LONDON/NEW YORK (Reuters) – As electronic cigarettes flew off shelves on both sides of the Atlantic in recent years, investors flocked to a business some hope will be the future for tobacco.
Now sales growth is slowing from a 2011 peak and private funds are more cautious about the smokeless devices, making it harder for independent e-cigarette firms to raise capital and hitting their share prices.
LONDON/NEW YORK, Sept 12 (Reuters) – As electronic
cigarettes flew off shelves on both sides of the Atlantic in
recent years, investors flocked to a business some hope will be
the future for tobacco.
Now sales growth is slowing from a 2011 peak and private
funds are more cautious about the smokeless devices, making it
harder for independent e-cigarette firms to raise capital and
hitting their share prices.
By Anjali Athavaley and Martinne Geller
(Reuters) – The leading vodka brands in the United States are losing their buzz as craft distillers and other alcoholic drinks infringe on their turf.
Both Diageo Plc (DGE.L: Quote, Profile, Research, Stock Buzz), which markets Smirnoff, and Pernod Ricard SA (PERP.PA: Quote, Profile, Research, Stock Buzz), known for its Absolut brand, say newcomers to the vodka market are cutting into their sales. The companies have been losing share over the last five years to smaller brands such as Fifth Generation Inc’s Tito’s Handmade Vodka.
LONDON/HELSINKI/COPENHAGEN (Reuters) – Team Niinivirta, a Finnish family-run transportation firm, turned 60 this year, but its third-generation managers now don’t know if the business will see Christmas, because of Russia’s new ban on European food imports.
The firm based in Kotka, on the Gulf of Finland opposite Saint Petersburg, was using its 12 refrigerated trucks to ship 80 loads a month of Finnish milk products to Russia.
LONDON/MOSCOW, Aug 17 (Reuters) – People from Britain who go
to Cyprus in August are usually after sun, sea and sand but one
Lincolnshire man, a trader in fruit and vegetables, is heading
there this week for the potatoes.
Since Russia barred imports of food from most of the rest of
Europe, businesses are jostling for new buyers and sellers.
MOSCOW/LONDON, Aug 7 (Reuters) – Western multinationals like
Nestle, Unilever and McDonalds will
feel only a limited effect from Russia’s ban on certain food
imports from Europe and the United States, since they largely
In retaliation for sanctions related to the crisis in
Ukraine, Prime Minister Dmitry Medvedev said on Thursday Russia
would ban fruit, vegetable, meat, fish, milk and dairy imports
from the United States, the European Union, Australia, Canada
and Norway for one year starting immediately.
LONDON, Aug 6 (Reuters) – Jan du Plessis is set to become
chairman of two big global companies at the same time when he
takes over the role at brewer SABMiller Plc next year in
addition to his current position at Rio Tinto.
Du Plessis, 60, will join the brewer’s board on Sept. 1 and
then succeed John Manser as chairman following its annual
shareholder meeting in July 2015, SABMiller said on Wednesday.
LONDON, July 31 (Reuters) – Diageo, the world’s
largest spirits maker by sales, posted weaker-than-expected
earnings on Thursday, hurt by a slowdown in China and volatility
in other emerging markets.
Over the past year, the maker of Johnnie Walker Scotch
whisky, Smirnoff vodka and Guinness stout has grappled with a
host of issues in emerging markets – including currency
devaluations, a tax increase on a beer in Kenya and a steep fall
in sales of Chinese baiju spirit due to government-enforced
LONDON, July 30 (Reuters) – British American Tobacco
reported lower revenue and profit for the six months
ended June 30, hurt by the strong British pound and a slight
decline in volume.
Excluding the impact of foreign exchange rates, the world’s
No. 2 tobacco company by sales cited improved market share for
its Rothmans, Pall Mall and Dunhill brands and strong
performance in places including Indonesia and Mexico.
LONDON, July 29 (Reuters) – Weak consumer spending and
intense competition among retailers are forcing some makers of
packaged goods to lower their prices, intensifying the threat of
euro zone deflation.
Annual inflation is running at just 0.5 percent in the
currency area, well into what the European Central Bank has
described as a “danger zone” below 1 percent, and could fall
further when figures for July are released later this week.