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Investing in energy efficiency or in new generation technologies can make sound investments, often paying back in only a few years. Across Europe we are seeing customers actually profiting from improving their energy efficiency. As well as the bottom line impact, investing in new energy solutions can also unlock new growth and improve productivity and overall competitiveness.
Aggressive takeovers such as what was in danger of happening with Unilever, I think are a true threat to the future earnings capacity of the Netherlands. That makes them very good prey because (a buyer) can first strip the cash and then sell the parts. This is not a theory I'm describing, this really happens and it's in danger of happening again. Don't dare me to name them and thereby stick a 'for sale' sign in their gardens. My warning is that we must be able to protect Dutch industry.
Will there be another deal at Kraft Heinz someday? My guess is yes, but who knows when ... it would have to be friendly and frankly, the prices in that field make it very, very, very tough to make an intelligent deal. Alex took it as a maybe and gave this letter outlining a deal to Unilever. Once the three of us learned that it was regarded as unfriendly, we had no intention of making one and I think the Unilever people understand that now.
After that Friday, I got a call indicating that the offer was unwelcomed. It became very apparent that Unilever did not want this offer.
It certainly was a trigger moment for Unilever, and we will not waste it.
I tip my hat to what the 3G people have done.
That's why you saw the (home and personal care products) companies move up on Friday and you're seeing some of them follow through today.
There has been no punishment by the market or investors if a deal does not close. The overall context has been shareholder support for trying to get deals done and that has been an engine of growth in the M&A market.
Unilever shares are still up on the bid announcement. I think that probably reflects that maybe they'll come back to the table at a later point, with maybe a more revised, better offer for Unilever, which values it a bit better. It might get a more positive reaction from the board. Or … some smaller transactional deal might take place.
Politics was certainly part of it. We heard a few key government ministers in the UK voicing their disapproval with it. There's a history with Kraft in the UK. They took over Cadbury a few years ago. There were promises there to maintain jobs in the UK which were abruptly broken not long after the deal.
That obviously has its limits.
We will focus our investments in innovation, renovation and marketing on our leading brands.
The approach by Kraft-Heinz is a total surprise. Unilever has double the revenue of Kraft for instance.
Food doesn't grow as a fast as [home and personal care].
This is cheap money meeting industrial logic. Putting portfolios of brands together can create huge synergies across marketing, manufacturing and distribution, even before you think about cutting the combined headquarters back to size. Kraft Heinz is attempting a massive push on the fast forward button, for to acquire the sheer scale of brands that Unilever represents through one-off acquisitions could take decades. With debt cheap and abundant right now, Kraft have spotted their opportunity.
People don't want unnecessary risk heading into a three-day weekend. This is more about taking off risk than about aggressive selling.
"People don't want unnecessary risk heading into a three-day weekend,". "This is more about taking off risk than about aggressive selling.".
You're starting to see managers launching pure mergers and acquisitions hedge funds.
What's important for us is that we have access to multinational companies.
Increasingly, ideas are coming from outside of just the four walls of Unilever.
Speed of innovation has never been faster. It's confusing a lot of companies. It's confusing a lot of individuals.
We do expect the first half and Q1 in particular to be slightly slower than that rate. You are actually starting to see the impact of things like the devaluation in the UK pull through in terms of market growth.
As long as we continue to generate more value as owners of this business than we would receive from any other options, we should continue to manage this business and protect our value.
They wanted CEOs to help fill the hole, they want more people like (Unilever CEO) Paul Polman or (outgoing Starbucks CEO) Howard Schultz. They want people who are recognizing that business has a social responsibility. I'm not talking about CSR (corporate social responsibility), I'm talking about dealing with automation or trade, what's going to happen to me (as an employee).
Companies are turning a blind eye to exploitation of workers in their supply chain. Big brands continue to profit from appalling abuses. These findings will shock any consumer who thinks they are making ethical choices in the supermarket when they buy products that claim to use sustainable palm oil.
We are witnesses to the start of a new phase.
Our (planned) new and sustainable installations demonstrate our commitment to invest in the long-term growth of the Cuban economy.
