FTSE 100 close: Standard Chartered, BP and AstraZeneca continue London index’s surge February 9, 2023 London’s FTSE 100 continued its relentless upward march today, led higher by bank Standard Chartered and oil giant BP extending a week-long rally. The capital’s premier index rose 0.33 per cent to 7,911.16 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK, was broadly flat at [...]
The UK’s biggest mining and energy businesses may need to wean themselves off China February 3, 2023 In this guest opinion piece, Daniel Dalton, former Conservative MEP and former CEO, British Chamber of Commerce to the EU, writes that Britain’s firms need to deal with China with their eyes wide open Encouraged by successive governments, British companies have spent many years courting China, its resources and its huge, increasingly affluent population. British [...]
Shares dip for British American Tobacco as Supreme Court clear vape ban December 13, 2022 Shares dipped for British American Tobacco this morning after the US Supreme Court blocked an emergency request to put the ban of flavoured tobacco on hold. The court cleared the way for the state of California to push ahead with a voter-approved ban, rejecting a plea from British American Tobacco (BAT)’s Reynolds unit. The arm, [...]
British American Tobacco doubles down on vaping as smoking industry shrinks December 8, 2022 British American Tobacco (BAT), one of the world’s largest cigarette suppliers, has doubled down on its new categories such as vaping as the tobacco industry shrinks. The London-listed company’s revenue has grown in the past few months, despite the public in both Europe and the US leaning away from smoking. The shift away from smoking [...]
Philip Morris finally wins backing for £13bn Swedish Match deal November 7, 2022 Malboro maker Philip Morris International finally wins support for its $15.7bn takeover of Swedish Match, despite securing slightly less than 90 per cent of backing. PMI said said it nabbed 82.59 per cent of the Swedish company, short of the 90 per cent level at which it can start a compulsory purchase of remaining shares. [...]
Growth for Durex owner Reckitt as punters find new way to warm the home October 26, 2022 CONSUMER giant Reckitt enjoyed another bumper quarter heading into the winter – with strong momentum in one particular category suggesting consumers across the world might have found alternative ways to keep warm amid the energy crisis. The firm said it had seen “strong growth” in its intimate wellness portfolio, which includes Durex and KY, alongside [...]
Juul eyes up investor bailout as it fends off US regulatory hurdles October 25, 2022 JUUL is reportedly in talks with two of its top investors about a potential bailout as the vaping giant fends off US regulators. As first reported by the Wall Street Journal (WSJ), Hyatt Hotels heir Nick Pritzker and Riaz Valani are weighing up whether to cover the firm’s operations and near term legal liabilities. The [...]
Imperial Brands plans £1bn share buyback to help investors cash in on growth October 6, 2022 Imperial Brands announced that it has launched a £1bn buyback programme to reward loyal investors, which have helped the firm climb towards the top of the FTSE 100. The cigarette giant, which makes brands like Rizla and JPS, said it would repurchase as much as 5.3 per cent of its stock in a year-long programme: [...]
Tobacco chief denies unfair Western focus for vape strategy October 6, 2022 Top dog at cigarette giant British American Tobacco (BAT) has pushed back against claims that the company’s focus for smoking alternatives has unfairly focused on the West, calling this narrative “superficial”. Speaking to City A.M., chief marketing officer Kingsley Wheaton said that whilst it was “certainly true” that the northern hemisphere have a “more advanced [...]
Tobacco chief says we need to move away from ‘quit or die’ mindset and towards vapes September 29, 2022 A top exec at British American Tobacco (BAT) has said we need to move away from the “quit or die” approach to smoking and invest more in sustainable alternatives like vaping. Speaking at an industry conference in Washington D.C., BAT’s chief growth officer Kingsley Wheaton called for greater collaboration between the industry and governments to [...]