LONDON >> British American Tobacco has offered to buy out Reynolds American Inc. for $47 billion in an attempt to gain a strong presence in the U.S., a lucrative market where sales of electronic cigarettes are booming as traditional smoking fades.
The takeover would create the world’s largest publicly traded tobacco company and combine BAT’s presence in developing countries, where anti-smoking campaigns are not as strong as in the U.S. and Europe, with Reynolds’ almost exclusive focus on the U.S.
McDonald’s sales up 1.3% at U.S. stores
NEW YORK >> The launch of all-day breakfast helped McDonald’s record higher sales at established U.S. locations for a fifth straight quarter, but the boost from that is shrinking and the company is hoping new menu items and recipe tweaks will keep customers coming back.
McDonald’s said sales rose 1.3 percent at established U.S. locations in the third quarter, matching what Wall Street analysts expected. That’s down from the 1.8 percent rise the world’s biggest burger chain reported in the previous quarter.
Worldwide, sales grew 3.5 percent at established locations, far exceeding the 1.3 percent growth analysts were expecting, according to FactSet.
Wal-Mart invests $50M in Chinese grocer
NEW YORK >> Wal-Mart is investing $50 million in New Dada, China’s largest online grocery and logistics company, as it moves to strengthen its foothold in the nation’s fiercely competitive food market.
The move, announced late Thursday, is an extension of Wal-Mart’s pact with JD.com, China’s No. 2 e-commerce site. New Dada, partly owned by JD.com, has more than 25 million registered customers and delivers to more than 300 cities.
China is a key growth market for Wal-Mart.
ON THE MOVE
Kamehameha Schools has named Nalani Blane Kealaiki regional director of Ewa within its Community Engagement and Resources Group. Her 15 years of experience in program management and administration include Olomana Loomis ISC, serving as a lead project consultant and client liaison for the school’s Kona Oahu Regional Action Plan.
