Food and Beverage Tobacco

  • WASHINGTON, June 20- The U.S. Supreme Court on Monday limited the scope of federal racketeering law, handing R.J. Reynolds a victory in its effort to fend off a lawsuit by European Union nations accusing the cigarette maker of running a global money-laundering scheme involving narcotics smuggling into Europe. The company has long believed that the EU's claims...

  • WASHINGTON, June 20- The U.S. Supreme Court on Monday limited the scope of federal racketeering law, handing R.J. Reynolds a victory in its effort to fend off a lawsuit by European Union nations accusing the cigarette maker of running a global money-laundering scheme involving narcotics smuggling into Europe. Reynolds in 2002 of directing a decade-long scheme...

  • WASHINGTON, June 20- The U.S. Supreme Court on Monday handed a win to R.J. Reynolds in its effort to fend off a lawsuit by European Union nations accusing the cigarette maker of running a global money-laundering scheme involving narcotics smuggling into Europe. The justices in their 4-3 ruling threw out a lower-court ruling in favor of the EU and 26 member states.

  • WASHINGTON, June 20- The U.S. Supreme Court on Monday left in place the top Illinois court's ruling throwing out a huge $10.1 billion verdict against Philip Morris USA, rejecting an appeal focusing on accusations that a judge in the case was biased in favor of the cigarette maker. Plaintiffs in the case said Lloyd Karmeier, an elected member of the Illinois Supreme...

  • WASHINGTON, June 20- The U.S. Supreme Court on Monday left in place the top Illinois court's ruling throwing out a huge $10.1 billion verdict against Philip Morris USA, rejecting an appeal focusing on accusations that a judge in the case was biased in favor of the cigarette maker. Plaintiffs in the case said Lloyd Karmeier, an elected member of the Illinois Supreme...

  • A customer prepares to try an "iQOS" smokeless tobacco e-cigarette at an iQOS store in Tokyo, Japan.

    JPMorgan just upgraded Philip Morris International to overweight from neutral.

  • *Cigarettes a major tax revenue source in China. BEIJING, June 3- A recent draft of the Chinese national anti-smoking law significantly weakens previously proposed legislation, several people familiar with the bill told Reuters, and some public health advocates said the powerful state-owned tobacco monopoly had lobbied for the changes.

  • How harmful are e-cigarettes?

    E-cigarettes are a million times more dangerous than Hong Kong's air, notes Chung Shan Shan, assistant professor at Hong Kong Baptist University.

  • E-cigarettes

    Governments are cracking down hard on e-cigarettes through more regulation, which could benefit traditional tobacco companies.

  • NEW YORK, May 26- For more than eight months, investors have poured money into the riskiest U.S. municipal bonds, boosting prices as they dive into anything that can give them fatter yields in a global low-rate environment. They are waving red flags about its most notorious borrower, Puerto Rico, but also its best-performing sector, tobacco, and other potentially...

  • More American are quitting smoking

    The smoking rate among US adults is now falling to the biggest one-year decline in more than two decades.

  • PARIS/ LONDON, May 23- French insurer AXA plans to stop investing in the tobacco industry, citing the impact of smoking on public health, and said it plans to sell its 1.8 billion euros of assets in the sector. "With this divestment from tobacco, we are doing our share to support the efforts of governments around the world," incoming AXA Chief Executive Thomas Buberl...

  • PARIS, May 23- French insurer AXA plans to stop investing in the tobacco industry, citing the impact of smoking on public health, and said it plans to sell its 1.8 billion euros of assets in the sector. AXA said it would divest its 200 million euros of equity holdings in tobacco companies immediately. "With this divestment from tobacco, we are doing our share to support...

  • *High Court finds new rules valid, lawful in all respects. LONDON, May 19- Britain got the go-ahead on Thursday to make plain packaging compulsory on cigarettes when a court rejected a legal challenge brought by the world's top four tobacco companies. In its ruling, the High Court highlighted the moral dimension to the new regulations.

  • LONDON, May 19- Britain got the go-ahead on Thursday to make plain packaging compulsory on cigarettes when a UK court rejected a legal challenge brought by the world's top four tobacco companies. Philip Morris International, British American Tobacco, Japan Tobacco International and Imperial Brands had argued the law, due to come into force on Friday,...

  • LONDON, May 19- Britain can go ahead with implementing its plan to require "plain packaging" on cigarettes this month, after the English High Court on Thursday rejected a legal challenge brought by Big Tobacco companies.

  • NEW YORK/ CHICAGO, May 17- Fitch Ratings' announcement that it will pull its ratings on tobacco bonds sold by U.S. states and local governments was not shaking up the market for the high-performing debt on Tuesday. Billions of dollars of bonds are backed by money from U.S. tobacco companies under a 1998 master settlement agreement to compensate 46 states,...

  • SAN FRANCISCO, May 16- The board of the California Public Employees' Retirement System on Monday shortened the timeline for the completion of a study examining its 16- year-old decision to divest from tobacco. Calpers spokesman Joe DeAnda said the board will likely make an investment decision upon completion of the study but stressed that the review "is in no...

  • NEW YORK/ WASHINGTON, May 5- The U.S. government on Thursday took wide-ranging steps to crack down for the first time on e-cigarettes and cigars, growing in popularity among teens, and banned sales to anyone under age 18 in hopes of sparing a new generation from nicotine addiction. The Food and Drug Administration's action brought regulation of e-cigarettes,...

  • *India's top court grants no stay on tobacco packaging rules. NEW DELHI, May 4- India's top court told tobacco companies on Wednesday they must adhere to a new federal rule requiring much larger health warnings on cigarette packs, in a major setback for the $11 billion industry that opposes the new policy. The Supreme Court turned down a plea to stay implementation...