British American Tobacco (BAT) has raised concerns about the long-term viability of its US-based cigarette brands, marking a significant shift in its outlook on the American market.

The company is now planning a massive $31.5 billion writedown, reflecting its dim view of the future prospects for these brands.

BAT, one of the world’s leading tobacco companies, has traditionally maintained a strong presence in the US market through brands like Newport and Camel. However, changing consumer preferences, stricter regulations, and the rise of alternative tobacco products like e-cigarettes have put pressure on the traditional cigarette industry.

The company’s decision to write down the value of its US brands highlights the challenges it faces in a market that is evolving rapidly. BAT is expected to focus more on the development and marketing of reduced-risk products and alternative nicotine delivery systems.

This strategic shift may have significant implications for BAT’s future operations and the broader tobacco industry. It remains to be seen how the company will navigate this changing landscape and whether it can adapt to the shifting preferences of consumers.

Bitcoin has once again reached the $44,000 mark, marking a significant milestone not seen since April 2022, as optimism surrounding the approval of Bitcoin exchange-traded funds (ETFs) continues to rise.

Investors and cryptocurrency enthusiasts are closely watching developments in the ETF space, with hopes of increased institutional adoption and regulatory clarity.

The latest surge in Bitcoin’s price comes as the U.S. Securities and Exchange Commission (SEC) is reviewing several Bitcoin ETF applications. These ETFs, if approved, would allow investors to gain exposure to Bitcoin through traditional financial markets, potentially attracting more institutional money into the cryptocurrency space.

Bitcoin’s price had been relatively stagnant in recent months, hovering around the $40,000 range. However, growing anticipation for ETF approval and positive sentiment in the crypto market have fueled the recent rally.

As a result, Bitcoin’s price surged past the $44,000 mark, reinvigorating interest among retail and institutional investors alike.

In summary, Bitcoin’s resurgence above $44,000 is fueled by mounting optimism regarding the approval of Bitcoin ETFs, which could bring more mainstream acceptance and investment into the cryptocurrency market.

As the SEC evaluates these ETF proposals, the crypto community eagerly awaits the potential impact on Bitcoin’s price and the broader digital asset landscape.

In a historic moment for the tech giant, Apple Inc. has officially crossed the remarkable milestone of a $3 trillion market capitalisation.

The Cupertino-based company’s stock soared to new heights, closing at a record-breaking valuation, solidifying its position as the world’s most valuable publicly traded company.

Apple’s journey to this extraordinary market cap began decades ago in a garage, and today it stands as a testament to innovation and consumer demand. The company’s relentless pursuit of cutting-edge technology, coupled with its successful product lineup, has consistently attracted investors and consumers alike.

Investors and analysts are now pondering what lies ahead for Apple as it reaches this monumental valuation.

Will it continue its upward trajectory, or are there challenges on the horizon? With competitors in the tech space continually evolving, maintaining this valuation will undoubtedly be no easy feat.

One question that remains on everyone’s mind is, can Apple sustain its impressive market cap growth? Additionally, how will this achievement impact the broader technology sector?

Furthermore, what strategies will Apple employ to continue its dominance in the market? These are questions that experts and enthusiasts alike will be closely monitoring in the coming months.

In the midst of a rapidly changing tech landscape, Apple’s market cap reaching $3 trillion marks a significant moment not only for the company but for the entire industry.

As the company continues to innovate and expand its product offerings, the world watches with bated breath to see if it can maintain its position as the global tech juggernaut.