Hints and tips:
...The strongest evidence in favour of ESG is on the discount rate front. There are signs that “sin” stocks such as tobacco or weapons companies face higher costs of funding than good companies....
...Altria spun off its international wing, bearing the name Philip Morris, more than a decade ago, partly as a response to shares trading at a discount to the sum of the company’s parts....
...The US tobacco behemoth has written down its $12.8bn investment in e-cigarette group Juul Labs by more than a third....
...The valuation premium to other tobacco stocks reflects volume growth and lower ESG risks....
...TATE has done sterling work on rebuilding its balance sheet and cashflow in recent years, reflected in FY20E ND:EBITDA (inc. IFRS 16) of 0.9x & 1.8x FCF dividend cover....
...Saifuddin Bhanpurawala is one of dozens of shopkeepers on a dusty Mumbai back street that bustles with customers buying everything from tobacco to perfume....
...That makes it one of the top 10 earners in the world, surpassed only by a couple of telecoms and tobacco companies, Apple and Berkshire itself....
...Previously they have not been, because they do not sell tobacco....
...Tobacco companies trade at a discount to other consumer companies because of their “terminal growth rates”, he said, referring to the steady decline in the numbers of cigarettes sold as smokers quit....
...In tobacco companies, however, we believe investor constancy will reap an earlier reward....
...US customers combining into “mega-buyers” (called general purchase organisations) are demanding large discounts, while Indian generic companies are increasing US market share....
...But it also said it intended to recommend to a UK court that its two largest shareholders — Altria, the US tobacco company and BevCo, the family investment vehicle of Colombia’s Santo Domingo family — be...
...Dollar General is the biggest gainer on the S&P 500 on Thursday after the discount retailer reported better than expected fourth quarter profits as sales of candy, food and tobacco jumped....
...“Excess profit” rulings allowed business to discount profits that stemmed from the benefits of being a multinational, such as cost synergies or reputation, from their tax bill....
...Multinationals such as British American Tobacco and Spanish construction conglomerate Abertis are among those taking advantage of depressed Brazilian asset prices to take locally-listed subsidiaries private...
...These are some of the most popular items this week at discount chain Poundland. The past few years have been good for pound stores....
...Imperial Tobacco reports a 6 per cent drop in tobacco volumes in the first nine months....
...On average, since 2000 the sector had ended the year trading at an 18 per cent discount to the broader market....
...Japan Tobacco declined to comment on the letter....
...The struggles of discount retailer Family Dollar are about poor customers and poor choices....
...Audacious Alison Imperial Tobacco’s cigar-smoking chief Alison Cooper is unlike most bosses, writes Kate Burgess. But then tobacco is unlike other industries....
...The FTSE Eurofirst 300 is down 0.3 per cent, partly reflecting heavy falls for the tobacco sector, but a buoyant Tokyo helped the FTSE Asia Pacific index jump 1.5 per cent....
...Dollar General stuck to its profit forecast even as consumers spend more on lower-margin items at a US discount chain that has fared well since the financial crisis....
...But I am increasingly drawn to Costco, the discount warehouse that sells stuff in bulk, because, according to no less an authority than Barack Obama, it treats its employees relatively well, better, for...
...Companies have also offered doctors discounts or donations of their medicines to wean them off rival products....
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