A new mood of fear is pulling down markets February 7, 2010 THE TERM double-dip is over-used; our viewers always get upset with us if we refer to it too often. But where is this cycle going? It’s certainly not looking good. February seemed to start off well with decent earnings reports and some stronger data from the US, but at the end of last week sovereign [...]
FTSE at lowest level in three months as bank shares drop February 4, 2010 WORRIES about the global economy pushed Britain’s top share index to its lowest close in three months yesterday as spiking risk aversion hammered banks and miners while energy stocks fell on weaker commodity prices. The FTSE 100 ended 113.84 points or 2.2 percent lower at 5,139.31, its lowest close since 5 November, having snapped a [...]
Unilever falls on fears over competition February 4, 2010 FOOD and household goods giant Unilever reported forecast-beating sales growth for 2009 yesterday, but saw its shares slide on doubts over increased competition in Europe. The company, whose brands include Persil detergent and Lipton tea, increased full-year sales to 3.5 per cent – 10 basis points ahead of analyst expectations. Fourth quarter sales expanded 1.8 [...]
CITY MOVES | WHO’S SWITCHING JOBS January 31, 2010 BlackRock The asset manager has hired Kendrick Wilson, a former Goldman Sachs banker and ex-US Treasury adviser, as a vice chairman. Wilson joined the US Treasury in 2008 to advise then- secretary Hank Paulson on how best to navigate the financial crisis. BlackRock chief Larry Fink said: “[Wilson’s] unique perspective, informed by his vast experience [...]
Sugar Puffs owner to join AIM as it looks to raise funds January 18, 2010 FOOD manufacturer Big Bear Group has confirmed plans to join the Alternative Investment Market (Aim) in a move which could value it at more than £75m. The owner of the Sugar Puffs and Fox’s Glacier Mints says it will use the cash raised to cut debt, develop its existing brands further and pay the costs [...]
Unilever boss spurns London January 17, 2010 New Unilever chief executive Paul Polman has dealt the government another blow by electing to remain resident in Switzerland rather than relocate to the UK’s less tax-friendly shores. Polman, who recently warned in a speech that British politicians need to recognise the importance of creating a climate “in which businesses can prosper and compete”, was [...]
Unilever gets the City’s approval as it hires new finance chief December 16, 2009 CONSUMER products giant Unilever yesterday named Jean-Marc Huet as its new chief financial officer, following the resignation of James Lawrence last week. Huet is currently chief financial officer of Bristol-Myers Squibb and will make the switch to Unilever in the New Year. “We are delighted to have attracted a candidate of Jean-Marc’s talent and experience,” [...]
Unilever to appoint ex-Bristol Myers man as next CFO December 14, 2009 UNILEVER, the company behind Marmite, Magnum ice creams and Dove soap, is poised to appoint Jean-Marc Huet as its next chief financial officer, City A.M. can confirm. Sources said Unilever will announce the appointment either today or tomorrow. Huet resigned as finance chief of Bristol-Myers Squibb yesterday. The pharmaceutical company said he would leave at [...]
Top businesses urge Gordon Brown to fight for emissions cut in Copenhagen December 2, 2009 SOME of Britain’s biggest businesses are today urging the Prime Minister to fight for a global cut in carbon emissions at next week’s climate change negotiations in Copenhagen. The Prince of Wales’s Corporate Leaders Group on Climate Change – which includes firms such as Shell, Tesco and Unilever – will tonight present a communiqué endorsed [...]
M&S and ITV brighten up dull day of trading for FTSE November 18, 2009 THE UK’s main market ticked down slightly yesterday, as an unexpected drop in US housing figures spooked investors and weakness in food retailers and tobacco firms outpaced gains in miners and energy companies. The FTSE100 closed 0.1 per cent lower at 5,342.13 with Cable & Wireless, Unilever, Vodafone and HSBC going ex-dividend. Marks & Spencer [...]