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☆ Sanction hit tars BAT’s US listing hopes
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 26 (Reuters Breakingviews) - British American Tobacco (BATS.L) could have trouble getting more American love. The $635 million settlement plus interest may be less of a financial spoil for the $82 billion giant. Still, investors including Rajiv Jain’s GQG Partners, had hoped BAT could move its listing to the United States to close a yawning valuation gap. The reputational stain from its fine, however, raises the risk that if it were to move stateside, U.S. investors may still apply a discount. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Tobacco Company BAT Pleads Guilty to Violating U.S. Sanctions on North Korea
▼ + stars: | 2023-04-25 | by ( Sadie Gurman | Aruna Viswanatha | ) www.wsj.com time to read: +1 min

British American Tobacco PLC said it had abandoned its North Korean business, but continued selling tobacco to the regime using a front company, officials said. Photo: Igor Golovniov/SOPA Images/LightRocket/Getty ImagesWASHINGTON—A U.K. tobacco company agreed to pay more than $635 million to resolve charges that it conspired to violate U.S. sanctions by selling cigarettes to North Korea in what Justice Department officials described as a brazen scheme to conceal illicit business by routing it through a third-party company in Singapore. The settlement payment was the largest penalty ever levied on a company for violating U.S. sanctions on Pyongyang. The company, British American Tobacco PLC, entered into a deferred prosecution agreement with federal prosecutors over illegal sales that took place over more than a decade, even after the company announced that it had abandoned its North Korean business, U.S. officials said. But BAT, which makes Lucky Strike, Dunhill and Pall Mall cigarettes, continued selling tobacco products to the isolated regime through a Singaporean front company.

☆ Tobacco companies pay over $600 million to settle alleged sanctions violations with North Korea
▼ + stars: | 2023-04-25 | by ( Hannah Rabinowitz | ) edition.cnn.com time to read: +3 min

CNN —Two tobacco companies have agreed to pay over $600 million to US authorities over allegations that the companies were selling tobacco products to North Korea in violation of US sanctions. Separately, the Justice Department charged a North Korean banker and two Chinese nationals with helping to facilitate tobacco sales in North Korea, according to court documents. BATMS and the North Korean Tobacco Company — owned by the North Korean Government — created a joint enterprise in 2001 to manufacture BAT cigarettes within North Korea for domestic sale, according to the Justice Department. That arrangement continued past 2009, when the US Treasury Department placed additional sanctions on North Korean banks. According to court documents, North Korea would use Chinese companies to process payments between the country and a front company of BATMS to obfuscate the payments.

☆ Here are Monday's biggest analyst calls: Apple ,Tesla, First Republic, Roku, Sunrun, JPMorgan Chase & more
▼ + stars: | 2023-03-13 | by ( Michael Bloom | ) www.cnbc.com time to read: +19 min

Baird upgrades Truist to outperform from neutral Baird said it sees an attractive risk/reward for the regional bank. "Regional bank risk/reward trade-off improving, and we would get more aggressive on the regional bank side, upgrading TFC to Outperform." Bank of America reiterates Alphabet as buy Bank of America said it's bullish on Alphabet's entry into AI. Bank of America reiterates Roku as buy Bank of America said it's standing by the stock in the wake of the Silicon Valley Bank collapse. "Regional bank risk/reward trade-off improving, and we would get more aggressive on the regional bank side, upgrading TFC to Outperform."

