US tobacco major Altria Group has announced that it has exchanged its entire minority economic investment in leading e-cigarette maker Juul Labs for a non-exclusive, irrevocable global license to certain of Juul’s heated tobacco intellectual property.
“We believe exchanging our Juul ownership for intellectual property rights is the appropriate path forward for our business,” said Billy Gifford, Altria’s chief executive.
“Juul faces significant regulatory and legal challenges and uncertainties, many of which could exist for many years. We are continuing to explore all options for how we can best compete in the e-vapor category.”
The US Food and Drug Administration last year sought to pull all of Juul Labs’ products off the market, though that decision is on hold while the company challenges it.
Altria in late 2018 invested about $13 billion in Juul, a stake that has been written down several times as Juul has faced various government crackdowns. As of December 31, 2022, the carrying value and estimated fair value of Altria’s Juul investment was $250 million (£207m).
Last year, Altria, the parent company of Philip Morris USA and other brands in tobacco and nicotine, has ended a non-compete agreement with Juul, allowing it to pursue the acquisition of another vaping company, or to develop its own products.
In the heated tobacco sector, the company has the exclusive US commercialisation rights to the IQOS tobacco heating system and Marlboro HeatSticks through April 2024, but in October last year Philip Morris International and Altria have decided to end the companies’ commercial relationship covering IQOS in the US as of April 30, 2024.
In the same month, Altria has announced a strategic partnership with JT Group, launching the joint venture Horizon Innovations LLC with Japan Tobacco International (JTI), a subsidiary of JT which sells the heated tobacco product Ploom, for the US marketing and commercialisation of heated tobacco stick products and its expanded pipeline of wholly owned products.
Dutch dairy collective FrieslandCampina has agreed to merge with smaller Belgian rival Milcobel, creating a leading dairy cooperative.
FrieslandCampina, whose brands include Yazoo and Chocomel, said the merger will provide the foundation for a future-oriented organisation that has dairy front and centre for member dairy farmers, employees, consumers, and customers.
The proposed merger is subject to approval by FrieslandCampina’s members’ council, Milcobel’s extraordinary meeting of shareholders, and antitrust authorities. The companies said member dairy farmers, employees, works councils and trade unions have been informed about the merger proposal.
Both companies, owned by dairy farmers for many generations, complement each other well in market positions and product portfolios. The merger offers further business development opportunities in market segments such as consumer cheese, mozzarella, white dairy products (such as milk, buttermilk, and yoghurt), and ingredients, as well as benefits in efficiency and expertise, for example in the area of sustainability.
“The combination of FrieslandCampina and Milcobel is bigger than the sum of its parts. It creates a future-oriented, combined dairy cooperative that is resilient and capable of capitalising on opportunities in the dynamic global dairy market,” said Sybren Attema, chair of the board of Zuivelcoöperatie FrieslandCampina.
“This strengthens our appeal to member dairy farmers, business partners and employees. Moreover, this step supports us in realising a leading milk price for our member dairy farmers, now and in the future.”
Betty Eeckhaut, chair of the board of Milcobel, said: “The cooperative philosophy, which is deeply rooted at both Milcobel and FrieslandCampina, is the bedrock for this proposed merger. Our goal remains to create added value for our member dairy farmers.
“Through our regional complementarity we will become the cooperative dairy partner of choice for current and new members, with a solid milk supply for a successful future. For employees, the new organisation provides great opportunities to grow in an international environment. For customers, this merger means more innovation, an expanded product portfolio and further professionalisation of our services.”
Based on the combined 2023 annual figures of FrieslandCampina and Milcobel - excluding Milcobel's Ysco business, which is in the process of being divested - the new, combined organisation has a pro forma revenue of more than €14 billion (£11.6bn) , operates in 30 countries, employs nearly 22,000 staff worldwide, and processes a total volume of approximately 10 billion kilograms of milk.
The boards of the cooperatives and executive management of the two parties have signed a framework agreement regarding the proposed merger. The companies aim to finalise a detailed merger proposal in the first half of 2025, which will then be discussed with the members of FrieslandCampina and the shareholders of Milcobel.
The UK government has pledged stronger measures to combat anti-social behaviour and shoplifting, which it acknowledges as serious crimes that disrupt communities and harm businesses.
Addressing a House of Lords debate on Monday, Home Office minister Lord Hanson detailed plans to abolish the controversial £200 shoplifting threshold and to introduce a new offence for assaults on retail workers.
“Anti-social behaviour and shop theft are not minor crimes. They cause disruption in our communities,” Lord Hanson stated.
“Shop theft in particular costs retailers across the nation millions of pounds, which is passed on to us as customers, and it is not acceptable. That is why, on shop theft, we are going to end the £200 effective immunity. For shop workers, we will protect them by introducing a new offence, because they are very often upholding the law in their shops on alcohol, tobacco and other sales.”
