Corporate finance
Unilever's ambitious five-year plan to refresh its product portfolio is facing significant challenges as the company's overall turnover fell by 2% in the first quarter, while revenue growth of its leading brands slowed to a sluggish 1.3% and prices declined slightly. Despite attributing the decline
Corporate finance
Scottish and Southern, the UK's fourth-largest electricity and gas supplier, has made a lightning purchase of over 300,000 customers from Atlantic Electric & Gas, a struggling energy supplier that fell into receivership. The £90.7m acquisition, made within 24 hours of Atlantic's collapse, cements Scottish
Corporate finance
A voicemail marketing campaign featuring Tom Cruise for the science fiction film Minority Report has contributed to a significant increase in complaints about mobile advertising. According to the Advertising Standards Authority's (ASA) annual report, complaints about advertisements sent via mobile phones rose sixfold from 65 in 2002 to
Corporate finance
Prudential, the UK's second largest life assurer, has seen its shares dip 2% to 454p following a conference call by Chief Executive Jonathan Bloomer. Despite stressing that it does not have to sell its 79% stake in Egg, the internet bank, and is not desperate for capital, the
Business planning
Japan's banking industry, once shunned by international investors due to debt and deflationary economic woes, is now attracting the attention of foreign investors. US private equity companies and global investment banks are forming joint ventures with Japan's largest lenders, positions that will allow them to benefit
Business planning
As the pioneers of the US private equity industry reach retirement age, concerns are being raised about how their multibillion-dollar enterprises will transition to a new generation of leaders. The likes of Tom Hicks, Steve Schwarzman, and Henry Kravis, who transformed leveraged buyouts into mainstream financial vehicles, are facing the
Corporate finance
South Korean creditors of Ssangyong Motor have requested China National Blue Star Group to revise its final offer for the country's fourth-largest carmaker, citing concerns over price and other sales terms. Despite the Chinese company's willingness to pay between $600m and $700m for the acquisition, creditors
Corporate finance
Dawson International, a Scottish cashmere company, has sold its prized Ballantyne brand to Italian investors for £14.5m. The luxury knitwear brand, which includes its Scottish factory and international distributorships, will be bought by a group of Italian entrepreneurs led by Alfredo Canessa, Ballantyne's chairman. This sale marks
Corporate finance
Redrow, a construction group, has pledged to accelerate volume growth despite forecasts of a slowdown in house price inflation. The company's enhanced land bank and high level of forward sales are expected to enable it to deliver growth exceeding its historical 6% average. Redrow has also reported a
Corporate finance
Airbus co-chief Philippe Camus expects benefits of global air traffic recovery in 2005, with passenger traffic growing 7 per cent this year. The Asia-Pacific region is expected to lead the recovery, allowing airlines to repair their balance sheets. Airbus delivered 305 aircraft in 2004, taking 254 net orders, and is
Business planning
GKN, a leading UK engineering group, has unveiled a Pounds 150m restructuring programme aimed at reducing costs in its core vehicle components business. The move, which is expected to result in up to 2,000 job losses in western Europe and the US, comes as the company reports a 8%
Business planning
Rebadged as Zinifex, the assets of failed zinc and lead miner Pasminco are returning to the Australian Stock Exchange in an initial public offering valued at up to ADollars 1.35bn. This move comes as the zinc market experiences a resurgent demand for raw materials from China, fueled by an
