British American Tobacco (BAT) hopes for lucky strike with $47bn offer for remaining stake in Reynolds American October 23, 2016 Reynolds American is this week expected to respond to a $47bn (£38.4bn) takeover offer from British American Tobacco (BAT), in a move that would create the world’s largest listed tobacco group by turnover. FTSE 100-listed BAT, which already owns 42.2 per cent of Reynolds, said on Friday it will pay $56.50 per share in a [...]
Debenhams’ boss in the spotlight over pension fund woes October 23, 2016 The new chief of Debenhams, Sergio Bucher, will be under the microscope for the first time this week when the company announces its full year results. Bucher joined the department store from Amazon, where he was vice president, and is under pressure to solve the question of Debenhams' growing pension scheme deficit. Analysts at Morgan [...]
Weak pound means pricier petrol and more VAT for the Treasury October 22, 2016 Treasury coffers have been bolstered by the weakened pound driving up prices at the pump according to a report released today. Fuel prices have risen by an average of 3.5p a litre over the last month. This means that the government is raking approximately £25m each month in increased VAT revenues, the AA Fuel Price report revealed. Read more: [...]
Greggs sausage rolls up the leaderboard in hospital food poll October 22, 2016 A ranking of the healthiest providers of hospital food revealed that one of the nation's favourite bakeries was narrowly pipped to the top spot. The "Healthy Hospital Food: 2016 Brand League Table" compared the performance of how well companies meet NHS England targets on healthy checkouts, food advertising and price promotions in hospitals. Although the Royal Voluntary Service and [...]
Sugar-cane restrictions are up for renegotiation, which could play into Tate & Lyle’s hands October 21, 2016 The owner of one of Britain's oldest and most distinctive brands has labelled the UK's departure from the EU as the "biggest opportunity of our lifetime". Tate & Lyle, most famous in the UK for its golden syrup said that removing the shackles of EU quotas and tariffs would mean that it could increase production to a [...]
McDonald’s shares jump after more strong sales (despite killer clown craze) October 21, 2016 It looks like all McDonald's needed was a bit of wisdom from Watford man Steve Easterbrook. The fast food giant has just posted its fifth straight quarter of rising sales. The figures Global sales rose 3.5 per cent in the three months to the end of September, it said it an update today, pushed up by a 1.3 [...]
Burberry share price jumps over five per cent on reports of interest from US designer Coach October 21, 2016 Burberry's share price jumped six per cent this afternoon on reports that US designer Coach is interested in merging with the British designer. Financial blog Betaville reported that Coach has engaged investment advisory firm Evercore to work with the two companies on a potential tie-up. According to a source cited by Betaville, senior executives from Coach [...]
Prom boom boosts Moss Bros’ retail sales, rather than just its hire division October 21, 2016 The chief executive of one the UK's oldest high street names said that a British prom boom was driving "fantastic" sales growth. Moss Bros boss, Brian Brick, said that 80 per cent of Britain's schools now have proms. And this wasn't just having a positive impact on its suit hire division, it was boosting sales in its larger [...]
Competition and Markets Authority launches probe into online betting companies’ complex small print October 21, 2016 Online gambling firms are facing a crackdown from the UK's consumer rights watchdog over fears they may be "conning" their customers with opaque and unfair terms and conditions. The Competition and Markets Authority (CMA) has today launched an investigation into the £4bn a year industry after complaints were raised by the official regulatory body, the Gambling [...]
Consumers feeling cheery ahead of the Christmas shopping season October 21, 2016 Consumer confidence is looking up ahead of the biggest quarter for retailers – the Christmas season. Consumers are shaking off the Brexit blues and feeling more positive about their earnings before Christmas, according to a report from PwC. PwC said 19 per cent of respondents in its consumer survey said they expect to be better off [...]