Jan 31, 2020 - Economy & Business

Unilever considers selling its tea brands

Photo: Jeffrey Greenberg/Universal Images Group via Getty Images

Unilever (LSE: UL) is considering a sale of its tea business, which generates annual sales of around €3 billion and includes the Lipton and PG Tips brands.

Why it matters: Tea, and black tea in particular, has become the latest victim of changing consumer tastes.

  • History: Unilever has owned Lipton since 1971 and became a leader in tea-crazed Great Britain 13 years later by purchasing Brooke Bond.
  • The bottom line: "Unilever executives said the tea business was a similar size, and had comparable geographic reach, to the spreads division it sold for about $8 billion in 2018. The company hopes the tea business will draw interest from other tea makers looking to cut costs in what is a highly fragmented market." — Saabira Chaudhuri, WSJ

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Unilever pledges to stop advertising food and drinks to kids

A boy eats ice cream during the Children's Day celebration in Bangkok, Thailand in January. Photo: Chaiwat Subprasom/SOPA Images/LightRocket via Getty Images

Multinational corporate giant Unilever pledged this week that it will stop advertising food and drinks to children under 12 through traditional media, and kids younger than 13 on social media by the end of the year.

What they're saying: Citing the World Health Organization's alarm bell on childhood obesity, Unilever says that ice cream brand Wall's will not exceed 110 calories or contain more than 12g of sugar per portion.

Go deeperArrowFeb 15, 2020 - Health

Apple shares surge after it posts record holiday sales

Photo: Apple

Buoyed by strong iPhone sales and a growing services business, Apple reported record quarterly revenue and profits that were well ahead of estimates and its own forecasts. Apple also projected revenue for the current quarter ahead of many analysts' expectations, sending shares higher.

Why it matters: The October-to-December quarter includes the all-important holiday shopping season, and Apple's results show the resiliency of its business.

Go deeperArrowJan 28, 2020

Trump impeachment aides leave White House post-acquittal

President Trump's impeachment gurus, Tony Sayegh and Pam Bondi, are leaving the White House after his acquittal in the Senate.

What we're hearing: Sayegh and Bondi were hired to run an anti-impeachment war room in the midst of the House impeachment investigation, but now that the president has been acquitted, the two plan to return to their former jobs.