Business
Ketchup giant Kraft Heinz to split in two ‘to unleash power of brands’
Food giant Kraft Heinz is poised to divide its sprawling operations into two independent, publicly traded companies, a decade after its formation through a major merger.
The move, confirmed on Tuesday following reports last week, comes as the company seeks to overcome recent struggles. Known for household staples such as ketchup, baked beans, Heinz soups, and HP sauce in the UK, the firm stated the overhaul is “designed to maximise Kraft Heinz’s capabilities and brands while reducing complexity”.
One part of the business will operate as Global Taste Elevation Co, which will include the group’s global brands and many of its sauces and tinned products.
This will include brands such as Heinz, Philadelphia and Kraft Mac & Cheese, the company said.
It will then also create the North American Grocery Co, focusing on staples in the US and other parts of the region, where it has brands including Oscar Mayer, Kraft Singles and Lunchables.
Carlos Abrams-Rivera, Kraft Heinz chief executive, said: “This move will unleash the power of our brands and unlock the potential of our business.
“This next step in our transformation is only possible because of the commitment of our 36,000 talented employees who deliver quality and value for consumers every day.
“We will continue to operate as ‘one Kraft Heinz’ throughout the separation process.”
The deal is expected to complete in the second half of next year, dependent on regulatory approval.
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The income tax department is analysing certain refund claims flagged by the system, either because they were “high-value” or due to deductions that required deeper scrutiny.
Income Tax Refund Delay.
Even as the income tax department ups its ante against the fake deductions, a section of taxpayers are still awaiting their tax return for this year. The refund delay 2025 comes even as the department is scrutinising bogus tax claims “red-flagged” by the system. Ravi Agrawal, chairman of the Central Board of Direct Taxation (CBDT), has said that the refunds would be cleared in December.
In November, the CBDT chairman said the department was analysing certain refund claims flagged by the system, either because they were “high-value” or due to deductions that required deeper scrutiny. He added that taxpayers have been advised to “file a revised return” wherever discrepancies exist.
When are income tax refunds usually issued?
Refund processing begins only after an ITR is successfully e-verified. Once that is done, the income tax department generally credits the refund within four to five weeks, as per the department’s guidelines.
This timeline is followed in most cases. When delays occur, they typically stem from common issues such as:
• An unvalidated bank account (mandatory for receiving refunds)
• An incorrect or inactive IFSC code
• A mismatch between the taxpayer’s name and the PAN details
• A discrepancy between the ITR and data in Form 26AS or the AIS
Missing an email or notification seeking clarification can also pause processing entirely.
How to check your income tax refund status
The refund status can be tracked anytime through the income tax portal. Here’s the step-by-step process:
Visit the portal at: eportal.incometax.gov.in/iec/foservices/.
Go to the e-Filing homepage.
Log in using your user ID and password.
Navigate to: e-File → Income Tax Returns → View Filed Returns
Select the relevant assessment year and click View Details.
This page will show whether your refund has been issued, is under review, or is pending due to additional information required.
Why are ITR refunds delayed in 2025?
Most delays arise from banking or identity-related discrepancies — wrong bank account numbers, invalid IFSC codes, unvalidated accounts, or PAN-Aadhaar linkage issues.
Refunds are also held back when deductions appear inaccurate or require supporting documentation. In such cases, the system routes the return for additional checks.
Mismatches between Form 16, Form 26AS and the AIS are another common trigger. Returns pulled into manual verification naturally take longer to process.
For a majority of taxpayers, refunds arrive within the usual four-five weeks. For others, the processing time depends on how quickly verification, bank detail correction, or responses to notices are completed. Ensuring that all records match and regularly checking the portal remain the easiest ways to avoid further delay.
Click here to add News18 as your preferred news source on Google. December 13, 2025, 15:46 IST
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Business
Home loan EMIs to get cheaper? SBI passes on RBI’s 25 bps repo rate cut benefits; check the new rates – The Times of India
After the Reserve Bank of India (RBI) reduced the repo rate by 25 basis points last week, several major banks have moved to pass on the benefit to borrowers. Latest addition to the wave is the State Bank of India (SBI), which announced cuts across its lending rate benchmarks, in a move aimed at easing borrowing costs and lowering EMIs for both retail and corporate customers.The public sector entity slashed the MCLR, EBLR and RLLR rates and revised the BPLR and base rates, according to ET.Herre are the new rates:
MCLR rates revised across tenors
SBI has cut its Marginal Cost of Funds-based Lending Rate (MCLR) across these tenors:Short-span
- Overnight and one-month MCLR: Reduced from 7.90% to 7.85% each.
- Three-month MCLR: Cut from 8.30% to 8.25%
- Six-month MCLR: Now at 8.60%, down from 8.65%
Long-term
- One-year MCLR: Lowered from 8.75% to 8.70% (widely used for retail loans)
- Two-year MCLR: Reduced from 8.80% to 8.75%, according to ET.
- Three-year MCLR: Now 8.80%, down from 8.85%
Effective 15 December this year, SBI also revised its External Benchmark Lending Rate (EBLR) and Repo Linked Lending Rate (RLLR):EBLR ratesDown from 8.15% + Credit Risk Premium (CRP) + Bank Spread (BSP) to 7.90% + CRP + BSP, reducing the benchmark by 25 basis points. The final interest rate payable will depend on the borrower’s CRP and the bank’s BSP.RLLR ratesFrom 7.75% + CRP, the figure came to 7.50% + CRP, reflecting a 25-basis point cut. Borrowers with EBLR- and RLLR-linked loans will see a decline in interest rates and EMIs based on their loan conditions and risk category, ET reported.BPLR ratesSBI has also revised its Benchmark Prime Lending Rate (BPLR) to 14.65% per annum.Base rate adjustmentsThe bank also cut it base rate to 9.90%, effective from 15 December 2025.
Matt Gravellingin Barking and Dagenham
BBCMore than 100 volunteers have gathered in an east London community hall to wrap thousands of Christmas presents for children across the capital, with organisers saying for some, it would be the only gift they would get this year.
The Kindness Offensive, a charity that redistributes donated goods to schools, food banks and community groups, was behind the gift drive.
David Goodfellow, the event’s organiser, said the project was focused on children from families facing hardship.
“For a lot of the children we are helping today, what they get from this project, what they get from the Kindness Offensive, is going to be the only thing they get for Christmas,” he said.
The gifts were donated by companies before being wrapped and loaded onto a red bus for delivery across the capital.
One volunteer said the event was about more than presents, and more about giving children hope.
Another woman said the event was a way to end the year “on a high”.
Dominic Twomey, leader of Barking and Dagenham Council, said child poverty remained a serious issue in the borough.
“We have four in 10 of our children under the age of 16 living in poverty,” he said, and added the gifts helped ease pressure on parents at a difficult time of year.
The bus delivering the presents made a stop at Becontree Primary School in Dagenham on Wednesday.
Pupils there did not know a surprise was waiting for them, said head teacher Marie Ziane.
“Not one of them who are going to come into the hall know about this,” she said.
“I’m really looking forward to the surprise on their faces.”
Organisers said the aim of the Kindness Offensive was to ensure no child felt forgotten at Christmas, particularly as families continue to struggle with the cost of living.
Volunteers said they hoped the gifts would bring some joy to children who might otherwise go without.
Refund Delay 2025: A Step-By-Step Guide To Check Income Tax Payout Status
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