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☆ Formerly Philip Morris-backed foundation severs ties with nicotine industry
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 27 (Reuters) - A research foundation originally set up by Philip Morris International (PMI) (PM.N) will no longer accept any funding from the nicotine industry as it seeks to win credibility with tobacco control advocates, its CEO said. The foundation will now rebrand and find new funders from outside of the industry, Cliff Douglas said in an interview. Douglas, a long-time tobacco control advocate who joined the foundation in October, said he wants to see it re-established as a credible actor in ending smoking. Douglas pointed to a number of tobacco control advocates who have sounded positive about the foundation's new direction. The World Health Organisation says vapes, for example, are harmful to health.

Persons: Philip Morris, Cliff Douglas, Douglas, Deborah Arnott, Yolonda Richardson, Emma Rumney, Kirsten Donovan Organizations: Philip Morris International, PMI, Campaign, Tobacco, World Health, Thomson

☆ Cramer's lightning round: Archer Aviation is 'way too speculative for me'
▼ + stars: | 2023-11-16 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon SolarEdge's year-to-date stock performance. Stock Chart Icon Stock chart icon Arbor Realty's year-to-date stock performance. Stock Chart Icon Stock chart icon Liberty Media's year-to-date stock performance. Stock Chart Icon Stock chart icon Square-parent Block's year-to-date stock performance. Stock Chart Icon Stock chart icon Becton Dickinson's year-to-date stock performance.

Persons: Archer Aviation's, I've, Arbor, We're, Philip Morris International's, Philip Morris, Becton, Becton Dickinson Organizations: Archer Aviation, SolarEdge Technologies, Arbor Realty Trust, Liberty, Philip Morris International

☆ Wall Street is asking how weight-loss drugs will affect consumer giants — but it may be too early to tell
▼ + stars: | 2023-11-06 | by ( Angelica Peebles | In Angelicapeebles | ) www.cnbc.com time to read: +1 min

Photographer: Caitlin O'Hara/Bloomberg via Getty ImagesIf you listen to third-quarter corporate earnings calls, it might seem like everyone is taking weight-loss drugs. Delta Air Lines , PepsiCo , Philip Morris International and Darden Restaurants are just some of the companies that faced questions from analysts about how the drugs are affecting their bottom lines. While some analysts are making sweeping claims about how obesity drugs will reshape the industries they cover, the medicines are still in the early days. Known as GLP-1s, the drugs were first approved for diabetes and are now also being used for obesity. But even so, only a sliver of eligible people are actually taking the drugs at this point, said Goldman Sachs analyst Chris Shibutani.

Persons: Caitlin O'Hara, Philip Morris, it's, Nestle –, It's, Wegovy, Goldman Sachs, Chris Shibutani Organizations: PepsiCo Inc, Bloomberg, Getty, Delta Air Lines, PepsiCo, Philip, Philip Morris International, Darden, Hershey, Conagra, Nestle, Novo Nordisk Locations: Phoenix , Arizona, U.S, Novo

☆ Philip Morris lifts profit forecast on higher pricing, ZYN growth
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 19 (Reuters) - Philip Morris International (PMI) on Thursday raised its annual profit forecast as its third quarter earnings beat expectations thanks to higher cigarette prices, demand for its heated tobacco products, and rapid growth of its oral nicotine product ZYN. PMI's core smoke-free tobacco product, however, is its IQOS heated tobacco device and the tobacco sticks used with it. The company said heated tobacco shipment volumes had increased 18% during the quarter, but its full-year forecast assumed these would be lower than previously expected. It said this was due to a delayed market launch in Taiwan, limited growth in Russia and Ukraine and inventory uncertainty in Europe amid incoming regulations on heated tobacco flavours. PMI also tempered its revenue expectations for the full year.

Persons: Philip Morris, Dado Ruvic, ZYN, Jacek Olczak, IQOS, Juveria Tabassum, Emma Rumney, Chizu Nomiyama, Kirsten Donovan Organizations: Philip Morris International, REUTERS, Swedish, PMI, Thomson Locations: Taiwan, Russia, Ukraine

☆ Marlboro maker Philip Morris reports revenue miss, but strong sales of cigarette alternatives
▼ + stars: | 2023-10-19 | by ( Stefan Sykes | ) www.cnbc.com time to read: +2 min

Philip Morris International Inc. Marlboro brand cigarettes are arranged for a photograph in Shelbyville, Kentucky, U.S., on Friday, Oct. 2, 2015. Philip Morris International on Thursday reported quarterly earnings that topped Wall Street's expectations but revenue that missed estimates, as sales for its heated tobacco and oral nicotine products remain strong. For the quarter ended September 30, Philip Morris posted revenue of $9.14 billion, compared to year-ago revenue of $8.03 billion, a 13.8% increase. He cited IQOS, its line of heated tobacco products, and its Zyn oral nicotine pouch as growth drivers. Zyn nicotine pouches are tobacco-free oral products touted by the company as a cleaner, more discreet way to consume nicotine.