☆ FTSE 100 hits two-month low as banks stretch losses in SVB aftermath
▼ + stars: | 2023-03-13 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

SummarySummary Companies HSBC falls after taking over SVB's UK armBritish American Tobacco down after JPM downgradeBank sector index hits over two-month lowFTSE 100 down 2.4%, FTSE 250 off 2.9%March 13 (Reuters) - UK's FTSE 100 fell on Monday, with banks extending losses as shock waves continue to reverberate through financial markets after U.S. regulators closed Silicon Valley Bank (SVB). The blue-chip FTSE 100 (.FTSE) lost 2.4%, falling to an over two month low. UK banks (.FTNMX301010) slid 4.3%, hitting an over two-month low and extending last week's declines of over 6%. The focus is now shifting to UK's spring budget due to be unveiled later in the day. Reporting by Shashwat Chauhan in Bengaluru; Editing by Sherry Jacob-Phillips and Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

Feb 27 - The U.S. Supreme Court on Monday declined to hear a challenge to Los Angeles County's ban on sales of flavored tobacco products brought by R.J. Reynolds Tobacco Company, which had argued that only the federal government - not state or local governments - has the legal authority to regulate tobacco products. The Supreme Court in December allowed a California statewide ban on flavored tobacco products, also challenged by R.J. Reynolds, to go into effect. California became the second state to ban all flavored tobacco product sales, after Massachusetts in 2019. Flavored tobacco products, especially e-cigarettes, have come under scrutiny in recent years as critics have said they appeal to youth. Circuit Court of Appeals last year upheld the Los Angeles ban on a 2-1 vote.

☆ Buy these 16 dividend stocks to collect consistent cash payments while inflation stays high, according to a fund manager who outperformed 95% of his peers last year
▼ + stars: | 2023-02-20 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

"Just simply by focusing on quality companies with strong free cash flows is going to get you through any economic cycle. When looking for dividend stocks, the fund manager said it's crucial to consider a company's cash flow to ensure that it will be able to provide consistently high cash payments each quarter. "We do think it's prudent for investors to focus on — whether it's sectors as a whole or companies — strong, resilient cash flows," Morey said. "Because in an environment that we're in right now, cash is king, and cash flows are the life of companies. And without cash flows, you're tapping into other sources for capital, which is now at a much higher rate."

☆ BofA says these global stocks can weather a choppy market — and are 'inexpensive'
▼ + stars: | 2023-02-15 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

As sentiment turns a little bearish, BofA screened for cheaper global stocks that proved resilient during the financial crisis of 2008. Europe has been one of the brightest spots in the global stock market this year, with Wall Street calling the region a better bet than the U.S. right now . BofA screen BofA screened for European stocks that met the following criteria: Inexpensive compared with the past 15 years' average 12-month forward price to earnings ratio. According to FactSet, analysts covering the stock gave it average potential upside of around 23%, and 62% rated it a buy. According to FactSet, analysts covering the stock gave it average potential upside of around 26%, and 78% rated it a buy.

☆ The Battle for America’s Smokers Is Heating Up
▼ + stars: | 2023-02-09 | by ( Carol Ryan | ) www.wsj.com time to read: 1 min

So far, tobacco firms have managed to balance spending billions of dollars on new, smoke-free products with milking their old-school cigarette brands for profits. The American market may be approaching a tipping point that makes this trickier. U.S. cigarette sales were unusually weak in 2022. On Thursday, Lucky Strike’s owner, British American Tobacco , said it sold 15.5% fewer cigarettes in the U.S. than in 2021. Altria , which makes Marlboro, said its full-year cigarette volumes fell 9.5% in results last week.

[1/3] Lucky Strike cigarettes are seen during the manufacturing process in the British American Tobacco Cigarette Factory (BAT) in Bayreuth, Germany, April 30, 2014. The company also did not announce a new share buyback programme, as widely anticipated by analysts. BAT (BATS.L) had in February last year announced a buyback worth up to 2 billion pounds ($2.4 billion). The group forecast on Thursday its 2023 revenue would rise 3-5% in constant currency terms, adding growth would be affected by the sale of its businesses in Russia and Belarus. The company's distributor in Russia, SNS Group of Companies, said in March last year BAT was in talks to transfer its Russian business to SNS.

