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...British American Tobacco said on Thursday that it was working on divesting some of its nearly 30 per cent stake in India’s largest tobacco company ITC, potentially paving the way for it to resume share buybacks...
...Cigarettes are cheap in Gibraltar because the British territory does not apply sales tax or other levies, enabling smuggling gangs to sell them at a mark-up in Spain after hauling them there on five-minute...
...Tax rise after tax rise on tobacco will have helped....
...By contrast, population-level restrictions are cheap or even revenue raising and tend to significantly improve outcomes....
...I’m not seeing it in tobacco: The difference in returns here is amazing, and there is a leverage difference, too. Give me Altria over British American Tobacco all day....
...Financially, big tobacco has adopted a cash cow strategy....
...This cheap valuation, combined with a high dividend yield, reflects the market’s fears about regulatory issues and the secular decline in tobacco smoking....
...He sent me four such UK/US pairs: in Banking, Standard Chartered and Citi; in Homebuilding, Cairn Homes and Lennar; in Tobacco, Imperial Brands and Altria; in defence contracting, Babcock International and...
...Chile and Mexico have introduced tobacco-style black labels to junk food packaging to deter consumers....
...In some ways, the future of vaping is a near-perfect product: cheap, instant, leaving you always wanting another. A lot like a cigarette....
...One FT reader points out that British American Tobacco looks cheap on a like-for-like basis, compared with Altria in the US, and offers a dividend touching 10 per cent....
...Like its expertly designed and cut garments, which are not cheap but hover at just the right upmarket price points, and understated marketing that manages to cut through a crowded and noisy fashion landscape...
...The price argument is still there — the shares look cheap on Morgan Stanley’s analysis. But where is the momentum going to come from? Honestly, we can’t tell....
...Some good news Global tobacco use has dropped from one in three adults in 2000 to one in five in 2022 despite rearguard action from the industry, according to a World Health Organization report....
...At the bottom of those screens, every time we ran them, would be a handful of incredibly cheap stocks that we all knew were not worth pitching....
...[or that] tobacco legislation should be written by charities funded by British American Tobacco. Why should food policy around health be any different?” That culture persists....
...Then five two-unit holdings — British American Tobacco, Phoenix, Primary Health Properties, Secure Trust and Taylor Wimpey — again juicy yields averaging about 7 per cent....
...In the brief period I spent in the City of London, becoming a chartered accountant, I had the good fortune to be sent on the audit of the Imperial Tobacco pension fund....
...Unhealthy food is deadlier than tobacco....
...Investors can buy the stocks cheap, and then insist that the company pay out lots of its profits in dividends or buy back lots of shares, increasing investor returns....
...Small restaurants were comparatively cheap to set up and provided work for a whole family....
...🎬 FT film: From the production of cheap battlefield drones to AI-powered missile warning systems, Ukraine’s tech sector has put itself on the frontline of the war effort....
...Perils of cheap money Much of the Ghanaian government’s spending took place in a world of low-interest rates....
...Many ESG funds are quite broad-brush in their scope but clients may have more nuanced principles; determined to avoid tobacco stocks but relaxed about alcohol, for example....
...where cigarettes were “too cheap” and to catch up with inflation....
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