News Clips February 6: Imperial Brands, Organic Foods, Domino’s Pizza Group | New

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More than £ 1.2bn has been wiped out of the value of cigarette maker Lambert & Butler Imperial Brands as a ban on flavored vaping products by US regulators wreaks havoc (The daily mail). America’s crackdown on vaping is expected to affect Imperial Brands’ revenue and profits (The time £). Imperial Brands has warned profits will fall this year as the U.S. crackdown on vaping hits efforts to move away from traditional cigarettes (The Financial Times £).

U.S. lawmakers called for tougher rules for e-cigarette companies at a hearing Wednesday as they accused executives of introducing a new generation to nicotine. (BBC)

Imperial Oil tried to do it all. Venturing into vaping while maintaining an aggressive dividend policy has proven to be unsustainable. That meant dropping the 10-year target of 10% annual dividend growth last year, which annoyed investors. (The Financial Times £)

UK organic food and drink sales rose 4.5% last year to a record £ 2.45 billion, fueled by strong growth online and in home delivery , and surpassing a sluggish global food and beverage market. (The Guardian)

Domino’s Pizza Group will take up to £ 60million against the value of its ‘corporate’ stores and international operations, but has announced a ‘strong performance’ from its UK core business (The time £). Domino’s, the UK arm of the listed global pizza chain, blamed the poor condition of new stores and a competitive market in London on a £ 20million depreciation charge on its store base (The Financial Times £).

Shares of Domino’s Pizza surged after the group revealed that it saw higher sales in the last quarter of last year. (The daily mail)

Katie Bickerstaffe has been named senior director of strategy and transformation by Marks & Spencer as the struggling retailer seeks to revive its fortunes. (The time £)

Lack of retail experience atop the new John Lewis Partnership board risks putting the group at an additional “disadvantage” in the cutthroat world of department stores, said retail analyst leading. (The daily mail)

The Treasury is expected to raise corporate taxes to fund a £ 6bn trade rate cut for struggling shopping streets, according to a government-commissioned report prepared by industry figures. (Sky News)

The coronavirus outbreak has disrupted global markets, hitting stock and commodity prices as concerns grow over its impact on economic growth. A less obvious victim has been the humble coffee bean. China is a major player in the global coffee industry, with imports more than tripling over the past decade. (The Financial Times £)

Billionaire investor Bill Ackman sold his position in Starbucks almost two years after first announcing a $ 900 million stake in the coffeehouse chain, collecting a 73% return as the company’s operations in China were affected by the coronavirus. (The Financial Times £)

JAB Holdings has hired an Anheuser-Busch InBev executive to become CFO of its coffee division as it shakes JDE Peet’s leadership ahead of a € 3 billion IPO in Europe. (The Financial Times £)

Amazon promotes shoddy products with an “Amazon’s Choice” badge because cunning sellers manipulate the algorithmic recommendation system behind the label, according to research by consumer rights group Which ?. (The Guardian)


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