BAT returns to Myanmar after 10 years
British American Tobacco is returning to Myanmar a decade after campaigners forced the company to leave the Asian country due to BAT’s links with the military regime. BAT said it would spend about $50m on a factory in Myanmar to produce its London brand of cigarettes. It left the country after an “exceptional” request from the British government in 2003.
LVMH spends €2bn on cashmere brand
LVMH has paid €2bn for a majority stake in Loro Piana, making the fashion house famed for its baby cashmere the latest in a string of Italian family-owned companies to cede control to French luxury goods groups.
Kazakhstan plans push into Europe
Kazakhstan’s state oil company is planning a big push into Europe, as it pursues a greater share of the region’s petrol market.
Rise of Shoreditch to reach 50th floor
The architecture firm responsible for the Gherkin is to push the City deeper into fashionable Shoreditch by designing apartments intended for sale to Chinese buyers. Foster + Partners will work on the 50-storey residential tower at Principal Place on the edge of the Square Mile, which is to be developed by a Canadian group in which Li Ka-shing, Asia’s richest man, was a founding shareholder.
The Daily Telegraph
Taxman losing more VAT appeals
The taxman is losing 60 per cent of appeals against its VAT decisions because it is under Treasury pressure to take a more aggressive line in tax collection, Pinsent Masons lawyers claim.
Business leaders lash out at Hollande
French business leaders have lashed out at President Hollande over the economy.
THE WALL STREET JOURNAL
Barnes & Noble chief resigns
Barnes & Noble chief executive William Lynch has resigned, and the bookseller unveiled a handful of executive changes.
Twinkie returns with less baggage
When Twinkies return to store shelves next week, they will be lighter and freer—not of fat and calories, but of debt and old union workers.