☆ Earnings, M&A chatter lift FTSE 100 to record high, Entain tumbles
▼ + stars: | 2023-02-09 | by ( Sruthi Shankar | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 (.FTSE) rose 0.7% to touch a record high of 7,943.68, while the midcap FTSE 250 index (.FTMC) inched up 0.1%. AstraZeneca (AZN.L) jumped 4.3%, set for its best day in nearly a year, after the drugmaker forecast earnings growth in 2023. Unilever (ULVR.L) rose 0.4% after the consumer goods giant reported quarterly underlying sales growth above expectations. Watches of Switzerland Group (WoS) (WOSG.L) slumped 13.1% after it gave its quarterly trading update. (This story has been corrected to say Watches of Switzerland Group gave quarterly trading update, not full-year in the third bullet and last paragraph.)

☆ Jim Nelson ran the 2 best international stock funds in the world in 2022, according to Kiplinger. He told us how he's positioned them for success, and why investors should go global now.
▼ + stars: | 2023-02-02 | by ( Marley Jay | ) www.businessinsider.com time to read: +4 min

Jim Nelson managed the two best global stock funds of 2022, according to Kiplinger. Nelson detailed his overall approach, and why he thinks international value stocks will thrive. In 2022, Kiplinger named Nelson's EuroPac International Dividend Income Fund as the highest-returning international large-cap value stock fund of the year, and his EuroPac International Value Fund ranked second. About half of the Value Fund's assets are dedicated to either defensive consumer-facing companies or basic materials makers. While international stocks have lagged US-based stocks for a long time, he says indicators are favoring non-US stocks today.

☆ FTSE 100 falls as consumer, commodity stocks drag on China COVID worries
▼ + stars: | 2022-12-29 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

SummarySummary Companies FTSE 100 eyes worst day in two weeksFalling crude drags oil giants lowerFTSE 100 down 0.4%, FTSE 250 off 0.3%Dec 29 (Reuters) - UK's FTSE 100 fell on Thursday, with energy and consumer stocks leading declines, as optimism over China's reopening fizzled out in the face of surging COVID-19 cases in the world's second largest economy. The blue-chip index (.FTSE), down 0.4%, will post its biggest single day drop in two weeks if losses hold. Commodity prices broadly fell as surging COVID cases in China dimmed hopes of a recovery in fuel demand for the world's largest crude oil importer even as it began dismantling strict COVID curbs. Oil majors BP (BP.L) and Shell (SHEL.L) lost 1.2% and 0.8%, respectively, on Thursday as crude prices fell more than 2%. Consumer stocks such Unilever (ULVR.L) and British American Tobacco (BATS.L) weighed on the FTSE 100, slipping nearly 1%.

☆ British American Tobacco closes Swiss plant, lays off 226
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: 1 min

ZURICH, Dec 15 (Reuters) - British American Tobacco (BAT) is to close a cigarette manufacturing plant in Switzerland next year, laying off 226 workers, the Tages-Anzeiger paper and other Swiss media reported on Thursday. “BAT Switzerland confirms that a final decision has been made to transfer cigarette production from Boncourt to larger factories within Europe and to close the Boncourt site," BAT said in a statement. The winding down of the factory located in Switzerland's french-speaking region will be completed by the end of 2023, the company said. Reporting by Noele Illien Editing by Michael Shields and David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ British American Tobacco closes Swiss plant, lays off 226 -paper
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: 1 min

ZURICH, Dec 15 (Reuters) - British American Tobacco is to close a cigarette manufacturing plant in Switzerland next year, laying off the 226 employees working there, the Tages-Anzeiger paper and other Swiss media reported on Thursday. The Unia labour union confirmed the plant closure. The BAT plant was not immediately available to comment. Reporting by Noele Illien; Editing by Michael ShieldsOur Standards: The Thomson Reuters Trust Principles.

