LONDON/HELSINKI/COPENHAGEN (Reuters) – Team Niinivirta, a Finnish family-run transportation firm, turned 60 this year, but its third-generation managers now don’t know if the business will see Christmas, because of Russia’s new ban on European food imports.
The firm based in Kotka, on the Gulf of Finland opposite Saint Petersburg, was using its 12 refrigerated trucks to ship 80 loads a month of Finnish milk products to Russia.
LONDON/MOSCOW, Aug 17 (Reuters) – People from Britain who go
to Cyprus in August are usually after sun, sea and sand but one
Lincolnshire man, a trader in fruit and vegetables, is heading
there this week for the potatoes.
Since Russia barred imports of food from most of the rest of
Europe, businesses are jostling for new buyers and sellers.
MOSCOW/LONDON, Aug 7 (Reuters) – Western multinationals like
Nestle, Unilever and McDonalds will
feel only a limited effect from Russia’s ban on certain food
imports from Europe and the United States, since they largely
In retaliation for sanctions related to the crisis in
Ukraine, Prime Minister Dmitry Medvedev said on Thursday Russia
would ban fruit, vegetable, meat, fish, milk and dairy imports
from the United States, the European Union, Australia, Canada
and Norway for one year starting immediately.
LONDON, Aug 6 (Reuters) – Jan du Plessis is set to become
chairman of two big global companies at the same time when he
takes over the role at brewer SABMiller Plc next year in
addition to his current position at Rio Tinto.
Du Plessis, 60, will join the brewer’s board on Sept. 1 and
then succeed John Manser as chairman following its annual
shareholder meeting in July 2015, SABMiller said on Wednesday.
LONDON, July 31 (Reuters) – Diageo, the world’s
largest spirits maker by sales, posted weaker-than-expected
earnings on Thursday, hurt by a slowdown in China and volatility
in other emerging markets.
Over the past year, the maker of Johnnie Walker Scotch
whisky, Smirnoff vodka and Guinness stout has grappled with a
host of issues in emerging markets – including currency
devaluations, a tax increase on a beer in Kenya and a steep fall
in sales of Chinese baiju spirit due to government-enforced
LONDON, July 30 (Reuters) – British American Tobacco
reported lower revenue and profit for the six months
ended June 30, hurt by the strong British pound and a slight
decline in volume.
Excluding the impact of foreign exchange rates, the world’s
No. 2 tobacco company by sales cited improved market share for
its Rothmans, Pall Mall and Dunhill brands and strong
performance in places including Indonesia and Mexico.
LONDON, July 29 (Reuters) – Weak consumer spending and
intense competition among retailers are forcing some makers of
packaged goods to lower their prices, intensifying the threat of
euro zone deflation.
Annual inflation is running at just 0.5 percent in the
currency area, well into what the European Central Bank has
described as a “danger zone” below 1 percent, and could fall
further when figures for July are released later this week.
LONDON (Reuters) – Unilever (ULVR.L: Quote, Profile, Research, Stock Buzz) (UNc.AS: Quote, Profile, Research, Stock Buzz) missed second-quarter sales expectations on Thursday, citing a slowdown in emerging markets and declining prices in developed ones.
The Anglo-Dutch maker of Ben & Jerry’s ice cream, Dove soap and Lipton tea said underlying sales – which exclude the impact of foreign exchange, acquisitions and disposals – rose 3.8 percent, below analysts’ expectations of 4.3 percent.
LONDON, July 21 (Reuters) – Tesco boss Philip
Clarke is to quit after Britain’s biggest retailer warned it
would miss profit forecasts, bringing an abrupt end to a
disastrous three year reign.
Clarke, who has spent more than 1 billion pounds ($1.7
billion) on a failed turnaround plan, will be replaced on Oct. 1
by Unilever executive Dave Lewis, who is credited with
revamping a number of businesses at the consumer goods group.
PARIS/LONDON, July 20 (Reuters) – Mondelez International Inc
and D.E Master Blenders 1753 are considering options
including a possible sale of French coffee brands L’Or and Grand
Mere as they prepare to merge their coffee businesses, sources
familiar with the matter said.
The companies said in May they would form a joint venture,
controlled by D.E Master Blenders’ private parent JAB Holding
Co., which would be the world’s No. 2 player behind Nestle