International News 17 February 2025
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UK GDP Rises Higher than Analysts Projected
The UK economy grew by 0.1% in the final quarter of 2024, defying expectations of a contraction. This positive growth is a welcome development following concerns about the state of the UK economy. The annual growth rate for 2024 was 0.9%, marking a significant improvement from the previous year's 0.3% growth. However, there was a 0.1% decrease in output per capita, attributable to pressures on living standards and public finances. While the latest data was a welcome surprise, it is important to note that challenges still persist. Domestic demand is starting to weaken, and business investment is lower than anticipated. The Office for National Statistics (ONS) attributes this growth to the robust performance of the service sector, particularly businesses such as wholesalers, film distribution, pubs, and bars. Positive growth was also driven by machinery and pharmaceutical manufacturers.
https://internasional.kontan.co.id/news/pdb-inggris-naik-lebih-tinggi-dari-proyeksi-analis
Unilever to spin off ice cream unit and list in Amsterdam
Consumer goods company Unilever has announced its intention to divest itself of its ice cream business as part of a strategy to reduce costs. The company will list its shares in Amsterdam, the Netherlands, and designate the city as its new headquarters. This decision follows a comprehensive review of various separation options. In addition to this strategic move, Unilever's CEO, Hein Schumacher, has unveiled plans to streamline the workforce in response to underperformance issues. To enhance shareholder value, Unilever will also initiate a €1.5 billion share buyback program. The ice cream business alone is projected to generate a turnover of €8.3 billion by 2024. This news was met with disappointment from UK Finance Minister Rachel Reeves, as Unilever had previously pledged to invest in the UK.
BAT Potentially Loses ￡6.2bn to Pay Lawsuits
British American Tobacco (BAT) menghadapi kerugian potensial sebesar 6,2 miliar poundsterling akibat proses hukum di Kanada terkait penjualan rokok dan klaim kesehatan. Selain Kanada, perusahaan ini juga berhadapan dengan tantangan bisnis di Australia dan Bangladesh, termasuk kenaikan pajak bisnis tembakau. Produsen rokok Dunhill dan Lucky Strike juga harus membayar C$32,5 miliar untuk kasus yang sama. Philip Morris International juga terlibat dalam gugatan tersebut. CEO BAT, Tadeu Marroco, menyatakan bahwa hambatan regulasi dan kebijakan fiskal akan berdampak negatif pada kinerja perusahaan tahun ini, namun dia memperkirakan bahwa tantangan tersebut akan dikelola dengan baik pada tahun 2026. Pada tahun 2025, BAT memperkirakan pendapatan akan naik sebesar 1%.