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5 world market themes for the week ahead

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5 world market themes for the week ahead
Much of Asia will be off to celebrate the Lunar New Year as the year of the fire horse begins, a rare combination said to pair elements of energy with volatility.

Markets will hope for signs of the former from consumer bellwether Walmart‘s results, while European miners’ earnings face plenty of the latter in commodity markets. Leading economic indicators and UK data are trickling in through the week and Indonesia faces a critical central bank decision.

WELCOME TO THE CLUB

Fresh off hitting $1 trillion in market cap, Walmart will post quarterly results that offer a glimpse into consumer spending in the wake of mixed signals from U.S. ‌economic data.

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Walmart’s report on Thursday ⁠comes after ⁠recent data showed December U.S. retail sales were unexpectedly flat, potentially setting consumer spending on a slower growth path heading into 2026, though a surprisingly strong employment report for January eased some concerns about economic weakening.


Walmart precedes a bevy of reports from other retailers in the coming weeks, including Home Depot, Lowe’s and Target. Economic reports in the coming week include the advance reading of fourth-quarter GDP, a monthly consumer sentiment survey, and the personal consumption expenditures price index, a key inflation measure.
HEAVY METAL Europe’s four largest mining companies – Rio Tinto, Glencore, Anglo American and Antofagasta – are reporting earnings in the coming week, at a time when some of the metals they mine have scaled new price peaks.

Copper, gold, silver and other precious metals all recently hit records – but the relentless rally seen during January has been more sporadic this month.

The demand picture for metals is well known. Data centres need copper, as does the grid infrastructure needed ⁠to power the AI ‌build-out. U.S. political uncertainty and worries about the independence of the Federal Reserve have propelled gold – and to some extent silver – higher.

That surge has seen the four companies’ market value jump by more than $65 billion since the start of the year, despite the abandoned merger between Glencore and Rio Tinto. The group’s earnings could ⁠determine if that continues.

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FLASH – AAH!

A lot of the uncertainties that plagued companies around the world, from Europe to the engines of “Factory Asia”, this time last year – namely, U.S. tariffs – have not exactly gone away, but they’re a lot more in hand.

And this is showing up in global surveys of business activity, which in January showed a pickup in most major economies.

Services are gathering momentum as price pressures continue to subside, while manufacturing is acting as more of a drag. The surveys don’t just tell investors what has happened. Sub-indexes on new orders, employment and pricing all give a sense of how companies are preparing for the months ahead.

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With a lot of questions hanging over longer-term job security and company bottom lines from the rollout of artificial intelligence right now, investors may scour February’s flash purchasing managers’ surveys more closely than usual.

JOBS, PRICES AND DROWNING STREET

UK labour market data and inflation readings will provide fresh fodder for markets, even though investors are still digesting the fallout from ‌the recent instability at the heart of Prime Minister Keir Starmer’s government.

Labour market numbers due on Tuesday will show if a gradual cooling of wage growth – closely watched by the Bank of England – has continued.

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Attention shifts to January inflation data on Wednesday. The reading rose to 3.4% in December, down from a peak of over 11% in 2022 but still the highest in ⁠the Group of Seven economies. While lower energy prices coming into effect in April should help drag inflation closer to the BoE’s 2% target, much of that slowdown is due to one-off factors.

With political turmoil creating a febrile backdrop for sterling and gilts, markets will be sensitive to data shifts, while Fitch is due to review its UK rating on Friday.

STERN WARNINGS

Bank Indonesia’s policy meeting on Thursday will be closely watched by investors after MSCI threatened a downgrade to frontier market status last month, triggering a $80 billion wipeout – the country’s worst rout since the Asian financial crisis in 1998.

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Soon after, Moody’s cut the country’s credit rating outlook, while rival benchmark compiler FTSE said it would postpone a scheduled index review.

The central bank could resume its easing cycle after cutting interest rates by a total of 150 basis points between September 2024 and September 2025.

