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Pin to quick picksBritish American Tobacco Share News (BATS)

Share Price Information for British American Tobacco (BATS)

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Share Price: 2,476.00
Bid: 2,475.00
Ask: 2,476.00
Change: -10.00 (-0.40%)
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Open: 2,487.00
High: 2,496.00
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UK smoking ban for younger generations passes first parliamentary hurdle

Tue, 16th Apr 2024 19:29

LONDON, April 16 (Reuters) - British Prime Minister Rishi Sunak's plan to ban anyone aged 15 and under from ever buying cigarettes passed its first parliamentary vote on Tuesday, although dozens of his own lawmakers voted against it.

Sunak's plan to impose some of the world's strictest anti-smoking rules has angered some members of his governing Conservative Party, including former prime ministers Liz Truss and Boris Johnson, who say the state should not interfere in how people live their lives.

The bill passed a vote in Britain's parliament with 383 in favour and 67 against, meaning it will progress to the next stage in parliament, where it can be subject to amendment.

Lawmakers were given a so-called free vote on the bill, meaning they did not have to vote along party lines. A similar law in New Zealand was scrapped this year by the new coalition government before the legislation went into force.

But 57 Conservatives, including Business and Trade Secretary Kemi Badenoch, voted against the plan, and the scale of the rebellion was another blow for Sunak, who has already faced criticism in his party over issues ranging from climate change to defence policy.

The legislation is one of Sunak's flagship policies before an election later this year which opinion polls suggest the opposition Labour Party will win.

The Tobacco and Vapes Bill aims to prevent children born since 2009 from ever being able to legally buy tobacco, rather than criminalising the habit.

Sunak has said it will tackle "the single biggest entirely preventable cause of ill-health, disability and death".

PUBLIC SUPPORT

About 6.4 million people were smokers in the UK in 2022, the Office for National Statistics has estimated, around 13% of the adult population.

That is much lower than other European countries such as Italy, Germany and France, where between 18%-23% of adults smoke, according to OECD figures.

There is strong support for the ban from medical and healthcare experts and charities, who say smoking causes 80,000 deaths every year plus many more smoking-related illnesses.

Polling by YouGov also suggests a smoking ban is popular, with a third of voters supporting the phased approach, 30% supporting a ban for everyone at the same time and only a quarter saying there shouldn't be any ban.

The plans have hit the share price of companies like L&B cigarette maker Imperial Brands, which has highlighted the UK as one of its key markets.

It and other tobacco companies like Dunhill maker British American Tobacco have criticised the proposed ban, saying it could fuel black market trade and will be difficult to enforce.

Business minister Badenoch said she was not a smoker and agreed with Sunak's intentions, but said she opposed the bill as she was concerned about its impact on people's rights and difficulty in enforcing the policy.

"We should not treat legally competent adults differently in this way, where people born a day apart will have permanently different rights," she said on social media platform X. (Reporting by Sarah Young; additional reporting by Emma Rumney, Paul Sandle and Alistair Smout, Editing by Kate Holton, Timothy Heritage, Gareth Jones and Jonathan Oatis)

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16 Feb 2024 12:04

IN BRIEF: British American Tobacco prices USD1.70 billion bond offer

British American Tobacco PLC - London-based maker of cigarettes and vapes - Prices an offering of USD1.70 billion guaranteed bonds. These issues consist of USD850.0 million 5.834% notes due 2031, and USD850.0 million 6.000% notes due 2034. Says its subsidiary BAT Capital Corp is issuing these notes. Says notes will be fully and unconditionally guaranteed by the group. The issuance of the notes is expected to close on Tuesday next week, subject to customary closing conditions. BAT intends to use the net proceeds of the offering of the notes for general corporate purposes, including the potential repayment of existing indebtedness.

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14 Feb 2024 09:17

Italian watchdog fines BAT and Amazon combined €7m

(Sharecast News) - British American Tobacco and Amazon have been fined a total of €7m by Italy's competition watchdog over "misleading" advertising.

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12 Feb 2024 09:41

LONDON BROKER RATINGS: Deutsche Bank starts Deliveroo at 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

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8 Feb 2024 17:00

LONDON MARKET CLOSE: Softer earnings weigh on underperforming FTSE 100

(Alliance News) - London's FTSE 100 ended lower on Thursday, with mixed corporate updates keeping a lid on enthusiasm, while in New York the S&P 500 has the 5,000 point mark in touching distance.

