By Richa Naidu and Chandini Monnappa (Reuters) -Consumer products giants including Unilever, Coca-Cola and Reckitt have shown they can raise prices to cope with higher costs, but investors told Reuters they want to see more innovation to drive dwindling sales volumes. Major consumer goods companies – from Nestle to P&G – have managed sharp rises …
Consumer goods makers flex pricing power in second quarter Read More »
By Shashwat Chauhan and Khushi Singh (Reuters) – UK’s FTSE 100 closed lower on Wednesday, weighed down by weak earnings from miner Rio Tinto and the exit of NatWest Group’s CEO, with investors also cautious ahead of an expected Federal Reserve interest rate hike later in the day. The blue chip index lost 0.2% ending …
FTSE 100 snaps six-day winning streak on dour earnings; NatWest falls Read More »
By Linda Pasquini and Helen Reid (Reuters) -German sportswear brand Puma’s second-quarter sales grew by 11%, the company reported on Wednesday, slightly ahead of market expectations thanks to stronger revenues from Asia and Europe, while the U.S. dragged. The sportswear sector is struggling with weakening demand in North America and a slower than expected recovery …
By Melanie Burton and Rishav Chatterjee MELBOURNE (Reuters) -Rio Tinto’s first-half underlying earnings fell to their lowest in three years as easing iron ore prices offset an uptick in shipments from its Pilbara operations, it said on Wednesday, while also announcing a dividend cut. Iron ore accounts for 70% of Rio Tinto’s profit and prices …
Rio Tinto profit misses on iron ore price slump, cuts dividend Read More »
By Sinead Cruise and Iain Withers LONDON (Reuters) – NatWest’s departing CEO Alison Rose until recently told colleagues she had weathered more than her fair share of crises, steering the state-backed lender through the COVID-19 pandemic and market fallout from war in Europe and chaos in Westminster. But ultimately it was committing the cardinal sin …
(Reuters) – UK’s Unite union on Wednesday said A.G. Barr’s workers will strike at the Irn-bru maker’s Cumbernauld production and distribution centre for nine days, starting August 11. Earlier this month, the union had said a dozen trucker and shunter drivers at the company would strike over a pay dispute, without specifying dates. (Reporting by …
Irn-bru maker A.G. Barr’s workers to strike from Aug 11 – union Read More »
By Maggie Fick and Radhika Anilkumar LONDON -GSK raised its full-year profit and sales guidance on Wednesday after its second-quarter earnings beat expectations, helped by strong sales of its shingles vaccine Shingrix and HIV medicines. The strong results may further help revive investor confidence in CEO Emma Walmsley, coming a year after the company spun …
GSK raises 2023 outlook boosted by vaccine, HIV drug sales Read More »
By Richa Naidu LONDON (Reuters) – Reckitt, maker of Lysol disinfectant and Durex condoms, said on Wednesday that “nothing has changed” in its promise from last year to begin a process “aimed at” transferring ownership of its Russian business. Several major Western consumer goods companies have fielded criticism for continuing operations in Russia since its …
Reckitt stays the course on process ‘aimed at’ transferring Russian business Read More »
PARIS (Reuters) -Shares in LVMH fell on Wednesday as an in-line increase in sales at the world’s top luxury indicated the overall sector was moving towards a less impressive path of growth. Despite a “solid” growth rate, the report “will likely trigger further questions…on whether we are now at the end of the positive earnings …
LVMH shares fall as second-quarter sales fail to impress Read More »
By Richa Naidu LONDON (Reuters) -France’s Danone said on Wednesday it will book a further 200-million-euro writedown on its Russia business after it was effectively taken over by the state, taking the overall writedown on its Russian operations to around 700 million euros. The company also took a 500 million “adjustment” on its balance sheet …
Danone writes down Russia assets, beats on like-for-like sales Read More »
