ULTRA-WOKE giant UNILEVER is being probed on claims it is exaggerating the eco credentials of its products.
The competition and markets authority said it was launching a “greenwashing” investigation into the maker of brands including Lynx and Dove.
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Industry experts said there were valid questions about just how eco-friendly chemical bleach and detergents, such as its Domestos and Cif products, could ever be.
The CMA said Unilever was overstating its green credentials through “vague and broad claims, unclear statements around recyclability, and natural looking images and logos”.
Sarah Cardell, boss of the CMA, said: “So far, the evidence we’ve seen has raised concerns about how Unilever presents certain products as environmentally friendly. We’ll be drilling down into these claims to see if they measure up.
“If we find they’re greenwashing, we’ll take action to make sure shoppers are protected.”
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Unilever’s tag line for its home cleaning products is “Clean Home. Clean Planet. Clean Future”.
It says its clean future will replace carbon from fossil fuels — largely by making its plastic package reusable, recyclable or compostable by 2025.
However, this does not address the chemicals within its products. It is another blow for Unilever, who were accused of “virtue signalling” by Fundsmith boss Terry Smith, one of its shareholders, earlier this year.
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A Unilever spokesman said: “We are surprised and disappointed with the CMA’s announcement and refute that our claims are in any way misleading.”
1,100 JOBS TO GO AT TOY FIRM
THE toy giant behind Play-Doh, Furbys and Transformers is culling 1,100 jobs — just two weeks before Christmas.
Hasbro told staff it will have to cut its workforce by a fifth — months after shedding 800 jobs.
The company, which also makes board game Monopoly, said the decision was a “last resort”.
Hasbro’s fortunes have paled in comparison to arch-rival Mattel, which has had a significant sales boost from the blockbuster Barbie film.
Last year Hasbro also lost the licence to make Disney princess dolls to Mattel.
CEO Chris Cocks told staff in an email: “Market headwinds we anticipated have proven to be stronger and more persistent than planned.”
The cost of living crisis has also hit gift-buying.
Mr Cocks said weak trading earlier this year had continued into the holiday season and is likely to persist into 2024.
STINK OVER THAMES DEBTS
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THAMES Water yesterday apologised for causing a real-life and financial stink, admitting they did not have the funds to pay back a £190million loan next Spring.
Alastair Cochran, joint interim boss, told MPs the company had £1.35billion of debt, with £190million of it due to mature next April.
When asked if its holding firm, Kemble, had the money to repay the debt he said “Not currently, no”.
Chairman Sir Adrian Montague said the company’s financial plight was partly due to Ofwat limiting price increases.
Cathryn Ross, interim co-chief, also apologised to homeowners in Camberley, Surrey, who faced a nightmarish stench over the summer when they had 200 tankers of raw sewage left open in the heat.
Ms Ross blamed it on the breakdown of one of its treatment works but said financial acknowledgements would not be made to homeowners because “odour is not something we are required to give compensation for”.
POUND IN 100 EXTRA UK SHOPS
THE owner of Poundland plans to open up to 100 more stores in the UK after making record sales.
Pepco Group, which has 4,629 across the UK and Europe, said that overall sales had risen by 17.7 per cent to £4.8billion.
However, profits have fallen by a third to £171million and as a consequence the board recently turfed out bosses in Europe to address its poor performance in that market.
Andy Bond, executive chairman, said that it would switch focus back to the UK, its biggest market.
Poundland swooped on 64 former Wilko shops earlier this year after the chain went bust and insiders said that around a quarter of its planned 400 new stores next year would be in the UK.
FORTNITE WIN OVER GOOGLE
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THE maker of video game Fortnite has beaten Google in a David v Goliath court battle.
Epic Games sued Google in 2020 for creating a monopoly with its Google Play app store.
The Fortnite maker argued that Google imposes a 30 per cent fee on app developers and ties its Play store and billing service together, forcing games developers to use both to make any money.
After a three-year legal battle, a jury in San Francisco found in favour of Epic and said Google had engaged in anti-competitive conduct that harmed the video game maker.
The ruling will shake-up Google’s Play store and mean that it will have to offer other company’s app stores, and lose revenue from customers’ in-app purchases.
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In-app purchases are frequently used in mobile phone video games when users want to buy extras.
Epic boss Tim Sweeney welcomed the verdict posting on X: “Victory over Google!”
DOUBLED DIP STOP
THE financial watchdog has told investment and pension platforms to stop profiting off customers’ cash balances.
Shares in Hargreaves Lansdown and AJ Bell fell yesterday as the Financial Conduct Authority said firms had until February 29 to stop profiting from interest rates.
City firms take fees from customers’ balances and bag windfalls from rising interest rates, known as “double dipping”. AJ Bell said it would reduce fees.