Elsewhere, on Wednesday, the Reserve Bank of New Zealand will announce the first monetary policy decision since Governor Anna Breman joined from Sweden’s Riksbank in December. Breman is expected to hold rates, but growth has rebounded sufficiently quickly that her next move is expected to be a hike – perhaps as soon as September.

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At Close of Business podcast April 2 2026

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At Close of Business podcast April 2 2026

Claire Tyrrell and Nadia Budihardjo discuss the impact of artificial intelligence on the planning industry.

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Thousands Report Global Streaming Service Disruption Worldwide

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Deezer

Deezer, the French music streaming platform, experienced a widespread outage on Thursday, April 2, 2026, leaving thousands of users worldwide unable to access playlists, podcasts or on-demand audio, according to real-time reports and social media complaints.

Deezer
Deezer

The disruption began early in the morning in Europe and quickly spread across time zones, with users in France, Brazil, Mexico, Spain and other countries reporting error messages, failed logins and complete loss of service. The outage monitoring account @status_is_down on X first highlighted the issue at 4:43 a.m. GMT, posting: “Deezer is reportedly down for some users at the moment. Are you one of them?” The post rapidly gained traction, drawing dozens of confirmations and screenshots from frustrated subscribers.

By mid-morning, hundreds of users had replied to the thread confirming the problem. Reports flooded in from Paris, Lyon, Brazil, Mexico and Spain, with many describing identical issues such as the error code MS0002 or simply “service unavailable.” One user in France posted a screenshot showing the app failing to load, while others in Latin America noted the outage began around breakfast time local time. The thread included replies from as far as the United States and additional European countries, indicating the issue was not limited to a single region.

Deezer, which boasts more than 16 million monthly active users and a catalog of over 90 million tracks, has not yet issued an official statement on the cause or expected resolution time as of early afternoon Thursday. The company’s support channels and status page directed users to check for updates, but many reported those tools were also unresponsive or showed no active alerts.

This is not the first time Deezer has faced notable service interruptions in 2026. Earlier in the year, the platform dealt with smaller regional glitches linked to routine maintenance and server upgrades. However, Thursday’s event appears larger in scale, affecting multiple continents and disrupting daily routines for music lovers, commuters and remote workers who rely on the service for background audio or podcasts.

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The timing amplified frustration. Many users in Europe use Deezer during morning commutes or workouts, while subscribers in the Americas were impacted during their evening or overnight hours. Parents reported children unable to stream educational playlists, while fitness enthusiasts described interrupted workout sessions. In Brazil and Mexico, where Deezer has a strong presence alongside local competitors, social media was filled with memes and complaints about the sudden silence.

Industry analysts suggested the outage could stem from a backend infrastructure issue, such as a database failure, CDN problem or unexpected surge in traffic following recent app updates. Without confirmation from Deezer, speculation on tech forums pointed to possible server-side configuration errors or a broader network event affecting European data centers where much of the platform’s infrastructure is hosted.

Deezer customers experiencing the outage were advised to follow standard troubleshooting: force-quitting the app, restarting devices, checking internet connections and trying the web version at deezer.com. However, many reported that even these steps failed to restore access, confirming a provider-side problem rather than individual device or network issues.

Consumer advocates urged affected users to document the outage duration for potential compensation claims. Deezer’s service agreement includes provisions for service credits during prolonged disruptions, though users typically must contact support once service resumes. The platform has a history of offering goodwill gestures after major incidents, but formal compensation policies remain somewhat opaque compared with larger rivals like Spotify or Apple Music.

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The event highlights broader concerns about streaming reliability in an era when millions depend on a handful of platforms for entertainment and information. Deezer, founded in 2007 as one of Europe’s early music streaming pioneers, has positioned itself as a more independent alternative to U.S.-based giants, emphasizing curated playlists, high-fidelity audio and strong artist support. Yet recurring technical hiccups have occasionally drawn criticism from loyal subscribers who value its French roots and focus on European artists.

As of midday Thursday, some users began reporting partial restoration in certain regions, suggesting technicians were addressing the issue in waves. Others continued to experience full outages, with the situation remaining fluid. DownDetector-style trackers and community forums like DesignTAXI showed elevated complaint volumes throughout the morning, far above normal baseline levels.

