Marlboro men may split up

US tobacco giant Altria, maker of Marlboro cigarettes, could this week announce plans to spin off its international business, leaving it to concentrate on its domestic operations.

The company behind Philip Morris US and Philip Morris International is considering splitting off its overseas arm, based in Lausanne, Switzerland. The group’s share price has been held back in part by declining sales at home and issues arising from lawsuits against its US operations. Executives believe a demerger could help to restore value. The combined group has a market value of $145.7 billion (£72.5 billion).

Evolution still evolving

EVOLUTION GROUP, the stockbroker and investment bank, has lured a team of private-client fund managers from its rival Gerrard as part of its aggressive expansion plans.

Evolution has been bolstering its position in private-client fund management after it bought Williams de Broë, a rival stockbroker and fund manager, from the Dutch bank ING in June last year. The group wants to boost its funds from £2 billion last year to £3 billion by April.

Net travel firm raises £6m

A COMPANY that provides online corporate travel services to organisations including the BBC and BT has raised £6m in a recapitalisation. As part of the funding deal, Bestport Ventures has invested £1.75m in Hotelscene in exchange for a 37% stake in the business. The remainder of the money came from management and HSBC.

Burger sales fillip

THE world’s second-largest fast-food burger chain, Burger King, said the focus in Britain on premium products such as its new Aberdeen Angus Burger helped drive a 3.4% increase in worldwide like-for-like sales.

Announcing fourth-quarter and annual results, John Chidsey, chief executive, revealed group revenues had reached a record $2.2 billion (£1.1 billion) for the year.

Car firms cut pension deficit

PENSION deficits at Jaguar and Land Rover have fallen sharply. The companies’ 2006 accounts, recently filed at Companies House, show the shortfall in Jaguar’s pension scheme has gone from £298m to £150m, and at Land Rover from £194m to £71m. The reductions could help boost the sale price of the two British car companies, which have been put up for sale by Ford. Tata, the Indian conglomerate, last week confirmed its interest in buying them. It is expected to compete with a group of private-equity firms.

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