He also emphasised the government’s commitment to restoring visible neighbourhood policing, with 13,000 additional officers and Police Community Support Officers (PCSOs) planned, as well as piloting new “respect orders” to ban repeat offenders from town centres.
Later on Wednesday, the home secretary announced a £1 billion funding boost for police across England and Wales to restore neighbourhood policing. The money will include new funding of £100 million to kickstart the recruitment of 13,000 additional neighbourhood officers, community support officers and special constables.
The debate was initiated by Labour peer Baroness Ayesha Hazarika, who painted a vivid picture of the toll anti-social behaviour takes on workers and communities. “Many people who work in shops feel like they are living in a war zone,” she said. “Anti-social behaviour can so often be the canary down the coal mine and tell a wider story about what kind of society we are living in.”
Baroness Hazarika also urged the use of technology such as facial recognition to target hardened criminals responsible for terrorising shops and local residents.
Lord Hanson agreed, adding that the government is equipping police with the resources to better address persistent offenders, including funding initiatives like Operation Pegasus, which targets organised retail crime.
Retail trade union Usdaw has welcomed the Lords debate tackling anti-social behaviour and shoplifting.
“We very much welcome that Baroness Hazarika has raised this hugely important issue for our members. It is shocking that over two-thirds of our members working in retail are suffering abuse from customers, with far too many experiencing threats and violence,” Paddy Lillis, Usdaw general secretary, said.
“After 14 years of successive Tory governments not delivering the change we need on retail crime, we are pleased that the new Labour government announced a Crime and Policing Bill in the King’s Speech and all the measures that it contains, as set out by Lord Hanson.
“The chancellor announced in the Budget funding to tackle the organised criminals responsible for the increase in shoplifting, and the government has promised more uniformed officer patrols in shopping areas. It is our hope that these new measures will help give shop workers the respect they deserve.”
In response to the mounting pressures faced by postmasters across the UK, the Post Office has unveiled a centralised wellbeing platform aimed at simplifying access to support resources.
Post Office said the surge in shoplifting and violent incidents, documented in the 2024 ACS Crime Report, has only intensified the demand for comprehensive support.
With shoplifting on the rise year-on-year since 2021, and the Christmas trading period presenting heightened risks due to increased footfall and stock levels, the wellbeing of postmasters has become a pressing concern.
The new wellbeing platform, accessible via the Branch Hub app, provides a single point of access to a range of resources designed to meet Postmasters' immediate and ongoing needs. It is divided into three sections:
‘I Need Help Right Now’: Offers urgent support, including access to emergency services, mental health first aiders, , area and business support managers and organisations like Samaritans.
‘More Support and Guidance’: Provides practical tools such as security advice, social media abuse resources, and connections to organisations like Citizens Advice and Mind.
‘Access Community Support’: Encourages peer connections through WhatsApp and Facebook groups, as well as in-person meetings.
The initiative, a collaboration between the Post Office, the National Federation of Sub-Postmasters (NFSP), and Voice of the Postmaster, underscores a shift towards a more cooperative approach between historically independent groups, and creates a shared wellbeing network that is accessible to all postmasters, regardless of affiliation.
Mark Eldridge, postmaster experience director at Post Office, said the initiative will ensure that anyone who needs help can find it quickly and easily.
“It’s about creating a culture of care and resilience in the face of the challenges our postmasters face every day. If the initiative means helping just one postmaster, then we have done our job successfully,” Eldridge added.
Tony Fleming, postmaster at Thorne Post Office, shared how the initiative provided vital support following a traumatic armed robbery at his branch.
“It was incredibly difficult for the person faced with this violent threat, as well as the wider team. It’s a traumatic experience to go through as part of your day job and having the immediate support of the Wellbeing resource was invaluable – it really was wellbeing personified and gave me and everyone in the branch the support to get back to doing what we do best, serving our fantastic community in Thorne,” Fleming said.
Paul Patel, a Hampshire-based postmaster, echoed this sentiment, highlighting the platform’s ability to combat isolation and foster collaboration:
“It has been a difficult time for all postmasters who continue to serve their communities every day often feeling alone in their daily work life. It’s such a privilege to collaborate across the network to support Postmasters wellbeing from forming friendships to guiding for more professional support.”
Christine Donnelly of the NFSP highlighted the initiative’s accessibility and symbolic value.
“From a postmaster perspective this works on several levels. It is an easily accessible resource that offers advice and facts, but it also says by implication that we care, that participants from different areas of the business recognised a need and worked together to make it the best it could be,” Donnelly noted.
“It says you are not alone or the only one - how can you be if there is a whole site available?”
