Unilever raises prices by 11% as it struggles with an ‘unprecedented cost scenario’
Unilever raised its product prices by 11 percent in the second quarter from a year earlier and raised its full-year sales guidance as it struggles to pass on more cost increases to consumers. The consumer goods maker said it had yet to pass on the full impact of rising input costs to buyers in what chief financial officer Graeme Pitkethly called a “truly unprecedented cost scenario”. He said Unilever is ramping up advertising to keep households loyal to its brands despite rising prices, and expects margins to remain lower for the rest of the year, with cost inflation expected which…
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Cryptocurrency Exchange Coinbase Faces SEC Securities Investigation – Bloomberg News
Route route links PMN Technology PMN Business Author of the article: Content of the article The US Securities and Exchange Commission (SEC) is investigating whether Coinbase Global Inc improperly allowed Americans to trade digital assets that should have been registered as securities, Bloomberg News reported Monday. In an emailed response, a Coinbase spokesperson told Reuters the company does not trade securities on its platform, while its chief legal officer Paul Grewal said they expected to engage with the SEC on the matter. “We are confident that our rigorous due diligence process, a process that has already been reviewed by the…
Read More »Sunak and Truss clash over city rules in the leaders’ debate
Prime Minister hopefuls clashed over the future of financial regulation in the City as “red tape” plays an increasingly prominent role in the race to become the next leader of the Conservative Party. In a televised debate in the central city of Stoke-on-Trent, Foreign Secretary Liz Truss criticized former chancellor Rishi Sunak for not moving quickly enough to scrap EU directives governing the city following Brexit “I would realize the opportunities post-Brexit,” Truss said. “I’d do things like change Solvency II and Mifid, and I’d get down to it, because I’m ready to take on the orthodoxy.” “I think we…
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Ant executives cut ties with Alibaba after China crackdown
Seven executives of Ant Financial have severed ties with the Alibaba Partnership, the body that elects the e-commerce giant’s board of directors. The moves, which follow a push by regulators in Beijing to split the two tech giants, were revealed when Alibaba’s annual report was released on Tuesday. Alibaba Group has amended its terms of partnership, which were created in 2010 and allowed a select group of people to appoint a majority of Alibaba’s board of directors. The terms now allow only Alibaba employees to be part of the partnership. Employees of Alibaba affiliates were no longer partners as of…
Read More »Heathrow and easyJet update on flight chaos as both reveal big financial hits | Business news
Heathrow Airport and easyJet, two of the airline industry players hit by this year’s flight chaos, have revealed major financial achievements as they describe how they are coping with the summer rush. The low-cost carrier said cancellations and delays caused by staff shortages at airports and in the air had cost it £133m in the last quarter to the end of June. EasyJet said its operations had now “returned to normal” after frantic cuts to its schedules since the end of the COVID pandemic restrictions in travel. Heathrow, which has also struggled to match the recovery in demand, painted a…
Read More »13 of our companies report earnings this week. This is what Wall Street expects
Traders work at the New York Stock Exchange (NYSE) on January 18, 2022 in New York City. The Dow Jones Industrial Average fell nearly 500 points in morning trading as investors weighed quarterly earnings and other economic news in a shortened trading week. Spencer Platt | Getty Images [ad_2] Source link
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Is the dollar about to turn around?
The writer is a professor of economics and political science at the University of California, Berkeley The dollar has had a spectacular run, having risen more than 10 percent against other major currencies since the start of the year. In fact, not a few governments and central banks would prefer the adjective “disastrous” to “spectacular”. For developing countries from Sri Lanka to Argentina, the rise of the greenback has made servicing dollar-denominated debts, an already difficult task, essentially impossible. For emerging markets like Chile that are not heavily burdened with debt, inflation has increased by pushing up the local currency…
Read More »Frontier Group Holdings Reschedules Second Quarter 2022 Financial Results Webcast | news
DENVER, July 25, 2022 (GLOBE NEWSWIRE) — Frontier Group Holdings, Inc., parent company of Frontier Airlines, Inc. (NASDAQ: ULCC), announced today that it has rescheduled the release of its second quarter 2022 financial results and webcast previously scheduled for Thursday, July 28, 2022. Instead, the company will release the second quarter 2022 results on Wednesday, July 27, 2022 after market close and will host a live webcast to discuss those results on the same day at 4:30 PM ET. The webcast will be available for a listen-only audience. To access the webcast or to pre-register for dial-in access, visit http://ir.flyfrontier.com….
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