Imperial Brands and British American Tobacco sign deals for new credit March 31, 2020 Imperial Brands and British American Tobacco (BAT) have announced deals for new credit but say the pandemic has had little material effect on business. Imperial Brands announced a €3.5bn (£3.13bn) multi-currency revolving credit facility (RCF). The credit line has an initial three-year term that could be extended bi-annually. BAT separately said it had priced an [...]
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: [...]
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 [...]
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 [...]
British American Tobacco boosts revenue to £25.8bn February 27, 2020 British American Tobacco today said its revenue rose nearly six per cent to £25.8bn last year. The tobacco giant reported adjusted diluted earnings per share of 323.8p, which was ahead of expectations and represented growth of 8.4 per cent at constant currency. Reported earnings per share was 12 per cent below Bloomberg’s consensus after a [...]
FTSE 100 CEO churn reaches five year high, but women continue to miss out on top roles July 24, 2023 Women are much less likely than men to secure the top job at Britain’s largest companies despite FTSE 100 firms shaking up their boardrooms at the fastest pace in five years, a new study out today shows. Just 27 per cent of chief executive appointments on London’s premier stock index in the first six months [...]
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 [...]
Vaping hits record high with over four million Brits turning to e-cigarettes August 29, 2022 New data has revealed that there are now five times as many vapers in the UK than there were in 2012, as the e-cigarette revolution takes off.
See you in court: keep an eye out for the most interesting cases in 2024 December 28, 2023 Coming soon: Alleged confidential leaks, missing aircraft in Russia and alleged negligence by a Big Four accountancy firm