Auquan’s Daily Wrap | 8th March: What you might have missed

Italy Tightens Smoking Laws: Impact on Tobacco Companies

Italy has proposed a nationwide smoking ban in open-air settings in addition to the already existing smoking ban in indoor public places. The proposal has caused concern among tobacco companies, leading to tensions among Italian ministers.

  • Philip Morris International, R. J. Reynolds Tobacco Company, and Japan Tobacco could decline sales due to the proposed smoking ban in open-air settings in Italy.
  • The ban could lead to increased pressure on these tobacco companies to find alternative sources of revenue or diversify their product offerings.
  • The tension among Italian ministers suggests that there may be more stringent anti-smoking measures in the future, which could further impact tobacco companies operating in Italy.

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UK Manufacturers Reshoring to Secure Supply Chains

UK manufacturers are making significant efforts to reshore and secure their supply chains amidst supply chain issues caused by Brexit, the COVID-19 pandemic, and rising energy prices. The supply chain disruptions have led to UK manufacturers with goods worth almost £24bn sitting in warehouses awaiting completion. In response, manufacturers are urged to step up the use of digital technologies in supply chain monitoring.

  • UK manufacturers are moving away from foreign suppliers, with more factories turning towards domestic sources for goods and services.
  • Some UK manufacturers are making serious moves to restore and secure their supply chains.
  • Rising energy prices have pressured UK clothing makers, who are forced to absorb costs.
  • Supply chain disruptions have led to UK manufacturers with goods worth almost £24bn sitting in warehouses awaiting completion.

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Japan's Workers Demand Higher Wages

Japanese workers demand higher wages in various retail, automobile, and electronics sectors. The labour unions in Japan are actively advocating for a wage increase, and the momentum for wage improvement is gaining pace. Several companies, including Shimadzu Corporation, Obayashi Corporation, and AEON Retail, have agreed to raise wages, indicating a positive trend.

  • Suzuki Labor Union demands a 6% wage increase for its members, which could increase production costs.
  • Companies such as Shimadzu Corporation, Obayashi Corporation, and AEON Retail agreed to increase wages by 5.7%, 2%, and 5%, respectively, which could impact their profit margins.
  • The wage increase in various sectors could lead to an increase in consumer spending and boost the economy.

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