☆ Supreme Court upholds California ban on flavored tobacco
▼ + stars: | 2022-12-12 | by ( Stefan Sykes | ) www.cnbc.com time to read: +2 min

The Supreme Court on Monday rejected a bid from the tobacco industry to block a California ban on flavored tobacco products. The ban, or Proposition 31, was overwhelmingly approved by voters in November and will prohibit the sale of most flavored tobacco products, including menthol cigarettes. R.J. Reynolds, which sells Newport menthol cigarettes, argued the ban contradicts the Tobacco Control Act of 2009, a federal law that prohibits states from blocking the sale of tobacco products. Some California cities, including Los Angeles and San Diego, have already enacted such bans on flavored tobacco products and menthol cigarettes. Once the statewide law takes effect, California will become the second state in the nation, after Massachusetts, to enact a statewide ban.

☆ Bargain-Hunting Smokers Give Big Tobacco a Headache
▼ + stars: | 2022-12-08 | by ( Carol Ryan | ) www.wsj.com time to read: 1 min

British American Tobacco said that more U.S. smokers are switching to cut-price cigarettes. Americans are searching for deals beyond the usual grocery-store aisles. Major tobacco companies face a trade-off between protecting their profits and losing smokers to the cheapest brands. British American Tobacco said that more U.S. smokers are switching to cut-price cigarettes when it updated investors on current trading Thursday. Marlboro’s manufacturer Altria pointed out the same trend when it recently reported third-quarter results.

☆ BAT expects full-year sales growth of 2-4% on e-cigarette, oral nicotine push
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +1 min

LONDON, Dec 8 (Reuters) - British American Tobacco (BATS.L) said on Thursday it expects full-year revenue growth of between 2% and 4% at constant currency rates, as more people are using its e-cigarettes and oral nicotine products. BAT forecast mid-single digit adjusted diluted earnings per share growth on a constant currency basis for the year ending Dec. 31. The Lucky Strike cigarette maker also expects "strong adjusted operating margin improvement despite increasing inflation in our supply chain." The company added that sales of its combustible cigarette brands were flat in the third quarter but did not provide a full-year sales forecast for that business. Reporting by Richa Naidu; Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.

☆ UK's FTSE 100 falls; BAT, Frasers flag challenging outlook
▼ + stars: | 2022-12-08 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

SummarySummary Companies FTSE 100 down 0.1%, FTSE 250 falls 0.2%Frasers drop to bottom of FTSEDS Smith rises on resilient demandDec 8 (Reuters) - UK's FTSE 100 was dragged lower by consumer staples and retailers on Thursday after forecasts from British American Tobacco and Frasers fuelled concerns over economic outlook. The blue-chip FTSE 100 (.FTSE) dipped 0.1% while the FTSE 250 was down 0.2%, as of 0949 GMT. Frasers Group (FRAS.L) was the biggest drag on retailers index (.FTNMX404010), which shed 0.9%, after the sportswear and clothing firm warned of a challenging and uncertain outlook despite posting an upbeat half-yearly profit. UK markets are bracing for a long uncertain winter amid rising borrowing costs and double-digit inflation that have sparked worker unrest in the recent past. Reporting by Johann M Cherian in Bengaluru; Editing by Saumyadeb Chakrabarty and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ FTSE 100 flat as housing, retail stocks weigh
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100 flat, FTSE 250 off 0.5%Nov 25 (Reuters) - The FTSE 100 was flat on Friday, with gains in defensive healthcare and consumer stocks offsetting weakness in retail stocks as Black Friday sales began against a backdrop of a worsening cost-of-living crisis. The blue-chip FTSE 100 (.FTSE) was flat by 0851 GMT, but set to end with sharp weekly gains on hopes of smaller rate hikes from the U.S. Federal Reserve. Diageo (DGE.L), British American Tobacco (BATS.L) and GSK (GSK.L) supported the FTSE 100, as investors snapped up defensive stocks that tend to perform well in a slowing economy. Retail stocks (.FTNMX404010) dropped 0.4% on Black Friday, which typically marks the beginning of the holiday shopping season. The domestically focused FTSE 250 midcaps (.FTMC) slid 0.5%.

