Sign up to receive FirstFT by email hereTest your knowledge with the week in news quiz.British American Tobacco is poised to create a new tobacco giant. It has made a bn offer to buy control of rival US company Reynolds American, bringing together the makers of cigarette brands Lucky Strike and Camel. The move is the latest blockbuster consolidation effort in the tobacco industry, which has responded to years of litigation and the loss of consumer interest in developed markets with a combination of dealmaking to squeeze out costs and product innovation, such as electronic cigarettes, to generate stable returns. Shares in both companies climbed after the announcement. (FT)In the newsTrump fans the flames Republican presidential nominee Donald Trump doubled down on his refusal to accept the results of the US election on November 8, saying he would do so “if I win”, while reserving his right to legally challenge the outcome if he loses. His remarks came as a 10th woman came forward to accuse him of sexual misconduct, allegations he denies. (FT, NBC)Are you following the US presidential campaign? Be a part of the FT's election coverage by filling out our election survey.
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