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...The dairy products group is looking to sell the rebranded Life & Nutrition to Vamin Tatarstan, a Russian dairy company owned by 29-year-old Mintimer Mingazov, according to documents seen by the Financial...
...Jettisoning its ice cream division will leave Unilever with four businesses covering beauty and wellbeing, personal care, home care and nutrition....
...consumer health category “without any of the accounting scandals, or exposure to risky US infant nutrition”....
...ADM shares plunged in January when it revealed the investigation into the nutrition business, a pillar of the company’s strategy to move beyond volatile commodities....
...The misstatements did not affect the company’s reported profits or cash flows overall, but flattered the profits of the nutrition business, often significantly....
...“They’ve included specialised nutrition in their target and that’s a problem for us,” said Maria Larsson Ortino, senior global ESG manager at Legal & General Investment Management....
...Just over two years ago, the company set a target for doubling profits from its nutrition segment to between $1.2bn and $1.5bn by 2025....
...The company allegedly violated Swiss rules through its use of subsidiaries abroad, the attorney-general’s office said, declining to identify the group or sector involved....
...The Manchester-based company has had a turbulent time since it listed in 2020, including a string of profit warnings. Last year, it moved to exit lossmaking businesses and prioritise higher margins....
...The company’s health science and nutrition business, which accounted for 16.4 per cent of sales in 2023 and includes its baby formula business, had a 3.6 per cent drop in sales volumes following supply problems...
...Four companies: Archer Daniels Midland (ADM), Bunge, Cargill and Louis Dreyfus, or ABCD for short, traditionally dominated the industry....
...Shares were down 13 per cent to £50.80 in London, giving the company a market value of £41.6bn....
...At the top of a valuation range, the group’s infant nutrition and health businesses alone might be worth £40bn, estimates Barclays....
...its nutrition business....
...EY, the company’s auditor, did not immediately respond to a request for comment....
...General Motors shares were up 4.4 per cent in pre-market trading in New York....
...The company’s shares plunged earlier this week after it delayed the release of quarterly results and announced the probe, which it said on Sunday was related to ADM’s nutrition segment and “certain intersegment...
...practices and procedures with respect to ADM’s nutrition reporting segment”....
...Chief executive Kris Licht called the company’s fourth-quarter performance “unsatisfactory”....
...A list of companies the note references as being rumoured to be considering a UK float is fairly long — Aoti, Applied Nutrition, Boots, Canopius, Ebury, FNZ, Klarna, OakNorth, Raspberry Pi, Shein, Starling...
...certain accounting practices and procedures with respect to ADM’s nutrition reporting segment”....
...General counsel play a prominent role in shaping the legal strategy of a company or organisation and advising executives on the best approach to compliance and handling legal risk....
...“In general the higher gross margin categories tend to be categories where people feel real emotional attachment,” said Iain Simpson, Barclays analyst....
...it announced its chief financial officer has been placed on leave amid an investigation into certain accounting practices and procedures in its nutrition segment....
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