Unilever drops London for HQ

The Hague: Anglo-Dutch consumer giant Unilever on Thursday chose The Netherlands over London to host its headquarters, dealing a blow to Britain''s efforts to keep multinational companies onside following Brexit.

Unilever, whose famous brands include yeast extract Marmite, PG Tips tea and Persil washing powder, announced in a statement that it "intends to simplify from two legal entities, N.V. and PLC, into a single legal entity incorporated in the Netherlands".

The news represents a blow to British Prime Minister Theresa May, analysts say, as her Conservative administration battles to secure a Brexit trade deal with Brussels.