City Moves: Who’s switching jobs in the Square Mile this week? June 30, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. IoD’s chief economist departs for Fitch Ratings The Institute of Director’s (IoD) chief economist will step away from the role next week to become director of economics at US credit rating [...]
British American Tobacco maintains full-year guidance December 12, 2018 British American Tobacco (BAT) today backed its full-year guidance, saying plans to deleverage the business remain on track. The tobacco firm, which owns cigarette brands such as Dunhill and Lucky Strike, said it will exceed its high single-figure earnings per share growth, despite a six per cent currency impact. In a trading update BAT said [...]
FTSE 100 slips but global markets hit fresh highs on vaccines and stimulus December 17, 2020 The FTSE 100 slipped, weighed down by a rising pound, as global markets hit a new all-time high amid optimism about vaccines and fiscal and monetary stimulus. Despite the rise in global stocks, the FTSE 100 lagged behind as the pound rose 0.8 per cent to $1.360, a 32-month high. A higher pound weighs on [...]
S&P 500 and Dow climb for third day and close at records April 9, 2021 The S&P 500 and the Dow rose to close at record highs, posting a third straight weekly rise partly on lift from growth stocks, with a late-day rally building gains ahead of quarterly earnings season next week. The Dow Jones Industrial Average rose 299.21 points, or 0.89 per cent, to 33,802.78, the S&P 500 gained [...]
FTSE 100 dividend payouts fall to lowest level in nearly a decade September 29, 2020 Dividend payouts by FTSE 100 firms have dropped to their lowest point in nearly a decade as the pandemic forces companies to slash payments. Dividend payments for FTSE 100 firms are forecast to plunge 24 per cent this year, according to AJ Bell. It follows an 11 per cent drop in 2019, leaving the total [...]
BAT warns of coronavirus pandemic revenue blow June 9, 2020 British American Tobacco (BAT) reduced its full-year revenue forecast today as a result of coronavirus, predicting a three per cent hit from the pandemic. The cigarette giant said it now expects revenue growth of between one and three per cent in 2020, compared to growth in the low end of a previous prediction of three [...]
FTSE 100 closes higher and US stocks jump amid election uncertainty November 4, 2020 The FTSE 100 closed on a high and US stocks shot up as traders sought out the safety of recent corporate success stories in the face of a knife-edge presidential election. Wall Street’s major indices all opened higher as the race for the White House went down to the wire, despite investors remaining worried about [...]
British American Tobacco warns of earnings hit thanks to currency headwinds October 16, 2018 Full year earnings growth at British American Tobacco (BAT) is set to fall seven per cent due to currency headwinds, the cigarette company said in a trading update today. However, the FTSE 100 firm said its next generation products division, including vaping and heated tobacco products, will grow by double digits to reach £900m in [...]
UK dividend drought continues into third quarter October 21, 2020 The collapse of corporate dividends this year continued into the third quarter, as payouts slumped by nearly half to £18bn. Companies have scrambled to conserve cash amid the crisis, and the 49 per cent drop last quarter represents the lowest third quarter total in a decade since the aftermath of the global financial crisis. Although [...]
British American Tobacco names company man as new boss September 25, 2018 British American Tobacco has named company man Jack Bowles as the successor to outgoing chief executive Nicandro Durante. Last week Durante announced his intention to step down as boss of the tobacco giant after 37 years in charge. Bowles, currently chief operation officer of BAT's international business, will take over in March but become chief [...]