Marlboro maker Altria's profit more than doubled in the fourth quarter on higher cigarette prices and lower costs for paying down debt.» Read More
Altria Group posted lower quarterly profit Wednesday, due in part to costs for closing a U.S. cigarette plant and moving some production to Europe as it attempts to cut costs and reduce excess capacity.
Smoking was banned from Sunday in all public buildings in England, including pubs, movie theaters, shopping malls -- and even Buckingham Palace.
With a ban on smoking in all enclosed public spaces coming into force in England on Sunday, analysts predict nightclubs, casinos and bingo firms will be hardest hit while restaurants will be the biggest beneficiaries.
Altadis Chief Executive Antonio Vazquez said Thursday that prospective bidders for the tobacco company have finished their due diligence.
Shares of Reynolds American were up more than 3 percent Tuesday ahead of a ruling in a patent infringement case filed against the maker of Camel and Salem cigarettes.
The Motion Picture Association of America announced Thursday that movies that “glamorize” smoking could soon be slapped with an “R” rating. Is the MPAA caving in to special-interest pressure -- and will the push for a Hollywood smoke-out curb smoking? Marc Dann, Ohio state attorney general, and Gary Nolan, spokesman for The Smokers Club, debated the issue on “Morning Call.”
European tobacco company Altadis said Thursday first-quarter net profit rose more than 6%, recovering after a damaging price war a year earlier.
Altadis said on Friday private equity groups CVC and PAI have made a 12.8 billion euro ($17.42 billion) offer for the Franco-Spanish tobacco group, trumping an offer by Britain's Imperial Tobacco.
Imperial Tobacco made no mention of its attempted takeover of Spanish rival Altadis alongside interim results, which revealed a 13% rise in first-half earnings, largely in-line with expectations. The world's fourth-largest cigarette group added that it anticipates the full-year outcome meeting expectations.
Loewssaid first-quarter profit rose 42%, topping Wall Street forecasts, helped by better-than-expected results from its insurance, tobacco and oil drilling units.
Private equity group CVC Capital Partners is preparing a counterbid for Franco-Spanish tobacco firm Altadis, a source close to the deal told Reuters on Thursday.
Kraft Foods Chief Executive Irene Rosenfeld said Monday she expects the nation's largest food company to show strong growth in the future.
Altria Group said its shareholders will receive 0.692024 of a Kraft Foods share for each Altria share held as of the close of business on March 16 as it completes its spinoff of the largest North American food maker.
Imperial approached Altadis last Wednesday with a 45-euro-a-share bid and looked for friendly talks. But the Madrid-based group rejected the bid late Friday, and a person familiar with Altadis said 53 euros a share would be an "adequate" value.
Britain's Imperial Tobacco will continue to push for a deal to acquire Franco-Spanish tobacco company Altadis, which rejected an offer of 45 euros ($59) a share.
Here some of Friday's big movers on European stock markets: Boehler-Uddeholm, Verbund, Thomson, Bekaert, Imperial Tobacco, Unilever, TUI, Dexia and Pirelli.
Here some of Thurday's big movers on European stock markets: Altadis, Imperial Tobacco, Pirelli, Cap Gemini, Swedish Match, Omega Pharma and AstraZeneca.
Britain's Imperial Tobacco on Thursday confirmed it had made a bid approach to Altadis at 45 euros a share in cash valuing the Spanish firm at 11.5 billion euros ($15.2 billion).
In a market like this, the best offense is a good defense. And there’s no better play than cigarettes for that game plan.
Sin pays. You can invest in good corporate citizens and go nowhere, or you can get down with alcohol, tobacco and firearms to really make some money. Don’t believe us? Here’s proof.