Business
High-caffeine energy drinks to be banned for under-16s in England – Streeting
High-caffeine energy drinks will be banned for under-16s in England to prevent harm to children’s health, the Government has said.
The plan will make it illegal to sell energy drinks containing more than 150mg of caffeine per litre to anyone under 16 across all retailers, including online, in shops, restaurants, cafes and vending machines.
Lower-caffeine soft drinks – such as Coca‑Cola, Coca‑Cola Zero, Diet Coke and Pepsi – are not affected, and neither are tea and coffee.
However, high-caffeine energy drinks such as Red Bull, Monster, Relentless and Prime would all breach the limit.
Major supermarkets including Tesco, Sainsbury’s, Waitrose, Morrisons and Asda have already stopped sales of the drinks to youngsters, but the Department of Health said research suggests some smaller convenience stores are still selling them to children.
According to ministers, a ban could prevent obesity in up to 40,000 children and will help prevent issues such as disrupted sleep, increased anxiety and lack of concentration, as well as poorer school results.
Around 100,000 children are thought to consume at least one high-caffeine energy drink every day.
Health and Social Care Secretary Wes Streeting said: “How can we expect children to do well at school if they have the equivalent of a double espresso in their system on a daily basis?
“Energy drinks might seem harmless, but the sleep, concentration and wellbeing of today’s kids are all being impacted while high sugar versions damage their teeth and contribute to obesity.
“As part of our plan for change and shift from treatment to prevention, we’re acting on the concerns of parents and teachers and tackling the root causes of poor health and educational attainment head on.
“By preventing shops from selling these drinks to kids, we’re helping build the foundations for healthier and happier generations to come.”
A newly-launched consultation will now run for 12 weeks to gather evidence from experts in health and education as well as retailers, manufacturers, local enforcement leaders and the public.
Drinks containing more than 150mg of caffeine per litre must already carry warning labels stating they are not recommended for children.
Gavin Partington, director general of the British Soft Drinks Association, said firms do not market or promote the drinks to under-16s.
He added: “Our members have led the way in self-regulation through our long-standing energy drinks code of practice.
“Our members do not market or promote the sale of energy drinks to under-16s and label all high-caffeine beverages as ‘not recommended for children’, in line with and in the spirit of this code.
“As with all Government policy, it’s essential that any forthcoming regulation is based on a rigorous assessment of the evidence that’s available.”
According to the Department of Health, up to one in three children aged 13 to 16, and nearly a quarter of children aged 11 to 12, consume one or more high-caffeine energy drink every week.
Education Secretary Bridget Phillipson said: “This Government inherited a scourge of poor classroom behaviour that undermines the learning of too many children – partly driven by the harmful effects of caffeine-loaded drinks – and today’s announcement is another step forward in addressing that legacy.”
Professor Steve Turner, president of the Royal College of Paediatrics and Child Health, said: “Paediatricians are very clear that children or teenagers do not need energy drinks.
“Young people get their energy from sleep, a healthy balanced diet, regular exercise and meaningful connection with family and friends.
“There’s no evidence that caffeine or other stimulants in these products offer any nutritional or developmental benefit, in fact growing research points to serious risks for behaviour and mental health.
“Banning the sale of these products to under-16s is the next logical step in making the diet of our nation’s children more healthy.”
Carrera, from the youth-led group Bite Back, which campaigns for changes to the way unhealthy foods are made, marketed and sold, said: “Energy drinks have become the social currency of the playground – cheap, brightly packaged, and easier to buy than water.
“They’re aggressively marketed to us, especially online, despite serious health risks.
“We feel pressured to drink them, especially during exam season, when stress is high and healthier options are hard to find.
“This ban is a step in the right direction, but bold action on marketing and access must follow.”
Amelia Lake, professor of public health nutrition at Teesside University, said: “Our research has shown the significant mental and physical health consequences of children drinking energy drinks.
“We have reviewed evidence from around the world and have shown that these drinks have no place in the diets of children.”
Barbara Crowther, of the Children’s Food Campaign at Sustain, an alliance of food, farming and health organisations, said the drinks were “branded and marketed to appeal to young people through sports and influencers, and far too easily purchased by children in shops, cafes and vending machines”.