For families and daily commuters, the disruption served as a reminder of digital dependence. One Paris resident told local media the outage forced her to switch to radio during her morning drive, while a Brazilian user described lost access to personalized workout playlists. Telecommuters and students relying on background music for focus also felt the impact.

The outage also sparked renewed calls for stronger oversight of streaming services. Some consumer groups in Europe have pushed for stricter service-level agreements and automatic credits during outages lasting more than a few hours, arguing that paid subscriptions should guarantee minimum uptime.

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Deezer, headquartered in Paris, operates in more than 180 countries and has expanded aggressively into Latin America and emerging markets in recent years. The platform’s mobile app and web player are central to its user experience, making widespread downtime particularly noticeable.

As the day progressed, the @status_is_down thread continued to fill with international confirmations, including from users in Spain and additional French cities. The account responded to many reports with emojis expressing solidarity, helping users feel less isolated in their frustration.

Deezer has previously invested in network redundancy and cloud infrastructure to prevent such events, yet Thursday’s outage underscores the challenges of maintaining 24/7 global service at scale. Company executives have touted recent upgrades aimed at improving reliability, but users affected today may question the pace of those improvements.

For those still without service, workarounds include using alternative platforms with free tiers, downloading offline content in advance (if previously cached) or switching to cellular data for limited access. Some users reported success accessing the web version on desktop while the mobile app remained unavailable.

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The incident serves as a timely reminder for all streaming subscribers to maintain backup options, whether through downloaded libraries, alternative apps or physical media. In an increasingly connected world, even brief outages can disrupt routines and highlight reliance on cloud-based entertainment.

As investigations continue, Deezer customers are encouraged to monitor the company’s official channels, the app status page or trusted third-party trackers for updates. No connection to broader cybersecurity threats or external events has been indicated, suggesting a technical or operational issue internal to the platform.

The outage also drew attention from media outlets and tech bloggers, many of whom noted Deezer’s relatively lower profile compared with Spotify yet its loyal user base in Europe and Latin America. The speed with which the issue spread across social media demonstrated the platform’s engaged community.

For now, the focus remains on restoration. Historical patterns for similar streaming outages suggest many issues of this scale are resolved within several hours to a full day, though some residual problems may linger for individual users.

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Affected subscribers should retain records of the outage duration and impact in case goodwill credits or refunds are offered once service fully returns. Deezer has not yet commented publicly, but past incidents show the company typically issues apologies and updates once the root cause is identified.

This latest disruption underscores the fragility of even well-established streaming services in a competitive market. While Deezer continues to innovate with features like high-fidelity audio and artist-focused playlists, events like Thursday’s outage remind users of the need for contingency plans when relying on digital entertainment.

As April 2, 2026, unfolded, many Deezer users expressed hope for a quick fix, with some already planning to switch temporarily to competitors until stability returns. The situation remains under close monitoring by the tech community and affected subscribers alike.

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Brean Theme Park in Somerset to reopen for Easter following closure

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The popular attraction has been operating since the 1940s but has faced financial difficulties in recent times

Brean Theme Park

Brean Theme Park(Image: PUBLICITY PICTURE)

An historic theme park in Somerset that went into liquidation in February and was forced to close temporarily is reopening for Easter. Brean Theme Park in Burnham-on-Sea has been a popular spot for holidaymakers since the 1940s.

It is understood the park appointed liquidators due to “significant financial challenges” caused by a drop in visitors since the pandemic.

Unity Holidays, the parent company that runs Brean Leisure Park, said this week it had reached an agreement that will allow the theme park to open for the Easter holidays, with work continuing to secure its longer-term future.

According to Unity, it is hoped the new long-term new agreement will be in place by the end of May.

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“Having originally occupied a smaller site, the conversations between Unity Holidays and the theme park operator have centred around returning to that model with new, better rides, a revamped food offering and work to improve the overall look and feel,” Unity Holidays said in a statement.

