Monday, May 6, 7:35 AM
Cuba files a legal challenge with the WTO over tobacco packaging laws passed last year in Australia. The nation's first foray into WTO litigation follows similar actions by Ukraine, Honduras and Dominican Republic over the restrictive marketing polices set by Australia for the tobacco industry. Legal squabbling in the WTO can last for years, which could help sellers such as Imperial Tobacco (ITYBY.PK), British American Tobacco (BTI), Reynolds American (RAI), Lorillard (LO), Altria (MO), and Philip Morris (PM) from seeing the plain-packaging laws hop around the globe.
3 Comments[Consumer, Global & FX]
Wednesday, March 6, 10:04 AM
Tobacco stocks struggle after the U.K. is reported to be looking at adopting packaging laws similar to the measures Australia instituted last year. In London, Imperial Tobacco (ITYBY.PK) and British American Tobacco (BTI -1.5%) started the day off weak, while stateside Reynolds American (RAI -2.1%), Lorillard (LO -0.8%) and Altria (MO -0.1%) are underperforming.
7 Comments[Consumer, Global & FX, On the Move]
Wednesday, March 6, 7:26 AM
Shares of Imperial Tobacco (ITYBY.PK) slip 3% in London trading after reports emerge of a U.K. plan to require plan cigarette packaging. Legislation to introduce a law on plain packaging could be announced as soon as this May.
Comment![Global & FX, Consumer, On the Move]
Tuesday, January 22, 1:36 PM
It's going to keep getting harder to find a cigarette in 2013 if the state legislatures across the country get their way. Higher cigarette taxes are on the docket in a number of states with traditionally high numbers of smokers. Minnesota in particular, where nearly 16% of the population still smokes, the governor is seeking to boost the state cigarette tax rate to a new rate of $2.83 per pack, a move which is being lauded across the board by anti-smoking advocates.
23 Comments[Healthcare, Consumer, U.S. Economy]
Wednesday, July 4, 2012, 4:57 AM
Moody's has a positive outlook on European tobacco companies for the next 12-18 months, when the agency expects operating profits to grow 6%. Emerging-market growth and price inelasticity will continue to provide good cash flow and offset "declining sales volumes in mature markets and mounting regulatory pressures." (PR)
2 Comments[Consumer, Quick Ideas]
Thursday, March 1, 2012, 6:36 AM
A federal judge yesterday confirmed a preliminary injunction blocking the FDA from forcing tobacco companies to put gruesome health warnings on cigarette packaging, including a corpse and cancerous lungs. "These mandatory graphic images violate the First Amendment by unconstitutionally compelling speech," the judge explained.