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8 Feb 2024 14:42

London close: Stocks slip as US jobless claims fall

(Sharecast News) - London markets experienced a downturn in trading on Thursday, with stocks relinquishing earlier gains as investors processed a decrease in jobless claims in the United States.

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8 Feb 2024 12:08

LONDON MARKET MIDDAY: DS Smith surges on takeover approach from Mondi

(Alliance News) - Stock prices in London were mixed at midday Thursday, as markets struggled to find direction amid a mixed wave of corporate updates and earnings.

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8 Feb 2024 09:02

TOP NEWS: British American Tobacco shares up despite swing to loss

(Alliance News) - British American Tobacco PLC on Thursday said it was committed to dividend growth as it reported a swing to a loss amid a decline in revenue.

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8 Feb 2024 08:59

LONDON MARKET OPEN: Unilever up on buyback; BAT ups dividend

(Alliance News) - THE FTSE 100 in London opened slightly higher on Thursday, with earnings from British American Tobacco and Unilever boosting the index.

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8 Feb 2024 08:01

British American Tobacco swings to loss on US writedown

(Sharecast News) - British American Tobacco said on Thursday that it swung to a full-year loss mainly due to an impairment charge related to its US business.

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8 Feb 2024 07:50

LONDON BRIEFING: Unilever sets new buyback; Astra profit surges

(Alliance News) - Stocks in London are called to open slightly higher on Thursday, as investors eye a busy day of earnings.

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6 Feb 2024 08:21

IN BRIEF: British American Tobacco makes Holly Koeppel senior director

British American Tobacco PLC - London-based maker of cigarettes and vapes - Promotes Holly Keller Koeppel to senior independent director, replacing Sue Farr, who will leave the board at the annual general meeting on April 24. Farr and Dimitri Panayotopoulos will step down as directors, having served for nine years. Koeppel has been a BAT non-executive director since July 2017, joining as part of BAT's acquisition of all of tobacco peer Reynolds American Inc. She had worked at Citi Infrastucture Investors.

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2 Feb 2024 16:59

London close: Stocks mixed as US payrolls come in red-hot

(Sharecast News) - London's stock markets closed with mixed results on Friday, as investors were confronted by an unexpectedly strong US labour market as revealed in the latest US non-farm payrolls report.

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2 Feb 2024 13:41

BAT, Philip Morris settle patent infringement litigations over heated tobacco, vapour products

(Sharecast News) - British American Tobacco said on Friday that it has reached a global settlement with Philip Morris International to resolve all ongoing patent infringement litigations between the two related to its heated tobacco and vapour products.

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2 Feb 2024 12:47

TOP NEWS: Philip Morris and British American Tobacco halt patent fight

(Alliance News) - Philip Morris International Inc and British American Tobacco PLC on Friday said that they had reached a global settlement following months of litigation over non-smoke tobacco products.

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1 Feb 2024 15:52

UK earnings, trading statements calendar - next 7 days

Friday 2 February 
YouGov PLCTrading Statement
Monday 5 February 
Home REIT PLCTrading Statement
Porvair PLCFull Year Results
Trident Royalties PLCTrading Statement
Vodafone Group PLCTrading Statement
Tuesday 6 February 
Alumasc Group PLCHalf Year Results
BP PLCFull Year Results
Filtronic PLCHalf Year Results
Mattioli Woods PLCHalf Year Results
Renishaw PLCHalf Year Results
Virgin Money UK PLCTrading Statement
Wednesday 7 February 
Ashmore Group PLCHalf Year Results
Barratt Developments PLCHalf Year Results
HydrogenOne Capital Growth PLCTrading Statement
Phoenix Spree Deutschland LtdTrading Statement
PZ Cussons PLCHalf Year Results
Smurfit Kappa Group PLCFull Year Results
UK Commercial Property REIT LtdTrading Statement
Thursday 8 February 
Anglo American PLCTrading Statement
AstraZeneca PLCFull Year Results
British American Tobacco PLCFull Year Results
Compass Group PLCTrading Statement
Redrow PLCHalf Year Results
SSE PLCTrading Statement
Unilever PLCFull Year Results
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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