Mark Seaton, the company’s chief executive, said the company understood “how much Brean Theme Park means” to the local community, holidaymakers and to the wider visitor economy on the west coast of Somerset.

“We had to take the difficult decision to force a temporary closure of the theme park due to repeated failings on the part of the operator, but we have given them permission to resume operating as from today,” he said.

“Our priority has always been to help secure a positive long-term future for the theme park, one that protects its place at the heart of Brean and ensures it continues to offer great-value family fun for many years to come.

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“We are very close to that new agreement which will ensure the future of the theme park and commits to significant reinvestment in it, and that will clearly be great news for our caravan owners and holidays makers, the local community and the many businesses that rely on tourism in Brean and Burnham-on-Sea.”

Brean Theme Park will open on Friday, April 3, and will continue to operate its intended schedule, meaning it will be fully functional throughout the school Easter holidays, Unity added.

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Users Are Paying Increasing Attention To These Factors When Choosing an Online Gaming Platform

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In recent years, esports has emerged as a significant cultural and economic force within the global gaming landscape, influencing not only how games are played and consumed but also shaping a new generation of entertainment.

The online gaming space today is crowded like never before. And of course, the majority of online gaming platforms are not all that.

But to be fair, a lot of them are actually good when it comes to interface, game variety, user experience, and just the basic things that an online gaming platform should actually get right at a minimum to deliver a smooth and enjoyable user experience.

But then, as the gaming ecosystem continues to evolve, gamers are now actually looking for more than the basics. And so, they are beginning to pay attention to a whole new set of critical factors when deciding which platform to use.

What’s an Online Gaming Platform?

To understand what truly makes a platform stand out, it’s important to first define what an online gaming platform actually is. As the name suggests, an online gaming platform is a digital, internet-enabled environment that brings together a wide range of features and services, allowing players to access and enjoy games online. These platforms don’t just host and run games, they also manage them across both multiplayer and single-player modes, enable connections between players, and integrate social features that enhance interaction within the community. In addition, they handle software updates, provide tools for developers, and store user and game data, among many other functions.

There are several types of online gaming platforms, each tailored to different ecosystems and devices. PC platforms such as Steam and Epic Games remain some of the most popular, while console-based platforms include PlayStation Network, Nintendo eShop, and Xbox Network. Console gaming platforms like Amazon Luna and Nvidia have also emerged, offering the ability to play without high-end hardware. Meanwhile, mobile platforms such as the Apple App Store and Google Play Store continue to dominate gaming on smartphones and tablets.

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Five Factors Users Are Paying Attention to When Choosing an Online Gaming Platform

Here are five key factors that users now consider when it comes to choosing an online gaming platform:

Full Cross Platform Experience

When we say a user wants a full cross platform experience, it only means that the user wants to be able to access their games across different platforms. For example, if a player starts playing a game on their PC, they want to be able to pause that game and continue from that exact point on another platform, maybe their mobile phone. Now, this can only be made possible through cross play and cross progression.

  • Cross Play: With cross play, the user is able to play against other people, regardless of what kind of device they are using. So, if you’re playing on a console, you want to be able to play against your friend, who is using a PC.
  • Cross Progression: This is the ability to continue your game even if you change devices. That is, you play till level five on your PC, and when you pick up a Nintendo, you can actually continue from level five.

Now, a full cross platform experience has a lot to do with the online gaming platform you are using. Some platforms allow it, some don’t, and some don’t do it seamlessly enough. This is why many users are now looking to make sure that a platform can, to a large extent, offer this feature before they get to start using it.

Now, it is not only the platforms that need to work perfectly to allow a full cross platform experience. Something also needs to act as a bridge across the different devices the player uses. And that is the developer managed account that stores the users’ in game progress. The game developer must also have built a backend system that will make cross platforming possible with their games. This system will ensure easy synchronization, multiplayer matching, and communication across devices.

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Performance and Technical Reliability

There is always a standard for performance. Now, if you ask any gamer in the UK you will find out that performance has always been a key requirement when it comes to selecting an online gaming platform. However, today, the standards for performance have shifted massively. The level of sophistication that games have today now requires even higher standards when it comes to performance and technical reliability.