HAVANA, Nov 15 (Reuters) - Cuba on Tuesday said it had signed 30 foreign investment deals valued at around $400 million this year, more than in 2021 but far short of pre-pandemic levels of at times around $2 billion. Cuba is struggling through its worst economic crisis in decades, and desperately needs foreign investment to help underwrite the purchase of food, medicine, fuel and raw materials needed to jumpstart sputtering output. “We have to banish all that unnecessary bureaucracy and generate new opportunities that are attractive to foreign businessmen,” Marrero said at an investment forum in the capital. Some at the trade fair told Reuters they were willing to bet on Cuba despite the downturn. "Definitely we are not afraid as investors in Cuba, we are already making arrangements and making alliances with a well-established (private) company,” he said.

☆ FTSE 100 steady, midcaps fall ahead of key Fed meeting
▼ + stars: | 2022-11-02 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

UK pharmaceuticals stocks (.FTNMX201030) rose 1.2% after GSK (GSK.L) said it expects sales to rise between 8% and 10%, sending its shares up 1.2%. The blue-chip FTSE 100 (.FTSE) was flat, while the mid-cap FTSE 250 (.FTMC) fell 0.4% by 0934 GMT, dragged down by budget airline Wizz Air (WIZZ.L) after it said uncertainty for consumers rose. Third-quarter earnings among companies on the FTSE 100 have so far painted a mixed picture, as some firms performed better than expected as COVID restrictions eased globally, while some battled supply chain snags and surging inflation. British American Tobacco Plc fell 3%, to the bottom of FTSE 100, after Goldman Sachs downgraded its performance rating for the stock to "neutral". Reporting by Johann M Cherian in Bengaluru; Editing by Dhanya Ann Thoppil and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ London stocks slide as fiscal policy concerns weigh; Next drops
▼ + stars: | 2022-09-29 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 (.FTSE) was down 1.8%, while the more domestically-oriented FTSE 250 (.FTMC) shed 2.1%, by 0823 GMT. Shares of Next (NXT.L) slid 8.7% after it cut profit and sales forecasts, saying August trading was below expectations and cost of living pressures were set to rise in the coming months. It's indicative that the tighter monetary policy gets the far more damage it will do to UK consumers, UK spending and the UK economy." The FTSE 100 has lost 6.6% so far this year. Among other stocks, British American Tobacco (BATS.L) fell 3.1% in ex-dividend trading, while Synthomer (SYNTS.L) tanked 32.6% after it lowered its annual profit outlook.

☆ FTSE 100 gains as weak pound lifts export-heavy consumer staples
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterThe London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/SummarySummary Companies FTSE 100 up 0.5%, FTSE 250 off 0.7%Sept 26 (Reuters) - London's FTSE 100 index rose on Monday, led by shares of dollar-earning consumer staple companies after sterling tumbled to record low on worries the new government's economic plan will stretch Britain's finances to the limit. The export-oriented FTSE 100 (.FTSE) gained 0.5%, while the more domestically oriented FTSE 250 (.FTMC) declined 0.7%. Consumer staples like Unilever (ULVR.L) and British American Tobacco (BATS.L) added 3.5% and 1.1%, respectively. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Johann M Cherian in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ Energy, consumer staples lift London's FTSE 100 in big week for central banks
▼ + stars: | 2022-09-20 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +3 min

Register now for FREE unlimited access to Reuters.com RegisterThe London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. The commodity-heavy FTSE 100 (.FTSE) advanced 0.2% at 0809 GMT after a holiday to mark Queen Elizabeth's funeral, supported by a more than 1% jump in oil majors BP (BP.L) and Shell (SHEL.L). Consumer staples stocks such as Diageo (DGE.L) and British American Tobacco (BATS.L) rose about 1.5% each on the internationally focussed FTSE 100. "The move today on the FTSE 100 shows just how sensitive the index is to the economy in China," said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown. Register now for FREE unlimited access to Reuters.com RegisterReporting by Bansari Mayur Kamdar in Bengaluru; Editing by Savio D'Souza and Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

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