The European Union’s commissioner for health and consumer policy, John Dalli, resigned with immediate effect Tuesday following an investigation by OLAF, the EU’s antifraud office, into a complaint made in May by tobacco producer Swedish Match SWMA.SK +0.85% AB.
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The Norfolk Pension Fund, which has more than 66,000 members and covers Norfolk County Council workers and 134 other employers, including Norwich City Council, has a total exposure to the tobacco sector of £44m.
While that is only a small amount of the £2.1bn assets of the fund, the fact the county council will, from next April, take on responsibility for public health, including encouraging people to quit smoking, has sparked a debate over whether it should invest in tobacco firms. Ream more »
Approximately 340 young people die each year as a result of smoking. While it is a sad reality, the truth is that today’s adolescents are being bombarded with images of smokers being portrayed in a glamorous light. Our youth are seeing these images, particularly in movies, and are beginning to see cigarettes in a more positive manner, falling prey to the trap set by Big Tobacco companies.
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The WHO Framework Convention on Tobacco Control was the first international public health treaty initiated by the World Health Organization; it came into force in 2005 and thus far 176 countries (see below for the latest) have become parties to it. Ream more »
Imperial Tobacco says introducing plain packaging on cigarettes will make it much easier for criminals to introduce black market cigarettes.
The Government has agreed in principle to remove branding from packets, but will consult the public first.
Imperial Tobacco spokesperson Brendan Walker told Radio New Zealand’s Nine to Noon programme on Friday that plain packaging is unjustified and unnecessary. Ream more »
It’s world no tobacco day and CNN-IBN has accessed an RTI query that shows government-run firms have invested in companies like ITC and VST that depend primarily on tobacco for profits.
This is in violation of an international treaty India signed in 2004. Anti-tobacco groups are questioning the nexus between government and tobacco majors. Ream more »
Japan Tobacco Inc. (2914), Asia’s largest listed cigarette maker by market value, forecast this year’s annual profit below analysts’ estimates.
Net income will probably be 318 billion yen for the year ending in March 2013, the Tokyo-based company said in a statement today. That was lower than the 341 billion yen average of eight analyst estimates compiled by Bloomberg. Sales are expected to reach 2.12 trillion yen, said the company. Ream more »
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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