Emerging markets push comes too late February 8, 2012 WHEN times get tough, branded products are the first things to go. British consumers know there is little difference between Fairy and a supermarket’s own-label washing up liquid. The trend is more pronounced among younger consumers, who will protect luxuries such as their iPhone and designer clothes by buying staples from the supermarket economy ranges. [...]
BEHIND THE SCENES FOR OSCAR HIT’S LEGAL FIXER February 7, 2012 PAUL RENNEY, a lawyer at Keystone Law, almost collected the Bafta for The King’s Speech – except the film’s producers were faster out of their seats than he was. Renney, as the hit’s legal adviser, was a stand-in at the event for screenwriter David Seidler, who was “annoyed” at not being flown over from the [...]
Outlook grim for Unilever as markets slow February 2, 2012 CONSUMER goods group Unilever said 2012 will be a difficult year as growth in emerging markets, which accounts for more than half its business, slows and demand in Europe and North America stays flat at best. The gloomy outlook sent shares in the Anglo-Dutch group sharply lower yesterday after it broadly matched 2011 sales growth [...]
FTSE sees boost from M&A muted by outlook warnings February 2, 2012 BRITAIN’S top share index paused yesterday after recent sharp gains with a rally in miners on the prospects of a big sector merger counterbalanced by warnings from bluechips of a tough year ahead. The FTSE 100 finished 0.1 per cent, or 5.35 points, higher at 5,796.07, retreating from a six-month intra-day high of 5,809.82 after [...]
Unilever warns of tough 2012 February 2, 2012 Consumer goods giant Unilever warned of a difficult 2012 due to a tough economic outlook after broadly matching 2011 sales forecasts after it hiked prices and saw strong emerging market growth. The Anglo-Dutch maker of brands like Hellmann’s, Knorr and Dove pushed up prices in the final three months of 2011 to offset higher commodity [...]
Pandit: jobs must be top priority for year ahead January 29, 2012 ON THE closing day of the World Economic Forum in Davos yesterday, chief executive Vikram Pandit told delegates that “jobs should be our number one priority” for this year. “Ultimately it is about growth. Nothing creates jobs better than growth,” said Pandit. He was one of five co-chairs for the event this year after being [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 17, 2012 FINANCIAL TIMES SURGE SEEN IN SELF-EMPLOYMENT A surge in self-employment is the result of people doing part-time odd jobs to avoid unemployment rather than a genuine increase in entrepreneurial zeal, according to the Chartered Institute of Personnel and Development. The self-employed have risen by 300,000 since spring 2008 to 4.14m – the highest since records [...]
DS Smith in £1.3bn deal for packager January 17, 2012 DS Smith is buying the recycled packaging operations of Svenska Cellulosa Aktiebolaget for €1.6bn (£1.3bn) in a move to secure more business from the world’s top consumer goods companies. The company said the acquisition, which excludes two mills in Sweden that use virgin pulp, would be financed by a combination of debt and £466m from [...]
BEST OF THE BROKERS January 12, 2012 UNILEVER Morgan Stanley rates the consumer goods group “equal-weight”, down from “overweight”, and has a target share price of €28 (£23.43). The broker notes that Unilever shares are at all-time highs and that investors should aim to take profits. Morgan Stanley also sees very limited scope for any earnings upgrades in 2012, leaving the shares [...]
FTSE rally ends as investors eye Eurozone bond auctions January 11, 2012 The rally on the FTSE 100 yesterday stalled in early trading today as concerns over upcoming Eurozone bond auctions and slightly weaker commodity stocks took their toll. Heavyweight miners failed to keep up the gains made yesterday which were fuelled by positive data from China showing the country’s demand for metals had risen. Wall Street [...]