Rising home prices and conservative borrowing have today's homeowners sitting on a record amount of potential cash. Today's mortgage holders saw their home equity increase by...Real Estateread more
SoftBank wants to push Neumann out of the CEO role ahead of the IPO.Technologyread more
The Mac Pro is the only major Apple computer to be assembled in the United States. Most of Apple's products, including the iPhone, are assembled in China and are facing tariff...Technologyread more
CNBC's Jim Cramer calls on investors to be wary of the slew of hyped-up unicorn companies going public this year and encourages the focus to be on deliverable earnings.Investingread more
Toys R Us' bankruptcy caused a 7% surge in sales for the toy industry during the first half of 2018 as parents stocked up, then sales fell 2% as manufacturers experienced...Retailread more
The UK's Civil Aviation Authority said Thomas Cook had now ceased trading and the regulator would work with the government to bring the more than 150,000 British customers...Europe Marketsread more
The RNC paid $166,390 in August to the office of Mintz Levin for "legal and compliance services," according to a disclosure filing.Politicsread more
Trump has called Chairman Jerome Powell "clueless" and Fed officials "boneheads."The Fedread more
Trump's call with the foreign leader is reportedly the subject of a whistleblower's complaint that has spurred new accusations of wrongdoing from Democrats.Politicsread more
The solider, Jarrett William Smith, 24, of Fort Riley, Kansas, was charged with one count of distributing information related to explosives and weapons of mass destruction,...Politicsread more
Harvard economist N. Gregory Mankiw says ultra-wealthy couples could split their fortunes in half through divorce and avoid paying a wealth tax proposed by presidential...Wealthread more
years@ (Adds background on teenage tobacco use in the U.S.)
April 23 (Reuters) - Drugstore retailers Walgreens Boots Alliance Inc and Rite Aid Corp will no longer sell tobacco products to customers who are below 21 years old, amid a crackdown on widespread teenage tobacco use.
U.S. Senate Majority leader Mitch McConnell last week disclosed plans to introduce legislation to raise the minimum age for buying tobacco products, including vaping devices, to 21 from 18..
McConnell's proposal comes as states and cities across the United States have moved to raise the legal age for purchasing tobacco in an effort to prevent addiction at young ages.
So far 12 states have enacted laws to raise the minimum age to 21, including New Jersey and California. Lawmakers in New York state and Maryland have also approved legislation.
Walgreens, which announced the change earlier in the day, said the new policy will require customers to be at least 21 years old in order to purchase tobacco products in its stores and will be effective from September. The company operates 9,560 drugstores across the country and has been warned by the U.S. Food and Drug Administration for flouting tobacco sale rules by selling tobacco products to minors.
Preliminary federal data showed that teenage e-cigarettes use had surged by more than 75 percent since last year, which the FDA described as an "epidemic."
In November, the FDA proposed a ban on the sale of fruit- and candy-flavored electronic cigarettes in convenience stores and gas stations. The FDA also proposed stricter age-verification requirements for online sales of e-cigarettes.
Rite Aid, which had previously announced it will remove e-cigarettes and vaping products chainwide, said the new policy would come into effect across all its stores within 90 days.
The company will continue to enforce its chainwide policy that requires identification to purchase age-restricted items, including tobacco products.
(Reporting by Manojna Maddipatla and Aakash Jagadeesh Babu in Bengaluru; Editing by Shinjini Ganguli and Sriraj Kalluvila)