A gang of bootleggers were jailed after their moonshine vodka and tobacco business dodged more than £10million in tax.
Their vodka factory in Dalston, east London, staffed by a Polish workforce, was so successful – churning out 24 bottles a minute – they set up a tobacco farm in Enfield, north London, which could produce 100 pouches of counterfeit Golden Virginia in a minute. Ream more »
The US government was appealing against a lower court ruling that it could not take $280bn (£185bn) of tobacco firms’ profits to help people quit smoking.
The court also rejected an appeal by the tobacco industry against a ruling that it had violated racketeering laws.
Tobacco shares rose on news of the first ruling.
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U.S. investors normally only have two choices when picking up international exposure in individual stocks: ADRs (foreign companies listed on U.S. exchanges) or U.S.-based companies that do a bunch of business in foreign countries, like Coca-Cola. Coca-Cola does well over half its business outside the United States.
If you don’t mind investing in tobacco, Marlboro-maker Philip Morris International offers us a rare third option. Thanks to the 2008 break-up of Altria (NYSE: MO) (U.S. operations) and Philip Morris International (everywhere else), Ream more »
United Tobacco, known for their 601, Cubao and Murcielago cigar line, have sold a 50 percent stake to Rocky Patel Premium Cigars. Partnership with Rocky Patel means the United Tobacco cigars will be sold, distributed and marketed by the Rocky Patel channels and the company name has been changed to EO Brands. Read more
After having worked in Russia for the past 10 years, Jonathan Varnell has moved to Turkey a year ago. The very first thing that made Varnell happy about his decision to move seems to be the weather. “It is the first time in ten years I have not seen snow,” he says. He is also seems happy to have find a business environment similar to that in the United States, especially after his experience in Russia. Read more
Colin Yarmie pulls the little spout from its water-filled growing tray and gestures toward the thousands of other tobacco plants crammed into two steamy greenhouses on his family farm. By the end of May, Mr. Yarmie says, all will be planted in nearby fields, filling 90 acres (36.4 hectares) with Canada’s most controversial cash crop. Read more
The U.S. Food and Drug Administration rejected a request by cigarette giant Philip Morris USA to remove four members of a key tobacco-products advisory panel that the company said had extensive conflicts of interest. Read more
Japan Tobacco Inc. (2914.TO) Wednesday said it swung into a net profit in its fiscal fourth quarter, but it expects a tough year ahead as it hikes prices to absorb a looming government-mandated tobacco tax hike. Read more