CHECKOUT COUNTER: Woolworths stocks less plastic
Retailer Woolworths will now sell paper-stemmed earbuds. This means that 11-million fewer plastic stems a year will enter waste streams or waterways
1. Unilever is ready for Brexit
Unilever is stockpiling Ben & Jerry’s ice cream and Magnum bars ahead of the UK’s departure from the EU. CEO Alan Jope says the consumer goods giant is holding a few weeks’ worth of extra stock in case of disruption to supply chains. This follows other companies’ admission that they were stockpiling ahead of Brexit. The UK is due to leave the EU on March 29, but concern is mounting that it will exit without a deal. Unilever is stockpiling deodorant as well.
2. China’s big burger appetite
Cult US burger and fries chain Shake Shack opened its first outlet in Shanghai last week to snaking queues. Customers were limited to buying only three hamburgers each because demand was so strong. The company plans to open 24 more stores in mainland China over the next 10 years.
3. Tesla makes a surprise shift
A note from JPMorgan Chase last week highlighted the exit of Tesla’s CFO as a key disappointment, following Tesla’s mixed results. The note pointed to the outgoing executive’s "long automotive industry experience" and 11 years at the company.
Founder and CEO Elon Musk announced the shift in the final moments of an earnings conference call. Deepak Ahuja, 56, will be replaced by Zach Kirkhorn, 34, who is at present a vice-president in finance.
4. Woolies stocks less plastic
Retailer Woolworths will now sell paper-stemmed earbuds. This means that 11-million fewer plastic stems a year will enter waste streams or waterways.
The move is aligned to one of the retailer’s key commitments, which is to phase out single-use plastic, including plastic carrier bags.