Even if there is a Brexit deal, a UK interest rate cut seems likely | Nils Pratley

The Bank rate is already low and Brexit overshadows everything, but look elsewhere too – the global economy is not in good healthCall it a full house of poor economic news. The services sector is contracting, according to the purchasing managers’ index…

Read more

Tobacco firms not paying fair share of UK corporation tax – report

Four largest companies dispute claim that they consistently pay less than headline rateGlobal tobacco companies should be paying more UK corporation tax, according to a report that claims they are not contributing their fair share despite making massiv…

Read more

UK accused of hypocrisy on overseas tobacco control

Embassy relationships with companies such as BAT undermine anti-smoking policiesThe UK government is lobbying on behalf of UK-based tobacco giants operating overseas, despite spending millions of pounds trying to curb smoking rates abroad.Freedom of in…

Read more

Imperial Brands in talks to rescue wholesaler Palmer & Harvey

Tobacco firm working on deal to ease debt crisis at UK’s biggest cigarette distributor, which supplies Tesco and other retailers

The tobacco firm Imperial Brands is working on a rescue deal for the wholesaler Palmer & Harvey, which supplies tobacco to Tesco and other retailers.

Palmer & Harvey is the biggest cigarette supplier in the UK and employs 4,000 people.

Continue reading…

Read more

Does the Imperial revolt herald a new health warning for executive greed?

Shareholders were right to rebel against tobacco firm’s boardroom plan – but few pay rises will be as shameless as that planned for CEO Alison Cooper

Alison Cooper, chief executive of Imperial Brands, will presumably now quit her employer of 17 years, to be followed out of the fags factory by an unhappy crew of fellow executives who have lost the chance to earn (even) bigger pay packages.

That, or something like that, was the prospect raised by Imperial’s chairman, Mark Williamson. The tobacco firm’s shareholders have revolted by indicating they would vote down a proposed new pay policy next week, so Imperial has pulled the scheme to avoid a formal drubbing.

Continue reading…

Read more

Tobacco giant Imperial Brands rethinks CEO’s pay rise after revolt

Move by tobacco firm behind Gauloises and John Player cigarettes may affect other FTSE 100 firms increasing bosses’ bonuses

Shareholders appear to have blocked a pay rise for Alison Cooper, chief executive of Imperial Brands, in a move that may affect other FTSE 100 companies aiming to hike the bonuses of their bosses.

The maker of Gauloises and John Player cigarettes issued an unexpected announcement to the stock exchange on Thursday to say it would not put its new pay policy to a vote as originally planned at the annual meeting on 1 February.

Continue reading…

Read more