Imperial Brands must invest in new, safer heating products to compete with tobacco giants December 11, 2016 Imperial Tobacco's failure to invest in safe new products could hit future profits, City analysts have said. The tobacco giant's reluctance to develop reduced risk materials could impact on long term growth after rival firms have poured billions into developing safer cigarette technology. British American Tobacco (BAT), Philip Morris International (PMI) and Japan Tobacco International (JTI) all [...]
Happiest place on earth no more: Shareholders in Euro Disney battle with Walt Disney over licensing fees December 11, 2016 Walt Disney has charged Euro Disney nearly €1bn in licensing fees over the past decade, and minority shareholders have had enough, saying the American entertainment giant is preventing the owner of Disneyland Paris from making a profit. Reports show Charity Investment Asset Management (CIAM), a French hedge fund, said Walt Disney scooped €930m (£780m) in royalties allowing Euro Disney [...]
No, vinyl isn’t bigger than digital downloads – but it could easily outlive them December 9, 2016 Earlier this week, a story did the rounds which prompted some debate in the UK music world. This is the news from Entertainment Retailers Association (ERA), which suggested digital music had been beaten in sales by that stubborn old minx, vinyl, for the first time since its inception. A rare positive tale of a physical [...]
How does craft gin compete against big brands? “Create weird and wacky stuff,” says distiller December 9, 2016 Yesterday, gin stole the show as 2016's most profitable spirit as the sector passed a £1bn sales mark for the first time ever, six months ahead of schedule. Today, craft distiller Tom Warner, co-founder of Warner Edwards, gave City A.M. the low-down on the artisan industry. Warner Edwards was founded just over four years ago by [...]
Coca-Cola chief executive Muhtar Kent said he’s stepping down in May December 9, 2016 Coca-Cola chief executive Muhtar Kent said he will step down in May and be replaced by chief operating officer James Quincey. Kent, 64, has worked as chief executive of the beverage company since 2008 and will continue as chairman. He said it was "the most wonderful and unique privilege" to work for the company, and will officially step down 1 [...]
Mapped: Experts analysed 120 years of housing data to show how 14 of London’s boroughs have changed December 9, 2016 Each of London's 32 boroughs has its own unique history, and now you can see how housing changed for 14 of them over the past century. Property consultancy Knight Frank today launched an interactive report that uses 120 years of London housing to study how the areas have changed over time. The case studies detail the history of each [...]
Fyffes’ shares rocket after bananas deal from Sumitomo December 9, 2016 A lot people seem to think 2016 was the year when the world went bananas. And today, investors in them will be going bananas too. Sumitomo, one of Japan's largest conglomerates, revealed it was splashing out €751m (£631m) to buy Irish banana giant Fyffes. Read more: How bananas could one day cure the flu Offering shareholders €2.23 [...]
Food and drink representatives want special protections for their EU workers guaranteed in Brexit negotiations December 9, 2016 Food prices will rise if EU workers employed in the food and drinks industry are forced to leave, representatives of the sector today warned. More than 30 food and drink bodies came together to call on the government to give "unambiguous reassurance" to EU workers they can stay and work in the UK after Article [...]
Photo-Me beams over a successful six months as investment in new areas pays off December 9, 2016 Photo-Me International is all smiles after it outperformed in its half-year results. The figures The photo booth operator’s revenue grew to £110.6m, up 19.2 per cent, or £96.5m at constant currency, up four per cent. Pre-tax profits increased 20.2 per cent to £31m, while rising to £26.9m, up 4.3 per cent at constant currency. As of October, the group had 46,760 units, up [...]
BAT’s vaping robots find e-cigarettes don’t deliver as much nicotine as traditional smokes December 9, 2016 Vaping robots are testing British American Tobacco’s electronic cigarettes to find out how nicotine and vapour delivery to lung cells compare to traditional cigarettes. Dr James Murphy, head of risk substantiation at BAT, said the company had to be sure that other tests weren’t just saying e-cigarette vapour had a reduced impact because it was [...]