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A multi-agency coalition of law enforcement agents will begin tackling the unruly market of illegal e-cigarettes, under pressure from antismoking groups, lawmakers and the tobacco industry urging federal authorities to stop the flood of vaping devices favored by adolescents. The Justice Department announced the new effort, which is expected to target fruit- and candy-flavored vapes containing high levels of addictive nicotine. The new coalition would include the Bureau of Alcohol, Tobacco, Firearms and Explosives; the U.S. Postal Service, tapping into federal laws that could include significant fines and jail terms. “Unauthorized e-cigarettes and vaping products continue to jeopardize the health of Americans — particularly children and adolescents — across the country,” Benjamin C. Mizer, the acting associate attorney general, said.
Persons: , ” Benjamin C Organizations: Justice Department, Alcohol, Tobacco, Firearms, Explosives, U.S . Marshals Service, Federal Trade Commission, U.S . Postal Service, Food and Drug Administration
“The great wealth transfer is gaining significant momentum as many billionaire entrepreneurs age,” Benjamin Cavalli, who oversees strategic clients in the global wealth management unit at UBS, told reporters. Their combined wealth rose 9% to $12 trillion, before taking inflation into account. Arnault is the world’s third-richest man, with a net worth of $167 billion, according to the Bloomberg Billionaires Index. Risks and opportunity for UBSThe “staggering” transfer of wealth to younger generations presents a huge opportunity for UBS, but also poses considerable risks, according to Cavalli. Heirs lean more toward impact investing — that is, socially or environmentally beneficial investing — over “classic grant-giving philanthropy,” Cavalli said.
Persons: , ” Benjamin Cavalli, LVMH's Bernard Arnault, Helene, Frederic, Delphine, Antoine, Alexandre, Bernard Arnault, Arnault, Tesla’s Elon Musk, Jeff Bezos —, , India’s Gautam Adani, Mukesh Ambani, Cavalli, , Morgan Stanley —, Stefan Wermuth, ” Cavalli, Charlie Munger, Henry E Organizations: London CNN, UBS, Bloomberg, Adani Group, Reliance Industries, Suisse, Getty, , Berkshire Hathaway, Huntington Library, Art Locations: Paris, Europe, France
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