Tobacco and cigarette companies are often touted as recession-resistant businesses. Cigarettes and other tobacco product sales often increase when consumers are forced to cut food budgets. Despite the known realities as to the negative health consequences associated with tobacco, nicotine is also known to calm the nerves during stressful situations, curb one’s hunger and act as a stimulant. Read more
“We think profits for PM in Indonesia can quadruple by the year 2020, so to us, this stock has a lot more room on the upside in the next three to five years,” she said. “It should be a core holding in your portfolio.”
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“Trust money shouldn’t help boost bill’s chances” (Our Views, March 7), taking the Tobacco Settlement Endowment Trust (TSET) to task for advertising in favor of House Bill 2267, was off the mark. TSET doesn’t get, manage or spend taxpayer funds. All of its income comes from the annual payments from the tobacco industry to the state of Oklahoma, 75 percent of which goes directly to the trust, with the 25 percent balance going to the general fund. Those payments generate interest and earnings. This was accomplished by a constitutional amendment adopted by a landslide majority vote in 2000. Ream more »
Judge Richard Leon of the U.S. District Court for the District of Columbia sided with tobacco companies that argued the government was violating their constitutional rights to free speech by requiring them to display the labels—including images of a body on an autopsy table and diseased lungs.
The summary judgment follows a preliminary ruling in November. At that time, Judge Leon issued a temporary injunction, adding that tobacco companies had demonstrated “a substantial likelihood” of winning the case on constitutional grounds. Ream more »
Susie Coleman, who was at the store Monday morning, said new management wasn’t concerned about the previous news coming from the Hudson Crossing shopping center at S.E. 17th and Adams, where the store is located, in recent months.
“We’re trying to stay away from the negativity,” Coleman said.
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For a third time, Koster is asking the legislature to repeal a flaw in the state’s tobacco escrow statute, writing to each member of the Legislature on Jan. 25. Koster says a state law related to the 1998 Tobacco Master Settlement Agreement allows companies that pay concentrate their sales in Missouri to recover almost the entire amount they put into an escrow fund designed to help with medical costs caused by smoking. Ream more »
LEGISLATION to curb smoking by imposing a ban on tobacco displays in shops came a step closer yesterday after an appeal against the proposals by one of the world’s biggest tobacco companies was rejected by judges.
Imperial Tobacco went to court to challenge the provisions of the Tobacco and Primary Medical (Scotland) Act 2010 on the grounds that the matter was reserved to Westminster and outwith the legislative scope of Holyrood. Ream more »
Imperial Tobacco has held firm as the number one business in Insider’s Top 500 – the annual ranking of South West companies based on turnover and profitability. With massive revenues of £28.2bn and a pre-tax profit of more than £2bn, the Bristol-headquartered tobacco giant was comfortably clear of second place: financial services company Nationwide.
Imperial Tobacco recently had its £112.3m fine for allegedly restricting competition quashed in December. It said it had reversed the Office of Fair Trading ruling adding that the company has “always rejected the Office of Fair Trading’s suggestion that (it) acted anti-competitively or in any way contrary to the interests of consumers”. Ream more »
The OFT is in hangover mode after a year blighted by the Competition Appeal Tribunal (CAT). Any hope it had of restoring its reputation faded in December after its price-fixing case against tobacco manufacturers and retailers fell apart.
In March 2011 the Government unveiled plans to merge the Competition Commission and OFT to create the Competition and Markets Authority (CMA) (The Lawyer, 16 March 2011). The consultation closed in June and a working group is currently considering the way forward.
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It already is challenging the laws under Australia’s bilateral trade treaty with Hong Kong and is seeking damages. Philip Morris is the third tobacco company to lodge a case in the High Court against the new laws.
British American Tobacco and Imperial Tobacco already have launched their own challenges to the legislation.
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