Johnson Matthey banks on second half after sales drop July 23, 2020 Catalytic converter maker Johnson Matthey said that its first half performance had been “materially below” last year’s due to the coronavirus pandemic. The FTSE 100 firm said that a fall in sales in its clean air division as a result of lower demand and temporary shutdowns was the main cause of the decline. In a [...]
Unilever beats sales forecasts as it retains India tea arm July 23, 2020 Unilever beat analyst expectations of a drop in sales in its latest half-year results, it revealed today, as home and food sales offset declines elsewhere, it said today. The consumer goods behemoth beat analyst expectations of a 4.3 per cent drop in underlying sales, posting just a 0.3 per cent decline for the second quarter. [...]
Facebook and Instagram to examine algorithm in racial bias investigation July 22, 2020 Facebook has said it is establishing two new groups to assess whether its policies and algorithms are racially biased, following a major advertising boycott against the social media giant. Facebook will set up an Inclusive Product Council, with a similar Equity Team at its sister app Instagram, to explore whether there are “potential biases” across [...]
The Boohoo scandal shouldn’t shock anyone — modern slavery is a pandemic July 21, 2020 No brand today should be “shocked and appalled” at what happens in its own supply chain, as fast fashion brand Boohoo recently claimed to be. To know so little about the sourcing, processes and practices involved in creating a product you sell should be a crime itself. Tales of UK-based sweat shops and modern slavery [...]
Revolut backer Balderton sinks £8m into detergent startup Smol July 21, 2020 Detergent delivery startup Smol has today closed an £8m funding round, led by London venture capital giant Balderton. The funding was supported by Jamjar Investments, the venture capital firm co-founded by the founder of Innocent Drinks. Launched in 2018 by former Unilever employees Paula Quazi and Nick Green, Smol delivers laundry and dishwasher detergent in [...]
Shakespeare: Green tea push leaves PG Tips looking more sustainable July 15, 2020 At the end of 2019 single-use plastic reduction and sustainable packaging was high on the agenda of most businesses. Unfortunately, many sustainable packaging and refill schemes have been paused for reassessment as the coronavirus pandemic makes hygiene more important than ever. However, one brand which has pushed ahead with its sustainable product launch is Unilever’s [...]
Diageo to launch plastic-free Johnnie Walker bottles in 2021 July 13, 2020 Drinks giant Diageo will sell Johnnie Walker whisky in plastic-free bottles from next year as it seeks to reduce waste. The company announced this morning that it had created the fully recyclable bottle wood pulp that meets food grade standards in partnership with venture management firm Pilot Lite. The two firms launched a sustainable packaging [...]
Facebook fails to address ad boycott concerns at ‘disappointing’ summit July 8, 2020 Organisers of an advertising boycott against Facebook called a meeting it held with the firm’s executive team “disappointing”, as companies seek to pressure the tech giant into addressing hate speech on the platform. The groups, which includes the Anti-Defamation League (ADL), Free Press, Color of Change and the NAACP, said they saw “no commitment to [...]
Zuckerberg: Advertisers will be back on Facebook ‘soon enough’ July 2, 2020 Mark Zuckerberg has brushed off staff concerns of an ongoing advertising boycott at Facebook, saying it will have very little impact on the business. The Facebook chief executive told employees at an internal meeting last week that the move only affects a “small” chunk of its revenue, adding: “My guess is that all these advertisers [...]
Puma, Adidas, Microsoft and Ford join Facebook boycott June 30, 2020 Major global brands have joined a long list of companies that have withdrawn adverts from Facebook amid mounting pressure for the social media site to remove harmful and false content. Sportswear giants Puma and Adidas joined a raft of almost 200 major companies around the world including Reebok, Coca-Cola, and Starbucks, that have signed up [...]