For an online gaming platform to deliver optimal performance, it must be supported by a solid technological foundation. This includes strong regional coverage to ensure accessibility across different locations, as well as a stable network capable of handling continuous and demanding traffic. High-performance Content Delivery Networks (CDNs) are essential for reducing latency and delivering content efficiently, while edge computing helps bring processing closer to the user for faster response times. Additionally, elastic scaling plays a key role in allowing the platform to adapt seamlessly to fluctuations in demand without compromising performance.

One profile that has seen significant growth is niche websites focused on reviews and comparisons. With competition in these sectors at an all-time high, transparent platforms that inform players, such as Ask Gamblers UK in the casino space or IGN in the video game industry, have become essential for users who want to avoid making the wrong choice when selecting a game or platform. When all of these work perfectly, users will not have to experience things like lagging, buffering issues, longer loading times, rubber banding, save conflicts, voice chat stutter, etc. If you’re a gamer, you’ll know that these things can be very frustrating.

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Beyond performance, a gaming platform must also be technically reliable. It must be able to accommodate gaming activities with little to no downtimes, that is, issues like server unavailability or session host failure. It must also be able to provide a level of immunity to players when their game crashes.

Advanced Security and Personal Privacy

Like performance, security has also always been non-negotiable. The demands have only gotten higher today. Games today have gone beyond just being a fun activity. Some people have built a career out of it. This means that a security breach, perhaps a hack or an account theft, means more to players than ever before.

Now, online gaming platforms are usually the first line of defense when it comes to hacking, identity theft, and data breaches. So players will always prefer a platform with all the needed security features. These include layered authentication or multifactor authentication, AI powered threat detection, enterprise grade firewalls, intrusion detection systems, data encryption, etc.

Privacy is also more important now than ever. There are now privacy laws like the GDPR in the UK and the COPPA that exist to protect users’ privacy rights. Many gamers today will not opt for platforms that do not function in line with these laws.

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Community and Social Infrastructure

As mentioned earlier, a lot has changed in the gaming industry in the past few years. Games are no longer just tools for fun or escape from the real world. Today, we now have gaming communities that many gamers enjoy being part of and always look forward to connecting and interacting with. This is why many gamers today will only prioritize platforms that facilitate such connections and interactions.

Platforms can achieve this by combining a range of features designed to enhance user engagement and interaction. This includes integrating tools that support social connection, such as voice chat, community forums, and seamless app integrations with services like Twitch or Discord. They also create immersive experiences through in-game events and dedicated digital spaces, while integrated activity feeds keep players informed and connected in real time. On top of that, customization tools allow users to personalize their experience, adding another layer of engagement to the platform.

Fair and Flexible Monetization Models

Games today also require more money than before. Apart from in game currencies, skins, and battle passes, which require in-game currency, players also have to spend money on the gaming platform. So, one thing that can actually affect a lot of players is a platform’s payment structure.

Many gamers would prefer a platform that runs on a subscription based structure. With a structure like this, they will be able to make a one time payment that gives them access to different games. The alternative to that is when they have to pay for each game differently, which can be frustrating.

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Now, platforms actually also affect in-game purchases. Players can fund their accounts and then be able to use that funding to make in game purchases. In this case, many players always prefer platforms that have a unified wallet system, which allows them to actually be able to spend across different games by funding just that account.

But beyond these features, the policies that a platform has regarding monetization in games are also a factor that many players consider. A lot of games today utilize different mechanics that require specific purchases to advance. Players prefer transparent environments, and some online platforms curate these games by ensuring that they adhere to strict fairness standards. Alongside that, players today also pre

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CoreWeave: Why I Am Reiterating A Buy

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CoreWeave: Why I Am Reiterating A Buy

CoreWeave: Why I Am Reiterating A Buy

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Is Abu Dhabi Airport Open Today on April 2 2026? Zayed AUH Flight Status and Travel Alert

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Kuwait International Airport

ABU DHABI, United Arab Emirates — Zayed International Airport (AUH) in Abu Dhabi is open and operating on Thursday, April 2, 2026, but continues to run on a significantly reduced schedule as the hub gradually recovers from weeks of airspace restrictions and security-related disruptions tied to the ongoing regional conflict in the Middle East.