Professor Tracy Daszkiewicz, president of the Faculty of Public Health, said: “Mounting evidence shows us that high-caffeine energy drinks are damaging the health of children across the UK, particularly those from deprived communities who are already at higher risk of obesity and other health issues.
“We welcome this public health intervention to limit access to these drinks and help support the physical and mental wellbeing of our young people.”
James Lowman, chief executive of the Association of Convenience Stores, said: “The majority of convenience stores already have a voluntary age restriction in place on energy drinks, and will welcome the clarity of regulation on this issue.
“Our members have a long-standing track record of enforcing age restricted sales on different products, but it is essential that the Government effectively communicates the details of the ban to consumers to avoid the risk of confrontation in stores.”
NEW DELHI: The govt expects businesses to pass on the benefit of lower goods and services tax (GST) to consumers and the states and the Central Board of Indirect Taxes (CBIC) and Customs will engage with industry on the issue. “…last time, industry had passed on the benefits of rate cuts and you would have seen that a lot of industry have come out and committed to transmitting this benefit… we will engage with industry and ensure that benefits are given to the consumers,” revenue secretary Arvind Shrivastava said at a press conference.There are indications that industry will respond positively. “CII strongly holds the view that industry would swiftly pass the benefits to the consumers and partner with govt to ensure a smooth, timely rollout that lifts demand and supports jobs,” industry body CII said in a statement within minutes of the announcement. When GST was introduced in 2017, the govt had put in place an anti-profiteering provision, which pushed industry to pass on the benefits. While the anti-profiteering agency has been disbanded, the provision still sits in the statutes.Shrivastava, however, suggested that industry was largely compliant, pointing out that 704 cases (60%) were registered in the initial years of GST, with alleged profiteering of Rs 4,362 crore. Shrivastava also said that CBIC will issue guidance on transition for goods that have already been sourced and are lying with dealers and distributors. A govt official said that goods that are in stock and will see reduction in GST will have to be sold at the new tax rate after Sept 22, but businesses will be able to get credit for it.
Business
Sitharaman’s ‘Diwali gift’: From paneer to paratha, Centre explains tweaks in GST rates – The Times of India
In what the government on Wednesday called a Diwali gift, the GST Council has approved sweeping rate cuts across key sectors. Finance minister Nirmala Sitharaman announced that daily-use items like hair oil, shampoo, toothpaste, soap, toothbrushes, and shaving cream will now attract just 5% GST, down from 18%. GST on individual health and life insurance has been scrapped entirely. Farmers benefit too, with tractor tyres, parts, and tractors now taxed at only 5%.
Rate change FAQs
When will the changes in GST rates come into force?The changes in GST rates on services and goods other than cigarettes, chewing tobacco products, unmanufactured tobacco and beedi will be effective from Sept 22.Will e-way bills have to be cancelled and generated afresh on goods in transit when new rates take effect?E-way bills currently in transit will continue to remain valid as per their original validity period.What is the reason for the 40% rate on ‘other non-alcoholic beverages’?Principle behind the recent rate rationalisation is to keep similar goods at the same rate to avoid issues of misclassification and disputes.What is the reason for revising the GST rate only on specified varieties of Indian bread?Bread was already exempt while pizza bread, roti, porotta, paratha attracted different rates. All Indian breads have been exempted even though only a few goods have been mentioned as examples.Why has rate of carbonated beverages of fruit drink or carbonated beverages with fruit juice increased?These goods attracted compensation cess in addition to GST. Since it has been decided to end compensation cess levy, the tax has been increased to maintain pre rate rationalisation level of tax.Why is there a different tax treatment between paneer and other cheese?Prior to rate rationalisation, paneer sold in other than pre-packaged and labelled form already attracted nil rate. The changes have been made only for paneer supplied in pre-packaged and labelled form. Paneer is an Indian cottage cheese. This is mostly produced in the small scale sector. The measure is intended to promote Indian cottage cheese.What will be rate of GST on services of admission to sporting events other than sporting events like IPL?Admission to other sporting events, including recognised sporting events, where the ticket price is not more than Rs 500 continues to be exempt, and if the ticket price is more than Rs 500, it continues to be taxed at the standard rate of 18%. TNN
Business
American Eagle stock soars 20% as retailer says Sydney Sweeney campaign is ‘best’ to date, beats earnings
American Eagle said Wednesday its partnership with Sydney Sweeney has been its “best” advertising campaign to date as it announced fiscal second-quarter earnings that beat expectations.
