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Jerry Greenfield Quits Ben & Jerry’s After 47 Years, Citing Unilever “Silencing” Over Gaza

  Unilever and Ben & Jerry's have clashed since 2021, when the ice cream maker said it would stop sales in the Israeli-occupied West Bank. Ben & Jerry’s co-founder Jerry Greenfield has resigned after nearly five decades at the iconic ice cream brand, deepening a long-running feud with parent company Unilever over its stance on the Gaza conflict. In an open letter shared by partner Ben Cohen, Greenfield said the company’s independence — enshrined in its 2000 merger agreement with Unilever — had eroded, leaving its social mission “silenced.” The rift traces back to 2021, when Ben & Jerry’s halted sales in Israeli-occupied West Bank settlements, a move Unilever opposed. The dispute escalated as the brand’s social mission board described Israel’s war on Gaza as “genocide,” a rare position for a major U.S. company. Unilever’s ice cream division, Magnum, thanked Greenfield for his contributions but rejected his claims, saying it sought constructive dialogue to preserve the...
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Markets, Tech Leaders Start Friday in the Red

 


Wall Street began the day with a cautious tone as markets dipped into the red. The S&P 500 and the Dow Jones Industrial Average both edged down by less than 0.2% during early trading. This week has been a seesaw of small gains and losses, largely influenced by a mix of economic data.

One notable report revealed that inflation at the wholesale level last month was hotter than economists had anticipated. This trend of consistently worse-than-expected inflation data has dashed earlier hopes of the Federal Reserve cutting interest rates at its upcoming meeting. However, there’s a glimmer of optimism: other reports released on Thursday hinted at some softening in the economy, suggesting that the long-term inflation trend might still be downward. Investors are speculating that the Fed may initiate three rate cuts this year, starting in June.

In pre-market trading, Adobe, the software maker, stumbled by 11.2% after providing tepid guidance, despite surpassing Wall Street’s sales and profit targets. Similarly, Ulta Beauty, the cosmetics retailer, outperformed analysts’ expectations but issued guidance that left investors wanting. Its shares slid 7.2% before the opening bell today.

Global Market Snapshot

  • In Europe, the DAX in Germany rose 0.4%, the FTSE 100 in London saw a modest uptick of less than 0.1%, and the CAC 40 in Paris jumped 0.6%.
  • In Asian trading, Tokyo’s Nikkei 225 declined 0.3% to 38,707.64. Automakers Honda and Nissan gained ground ahead of their collaboration announcement in electric vehicles and auto intelligence technology. Honda Motor Co. rose 1.7%, while Nissan Motor Co. climbed 3.2%.
  • In South Korea, the Kospi dropped 1.9% to 2,666.84. Hong Kong’s Hang Seng slipped 1.4% to 16,720.89 due to ongoing housing price declines since February. Meanwhile, the Shanghai Composite index in China edged up 0.3% to 3,054.64. China’s market watchdog emphasized the need for high-quality economic and social development by announcing tighter standards for listing companies.

In the bond market, Treasurys stabilized somewhat after Thursday’s rise, with the 2-year yield holding at 4.69% and the 10-year yield easing back to 4.27% from 4.29%.

As the dynamic market environment continues to keep investors on their toes, we’ll closely monitor economic data, corporate earnings, and global developments. Stay tuned for further updates throughout the week.

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