Bernie Ecclestone is to step down as a director of Formula One’s holding company until court proceedings against the billionaire businessman are concluded.

Foods group Nestle said today it had achieved a strong first half of the year after overcoming rising cost pressures and tough trading conditions.

Price increases in the UK and continental Europe helped to keep foods group Nestle on track for its full-year targets in the first quarter, it said today.

Kit Kat-to-Perrier group Nestlé recorded flat profits today as sales continued to suffer in the difficult European market.

Food giant Nestlé today missed profits forecasts after sales were knocked by poor weather and rising crop prices.