We’re not performing warns new Unilever CEO as turnaround launched October 26, 2023 Boss Hein Schumacher said the outfit is not “reaching its potential” and productivity and returns have all “under-delivered”.
Unilever: All eyes on Ben & Jerry’s maker’s progress after leadership shakeup October 22, 2023 Investors will turn their focus to Unilever’s third quarter on Tuesday results to see how the ice cream and deodorant maker is faring after a leadership shakeup. New chief executive Hein Schumacher officially took over from his predecessor Alan Jope back in July, telling investors at the time he wanted to see more of its [...]
Taskforce unveils UK ‘gold standard’ guidelines for firms to share green plans October 9, 2023 A Treasury taskforce has revealed its “gold standard” guidelines for companies to report their plans to tackle climate change.
Croda: FTSE chemicals giant’s share price drops after outlook slashed October 9, 2023 British speciality chemicals group Croda International cut its 2023 profit outlook on Monday, due to destocking and weak demand, particularly in its beauty care business in North America. The FTSE 100 company said it now expects 2023 group adjusted profit before tax of £300m to £320m pounds. It had forecast 370 million-400 million pounds previously. Following its profit outlook [...]
GSK raises £886m after offloading chunk of Haleon shares October 6, 2023 GSK has pocketed £886m after offloading a chunk of its stake in the spun off consumer healthcare arm Haleon, the firm announced this morning. The FTSE 100 healthcare giant announced yesterday that it would sell some 270m in ordinary shares at a price of 328p per share. The sale has now slashed the size of [...]
Mark Kleinman: Boardroom pay battle, the mentoring boon and the football funding row September 28, 2023 Mark Kleinman gets the Square Mile talking in his weekly City A.M. column: this week on boardroom pay, the mentoring boom and the football broadcasting row.
London-listed Mondi leaves Russia after agreeing to sell biggest paper mill September 18, 2023 UK paper and packaging giant Mondi has agreed to sell its largest Russian plant for around 775 million euros (£668 million) to a Moscow-based property development group. Mondi’s share price jumped by nearly five per cent on Monday morning after it unveiled the deal involving Syktyvkar, its last remaining plant in Russia and the country’s [...]
Wilko: High street chain collapsed owing £400m to creditors September 15, 2023 Wilko collapsed with a well over £400m gap in its finances, according to documents published on Companies House, including £157.3m owed to trade creditors. The reports, first published by The Grocer, show that the high street chain owed £411m to unsecured creditors, and a further £25.8m was owed to HMRC. Some of the creditors included [...]
Domino’s franchisee to declare Russian business bankrupt August 21, 2023 The Russian arm of fast food chain Domino’s is likely to close after its London-listed parent company decided to put it into bankruptcy. Apparently failing to find a buyer for the Russian business, DP Eurasia said it has decided its subsidiary should instead file for bankruptcy. The franchisee runs around 170 Domino’s pizza sites in the country, and had previously said it was “evaluating its presence” there. The Russian economy has been hit [...]
Coca-Cola HBC faces questions over Russia operations August 20, 2023 Questions are being asked about the extent of Coca Cola HBC’s operations in Russia after a report suggested the firm has not fully withdrawn from the country despite pledging to do so. The London-listed firm, which is the European bottler for the Coca-Cola Company, said in March 2022 that it was suspending all operations in [...]