Category: Tobacco industry news

UC system banning smoking from all campuses

The University of California is banning cigarettes and all other tobacco products from its campuses over the next two years, in a move designed to both protect nonsmokers from secondhand smoke and prevent young people from developing the bad habit. Students and staff alike will be prohibited from smoking anywhere on a UC campus – including outdoor spaces, parking lots and private residences. There won’t be any designated smoking area ... Jump to full article >>

Recent Veterans in College Engage in Riskier Health Behaviors

College students who have served in the U.S. conflicts in Iraq and Afghanistan are more likely than their non-veteran peers to use tobacco, drink in excess and engage in other behaviors that endanger their health and safety, according to a study that appeared in the latest issue of American Journal of Health Promotion. “We also found some protective behaviors where veterans showed particular strengths,” said lead author Rachel Widome, Ph.D., ... Jump to full article >>

Tobacco machine ban ‘another blow’

Since Saturday, the new law has made it an offence for pubs and clubs to sell tobacco products through vending machines, which is to prevent children from smoking. While some landlords have agreed this will deter many young people from smoking, they also say the measure will put people out of work. Harry Cheeseright, of The Old Farmhouse, in Trendlewood Way, Nailsea, said: “The people who supply these machines will probably go out of business ... Jump to full article >>

Lorillard CEO: No need to venture beyond cigs

RICHMOND, Va. — Lorillard Inc. CEO Murray Kessler says there’s no immediate need for the cigarette maker to venture into other forms of tobacco like its competitors. In an investor presentation on Wednesday in New York, Kessler said the nation’s third-largest cigarette maker will continue to focus on its core business. Its flagship Newport brand holds about 35 percent of the menthol cigarette market and about 10 percent of the ... Jump to full article >>

Cigarette maker Lorillard 1Q profit rises

Cigarette maker Lorillard says its net income increased 7 percent in the first quarter as it sold more Newport and Maverick cigarettes at higher prices. Lorillard says it earned $248 million, or $1.71 per share, for the period ended March 31. That’s up from $232 million, or $1.50 per share, a year ago. The per-share figure was boosted by a lower number of shares outstanding. The nation’s third-biggest tobacco company says revenue exc ... Jump to full article >>

Lawmakers advance measure to negotiate tobacco payments with tribes

A legislative bill calling for the state to negotiate with Native American tribes to make payments on cigarette sales so Nebraska can continue to receive millions of dollars through a national tobacco settlement got first-round approval Wednesday. Senators voted 38-0 to advance the measure, which faces two more rounds of consideration. Since 2003, the state has received $280 million to $300 million from the four largest tobacco companies as part ... Jump to full article >>

Bulgaria to sell stake in state-controlled tobacco company

Sofia – The Bulgarian privatization agency said Tuesday that it is putting up for sale the country’s remaining stake in cigarette manufacturer Bulgartabak Holding. The government holds 79.83 per cent of Bulgartabak, with the rest already privatized. Prime Minister Boyko Borisov’s cabinet declared the sale of the majority stake one of its priorities for 2011. Over the years, giants Philip Morris, Japan Tobacco and the Korean KT ... Jump to full article >>

Tobacco Net Gets Price Kick

U.S. tobacco companies’ first quarter earnings are getting a boost from recent price increases but the year’s outlook remains mixed as domestic sales volumes shrink due to state laws banning indoor smoking and the graying of core customers. On Thursday, Philip Morris International Inc., the world’s largest tobacco company by revenue, posted a 13% profit increase on higher prices and gains in Asian markets. Reynolds American In ... Jump to full article >>

AG: State Collects About $100M In Tobacco Settlement

Attorney General Jack Conway announced Wednesday that Kentucky, as required under the 1998 Master Settlement Agreement (MSA) between the major tobacco manufacturers and 52 states and territories, received its annual payment of nearly $100 million in tobacco settlement money this week. “The money Kentucky receives each year from the MSA provides funding for many invaluable programs -from agriculture to education,” Conway said. “ ... Jump to full article >>

Plain packaging will hit sales hard, and big tobacco is worried

So, the move to cigarette plain packaging will do nothing to reduce the rate of smoking, but it will be a pain in the proverbial for shopkeepers. I’m told this at least once an hour on talk radio, so it must be true. But things aren’t always what they appear to be. I know this as a reformed tobacco executive. I was employed by Rothmans of Pall Mall from 1994 to 1998 in Queensland, NSW and Victoria in charge of about $250 million in a ... Jump to full article >>