Hints and tips:
...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....
...The Food and Drug Administration said on Thursday that it had issued marketing denial orders for six vaping products sold by BAT-owned RJ Reynolds Vapor Company under its Vuse Alto brand....
...A £25bn impairment on its Reynolds American unit, coupled with lower growth estimates, incinerated nearly a tenth of the company’s value....
...Rae Maile, a tobacco analyst at Panmure Gordon, said: “BAT was an outlier in having so much brand value capitalised on its balance sheet resulting from the acquisition of Reynolds American....
...Companies in long-term run-off sectors such as oil or tobacco face a stark strategic choice....
...Crew, a former chief executive of Reynolds Tobacco who joined Diageo in 2019 as a board member, has also had to contend with doubts over growth in the US, its most important market, where sales have been...
...It crops up again as long-cut tobacco in Django Unchained (2012), which is set in 1858, making it one of the oldest cigarette brands....
...and growth officer, taking on responsibility for the tobacco giant’s vaping drive and its ESG push....
...British American Tobacco, with help from its 2017 acquisition of Reynolds, has done a bit better....
...’s costly acquisition of US rival Reynolds American in 2017....
...Instead, the former Reynolds Tobacco boss was besieged by analysts demanding clarity after the company issued a profit warning on the back of falling sales in Latin America days earlier....
...Last year, Vuse Alto, a product made by rival RJ Reynolds, a subsidiary of British American Tobacco, overtook Juul as the US’s best-selling vape product....
...American Tobacco....
...Jonathan Reynolds, the business spokesman, has spent years affably courting the City....
...Last month, BAT’s US subsidiary Reynolds wrote to the FDA pressing them to ban Elf Bar, among other single-use competitors....
...They allow addicts to get their hit without breathing in chemicals from tobacco....
...Enrich contrasts that approach with Jones Day’s representation of tobacco company RJ Reynolds in the 1980s....
...Its largest smoke-free product is the heated tobacco device IQOS, which Altria sells in the US but is currently banned from doing so due to a patent dispute with rival RJ Reynolds....
...Price rises of processed food, alcohol and tobacco accelerated to hit 10.5 per cent, their first double-digit increase....
...Just as important was the agency’s decision to reject five flavoured tobacco products also made by Reynolds American, the BAT subsidiary that markets the Vuse Solo....
...Jack Allen-Reynolds, senior economist at Capital Economics, predicted the ECB would raise rates three times this year by a total of 0.75 percentage points, saying: “The ECB will soon conclude that it can...
...First, some news to come out of our panel with Philip Morris International chief Jacek Olczak: the company will no longer pursue a combination with fellow tobacco group Altria, from which it split in 2007...
...The lawsuit comes weeks after Reynolds filed its own patent-infringement claim against Altria and rival Philip Morris International over the companies’ heated tobacco products....
...That sums up the investment case for tobacco stocks. For all that British American Tobacco is a purveyor of cancer-carrying sticks, the shares yield circa 7 per cent....
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