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Tuesday newspaper round-up: Unilever, Scottish Mortgage, Drax

Published 21/03/2023, 07:22
Tuesday newspaper round-up: Unilever, Scottish Mortgage, Drax
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Sharecast - Magnum has cut the number of ice creams sold in its multipacks despite the price staying the same for shoppers. Unilever (LON:ULVR), the owner of the brand, has shrunk the size of the packs by a quarter in the latest round of shrinkflation on supermarket shelves.- Telegraph

A US-based developer of small nuclear reactors has signed a deal to sell 24 of its power plants to UK customers, putting pressure on rival makers including Rolls-Royce (LON:RR). Last Energy said the £100m modular units, which are two-thirds the size of a football pitch, can output 20MW of electricity, enough to power 40,000 homes. They will be deployed in 2026 with no government funding required. – Telegraph

Scottish Mortgage Investment Trust has been guilty of governance violations going back months, according to a rebel director at the centre of a board bust-up at the FTSE 100 investment company. Amar Bhide, who has been a main board director since 2020, told The Times there had been “a long series of procedural violations” that were “brushed aside” and that he intended to publish details shortly. – The Times

Drax, the owner of Britain’s biggest power station, has warned that the plant could become unviable when its subsidies run out in 2027, threatening Britain’s energy security. The FTSE 250 group said that the future of the biomass-fuelled power plant in North Yorkshire from which it took its name, which can supply four million homes, was in doubt unless it was swiftly offered new subsidies to support the development of a £2 billion carbon capture and storage (CCS) facility at the site. – The Times

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