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The top story for the Financial Times is on cigarette maker Philip Morris International, which has raised its bid to take over UK-based company Vectura, which makes inhalers. But the move by PMI has been criticised by anti-smoking campaigners who point out that Vectura’s medicines are used to help people with breathing problems. The FT adds that this is the latest in the “spate of recent raids by private equity firms on UK businesses”.