London Report: GDP figures and housing prices reveal recovery October 20, 2013 GROSS domestic product (GDP) figures due on Friday are expected to reveal the UK’s solid recovery prospects, coupled with further good news from Nationwide and Rightmove housing figures earlier in the week. Analysts predict further improvement in the economy, with third quarter GDP expected to rise. “We expect GDP to rise 0.8 per cent quarter-on-quarter. [...]
Ecigarette firm Vapestick to raise £10m to fund expansion August 4, 2013 An ecigarette company used by a number of celebrities, including Ronnie Wood and Kate Garraway, has confirmed to City A.M. its plans to raise £10m for expansion. Vapestick said that it wants to move quickly to secure a dominant market position, as it believes the industry is currently undergoing a “brand race”. The move follows [...]
London Report: Barclays, Bank of England and Lloyds in focus February 9, 2014 BRITISH banks will be under the spotlight this week as Barclays and Lloyds deliver their full-year results and Bank of England governor Mark Carney updates the markets on its forward guidance policy for setting rates. Lloyds has already provided an update on its progress, predicting an underlying profit of £6.2bn for 2013 compared to £2.6bn [...]
London Report: UK’s corporate calendar packed in results season July 28, 2013 THE CORPORATE calendar is packed this week, as businesses including ITV, BP, Lloyds, Barclays and Royal Bank of Scotland update the market amid a swathe of other results. The week begins with figures from Fidessa Group, Hammerson, InterContinental Hotels Group, Intertek Group, JKX Oil & Gas, Keller Group, Senior, Vernalis, Reckitt Benckiser Group, National Grid, [...]
The Japanese taste for British and US classics January 13, 2014 WE LOVE a bit of sushi in the City, sipping sake at the top of the Heron Tower or sampling the latest sashimi in Roka – but it looks like our friends in Japan have reciprocated and developed a taste for all things western, snapping up British and American brands faster than you can say “sayonara [...]
British American Tobacco sales stunted by exchange rate woes July 25, 2012 BRITISH American Tobacco (BAT)’s growth in emerging markets was cancelled out by a strong pound, as the cigarette maker saw a slight rise in profits in the first half of the year. The world’s second largest tobacco firm, which makes Kent, Dunhill, Lucky Strike and Pall Mall cigarettes, said it expects continued earnings growth in [...]
Brothers who took a punt on a new market | City A.M. June 13, 2013 Annabel Palmer talks tobacco with Taz and Umer Sheikh: salesmen, business partners, and self-professed pioneers of the growing electronic cigarette industry SIX years ago, the smoking ban came into force in England, making it illegal to smoke in enclosed workplaces. So when I meet Umer Sheikh – the younger of the two Sheikh brothers behind [...]
Brothers who took a punt on a new market June 13, 2013 Annabel Palmer talks tobacco with Taz and Umer Sheikh: salesmen, business partners, and self-professed pioneers of the growing electronic cigarette industry SIX years ago, the smoking ban came into force in England, making it illegal to smoke in enclosed workplaces. So when I meet Umer Sheikh – the younger of the two Sheikh brothers behind [...]
Illicit cigarettes stunt Imperial Tobacco growth January 30, 2013 THE RISING black market for cigarettes in Europe has hit profits at Imperial Tobacco, the FTSE 100 giant said yesterday. Imperial said that sales of cigarettes in the EU are currently around five per cent lower than last year, as rising prices and squeezed budgets meant more people buying illegal cigarettes. “Given our ongoing investment [...]
BAT buys out e-cigarettes firm December 19, 2012 ■ British American Tobacco (BAT) has made further strides in the e-cigarette market, buying Manchester-based CN Creative. The cost was not disclosed, but is believed to be in the tens of millions of pounds. BAT’s Kingsley Wheaton said that the firm is looking to provide safer alternatives to cigarettes.