The Post Office plans to evolve the platform based on postmaster feedback, ensuring it remains relevant to emerging challenges.
Earlier this week, Post Office has announced a £20 million boost for postmasters to address their concerns that their income has not kept up with inflation over the past decade.
Both independent postmasters and Post Office’s retail partners that operate branches on its behalf will receive the top-up payment ahead of Christmas. The top-up payment will be based on both the standard fixed and variable remuneration the branch received in November.
Independent retailers have weathered one of their most challenging years in 2024, with multiple headwinds affecting the sector, according to the British Independent Retailers Association (Bira).
With pressures mounting throughout the year, independent retailers have faced an increasingly difficult trading environment marked by changing consumer behaviour and economic uncertainties.
"2024 has presented unprecedented challenges for independent retailers,” said Andrew Goodacre, CEO of Bira. “Consumer spending on non-food items has declined significantly, while persistent footfall problems and fragile consumer confidence have impacted high streets nationwide. Despite inflation coming under control, interest rates are falling slowly, affecting both business and consumer spending."
"The retail landscape has become increasingly competitive, with large chains implementing deeper and longer discount periods. The rise of ultra-fast fashion retailers like Shein and Temu has created additional pressure on margins, whilst deflation on non-food items has further squeezed profits," he added.
The sector has also grappled with retail crime, with Bira's latest survey showing 78.79 per cent of businesses reporting increased frequency or severity of theft incidents.
Research from PwC earlier this year also highlighted the scale of the challenge, with 6,945 outlets shutting – equating to 38 store closures per day, up from 36 per day in 2023. The figure outnumbered the rate of new store openings, which rose modestly to 4,661, averaging 25 openings each day.
Mr Goodacre said: "The key difficulties independent retailers are grappling with include low consumer demand, as consumer confidence remains fragile and shoppers are highly value-focused. Independent shops struggle to compete on price as large chains are able to discount more deeply and for longer periods."
Looking ahead to 2025, retailers face new challenges. He added: "Medium-sized retailers will see a significant increase in employment costs, while thousands of smaller retailers will be hit with higher business rates as relief drops from 75per cent to 40 per cent."
However, Mr Goodacre said he sees reasons for optimism and added: "We expect 2025 to bring some positive changes. Wages are set to rise faster than inflation, which should boost consumer spending. Both inflation and interest rates should continue to fall, helping to rebuild consumer confidence."
"The circular economy presents a growing opportunity for independent retailers, and with economic growth set to improve, we anticipate better trading conditions. While challenges remain, independent retailers who stay adaptable and resilient will find opportunities in the year ahead."
Nestlé Waters is facing a potential halt to its production of the iconic Perrier mineral water in southern France due to health risks, French media reported.
A confidential report published by French newspaper Le Monde and Radio France revealed that health authorities are recommending a production stoppage due to concerns over the sanitary quality of the water source.
Le Monde said the sparkling water brand, obtained at its source in Vergèze in the Gard prefecture, is under threat of losing its natural mineral water label, noting that “a confidential report from the Occitanie regional health agency leaves little room for any other outcome” and that the “blow could be fatal for Perrier”.
The report, citing an inspection conducted at the Perrier bottling plant in Vergèze, highlights the “regularly degraded sanitary quality” of the water catchment areas. Specifically, the report points to a “virological risk” associated with the water source.
In response to the findings, the regional health agency (ARS) has “invited” Nestlé Waters to “strategically consider another possible food use for the current mineral water catchments,” contingent upon the provision of “additional health safety guarantees.”
Nestlé Waters has not yet issued a formal statement regarding the potential production stoppage. However, the company has previously acknowledged contamination issues at the Vergèze site. In April this year, authorities ordered the destruction of millions of Perrier bottles due to “fecal” contamination detected in one of the water sources.
“Presented at the time by Nestlé and the prefecture as a one-off event linked to intense rainfall, this situation was in fact the consequence of a general deterioration in the quality of the groundwater exploited by Nestlé at Vergèze,” said Le Monde.
The future of the brand and its production site in Vergèze will be decided by the Gard prefecture, which must rule on Nestlé’s application in October 2023 to renew the operating permit for the ‘Perrier spring’. The prefecture told the paper that the decision could be made in the “first half of 2025” after receipt of an “opinion by approved public health hydrogeologists”, in addition to the ARS report.
Earlier in September, Nestlé Waters has agreed to pay €2 million (£1.7m) to close French probes over illegal wells and treatment of mineral water.
The deal ends preliminary probes into the use of wells without authorisation and fraud for filtering its mineral waters - a practice that is illegal in France where mineral waters are supposed to be natural.
The Swiss group will in addition spend €1.1m over two years on projects to restore the environment in several French towns where it operates.