One of Just Eat’s largest shareholders wants a more generous helping from the proposed tie-up between the British fast food app and its Dutch suitor. Aberdeen Standard Investments, with a 5%, said a £5bn all-paper offer from Takeaway.com “does not reflect the intrinsic value” of the London-based company. (The Times £)
British American Tobacco plans to significantly increase investment in its ecigarette products in an attempt to catch up with rivals and offset a decline in sales at core brands such as Lucky Strike and Dunhill (The Financial Times £). Rising sales of e-cigarettes partially offset the decline in traditional products at British American Tobacco (The Times £).
The government is planning to create up to 10 free ports across the UK after Brexit. They allow firms to import goods and then re-export them outside of normal tax and customs rules. (The BBC)
The UK manufacturing sector suffered its biggest fall in output in seven years last month as a global slowdown and concerns about Brexit stunted growth. (The Times £)
Burger King will begin selling the plant-based Impossible Whopper across the US next week after a successful run in six regions. The rollout to 7,000 locations will be for a limited time. (The Guardian)
More than $20bn was knocked off the value of US retail stocks on Thursday as President Donald Trump’s plans to slap a new round of tariffs on Chinese goods sparked concerns on Wall Street over how the industry would cope (The Financial Times £). Stock markets have fallen sharply after Donald Trump announced the US would impose a 10% import tariff on around $300bn (£247bn) worth of Chinese goods (Sky News).
Jeff Bezos has sold $1.8bn worth of Amazon shares over the past few days, in the ecommerce chief’s first stock sale since his divorce (The Financial Times £). Jeff Bezos has sold shares in Amazon worth £1.5billion as his private space company ramps up its activities (The Daily Mail).
Shares in Australian agricultural group GrainCorp fell on Friday after the company warned that it was likely to post a loss in this year, as it battles drought in the country and global trade tensions. (The Financial Times £)
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