6:40 am, April 26, 2023
British American Tobacco to pay out £512m to US authorities over North Korea
British American Tobacco will pay $635m (£512m) to US authorities after a subsidiary entered a guilty plea over historic sanctions violations linked to North Korea.
The Dunhill and Lucky Strike maker said it had agreed a settlement with the Department of Justice and the Office of Foreign Assets Control.
The sanction breaches relate to its business activities in North Korea between 2007 and 2017. CEO Jack Bowles apologised and said it had now transformed its compliance and ethics programme.
UK troops to take over Sudan airfield as evacuation flights gather pace
The first evacuation flights carrying British nationals have taken off from Sudan as UK troops prepare to take over the running of the airfield.
Three planes were due to have left conflict-torn Khartoum for Cyprus by this morning, with Rishi Sunak pledging ‘many more’ would follow as he warned of a ‘critical’ 24 hours.
Defence secretary Ben Wallace said the UK would take charge of the Wadi Saeedna airstrip near the capital from German forces, after Berlin said its final evacuation flight would leave last night.
Joules consults over fresh job cuts after Next takeover
Joules has launched consultations over more potential job losses after new owner Next said it was accelerating transition plans.
Next snapped up the troubled fashion brand late last year after Joules fell into administration despite a £1m investment by the boss of dealer group Stoneacre.
The deal saw Next secure the future of 1,450 workers at Joules and 100 stores, although 19 stores were shut as part of the move.
UK should drop Gulf trade deal if rights concerns not addressed, say MPs
The UK should be willing to walk away from trade negotiations with Gulf states rather than accept an agreement that fails to address human rights and environmental concerns, MPs have said.
A report from the Commons international trade committee on negotiations with the Gulf Co-operation Council raised significant concerns about human rights abuses in the region and urged the government to use its leverage to improve conditions before signing an agreement.
The committee said: ‘We urge the UK government to be openly prepared to end the negotiations rather than accept an unsatisfactory agreement.’
McDonald’s first-quarter sales boosted by higher prices
McDonald’s has reported higher-than-expected sales in the first quarter as restaurant traffic grew despite higher prices.
Global same-store sales rose by 12.6 per cent compared with the January-March period last year, the burger giant said yesterday.
Revenue rose by four per cent to nearly $5.9bn (£4.8bn) in the first quarter.
Gambling White Paper set to be published this week
The gambling White Paper setting out government proposals to make regulation of the sector ‘fit for the digital age’ looks set to be published this week.
Campaigners hope it’ll include plans for affordability checks and the introduction of a statutory levy on gambling operators to pay for research, education and treatment of problem gambling met in the White Paper, which it is believed could be released tomorrow.
Other measures hoped to feature include a reduction in stakes for online slot games to match those found in land-based gambling and the creation of a gambling ombudsman to deal with customer complaints.
Use prisoners to help keep country’s motorways tidy, says ex-roads minister
Prisoners held in open jails should help clear litter dumped on England’s motorways, according to a Conservative former roads minister.
Sir Mike Penning said inmates and those subject to community payback orders should be supervised to litter-pick alongside major roads in the country.
He told MPs the government, in partnership with East Hampshire District Council, will shortly be ‘trialling the use of CCTV to capture evidence of people littering in lay-bys in the south-east’.
New Smart #1 hits the road priced from £35,950
The new Smart #1 will be priced from £35,950 when it arrives in the UK this summer.
The electric SUV – whose name is pronounced ‘hashtag one’ – incorporates a 66kWh battery that enables a range of up to 273 miles from a charge, while 150kW charging capability means a 10 to 80 per cent top-up can be achieved in less than half an hour.
Three specifications will be available initially – Pro+, Premium and Brabus – as well as a limited-run Launch Edition that celebrates the car’s arrival.
Yesterday’s headlines on Car Dealer you might have missed
- Used car prices fall 1% in April as electric car values continue to tumble
- Edwin May worker accused of stealing more than £450,000 from dealership
- Business booms for Brayleys with profits and turnover increases in 2022
- Bristol Street Motors to expand in Staffordshire as it takes over ex-Cazoo site
- TrustFord to open first dealership in Carlisle as it ploughs £500k into site refurb
- Car numbers on Britain’s roads return to pre-pandemic levels – with more than a million EVs now
- Service staff are key to selling customers their next car and increasing dealership profitability
Market movements
The FTSE 100 closed down 21.07 points yesterday to end on 7,891.13. The Cac 40 was down 42.25 points at 7,531.61, the Dax was up 8.18 points at 15,872.13 and the Dow Jones was down 344.57 points at 33,530.83.
Weather outlook
Today will be mostly cloudy for much of the UK, says BBC Weather, with a few bright spells in the east and sunny spells in northern Scotland.
It’ll stay dry for most but the north will experience a few showers, which will be wintry on the hills in Scotland.
Thursday will be generally cloudy, with rain and hill snow in Scotland. Spells of rain will spread in from the south-west in the south and will be heavy at times, but it’ll be mostly dry elsewhere.
