Unilever faces fresh pressure over margins as it backs down on M&A
Unilever (ULVR.L) warned of a big hit to profit margins this year as it struggles to pass on higher costs to consumers, and ruled out major acquisitions after investor criticism of its failed pursuit of GlaxoSmithKline’s consumer health business.
Credit Suisse flags weak 2022, ends a torrid year with $2.2 bln quarterly loss
Credit Suisse (CSGN.S) on Thursday capped a scandal-ridden year with a $2.2 billion quarterly loss and said 2022 earnings would be weighed down by restructuring and compensation costs.
Car sharing and better algorithms – how Uber plans to impress during its investor day
Uber Technologies Inc (UBER.N) will outline its strategy for growth and new business opportunities when it holds its first investor day as a public company on Thursday, after teasing news on a global car-sharing network and improved algorithms to keep costs low.
Exclusive: New York pension fund to divest half its shale companies
New York’s state pension fund will sell $238 million worth of stock and debt it holds across 21 shale oil and gas companies including Chesapeake Energy Corp, Hess Corp (HES.N) and Pioneer Natural Resources (PXD.N), saying they have not shown they are ready to move to a low-emissions economy.
Explainer: Europe’s banks fear payment system could be casualty of Russia-Ukraine crisis
Amid fears of a Russian invasion of Ukraine, Italy’s UniCredit has backed out of a potential acquisition in Russia and Austria’s Raiffeisen Bank International has set aside risk provisions for possible sanctions on Russia.
Bunge quarterly profit rises 17% on agribusiness boost
Global farm commodities trader Bunge Ltd (BG.N) reported a 17.1% rise in fourth-quarter adjusted profit on Wednesday as large oilseed crops in North America and Europe and strong demand for processed meal and oil bolstered its core agribusiness.
Exclusive: Treasury wants to stir up U.S. alcohol market to help smaller players
The U.S. Treasury Department on Wednesday flagged concerns about consolidation in the $250 billion annual U.S. alcohol market and outlined reforms it said could boost competition and save consumers hundreds of millions of dollars each year.
GSK sees sales growth in 2022 after quarterly beat, prepares for spin-off
Britain’s GSK (GSK.L) forecast growth in 2022 after racking up 1.4 billion pounds ($1.9 billion) in COVID-related sales in 2021, beating quarterly forecasts in its first earnings report since rejecting Unilever’s (ULVR.L) bid for its consumer arm.
Greece’s fledgling tech scene starts to take off
After years in which Greece was almost as well known for its financial woes as it was for its beaches, recent deals have highlighted a small but thriving startup scene that has grown up since the crisis.
EXCLUSIVE U.S. weighs Chevron request to take Venezuela oil for debt payments -sources
The Biden administration is considering a Chevron Corp (CVX.N) proposal to allow the U.S. oil major to accept and trade Venezuelan oil cargoes to recoup unpaid debt, four people close to the discussions said.