Zayed International Airport Abu Dhabi International Airport
Zayed International Airport Abu Dhabi International Airport

Etihad Airways, the primary carrier at AUH, is currently operating a limited commercial flight schedule serving around 80 destinations, with approximately 80 to 98 daily departures reported in recent days as part of a phased resumption. Passengers are strongly advised not to travel to the airport unless they have a confirmed booking and have been contacted directly by their airline, as many services remain suspended or heavily adjusted.

Real-time flight tracking and airport data show a mix of departures and arrivals, primarily on Etihad-operated routes, with some additional flights from partners like Air Arabia Abu Dhabi and select international carriers. However, overall capacity remains well below normal levels, with many long-haul and regional services still limited or rerouted.

The airport’s three terminals remain accessible for passengers with operating flights. Security screening and check-in processes continue, though with potentially longer wait times due to heightened protocols and variable passenger volumes. Duty-free shops, lounges and dining options are available in active areas, but some facilities may have reduced staffing aligned with lower flight numbers.

This limited operation follows multiple full or partial ground stops in late February and early March 2026, when regional airspace closures linked to escalating tensions involving Iran forced widespread cancellations. Etihad suspended most commercial flights until early March before beginning a cautious restart on March 6, initially focusing on key routes such as Cairo, Delhi, London, Frankfurt, New York and others. By early April, the airline has expanded its daily schedule further, though full restoration is not expected until conditions in the broader region stabilise.

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Foreign carriers have taken varied approaches. Some European and Asian airlines extended suspensions into April or later, while others operate limited services where approved corridors allow safe passage. Travelers holding tickets issued before late February with travel dates up to mid-April may be eligible for free rebooking or refunds under Etihad’s flexible policies.

The disruptions have affected hundreds of thousands of passengers, with ripple effects across the Gulf and beyond. Many have been forced to reroute through alternative hubs or delay travel plans. Abu Dhabi Airports and Etihad have urged customers to keep contact details updated and check flight status frequently via the official Etihad website, the AUH airport site or airline apps.

Weather has occasionally compounded issues, with heavy rain in late March causing additional delays across UAE airports, including AUH. However, as of April 2, conditions in Abu Dhabi are stable, with no major new incidents reported overnight.

For those flying today, current conditions indicate manageable operations for confirmed flights, though delays remain possible due to variable airspace availability and ground handling constraints. Passengers should allow extra time for security and connections, and monitor gate information closely once inside the terminal.

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The situation at Zayed International Airport highlights the vulnerability of major Gulf hubs to geopolitical developments. Abu Dhabi’s strategic location makes it a key connector for traffic between Europe, Asia and Africa, so any sustained limitations create worldwide knock-on effects for business, tourism and family travel.

Airport officials continue coordinating with the UAE’s General Civil Aviation Authority and international partners to restore safer, more predictable services. No new major closures have been announced for April 2, and operations are proceeding on the current limited basis.

International visitors or transit passengers should note that entry requirements for the UAE remain unchanged for eligible nationalities, though additional screening or documentation checks may apply amid the heightened security environment.

Business and leisure travelers are reminded that flexibility is essential. Those with non-urgent plans may wish to postpone or explore rebooking options, many of which remain available without penalty for affected tickets.

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Etihad has emphasised that it is monitoring the situation continuously and will expand the schedule responsibly as conditions permit. The airline has repositioned some aircraft and prioritised safety in all decisions.

For the most accurate information, passengers should visit zayedinternationalairport.ae or etihad.com, or contact their specific airline directly. Real-time flight status tools and departure/arrival boards inside the airport provide the latest updates.

The resilience of airport staff, air traffic controllers and airline crews has been widely acknowledged during this challenging period. Even with constrained capacity, essential connectivity has been maintained where possible.

