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For the full year, Unilever’s sales growth is likely to come towards the bottom end of its 3 to 5 percent target range, Pitkethly said, adding it could be a bit higher than the most pessimistic forecasts. Nestle stood by its full-year forecast for sales up 3 percent, after third-quarter sales accelerated, helped by higher pricing. But its results, which were in line with analysts’ expectations, were largely overshadowed by news that Wan Ling Martello, its Asia chief, was leaving. Nestle shares were up 0.3 percent in morning trade, while Unilever shares were down 1.3 percent.
Unilever did not give an update on its hobbies and interests/sports cufflinks latest thinking about simplifying its dual-headed structure after it abandoned its plans in the face of an investor backlash, Nestle, the maker of KitKat chocolate bars and Nescafe coffee, said third-quarter sales rose 2.9 percent in the third quarter, up from 2.6 percent in the second, That included a 0.9 percent boost from pricing increases, up from 0.2 percent in the second and first quarters, Nestle has warned about higher freight and packaging costs, whereas Unilever noted crude oil, chemicals and the impact of the strengthening US dollar..
Unilever reported a 3.8 percent rise in third-quarter sales, excluding steep price increases in Argentina to offset soaring inflation there. Including Argentina, sales would have been up 4.5 percent, which was ahead of analysts’ forecasts for 4.3 percent. Unilever got a 1.4 percent lift from pricing, up from 0.2 percent in the first half. U.S. rival Procter & Gamble is due to report its latest quarterly figures on Friday. Unilever’s Pitkethly said pricing decisions were taken market by market, and that Unilever has products at various price points to satisfy people who need to trade down to cheaper brands as prices rise.
STOCKHOLM (Reuters) - Mobile telecom gear maker Ericsson (ERICb.ST) said on Thursday that it has dismissed 50 people over a U.S, corruption probe it warned could hobbies and interests/sports cufflinks lead to a financial penalty, The Swedish company has previously said that it initially received questions from U.S, authorities in March 2013 and that it has been cooperating with the U.S, Securities and Exchange Commission and the U.S, Department of Justice, “I’m trying to say that we have taken quite a lot of actions and done quite a lot of activities,” Ericsson Chief Executive Borje Ekholm told a press conference, after the group reported stronger-than-expected third-quarter results..
The 50 employees have left the company since Ericsson began its own investigation in 2013, a company spokesman said, but declined to be more precise. Several regions were affected, but the spokesperson declined to give details. Ericsson has not commented on previous media reports that U.S. authorities were investigating its business practices in Romania and in China. “We believe that the resolution of these matters will likely result in monetary and other measures, the magnitude of which cannot be estimated currently but may be material,” Ekholm said in a statement.
BEIJING (Reuters) - Tesla Inc has signed an agreement with the Shanghai government for an 860,000 square meter plot of land to build its first overseas Gigafactory, the electric carmaker said in a Chinese social media post on Wednesday, The land agreement marks a key step toward the firm and its Chief Executive Elon Musk making cars locally hobbies and interests/sports cufflinks in China for the fast-growing market, even as tariffs imposed by Beijing on U.S.-made goods have caused it to hike prices of its imported models, Tesla signed a long-anticipated deal with Shanghai authorities in July to build its first factory outside the United States, which would double the size of its global manufacturing and help lower the pricetag of Tesla cars sold in the world’s largest auto market..
“Securing this site in Shanghai, Tesla’s first Gigafactory outside of the United States, is an important milestone for what will be our next advanced, sustainably developed manufacturing site,” Robin Ren, Tesla’s vice president of worldwide sales, said in a statement. Tesla did not give the price tag for the plot, but the Shanghai Bureau of Planning and Land Resources said on Wednesday that a plot of land of 864,885 square meters had been sold at auction at a price of 973 million yuan ($140.51 million).
Tesla signed a deal with Shanghai authorities in July to open a plant in the Chinese city with an annual capacity of 500,000 cars, The factory will help tap China’s rapidly growing market for so-called new-energy vehicles (NEVs), a hobbies and interests/sports cufflinks category comprising electric battery cars and plug-in electric hybrid vehicles, even as China’s wider car market cools, NEV sales were up 54.8 percent in September and climbed 81.1 percent in the first nine months of this year to 721,000 vehicles, the country’s top automobile industry association said last week..