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Mugabe threatens British American Tobacco Company

Mugabe that is 88 years old was speaking at the indigenization conference about BAT handed more then 30% of its share to employees and locals to comply with indigenization laws, knowing that BAT was behind the Savanna Tobacco cigarettes in neighboring of Africa. I am impressed by the information we received over the week about the BAT cooperating with groups from South Africa that have been in action against Savanna and lots of other things that have been happening. “And these are briefings from the security over the week. I hope all will be well but in fact those are the things that have been happening in order to kill competition and you try to undo a competitor in that ugly way that’s not acceptable, some people will have to answer for … Read entire article »

Filed under: Tobacco companies

British American Tobacco moves up leaderboard

Shares of British American Tobacco is now boosted by the news that the company, along with the tobacco company RJ Reynolds, today asked the High Court of Ontario emit 40 billion dollar lawsuit, which was launched for the two companies of the provincial government, stating that the claim is false theory as its basis. From among the small caps Sever field-Rowen plunges 22% after saying two of his companies, missed its forecast. 1520: Footsie looked up from his daily wage, but still firmly in the red after a mixed start on Wall Street, as investors continue to tread water ahead of the U.S. presidential election tomorrow. In London, gold miner Centamin extended gains and continues to lead the risers on the FTSE 350, now at 27.1 percent. The company announced this … Read entire article »

Filed under: Tobacco news, Tobacco-general info

British American Tobacco bounces back on the USE

British American Tobacco Uganda (BATU) shares are up 18.8 per cent since July as investors bet that the tobacco manufacture will earn more from its exports because of a weak shilling and increased volumes. BATU began processing leaf for export to other parts of Africa in April, which might translate to higher turnover for the Uganda Securities Exchange listed firm. This is after BAT International decided to move its central leaf materials headquarters from South Africa to Uganda. British American Tobacco is the producer of famous Lucky Strike cigarettes. And because the exports are sold in dollars, when BATU converts those dollars to Ugandan shilling it stands to earn more since the local currency has lost ground to the greenback. The tobacco giant’s shares at the Uganda Securities Exchange (USE) have risen from about … Read entire article »

Filed under: Cigarette brands, Tobacco news

Mugabe’s Seized Farms Boost Profits at British American Tobacco

Robert Mugabe devastated Zimbabwe’s tobacco industry in 2000 by driving white farmers off their land and giving it to his allies. Now British American Tobacco Plc is profiting from tobacco grown on those properties. BAT, through its partner Northern Tobacco Ltd., is among processors that buy from farms taken by backers of the 87-year- old president. In addition to purchasing the leaf, the companies lend to finance crops, even as the ousted white farmers retain title deeds. First-half net income at BAT’s Zimbabwe unit rose more than tenfold to $2 million while revenue increased 88 percent, the company said on Aug. 29. Income generated from the farms may help extend Mugabe’s 31 years as president by shoring up support within his Zimbabwe African National Union-Patriotic Front party before elections next year, said … Read entire article »

Filed under: Tobacco news