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Wednesday, May 15, 2024

Consumers hold recession fears at bay

Ben & Jerry’s ice cream, owned by Unilever, on display at a store in New York City.

Heightened worries about the strength of consumers and the global economy have been put on hold — at least for now — after some of the world’s best-known companies delivered a slew of better-than expected numbers.

Unilever Plc on Thursday reported sales that topped expectations, keeping up the surprises after Nestle SA kicked off the week with a similar disclosure. Carlsberg A/S notched up its full-year profit outlook and LVMH reported an 18% sales surge as Chinese shoppers splashed out on luxury handbags and jewellery.

The good news wasn’t confined to consumer goods. Results from Alphabet Inc’s Google and Microsoft Corp gave Big Tech a lift,…

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