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Cigarette maker Lorillard 1Q profit rises

admin — Thu, 28 Apr 2011 04:51:35 +0000

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 ... Jump to full article >>

Violent criminals expand into cigarettes

admin — Mon, 18 Apr 2011 06:55:21 +0000

WASHINGTON — A recent wave of state tobacco tax increases, designed to pump revenue into cash-strapped local governments, is inspiring an increasingly dangerous cigarette smuggling industry where big profits lure violent criminal gangs and drug traffickers into the booming illegal market, according to law enforcement officials and court records. Larry Penninger, acting director of the tobacco diversion unit of teh Bureau of Alc ... Jump to full article >>

British American Tobacco Creates Start-Up

admin — Tue, 05 Apr 2011 07:12:27 +0000

Tobacco giant British American Tobacco PLC is creating a start-up company to develop nicotine-based products aimed at smokers seeking a safer alternative to cigarettes. The unit, called Nicoventures Ltd., intends to bring to market “innovative, regulatory-approved” products, according to a website for the start-up. The site says the products Nicoventures is looking at aren’t currently available on the market. Th ... Jump to full article >>

Pricey cigarettes mean fewer teens smoke

admin — Fri, 01 Apr 2011 06:19:58 +0000

Australia seems to have found ways to cut back on teen smoking, researchers from there report. Higher taxes on cigarettes, expanded no-smoking rules, and well-funded tobacco control programs all helped lower rates of smoking among teenagers during the study. “What this really shows is that we know ways to reduce smoking among youth,” Dr. Michael Siegel from the Boston University School of Public Health told Reuters H ... Jump to full article >>

Tobacco industry calls for plain packaging of cigarettes

admin — Tue, 29 Mar 2011 06:48:45 +0000

A major tobacco-industry funded advertising blitz has backfired, with new research revealing the “It won’t work, so why do it” campaign persuaded more people to support the plain packaging of cigarettes than oppose it. The Cancer Council Victoria survey of 2,101 Victorians who recalled the ad campaign found has found that more than eight out of ten (86.2%) respondents said the ad didn’t affect their view o ... Jump to full article >>

Police seize smokes in tobacco road haul

admin — Fri, 25 Mar 2011 10:05:01 +0000

ALLEGEDLY stolen tobacco leaf and cigarettes with a value of $50,000 have been found in a car stopped by police in southern New South Wales. Police pulled over the Holden Commodore Holden Commodore on the Hume Highway about 45km north of Goulburn just after 6pm (AEDT) yesterday. Inside were 23kg of compressed tobacco leaf, 70,000 cigarettes, and almost $8000 in Australian and US currency, police say. The tobacco leaf and cigarett ... Jump to full article >>

Closing the last-chance saloon

admin — Tue, 15 Mar 2011 08:37:08 +0000

The retail display of cigarettes in a shop, with the packs often arrayed on shelves right behind the counter, is the last bastion of visual marketing, once, as is the case in many countries, media advertising is banned or severely restricted. Iceland was the first country in the world to implement a display ban, in August 2001. Tobacco products are kept in drawers or under the counter. Ireland was the first country in the EU to b ... Jump to full article >>

Idaho considers taxing reservation cigarette sales

admin — Thu, 24 Feb 2011 08:13:12 +0000

BOISE, Idaho (AP) — Relationships among Idaho’s five recognized Indian tribes and descendants of white settlers who settled the state are once again the focus at the 2011 Legislature, with Republican lawmakers starting a push to tax cigarettes sold on Indian reservations — over tribal objections. House Speaker Lawerence Denney, R-Midvale, said Wednesday his bill will help prevent Idaho residents from traveling to reserv ... Jump to full article >>

Thailand appeals WTO ruling on cigar case vs Philippines

admin — Thu, 24 Feb 2011 07:57:14 +0000

MANILA, Philippines – Thailand has filed for partial appeal on Tuesday over the WTO panel ruling which found the country guilty of violating customs valuation agreement and transparency rules by charging Philippine cigarettes higher taxes its locally manufactured cigarettes and was ordered to conform with the rules of the multilateral trading body. Philippine Ambassador to Geneva/WTO Ambassador Manuel AJ Teehankee in an email m ... Jump to full article >>

Cigarettes the most taxed business

admin — Thu, 17 Feb 2011 08:11:28 +0000

The cigarette manufacturing industry is the only sector in the economy covered by a law that forces increases in the excise tax every two years from 2009 to 2013. Figures obtained from the Bureau of Internal Revenue show that the increases did not exactly produce the expected revenues commensurate in amounts to the rate of the taxes. This is so, according to industry leaders, because every time a new higher rate is imposed, there ... Jump to full article >>