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...British American Tobacco is facing pressure to move its primary listing to New York after a top-five shareholder said it “makes no sense” for the cigarette maker to remain on the UK stock market....
...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...
...Rival cigarette maker Imperial Brands has also endorsed a vape tax....
...Big share price moves in Europe today include specialist UK bank Vanquis Banking Group, tobacco company Imperial Brands, UK-based mining group Rio Tinto and UK car insurer Admiral Group: Vanquis Banking...
...Among those that have moved their primary listings to the US are building materials group CRH, packaging company Smurfit Kappa and gambling group Flutter....
...Global tobacco industry sales volumes will be down about 3 per cent in 2023, the group added, while reaffirming guidance for its own revenues this year....
...British American Tobacco shares have fallen by a quarter over the past year as it grapples with the uncertain long-term future of its traditional cigarette business and investors push for the return of share...
...HOLD: Imperial Brands (IMB) The company is returning a big chunk of its market cap to shareholders, writes Christopher Akers. Imperial Brands continues to produce results for income investors....
...The group has repeated its commitment to a smokeless world. In the rather foggier world of accounting, that means the group no longer values its US brands into perpetuity....
...Companies in long-term run-off sectors such as oil or tobacco face a stark strategic choice....
...The UK, in particular, is falling behind, with the worst download speeds in the group of G7 nations. Consolidation would help....
...Japan Tobacco International, the biggest tobacco group in Russia, never vowed to sell its Russian business, which accounts for 10 per cent of group revenues and 24 per cent of adjusted profits....
...Here, everything from language and sport to the diamonds, tobacco and booze in duty-free reveal that the current Indian government’s attempt to cleanse the country of imperial influence would be — as Sanghera...
...Diageo plans to appoint as chair Sir John Manzoni, a former chief executive of the UK civil service, while the drinks group is trying to draw a line under a bruising year that has triggered a slump in its...
...In its most recent results the tobacco group said revenue from so-called reduced-harm products rose 27 per cent in the six months to June....
...In contrast to BAT, rival FTSE 100 group Imperial Brands is retiring about 5 per cent of its equity as part of a £1bn share buyback programme running until September....
...Rival UK-listed group Imperial Brands — which in 2021 pivoted back to cigarettes — has gained 44 per cent over the same period....
...Shares in the London-listed group were flat in early morning trading....
...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....
...Tobacco companies such as BAT and Imperial have little use for surplus cash except buybacks....
...Simon Clark, director of the lobby group Forest, which is funded by the tobacco industry, said: “Anyone who wants to smoke will buy tobacco abroad or from illicit sources.”...
...Much like Big Tobacco or Big Oil, gambling companies face a dilemma. Their legacy businesses in mature markets face stricter scrutiny and regulation....
...Other dividend payers to feature prominently in top 10 charts include Phoenix Group, the UK’s largest savings and retirement business....
...His previous roles included group transformation director and regional director for Europe and north Africa. He will receive a base salary of £1.34mn as chief executive....
...Indeed, one has to ask whether there is indeed an independent future for this middle-ranking consumer PLC in a market place so dominated by huge global players?...
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