London Report: FTSE kept flat by Unilever and gold price slide October 1, 2013 LONDON’S top share index closed flat yesterday, as weakness in the gold price and poor sales from Unilever hit miners and consumer staples. The FTSE 100 edged down 2.21 points at the close, flat in percentage terms, to 6,460.01, with mining and consumer staples wiping more than 26 points off the index. Fresnillo fell five [...]
What the other papers say this morning – 1 October 2013 September 30, 2013 FINANCIAL TIMES Weidmann in sovereign debt warning Jens Weidmann, president of the Bundesbank, has risked angering Europe’s crisis-hit governments by warning of the dangers posed by high levels of sovereign debt on banks’ balance sheets. He wrote: “The time is ripe to address the regulatory treatment of sovereign exposures.” US asset managers face extra scrutiny [...]
Western retail business looks to Russian capital for new markets September 3, 2013 EUROPEAN retailers are increasingly shifting their focus eastwards, as Moscow becomes a top destination for shoppers and consumer spending. Mark Faithfull, the editor of Retail Property Analyst, said: “Moscow is the obvious starting point for international retailers looking to expand”. He added that while luxury products were the first to find the market, familiar brands [...]
Ex-Diageo boss Walsh joins United Spirits August 19, 2013 FORMER Diageo chief executive Paul Walsh is joining the board of Indian drinks group United Spirits, six weeks after Diageo became a major shareholder in the firm. Walsh, who stepped down from the top job at London-listed Diageo in July after 13 years, was yesterday appointed to the board of United with immediate effect. Diageo [...]
The big brands changing hands August 12, 2013 A HOST of big name brands were caught up in a swirl of M&A activity yesterday as dealmakers shunned the traditionally quiet August period to push through a raft of deals. Soup maker Campbell Soups, Steinway Musical Instruments, tinned fruit producer Dole and packaging business Pinnacle all announced deals yesterday in one of the [...]
Unilever offloads salad dressing August 12, 2013 PINNACLE Foods, the US packaged food business behind brands such as Birds Eye and Hungry Man, said yesterday it has agreed to buy Unilever’s Wish-Bone salad dressings business for $580m (£374.7m). The deal is the latest sale of a well-known food brand by the FTSE 100 consumer group, after it sold its iconic peanut [...]
Before the open – 06/08 August 6, 2013 Stocks are expected to open down in Europe, following US and Asian markets, on investor profit taking. $FTSE seen dwn 10 points on weaker US & Asia. $ULVR Unilever downgrde @ JPM, $GSK Glaxo downgrde @ Citi. $EMG Man Group Citi upgrade est. MB — IGSquawk (@IGSquawk) August 6, 2013 Morning ftse -20, dow -26, [...]
City Moves for 5 August 2013 | Who’s switching jobs August 4, 2013 Pramerica Real Estate Investors The real estate investment management business has announced the appointment of Eric Adler as chief executive. Adler is currently chief investment officer at Pramerica, having joined the company in 2010 as head of European operations. He was previously as Tishman Speyer, where he co-directed its European activities, and was a member [...]
Unilever feeling more cautious July 25, 2013 UNILEVER has become more cautious about prospects for emerging markets, a big growth driver for the consumer goods company which yesterday reported underlying second-quarter sales expansion shy of market expectations. The Anglo-Dutch maker of Ben & Jerry’s ice cream and Dove skincare products said yesterday emerging markets’ growth was slowing as a result of broader [...]
Unilever sales disappoint as emerging markets growth slows July 25, 2013 CONSUMER goods giant Unilever today posted underlying sales growth of five per cent in the second quarter of the year, falling short of forecasts, due to a slowdown in emerging markets. Emerging markets grew at 10.3 per cent, slightly down on 10.4 per cent in the previous quarter, while developed markets fell 1.3 per cent. [...]