Shares in Tesco closed nearly 7 percent lower, after the supermarket slashed profit expectations for the year and cut its dividend.» Read More
LONDON— Tesco shares have dropped sharply after Britain's largest retailer by revenue issued another profit warning and slashed its dividend to shareholders by 75 percent. Tesco says Dave Lewis, most recently an executive at Unilever, would start his job as CEO on Monday, a month earlier than planned.
HAVANA, Aug 21- Cuba has yet to attract new foreign investors despite launching two major initiatives in the past year, a sign of the lingering caution over doing business with the communist government and its own hesitancy to follow through on free-market-style reforms.
FRANKFURT, Aug 7- Nivea skin cream maker Beiersdorf reported lower-than- expected quarterly results and struck a slightly more cautious approach for its full year outlook as growth in once promising emerging markets stuttered.
ZURICH, Aug 7- Nestle announced an 8 billion Swiss franc share buyback on Thursday and revealed stronger sales growth in emerging markets in contrast to other big consumer products companies.
ZURICH, Aug 7- Nestle, the world's biggest food group, announced an 8 billion Swiss franc share buyback and stood by its full-year sales forecast on Thursday, after revenue growth in emerging markets picked up in the second quarter.
FRANKFURT, Aug 2- Unilever would need to cut more jobs in Europe if real income levels among consumers fall, weighing on demand for brand-name items, Chief Executive Paul Polman was quoted as saying in an interview on Saturday.
FRANKFURT, Aug 2- Unilever will cut more jobs in Europe as real income levels among consumers fall, weighing on demand for brand-name items, Chief Executive Paul Polman was quoted as saying in an interview on Saturday.
*New CEO Lewis, from Unilever, first external CEO in 95 yrs. *Unilever a big Tesco supplier, Lewis close to Tesco execs. The 49- year-old earned the nickname during his 27 years at Unilever, where he turned around a string of operations including the consumer giant's British business, cutting costs and energising staff with innovative marketing campaigns.
India stocks are headed for a correction in the near term, emerging markets guru Mark Mobius said, as the pace of reforms is likely to disappoint.
LONDON, July 29- Weak consumer spending and intense competition among retailers are forcing some makers of packaged goods to lower their prices, intensifying the threat of euro zone deflation.
*CFO says Danone 2020 plan is "not a strategic review". PARIS, July 25- Food group Danone is confident of hitting full-year targets despite a weak first-half as it looks to a stabilization of European dairy revenues this year and the launch of new baby food products in China.
NEW DELHI, July 25- Software engineer Sanjay Bhatnagar used to watch a new Bollywood movie every week with his family, but now goes to the cinema once a month as spiraling costs of food and other staples eat into his budget for non-essentials.
LONDON, July 24- Unilever missed second-quarter sales expectations on Thursday, citing a slowdown in emerging markets and declining prices in developed ones. "Overall there's a slowdown in Asia," Chief Financial Officer Jean-Marc Huet told Reuters, citing China and Vietnam in particular.
The pan-European FTSEurofirst 300 slipped 0.2 percent in early trade to 1,372.80 points, with benchmark indexes in France, Germany and the UK down 0.3 to 0.6 percent.
The pan-European FTSEurofirst 300 slipped 0.2 percent in early trade, to 1,372.80 points, with benchmark indexes in France, Germany and the UK down 0.3 to 0.6 percent.
Paul Polman, CEO of Unilever, says the Federal Reserve's quantitative easing program is to blame for a slowdown in the emerging markets as it has delayed the need for structural reforms.
July 18- Advertising company Interpublic Group of Cos Inc reported better-than-expected quarterly revenue, boosted by strong growth in the UK and higher ad spending in its core U.S. market. Interpublic's clients include General Motors, Unilever and Johnson& Johnson.
*To be replaced by Unilever exec Dave Lewis. LONDON, July 21- Tesco is to ditch chief executive Philip Clarke and replace him with a turnaround specialist from Unilever, ending a disastrous three year reign as Britain's biggest retailer warned it would again miss profit forecasts.
Tesco said its CEO Philip Clarke would quit, to be replaced by Unilever executive Dave Lewis, after it issued a profit warning.
LONDON, July 21- Britain's biggest retailer Tesco said on Monday its chief executive Philip Clarke would quit, to be replaced by Unilever executive Dave Lewis, after it issued a profit warning.