British American Tobacco’s plans for Reynolds American could be one of the year’s biggest mergers MICHAELA REHLE/REUTERSBritish American Tobacco made a $47bn (£38.5bn) takeover approach for the 58% of Reynolds American, the cigarette giant behind Camel and Pall Mall, that it does not already own. Theresa May delayed a decision on where to build another runway in southeast England for at least one more year. The unemployment rate fell to an 11-year low of 4.9% in the three months to August, the Office for National Statistics said. The consumer prices index rose by 1% in September, against 0.6% a month earlier, because of higher energy and restaurant prices. It sparked fears of higher inflation once the…

Source: The Times October 22, 2016 22:52 UTC