The company’s splashy, yet controversial, campaign with the “Euphoria” star led to some criticism and blowback but the launch, coupled with a recent partnership with Taylor Swift’s new fiancé Travis Kelce, has led to new customer acquisition and positive traffic across channels.
American Eagle stock soared more than 20% in after-hours trading Wednesday.
“The fall season is off to a positive start. Fueled by stronger product offerings and the success of recent marketing campaigns with Sydney Sweeney and Travis Kelce, we have seen an uptick in customer awareness, engagement and comparable sales,” CEO Jay Schottenstein said in a news release. “We look forward to building on our progress and the continued strength of our iconic brands to drive higher profitability, long-term growth and shareholder value.”
The company also re-issued its full-year guidance after withdrawing it earlier this year. It now expects comparable sales to be approximately flat, better than the 0.2% decline analysts had anticipated, according to StreetAccount.
It still expects gross margin to be down for the duration of the year, but it made key changes to its outlook for operating income, which is bearing the brunt of the tariff impact. The company is now expecting its full-year operating income to be between $255 million and $265 million, down from a previous range of between $360 million and $375 million.
Here’s how American Eagle performed during the quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:
- Earnings per share: 45 cents vs. 21 cents expected
- Revenue: $1.28 billion vs. $1.24 billion expected
The company’s reported net income for the three-month period that ended Aug. 2 was $77.6 million, or 45 cents per share, compared with $77.3 million, or 39 cents per share, a year earlier.
Sales fell to $1.28 billion, down slightly from $1.29 billion a year earlier.
For the current quarter, American Eagle is expecting comparable sales to be up in the low single digit range, better than the 0.9% uptick analysts had expected, according to StreetAccount. It’s expecting the same trend during the fourth quarter.
So far this year, American Eagle’s performance has been marred by merchandising missteps, tariffs and an uncertain consumer that’s being more selective when spending money on products like clothes and shoes.
To turn things around, American Eagle launched its campaign with Sweeney ahead of the crucial back-to-school shopping season, but in some ways, that also backfired when it incited outrage from some customers.
The slogan American Eagle chose for the campaign — “Sydney Sweeney has great jeans” — led some far-left critics to say the remark was a double entendre and a nod to eugenics. Meanwhile, those on the right celebrated the campaign, leading President Donald Trump to weigh in and call it the “hottest” ad around.
More widely, the campaign also faced pushback from some who said the ads were overly sexualized and out of touch, leading them to wonder what type of consumer the company was targeting.
The campaign launched on July 23 at the tail end of American Eagle’s fiscal second quarter, but the company said it’s so far been a success, despite the pushback it received. The Sweeney campaign, along with the partnership it launched with Kelce, has led to “meaningful improvement in the business” with comps so far this quarter up in the mid-single digits. American Eagle said it’s gained 700,000 new customers and that traffic across channels has been “consistently positive” throughout August, despite some news reports indicating the contrary.
The Sweeney campaign has led to denim sellouts, double-digit traffic growth and increased awareness and engagement, the company said. The Sydney Jacket sold out in one day and The Sydney Jean, a custom style that donated 100% of proceeds to the Crisis Text Line, which provides mental health support, sold out in one day.
Meanwhile, American Eagle’s launch with Kelce, the Kansas City Chiefs tight end, the day after he announced his engagement to the pop star, drove three times more sales in one day than past collaborations did in a week, the company said. Many of the items, specifically ones worn by Kelce and his fellow athletes, sold out.
American Eagle’s partnerships with Sweeney and Kelce highlight the work the retailer is doing to stay relevant with consumers and cut through the noise as spending remains soft.
It’s also facing stiff competition from peers like Abercrombie & Fitch, Gap and Levi’s. Recently, Gap launched its “Better in Denim” campaign featuring Katseye and Kelis’s 2003 hit “Milkshake.” Meanwhile, Levi’s has had an ongoing campaign featuring Beyoncé while Abercrombie has taken a sports focus and partnered with the NFL.
Compounding American Eagle’s challenges is the uncertain tariff environment. American Eagle has been working to reduce its reliance on China to under 10% this year but it also has a heavy manufacturing presence in Vietnam and India, which have been the subject of reciprocal tariffs.
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