Unilever (UL) -2.3% premarket and trading lower overseas on worries about increased competition...

|By:, SA News Editor

Unilever (UL) -2.3% premarket and trading lower overseas on worries about increased competition due to Procter & Gamble's (PG) cost-cutting plans. "P&G will be creating more flexibility that could impact peers, such as Unilever," an ING analyst says. "We believe P&G could make another leap forward with this plan just as Unilever was about to catch up."