The New York City Council on Wednesday held a hearing to debate banning e-cigarettes from public places.» Read More
Bid target Altadis posted in-line first-half net profit of 247 million euros ($335.8 million) on Thursday, but predicted the second half could be sapped by the effect of dollar weakness on income.
Altria Group is widely expected to announce plans for the spinoff of its Philip Morris International unit this week, but some analysts see limited gains for a stock that already looks more expensive than its peers.
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British American Tobacco beat forecasts with a 9% rise in first-half earnings on Thursday, but said profits growth would slow in the second half due to excise tax rises and increased investment.
Walt Disney on Wednesday became the first major Hollywood studio to ban depictions of smoking, saying there would be no smoking in its family-oriented, Disney-branded films and it would "discourage" it in films distributed by its Touchstone and Miramax labels.
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.