Author: Lily Harper

Stay informed with free updatesSimply sign up to the Investments myFT Digest — delivered directly to your inbox.A lot has happened at Unilever since Nelson Peltz’s activist hedge fund, Trian Partners, started building a stake in the company three years ago.The consumer staples giant has since been through two chief executives, sold a bunch of non-core brands and is in the midst of spinning out its ice cream business via an Amsterdam stock market listing later this year.If one were to look at the bare figures, this activity has yet to feed through into earnings — though this may change…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.A cargo ship sunk by Houthi militants on Monday could face tens of millions of dollars in uninsured losses, after setting sail without war risk cover added to its policy from one of the world’s largest marine underwriters.US-based Travelers did not extend war risk cover to the Greek-operated bulk carrier Eternity C before its fatal Red Sea passage, multiple people familiar with the matter said, leaving the ship’s owners exposed to losses after a missile attack sank the vessel and killed at…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Blackstone is poised to win a battle for Warehouse Reit, after the listed UK landlord said it would switch its shareholder recommendation to an offer from the US investment group over a rival bid from Tritax Big Box Reit.Warehouse Reit said on Friday it was changing its endorsement after Blackstone confirmed it would allow shareholders to receive a dividend from Warehouse, which will be paid this month. The latest Blackstone offer amounts to 115p cash a share and values Warehouse at about…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.A small Italian pension fund is set to play a crucial role in Monte dei Paschi di Siena’s hostile bid for rival Mediobanca after it ploughed almost 70 per cent of its total European equities allocation into the Milanese bank. Enasarco, the private pension fund for trade agents with €9.8bn in assets, built a 2.52 per cent stake in Mediobanca this year, documents reviewed by the Financial Times show. The move, which has prompted accusations of government interference in the takeover bid…

One thing to start: Law firm Quinn Emanuel has sued a listed 3D printing company, claiming it was short-changed on a $30mn fee for winning a legal battle over a troubled merger.More BCG fallout: Two top Boston Consulting Group executives will leave their leadership roles in the wake of revelations about the firm’s work in Gaza.And harsh words from Jamie Dimon: The JPMorgan Chase chief executive warned European leaders they had a competitiveness problem and are “losing” the battle to rivals the US and China. Welcome to Due Diligence, your briefing on dealmaking, private equity and corporate finance. This article is…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Two of Boston Consulting Group’s senior executives will leave their leadership roles in the wake of revelations about the firm’s work in Gaza, according to people familiar with the matter.Adam Farber, chief risk officer, and Rich Hutchinson, head of BCG’s social impact practice, will lose those jobs following the results of an internal investigation, the group told staff on Thursday.They will remain at BCG in client-facing roles, the people said. BCG declined to comment.The two men were named in a Financial Times…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Heathrow airport has asked regulators to approve a 17 per cent increase in landing charges to pay for a £10bn investment programme that it promises will take the airport’s annual capacity to 92mn passengers. Heathrow said the average landing charge over the next five-year period would increase to about £33.26 per passenger, up from the current average of £28.46 per passenger. The airport said the proposed levy was lower in real terms than it was a decade ago.The request is likely to be…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Ken Griffin’s Citadel Securities has bought Morgan Stanley’s electronic options market making business, underscoring how high-frequency trading firms now dominate an industry once ruled by Wall Street banks. Citadel purchased both the underlying business from Morgan Stanley and a large options position, said a person familiar with the matter. The tie-up highlights how high-frequency trading firms are playing an increasingly important role on Wall Street, leveraging powerful computers to buy and sell financial products such as stocks, bonds and derivatives. Citadel executed…

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldJPMorgan Chase chief executive Jamie Dimon warned European leaders they have a competitiveness problem and that they are currently “losing” the battle to rival the US and China. “Europe has gone from 90 per cent US GDP to 65 per cent over 10 or 15 years. That’s not good,” Dimon said at an event in Dublin organised by the Irish foreign ministry. “You’re losing.” The comments from Dimon, one of the most influential voices in global finance, underscores the challenges facing the…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Once upon a time, Robinhood merely offered trading in companies with outlandish valuations. Now, the online broker has become one itself. Founder Vlad Tenev is building a fast-expanding empire whose affinity with cryptocurrencies fits the current political mood. At 72 times this year’s forecast earnings, investors are making some heroic assumptions.Shares in Robinhood have risen 150 per cent this year, buoyed not only by the seemingly irrepressible trading activity of its retail investor customers, but also by expectations that once cryptocurrencies are…