ( Jacob's ) and Irish biscuit operations were sold to United Biscuits in September 2004. In August 2005,

5251-421: The group's total sales, baby food 22%, branded water 21%, and medical nutrition 7%. In 2017, Franck Riboud became honorary chairman and Faber became chairman as well as retaining his CEO position. In 2018, Danone rebranded its DanoneWave subsidiary, formed after the 2017 acquisition of WhiteWave Foods ( Alpro ), into Danone North America. In 2020, Danone announced that It would cut up to 2,000 jobs as part of

5340-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to

5429-516: The international oil market. Iran was unable to sell any of its oil. In August 1953, the then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by

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5518-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as

5607-418: The largest beverage producer in China, and Danone entered into a dairy products joint venture in 1996, in which Danone held 51%. It was hailed by Forbes magazine as a "showcase" joint venture. Yet in 2005, Danone noted that alongside the 39 structures of the joint venture, 60 factories and distribution companies produce and sell beverages illegally under the Wahaha brand. Danone made several attempts to take

5696-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)

5785-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,

5874-488: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent

5963-531: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without

6052-441: The merger, Unimilk had 28 facilities in Russia, Ukraine, Belarus, and Kazakhstan. The united Danone-Unimilk company had 18,000 employees in the Commonwealth of Independent States . The Wockhardt group's nutrition activities in India were acquired by Danone in 2012. In mid-February 2013 Danone announced their intention to cut 900 jobs or about 3.3 percent of their 27,000 person European workforce. Since 2013, Danone has grown on

6141-447: The name of the group's best-known international brand. Franck Riboud succeeded his father, Antoine, as the company's chairman and chief executive officer in 1996 when Riboud senior retired. Under Riboud junior, the company continued to pursue its focus on three product groups (dairy, beverages, and cereals) and divested itself of several activities which had become non-core including Amora , Liebig , and Maille brands. In 1999 and 2003,

6230-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in

6319-488: The publication of only slightly comforting 2020 results and disappointing first trimester turnover figures, Bluebell Capital's activism paid off and Faber was ousted in mid-March 2021. On May 16, 2021, the arrival of Antoine Bernard de Saint-Affrique as the next CEO of Danone was announced, to be effective on September 15. In 2023, Danone Manifesto Ventures, the venture-capital arm of Danone invests in Israel cell-based dairy and infant-milk producer Wilk. In July 2023 after

6408-451: The purchase of the baby and medical nutrition business of Dutch rival Numico . In 2010 Danone plunged into the Russian market by acquiring OAO Unimilk's companies. The share of Unimilk was 21% of the Russian market. Danone was to hold 57.5 percent of the capital; it funded the acquisition by writing put options for Unimilk share owners. In 2009 Unimilk sales revenue was 969 million euros. As of

6497-595: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When

6586-631: The remainder of the London accounts being served by Greenford. The company began to use transit points in Chelmsford and Faversham as cheap logistical alternatives to full working depots. Reciprocal acquisitions saw the Caledonian Brewery in Edinburgh and the Northern Clubs' Federation Brewery in Gateshead added to the business. In February 2005, Scottish & Newcastle and Carlsberg UK finalised

6675-649: The shape of a trademark dispute, and Danone filed for arbitration in Stockholm on 9 May 2007. On 4 June, Danone filed suit in Los Angeles Superior Court against Ever Maple Trading and Hangzhou Hongsheng Beverage Co Ltd, companies controlled by Zong, his wife, and daughter. In 2009, an agreement was reached between the two parties. Danone left the Danone–Wahaha joint venture and sold its shares (51%) to its former Chinese partner. On 20 May 2013, Danone announced

6764-515: The shape of vertical integration, with BSN acquiring Alsatian brewer Kronenbourg and Evian branded mineral water who were the glassmaker's largest customers. This move provided content with which to fill the factory's bottles. In 1973, the company merged with Gervais Danone and began to expand internationally, including a rebranding of the Dannon yogurt brand in the U.S. and a successful ad campaign In Soviet Georgia that started in October 1976. In 1979,

6853-495: The strong influence of the United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against

6942-950: The way for a sale of the unit. Danone's head office has been located in the 9th arrondissement of Paris since 2002. Danone is led by a CEO and chairman as well as a board of directors. As of 26 April 2018 the 16 members of the Board of Directors are: As of 2021 the members of the executive committee are as follows: Danone's brand portfolio includes both international brands and local brands. In 2018, Danone's international brands include: Activia , Actimel , Alpro , Oikos, Aptamil , Danette (Danet in some regions), Danimals , Danio, Dannon , Danonino, Evian , Nutricia , Nutrilon , Volvic . Local or regional brands include: AQUA (Indonesia), Blédina (France), Bonafont (Mexico and Brazil), Cow & Gate (UK), Happy Family (USA), Horizon Organic (USA), Mizone (China and Indonesia), Prostokvashino (Russia), Silk (USA) and Damavand (Iran). Ownership of Danone

7031-484: The world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902) was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States

7120-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to

7209-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations

7298-438: Was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for the seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and

7387-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but

7476-571: Was immediately rejected by the Board of S&N, who believed that it significantly undervalued the worth of the S&N group. On 31 October, S&N announced that it had requested the Danish Courts to begin arbitration proceedings between itself and Carlsberg A/S in relation to the latter's alleged contractual infringements, relating to the joint ownership of Baltic Beverages Holdings (BBH). Carlsberg immediately countered that it believed S&N's claims were "spurious and without merit". A new offer

7565-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from

7654-463: Was made public on 15 November 2007 by Carlsberg and Heineken, raising the offer to 750 pence per share. The partners claimed this was "substantially in excess of the standalone independent value of S&N". On 17 January 2008, S&N announced that it was now in formal discussions with the consortium, following a revised proposal to purchase the business for £8 per share. On 25 January 2008, following limited due diligence and discussions with S&N,

7743-559: Was named Danone, which translates to "little Daniel", after his son Daniel Carasso . In 1929, Isaac Carasso moved the company from Spain to France, opening a plant in Paris. In 1942, Daniel Carasso moved the company to New York. In the United States, Daniel Carasso partnered with the Swiss-born Spaniard Juan Metzger and changed the brand name to Dannon to sound more American. In 1951, Daniel Carasso returned to Paris to manage

7832-842: Was owned by Carlsberg , which gained full control after the takeover of S&N in 2008. In July 2003, S&N acquired the Bulmers cider business, adding the Strongbow , Scrumpy Jack and Woodpecker brands to its portfolio, together with the UK's biggest cider mill and orchards in Hereford. In November 2003, S&N sold its remaining pub estate to the Spirit Group – retaining a successful tenanted pub management business (S&N Pub Company ) with contracts to look after some 2,000 pubs on behalf of banks and other pub companies. In 2004 some radical cost-cutting measures were introduced, particularly within

7921-503: Was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore, the United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production

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