Strategy Retains Nasdaq 100 Spot Amid Growing Scrutiny of Bitcoin Treasury Model 
U.S. Stock Futures Mixed as Tech and AI Stocks Face Pressure Ahead of CPI Data 
Moore Threads Stock Slides After Risk Warning Despite 600% Surge Since IPO 
SpaceX Insider Share Sale Values Company Near $800 Billion Amid IPO Speculation 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
California Jury Awards $40 Million in Johnson & Johnson Talc Cancer Lawsuit 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
ANZ Faces Legal Battle as Former CEO Shayne Elliott Sues Over A$13.5 Million Bonus Dispute 
United Airlines Flight to Tokyo Returns to Dulles After Engine Failure During Takeoff 
SK Hynix Considers U.S. ADR Listing to Boost Shareholder Value Amid Rising AI Chip Demand 
CMOC to Acquire Equinox Gold’s Brazilian Mines in $1 Billion Deal to Expand Precious Metals Portfolio 
Fortescue Expands Copper Portfolio With Full Takeover of Alta Copper 
Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise 
Unilever plc announced it is discontinuing the sale of Hellmann mayonnaise in South Africa. The company cited high inflationary import costs as the reason for its decision.
As per Reuters, the spokesperson of Unilever said that the suspension will be in effect “until further notice.” He also confirmed to the publication that aside from the high cost of importing from the United States, higher prices of raw materials are another cause of the pullout.
The British consumer goods company said it will continue to deliver 1-kilo tubs of Hellmann Mayonnaise to its Unilever Food Solutions business. It also clarified that its other brands are not affected by the exit in South Africa.
It was further explained that Hellmann’s mayonnaise is not being produced locally because it is a very small brand in the country. Thus, the ones being sold there are all imports from the U.S. where the products are manufactured.
After the mayonnaise maker made its announcement, Shoprite which owns the Checkers store chain in S.A. told Reuters that Unilever notified them about the discontinuation of Hellmann's Mayonnaise.
Meanwhile, Fox News reported that shoppers in the country negatively reacted to the news that the mayonnaise brand is being taken down from the grocery shelves. Customers were said to have flocked to social media to express their disappointments and many are really furious.
Some of the comments posted by the locals stated that they are having a meltdown due to the pullout of Hellmann’s mayonnaise while others said in a tweet, "We in the very last days" and "I am mortified." One unhappy customer also asked, "It is the best, what are we going to do, where am I going to get my fix, where am I going to get that taste?"
Business observers said that this event is one of the latest examples of how the rising costs are affecting food manufacturers and retailers. They are being forced to remove their products from supermarkets since raw materials, shipping fees, and other things related to production and distribution are all going up.
Photo by: Kelsey Todd/Unsplash
