Unilever hit by rising commodity prices despite positive sales growth July 22, 2021 Consumer goods giant Unilever has drawn back its full-year operating margin forecast as commodity costs have surged in the past six months. The group, which owns Dove and Hellmann’s, turned over €25.8bn in its half-year results – just 0.3 per cent more than last year. However, the group has already raked in a further €13.5bn [...]
‘Severe consequences’: Israel warns Unilever against Ben & Jerry’s West Bank boycott July 20, 2021 Israel has warned consumer goods giant Unilever of “severe consequences” if its subsidiary Ben & Jerry’s upholds its decision to boycott the West Bank. Vermont-based ice cream company Ben & Jerry’s said it plans to stop selling ice cream in Israeli-occupied territories yesterday. However, Israel’s prime minister Naftali Bennett urged the US to invoke anti-boycott [...]
How to build an ethical business July 12, 2021 The demand for businesses to be ethical is rising. But how can companies ensure that sustainability does not come at the cost of financial stability? Christian Koch investigates. This article was written before the coronavirus pandemic had escalated in the UK, Europe and the USA and first appears in the April 2020 issue of CA magazine. [...]
FTSE 100 drops while industrial stocks boost mid-caps June 18, 2021 London’s FTSE 100 dipped this morning after a fall in heavyweight oil majors BP and Royal Dutch Shell dragged down the index. The blue-chips fell by 0.5 per cent at the open, with oil dips offsetting gains in large dollar-earning consumer staples firms including Unilever and Diageo. These companies benefitted from a weaker pound, as [...]
US stocks open near record highs while FTSE 100 stays in the green June 15, 2021 US stocks opened near record highs today as attention turned to the Federal Reserve for cues on whether a jump in inflation will prompt a tapering in monetary policy. The Dow Jones Industrial Average was up 0.1 per cent, while the S&P 500 opened flat, remaining near an all-time time. Meanwhile, the Nasdaq Composite was [...]
City Moves: Who’s switching jobs in the Square Mile this week? May 26, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Johnson & Johnson hires EU consumer health director US pharmaceutical giant Johnson & Johnson has hired a new London-based area managing director for consumer health in northern Europe. Charmaine England, who [...]
Wall Street closes lower on inflation jitters May 10, 2021 Wall Street closed lower on today as inflation fears drove investors away from market-leading growth stocks in favour of cyclicals, which stand to benefit most as the economy reopens. Industrial and healthcare shares limited the Dow’s decline but the blue-chip average reversed course late in the session to snap a three-day streak of record closing [...]
BNP Paribas urges investors to pressure politicians on climate rules May 10, 2021 Bank BNP Paribas has begun urging investors to press politicians to commit to the Paris Agreement with policy and make rules for net-zero targets. Investors are failing to chase strong climate policies, global head of sustainability at BNP Paribas Asset Management, Jane Ambachtsheer, told Bloomberg. Instead of chasing policies, however, investors should start chasing politicians [...]
Analysis: Extending superdeduction to creative industries would make a difference May 9, 2021 One of the most eye-catching measures in Rishi Sunak’s latest Budget was the introduction of the “super deduction” regime which will allow businesses to offset 130% of investment spending on plant and machinery against profits for the next two years. So, spend £10m on new equipment and firms reduce taxable income by £13m. This is [...]
Gousto taps City bigwig Garrett-Cox as chair ahead of stock market float May 7, 2021 Recipe box firm Gousto has tapped one of Britain’s most prominent businesswomen as its next chair as it gears up for a potential stock market float. The meal kit company, which was founded in 2012, has agreed the appointment of Katherine Garrett-Cox to lead the company through a listing. The appointment is expected to be [...]