Unilever’s underlying sales growth accelerates in third quarter as it stays put in London HQ October 18, 2018 Anglo-Dutch consumer titan Unilever boosted underlying sales growth by 3.8 per cent in the third quarter as all three of its major divisions performed strongly. Turnover fell 4.5 per cent compared to the same quarter the previous year to €12.5bn (£11bn), however the company said this was largely due to disposals, including the £6bn sale [...]
Royal Mail ’embarrassed’ at lack of shareholder engagement over executive pay October 16, 2018 Royal Mail’s remuneration committee chair Orna Ni-Chionna told MPs today she was “embarrassed” at the failure to engage with its shareholders before a major revolt over the pay for its outgoing chief executive Moya Greene. Ni-Chionna, appearing before the Business, Energy and Industrial Strategy select committee, said it was a “huge disappointment” and “shock” that [...]
FTSE roundup: This week’s winners and losers October 5, 2018 The FTSE 100 ended the week nearly 86 points down today, with the index losing 1.16 per cent of its value. Unilever's shares are also down 0.4 per cent at 4,061p share following its reversal on its former plans to move headquarters exclusively to Rotterdam. Read more: Unilever scraps proposals to leave London headquarters Intu [...]
Unilever to stay on FTSE 100: How investors reacted October 5, 2018 Unilever’s awkward climbdown over its attempt to move its main listing to the Netherlands is unlikely to be the last, according to one financial expert, as investors reacted to the company’s decision to retain its London headquarters today. Unilever this morning pulled plans to make the Netherlands its sole headquarters and quit its UK offices, after [...]
Unilever scraps proposals to leave London headquarters October 5, 2018 Unilever has abandoned plans to leave its UK headquarters and move its primary listing to the Netherlands. The maker of Dove soap, Lynx and Marmite cited a lack of investor support today for its decision to scrap plans to make Rotterdam its sole HQ, ditching its London offices. Legal & General Investment Management, Schroders and M&G Investments [...]
Unilever’s board has now lost the Lynx effect with UK investors, a new era for spin city and a hand from above October 5, 2018 How ironic that one of the world’s great consumer marketing machines – responsible for brands like Lynx, Persil and Magnum – should be making such a hash of a sales pitch to its own investors. Unilever’s insistence that it remains “confident” of winning this month’s vote to scrap its British headquarters sounds more strained by the [...]
Another top Unilever shareholder says it will vote against Dutch move October 1, 2018 Another top shareholder of consumer giant Unilever has said it will vote down the company's plans to relocate its headquarters to the Netherlands. Asset management firm Schroders joined a growing list of investors who have vowed to reject Unilever's plan. In September, Aviva said the same thing, while top 10 shareholder Legal & General Investment [...]
Legal & General joins growing shareholder revolt against Unilever plans to quit London September 28, 2018 The investment arm of Legal & General (L&G) is set to vote against Unilever’s plans to ditch its London headquarters and the FTSE 100 to incorporate solely in the Netherlands next month. The investment giant took the unusual step of revealing its voting plans before Unilever’s crunch shareholder meeting on 26 October to decide its future. [...]
Unilever hits back over City fury at Dutch move September 25, 2018 Unilever has stepped up its charm offensive on City investors as it tries to combat a brewing shareholder revolt over plans to ditch its London headquarters. The consumer goods giant has organised meetings with the most vocal opponents of the plans in an attempt to assuage their fears, although its attempts to change minds have [...]
Insurance giant makes a £4.3bn bet on the future of Brexit Britain, Uni-leaving doesn’t make sense, and Macron’s not one to mince words September 21, 2018 The news that US insurance giant Marsh and McLennan has swooped on British rival Jardine Lloyd Thompson in a shock £4.3bn move sparked a lot of City chatter about the future of the sector. Will other US firms look to snap up UK rivals as they eye expansion? As one Lloyd’s veteran put it [...]