Unilever Price Hikes Force Customer Trade Downs: The London Rush

(Bloomberg) — Here’s the key business news from London-listed companies this morning.

Unilever Plc: The consumer group is still pushing up prices as it faces the biggest cost surge in decades with inflation hitting many of its key markets.

Those higher prices, however, have impacted volumes as consumers start to trade-down from name brands like Dove soap and Surf detergent to cheaper alternatives

EasyJet Plc: The low-cost airline took a £133 million cost impact from disruption to summer travel, as staff shortages and soaring demand roiled the aviation industry.

The carrier still operated 95% of its planned schedule in the three months through June despite the upheaval, and expects to fly about 90% of pre-pandemic levels in the fourth quarter

Rolls-Royce Holdings Plc: The industrial company named oil-industry veteran Tufan Erginbilgic as its next chief executive officer, replacing Warren East when he steps down at the end of this year.

Tufan spent 20 years at BP Plc, and led the firm’s downstream business before leaving in 2020

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