Imperial Brands “on track” but cigarette packaging changes and end of Philip Morris International distribution agreement take their toll September 29, 2016 Big Four tobacco group Imperial Brands is on track to meet its full-year expectations but has taken a hit from new packaging regulations and the termination of a distribution agreement with Philip Morris. The Winston and Gauloises maker is set to make £7.16bn in total tobacco revenue and total group adjusted profit of £3.51bn. This will [...]
Crowdfunding to come under the microscope in joint study from the Financial Conduct Authority and Cambridge University’s centre for alternative finance September 29, 2016 The Financial Conduct Authority (FCA) and researchers from the University of Cambridge will join forces in a new research project to investigate crowdfunding and peer-to-peer lending. Researchers from the Cambridge centre for alternative finance (CCAF), part of the Judge Business School, and the FCA will work with both investors and fundraisers who use non-traditional equity platforms. The joint [...]
English winemaker Chapel Down uncorks growth in its beer and cider business as profits lift across the board September 29, 2016 English winemaker Chapel Down will be toasting its Curious Drinks beer and cider business today as growth in its brewing arm helped lift results across the board in the first half. The figures Turnover at Chapel Down rose by 26 per cent to £4.1m in the six months to 30 June, while gross profit grew by 28 per [...]
Merger of German luxury superyacht giants Blohm+Voss and Luerssen Group steams ahead September 28, 2016 Two of the world’s largest superyacht makers are set to merge after private equity group Star Capital agreed to sell German shipbuilder Blohm+Voss to fellow German boat specialist Luerssen Group. Star Capital bought the group of four Blohm+Voss businesses in 2011 from German steel major ThyssenKrupp and quickly offloaded two businesses, a marine components maker and [...]
Over-55s are prepared to spend £5k on their off-season holidays – but travel firms’ are failing to market to them properly September 28, 2016 Over-55s are prepared to be spend big on their holidays, even out of season, but travel brands are failing to attract this lucrative category of increasingly tech-savvy silver travellers. More than half (56 per cent) of over-55s choose to travel out of season in May, June and September, according to research from MailJet, and one in [...]
Cheers: SABMiller shareholders vote in favour of AB InBev’s £79bn Megabrew takeover September 28, 2016 SABMiller investors have given the green light to Anheuser-Busch InBev’s £79bn Megabrew merger. Minority shareholders for the FTSE 100 drinks giant voted overwhelmingly in favour of the deal, one of the largest in corporate history, with more than 95.5 per cent of votes cast in support. All shareholder hurdles for the mega-merger have now been passed, [...]
Company secretaries say the Pensions Regulator should have more power to block takeovers to protect retirement funds September 28, 2016 Almost two-thirds of company secretaries believe the Pensions Regulator should be given stronger powers to block takeovers in order to safeguard pensions. According to a poll released today by the Institute of Chartered Secretaries and Administrators (ICSA) and The Core Partnership, 64 per cent of company secretaries were in favour of boosting the Pensions Regulator’s [...]
City Hall is making plans for a bespoke London visa system post-Brexit, Sadiq Khan has said September 27, 2016 London Mayor Sadiq Khan has said City Hall is putting together proposals for a separate system of work permits for the capital. A group of business representatives is working on a model that will ensure London “can carry on recruiting and attracting talent”, Khan told Sky News today. He added that he has already held [...]
