EU objects to Unilever purchase August 19, 2010 The EU could scupper Unilever’s purchase of parts of Sara Lee’s European business, after its anti-trust agency filed a formal objection to the €1.3bn (£1.07bn) acquisition yesterday. The company said yesterday it hopes to come to a “positive agreement” by the end of the year, allowing the takeover of Sara Lee’s shower-gel and detergent businesses. [...]
Investors flock to defensive stocks as FTSE inches higher August 12, 2010 BRITAIN’S top share index ended higher yesterday after defensives gained, led by pharma firm GlaxoSmithKline after US authorities recommended approval of its Potiga epilepsy drug. The FTSE 100 ended up 20.85 points, or 0.4 per cent, at 5,266.06, having hit its lowest close in three weeks on Wednesday when it fell 2.4 per cent to [...]
Nestle ups outlook as business booms in emerging markets August 11, 2010 SWISS food giant Nestle raised its full-year outlook yesterday after buoyant demand for its strong brands in emerging markets boosted sales in the first half. The world’s biggest food group said its food and beverages business should show underlying sales growth of around five per cent. So far the group – whose brands include Nescafe [...]
Unilever CEO raises stake as shares fall August 10, 2010 UNILEVER chief executive Paul Polman has increased his stake in the Anglo-Dutch consumer product firm, taking advantage of a heavy fall in the price of the shares last week. Polman has spent over €900,000 (£748,000) buying Unilever’s Amsterdam-listed shares since Friday, bringing his stake up to 84,471 shares, according to Dutch securities regulator AFM. He [...]
Unilever profit rises but fails to impress August 5, 2010 CONSUMER goods giant Unilever warned of rising pressure from rivals and higher commodity costs yesterday as it missed analysts’ forecasts with a 3.6 per cent rise in second-quarter sales despite strong emerging market growth. Unilever’s caution reflects the message from competitors like Procter & Gamble who have to spend heavily on new products to attract [...]
FTSE ends lower as Barclays leads banking sector retreat August 5, 2010 BRITAIN’S top shares closed down yesterday, with Barclays leading banking shares lower after it posted first-half numbers and downbeat US weekly jobless claims data later in the day only adding to the downward pressure. The FTSE 100 closed down 20.38 points, or 0.4 per cent, at 5,365.78, having fallen back from a session high of [...]
Top firms in a bid to fill pension gap August 3, 2010 BRITAIN’S top companies doubled the amount they paid into pension schemes in 2009 compared to 2008, according to a report by actuaries Lane Clark & Peacock (LCP). In an attempt to plug gaps in company pension schemes, FTSE 100 firms put £17.5bn into defined benefit schemes in 2009, a rise of 50 per cent on [...]
BEST OF THE BROKERS July 27, 2010 NATIONAL GRID Standard & Poor’s Equity Research (S&P) believes National Grid has delivered a strong operational and financial performance and gives it a “hold” rating. S&P said in the first quarter of 2011, US gas distribution volumes increased by 1.5 per cent and electricity was up 1.3 per cent, but UK gas volumes fell by [...]
Birds Eye will pay €805m to buy Findus ? July 19, 2010 UNILEVER has agreed to sell its Italian frozen foods unit Findus to Birds Eye Iglo, which is owned by private equity group Permira, for €805m (£687.9m). The sale represents the disposal of Unilever’s last remaining frozen foods business in Europe. Unilever said in a statement that about 650 factory and head office staff at Findus, [...]
Unilever sells Findus for €805m July 19, 2010 UNILEVER has agreed to sell its slow-growing Italian frozen foods unit Findus to Birds Eye, which belongs to private equity group Permira for 805m euros (£687.9m). The disposal of Unilever’s last remaining frozen foods business in Europe reunites it with Birds Eye Igloo which the consumer goods giant sold in 2006 for 1.73bn euros. Unilever [...]