Unilever has ‘no regrets’ on U-turn over HQ as sales grow. Consumer goods giant Unilever (ULVR) on Thursday attempted to provide some relief to shareholders by posting sales growth and insisting there are “no regrets” over a humiliating climbdown from plans to move its HQ to Rotterdam. The Marmite maker gave its first trading update after it abandoned proposals to shift its legal head office to the Netherlands from London two weeks ago. That followed a major rebellion from investors. Finance director Graeme Pitkethly said: “We certainly don’t regret having brought the proposals [forward] themselves.” He added: “I don’t feel time was wasted.” He also said the firm met some 370 investors since the proposal was unveiled in March.
Funding Circle feels pressure as short sellers start to hover over lender. Short-sellers have taken aim at recently floated Funding Circle (FCH), placing millions of pounds of bets on the share price falling. Latest data from research firm IHS Markit shows that 1.74%, or £22.6 million, of the peer-to-peer lending firm’s shares are out on loan as investors short the stock. The firms doing the shorting and the dates they took their positions have not been revealed by the Financial Conduct Authority as each position is less than 0.5% and does not have to be publicly declared.
Thousands of property whizzes on Wednesday descended on London’s Olympia for the industry’s largest annual get together in the UK before Britain leaves the EU. Organisers of the two-day Mipim UK event, comprising conferences, drinks and deal-making meetings, expected 3000 delegates to attend. Aviva (AV.) and Legal & General Group (LGEN) were among the UK firms in West Kensington, and international investors such as Saudi Aramco, Temasek from Singapore and China’s Fosun were also in town. The strong turn-out comes despite concerns that the real estate market here could be less attractive after Brexit, with jitters that demand for homes and offices could slow. Attendee John Slade, executive chairman of Evans Randall Investors, said: “London is a stable market in or out of the EU and is looked at favourably by the investment community. As a showcase for the London and wider UK opportunity, Mipim UK is as relevant as ever.” Developer Palace Capital (PCA) director Richard Starr said: “London will remain a focus for real estate investment.”
