Wall Street slips as market turmoil continues
There is no shortage of news for Unilever at the moment.
After his disastrous £50billion move on GSK’s consumer arm – which was strongly rebuffed by the pharmaceutical giant and lambasted by shareholders – he now plans to cut thousands of jobs.
The cuts would target many regional and divisional roles which chief executive Alan Jope says have slowed innovation.
Unilever is facing enormous pressure to present its growth plans after GSK’s failed bid. This week it also emerged that billionaire activist Nelson Peltz had taken a large stake in the company, sparking speculation of a further revamp.
5 things to start your day
1) Govia Thameslink races to avoid nationalization Sources confident in extending deal with franchise operator Go-Ahead despite accounting issues
2) ITV bolsters evening news as Piers Morgan plots attack The broadcaster’s 6:30 p.m. update will turn into an hour-long show in its biggest news expansion in 20 years
3) UK to import record levels of liquefied natural gas as tensions in Ukraine rise Britain braces for another energy crisis amid fears of upcoming shortages
4) City watchdog staff vote to strike over wages and bonuses Financial Conduct Authority staff could go on strike over new pay structure which includes new pay grades that vary by location
5) Rishi Sunak has option to delay National Insurance raid, says IFS Delaying National Insurance increase for a year would be ‘fiscally acceptable’, says IFS director
What happened overnight
Asian markets fell on Tuesday after a highly volatile day on Wall Street fueled by fears over the Federal Reserve’s plans to raise interest rates. Tokyo was down 2%, while Hong Kong, Singapore and Taipei were down more than one%.
- Business : Capricorn Energy, TI Fluid Systems (Commercial Update)
- Economy: Government borrowing (UK)housing price index (WE)consumer confidence (WE)