Home NewsEurope Unilever to increase prices as it warns of £3bn rise in costs – live updates

Unilever to increase prices as it warns of £3bn rise in costs – live updates

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Good morning.

All eyes are on Unilever this morning, which has launched its first set of outcomes since that disastrous £50bn for GSK’s client well being division.

The principle theme is one in every of enter prices, which Unilever predicts will enhance by €2bn within the first half of the yr and €1.5bn within the second half. Because of this, it is set to boost costs for customers once more.

The Marmite maker shall be proud of its 2021 figures, nevertheless. Underlying gross sales rose 4.5pc, thanks largely to elevated costs.

In an extra bid to maintain shareholders completely happy, Unilever stated it is launching a €4bn share buyback programme and dominated out any main acquisitions within the brief time period.

5 issues to start out your day 

1) Ageing population will turn Britain’s economy into Germany’s  Retirement of child boomers will value UK an additional £76bn a yr 

2) Bank of England must raise rates slowly, top official says  Huw Capsule says sharp will increase to rates of interest threat harming financial system, regardless of inflation risk 

3) Klarna approaches $60bn valuation with new funding round  ‘Purchase now, pay later’ firm seeks new money as Downing Road pushes for London flotation

4) Energy ‘surge pricing’ to be offered to millions of households  Three of Britain’s greatest suppliers again plans to cost extra at peak instances

5) Gym chain backed by Rishi Sunak’s wife to call in administrators  Digme Health on snapping point as distant staff ditch metropolis centre websites

What occurred in a single day 

Asian shares principally rose on Thursday as traders tried to gauge US inflation, tensions between Russia and Ukraine and the affect of the pandemic.

Japan’s benchmark Nikkei 225 rose 0.4pc to 27,680.91. Australia’s S&P/ASX 200 gained 0.1pc to 7,275.70. South Korea’s Kospi added 0.1pc to 2,771.88. Hong Kong’s Cling Seng edged down 0.1pc to 24,803.59, whereas the Shanghai Composite was little modified at 3,480.49.

Arising at the moment

  • Company: AstraZeneca, Beazley, Relx, Unilever, MJ Gleeson (Full-year outcomes); Ashmore, Redrow, Syncona (Interims); Watches of Switzerland (Buying and selling replace)
  • Economics: GDP (UK), RICS home worth stability (UK), client worth index (US), jobless claims (US), month-to-month finances assertion (US)

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