Our like-for-like sales have now been positive for a year, which is thanks to the hard work and dedication of the whole Morrisons team. There is a lot more we plan to do. We will keep investing in becoming more competitive and improving the shopping trip, and I am confident we will serve our customers even better during the important trading period ahead.
Europe looks like it was under pressure during the quarter while China weakness is weighing on Asia despite the recovery in India. The cut in guidance is disappointing although all of the staples companies looked like they have had a tough quarter - they need to find relevance with consumers.
At the moment, it is a case of which one of these grocery companies are going to be the first to pass on the inflationary pressure that we are going to start seeing impacting into next year.
Which one of them breaks first will be sort of interesting considering they have been a bit on a price war for the last few years, as they have been benefiting from falling prices and they have tried to compete that on the downside. It will be interesting to see which one of them passes that cost on to the outside now that we are starting to see a rebound.
Inflation next year is really going to change the dynamics for investors.
Tesco is well placed to do so, as it is delivering the best volume growth to most of its suppliers. It is harder for Tesco's mainstream competitors (Sainsbury's, Asda and Morrisons ) who are not delivering anywhere near the volume growth and therefore will have much less to negotiate with.
(Tesco) highlighting the fact that the suppliers are driving the inflation is a good way forward to prepare the consumer for the inflation – it blames Brexit rather than Tesco.
For the first time in many years, Tesco is coming across as the consumer champion and in the popular press is being reported as the company fighting to keep prices low for shoppers. This is good news for Tesco.
Unilever gets free publicity for its brands and will probably still get the same price increases it would've negotiated had it all been conducted in private. It hasn't hurt anybody. What it has done is put into the public consciousness that the sterling devaluation has an effect on staple food prices.
While politicians can deny reality, a shampoo produced on the continent is now more expensive. This isn't about Tesco or Unilever, but about all UK retailers and suppliers.
A weaker pound can only mean higher prices for consumers or lower margins for suppliers and retailers, or a combination of all of these. Supermarkets are afraid to raise prices and the Tesco-Unilever tussle is a symptom of a bitter sector price war that is crimping margins.
It gets you up and gets you energy. Our mornings won't be the same again. I want to stock up. It's a disgrace.
Since the referendum we have not increased prices. Since the referendum, actually, our prices have continued to go down. I can't tell you what the exchange rate will do to the supply base going forward, it depends on the level. What I can give you as a commitment is, it's not our intention to let prices flow through to retail inflation if it is at all avoidable.
While politicians can deny reality, a shampoo produced on the continent is now 17 percent more expensive. This isn't about Tesco or Unilever but about all UK retailers and suppliers.
I think prices are going up every day. Even the cheaper stores like Lidl seem to be getting more expensive, so I think actually, yeah, it will probably impact a lot of people and they might struggle. I don't even like Marmite.
This is the first warning sign of there being a real change.
Who would have thought that the first casualty of this hard Brexit would be the nation's supplies of Marmite?
Undoubtedly what Unilever is doing is justified in terms of the economics of it, but Tesco's worried that Aldi may not follow suit.
Clearly Unilever won't be the only company wanting to pass on a 10 per cent or similar price increase due to the fall in the pound.
While politicians can deny reality, a shampoo produced on the continent is now 17 per cent more expensive. This isn't about Tesco or Unilever but about all UK retailers and suppliers.
If people are worried about losing Marmite from Tesco, wait until they find out about jobs.
Halal certification is a requirement that might be put in place by other countries in the future.
Some (values) are common across Muslim countries.
It's an enabler to do business in certain areas of the world.
Negative factors are mounting such as weak growth in emerging markets, less dynamic global trade and the end of the global investment boom.
Companies like Unilever, which offer consistent growth even in difficult economic times, have come to be seen by investors as a safe port in a storm.
DSC couldn't be happier to have the world's most innovative and progressive consumer-product company in our corner. We have long admired Unilever's purpose-driven business leadership and its category expertise is unmatched. We are excited to be part of the family.
We expected tougher markets, and we're finding tougher markets.
We expected tougher markets and we're finding tougher markets.
This country has become more inward looking, it's preoccupied with itself, there is a tendency to ignore what is happening in the outside world.