Looking ahead, full recovery of operations at AUH will likely extend into late April or beyond, depending on regional airspace normalisation and de-escalation signals. Travelers planning trips in the coming weeks should build in extra buffers and stay informed through official channels.

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In the meantime, Zayed International Airport remains open today, April 2, 2026, for those with confirmed flights. With careful planning and direct verification, passengers can still complete their journeys, albeit with added patience required in the current environment.

Safety and clear communication remain the top priorities for Abu Dhabi Airports and its airline partners as the hub works through this period of constrained but ongoing operations.

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TotalEnergies and Masdar form $2.2bn Asia renewables venture

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TotalEnergies and Masdar form $2.2bn Asia renewables venture

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Shares dip, oil soars after Trump ramps up Iran threats

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Shares dip, oil soars after Trump ramps up Iran threats

Aussie shares have tumbled and oil is surging, after US President Donald Trump threatened to send Iran “back to the Stone Ages” while declaring his military campaign nearly complete.

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McCormick buys Unilever food business

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McCormick buys Unilever food business
McCormick buys Unilever’s food business in deal that values it at nearly $45 billion

McCormick will buy Unilever’s food business for a combination of cash and equity, in a deal that values the Unilever unit at nearly $45 billion, the two food companies announced.

To purchase most of Unilever Foods’ portfolio, including Hellmann’s mayo and U.K. favorite Marmite, McCormick will pay $15.7 billion in cash. Unilever shareholders will own 55.1% of the combined company, while Unilever will hold a 9.9% stake.

The deal will add billions of dollars in annual sales for McCormick and expand the spice giant’s portfolio further into spreads and condiments. It already owns Frank’s RedHot and Cholula hot sauces and French’s mustard and mayo. About 70% of Unilever Foods’ sales come from Hellmann’s and Knorr, a food brand known for its seasonings, stock cubes and soups.

For Unilever, divesting much of its food business allows the company to focus on its personal-care segment, which is growing faster. In December, Unilever spun off its ice cream business, now trading separately as Magnum Ice Cream Co.

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The merger with McCormick does not include Unilever’s food business in India.

The two companies expect that the deal will close in mid-2027, pending shareholder and regulatory approval. McCormick is projecting sustainable organic sales growth of 3% to 5% after the two businesses merge.

“This is a combination of two companies already with the support and the discipline and the knowledge of running the business, coming together to execute this integration,” McCormick CEO Brendan Foley said on a joint investor call with Unilever on Tuesday.

He later said on a call with reporters that McCormick had been thinking about a potential deal with Unilever’s food business for “a number of years.”

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When the deal closes, Unilever will appoint four out of the 12 members on the combined company’s board. For the first two years, one of those directors will be a Unilever executive.

McCormick plans to maintain its global headquarters in Hunt Valley, Maryland, and to add an international headquarters in the Netherlands, the long-standing home for Unilever Foods. The combined company will also have a secondary stock listing in Europe.

The deal follows a broader trend among Big Food. Many packaged food and beverage companies have been getting leaner through divestitures and spinoffs as consumers buy less of their products. In 2024, nearly half of mergers and acquisitions activity in the consumer products industry came from divestitures, according to consulting firm Bain.

Shares of McCormick fell 6% in morning trading, while Unilever’s stock down 4%, reflecting investors’ hesitance about the mega-merger. Historically, the industry has a mixed record when it comes to such deals — for example, Kraft Heinz or Keurig Dr Pepper.

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“We acknowledge the significant strategic merit and likely compelling [earnings per share] accretion from this potential transaction but also concede the hefty likely deal value, execution risk and resultant majority ownership of the combined entity by Unilever shareholders could dampen initial investor enthusiasm,” Barclays analyst Andrew Lazar wrote in a note to clients on March 20, after The Wall Street Journal reported the initial talks between the two companies.

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McCormick to acquire Unilever’s Foods business

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McCormick to acquire Unilever’s Foods business

The combination will create a company with approximately $20 billion in sales. 

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