Persons: Philip Morris, Jacek Olczak, Olczak, Zyn Organizations: Philip Morris International Inc, Marlboro, Philip Morris International, LSEG, Swedish Locations: Shelbyville , Kentucky, U.S

☆ Big Tobacco turns to rooibos tea to counter upcoming ban
▼ + stars: | 2023-10-16 | by ( Emma Rumney | ) www.reuters.com time to read: +5 min

Tobacco companies have yet to publish any research showing the health implications of rooibos or other zero-tobacco sticks, Simonavicius added. PMI (PM.N) CEO Jacek Olczak told shareholders that its zero-tobacco sticks could avoid the regulatory scrutiny that tobacco products face. BAT's zero-tobacco sticks are not subject to current EU tobacco rules, the company told Reuters. That means it can sell rooibos sticks in flavours like peppermint and tropical fruit even after a ban on flavoured heated tobacco products is implemented across the bloc later this month. Across the European Union, heated tobacco products must be taxed at a minimum of 20% of the retail price, though national governments can go higher.

Persons: Erikas Simonavicius, Simonavicius, Philip Morris, Jacek Olczak, Jefferies, Owen Bennett, Bennett, Phil Gorham, Gorham, Fabienne, Morningstar's Gorham, Shabab, Emma Rumney, Matt Scuffham, Kirsten Donovan Organizations: Big Tobacco, British American Tobacco, Union, Tobacco, BAT, Reuters, King's College, King's College London . Tobacco, Philip Morris International, PMI, Rivals Imperial Brands, Japan Tobacco International, Morningstar, EU, Dunhill, Lucky, European Union, University College London . Tobacco, Thomson Locations: Cape, Germany, Greece, King's College London

☆ Take Five: War and peace of mind
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +5 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. U.S. retail sales increased more than expected in August as a surge in gasoline prices boosted receipts at service stations. Bar chart with data from LSEG I/B/E/S show the projected year-over-year growth in Q3 2023 earnings of S&P 500 industries. There have been reports the government is looking to increase its budget deficit to meet this year's 5% growth target. That said, inflation is still over three times the BoE's 2% target and growth isn't exactly stellar.

Persons: Brendan McDermid, Kevin Buckland, Lewis Krauskopf, Naomi Rovnick, Karin Strohecker, Amanda Cooper, Goldman Sachs, Johnson, Philip Morris, It's, Banks, Amundi, BoE, it's, Sumanta Sen, Prinz Magtulis, Vineet, Pasit, Jayaram, Mark Potter Organizations: New York Stock Exchange, REUTERS, Hamas, Bank of America, Johnson, Netflix, Philip Morris International, Investors, HK, Law, Justice, Reuters, The Bank of England, Thomson Locations: New York City, U.S, Israel, Palestinian, China, Britain, Tokyo, New York, London, LSEG, Beijing, Europe's, Brussels, Europe

☆ Regional banks are in focus in the week ahead as third-quarter earnings season ramps up
▼ + stars: | 2023-10-13 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

Regional banks will be in focus in the week ahead as traders head into the thick of third-quarter earnings season. Regional bank earnings are also expected to be a weak point this season. But a closer look into the sector's sub-industries showed that regional banks are anticipated to have tumbled by 15% last quarter. Traders parsing through regional bank earnings will pay special attention to signs of narrowing net interest margins (NIM). Earnings season underway Many investors anticipate that the third-quarter earnings season will be alright.

Persons: Wells, Kumar, FactSet's John Butters, NIM, They'll, JPMorgan Chase, Jamie Dimon, Goldman Sachs, Morgan Stanley, FactSet's Butters, Nancy Tengler, Lauren Goodwin, we'll, Goodwin, Charles Schwab, Lockheed Martin, Goldman, Zions, Kinder Morgan, Lam, McLennan, Philip Morris, Huntington Bancshares, —, Jesse Pound Organizations: Citigroup, JPMorgan Chase, Sri, Kumar, Silicon Valley Bank, Regional Banking, Dow Jones Industrial, JPMorgan, Hamas, Northern Trust, U.S . Bancorp, T Bank, Citizens Financial, Bank of America, Federal Reserve, Companies, Investments, New York Life Investments, Index, Johnson, Bank of New York Mellon, Goldman Sachs Group, Hunt Transport Services, Omnicom, United Airlines Wednesday, Housing, Elevance, Citizens Financial Group, Procter, Gamble, Abbott Laboratories, Discover Financial Services, Las Vegas Sands, PPG Industries, Steel Dynamics, Tesla, Netflix, Lam Research, Philadelphia Fed, Truist, Alaska Air Group, Fifth Third Bancorp, American Airlines Group, Marsh, Philip Morris International, Union, CSX, Comerica, Regions Financial, American Express, Interpublic, Cos Locations: Wells Fargo, Silicon, Ukraine, Israel, J.B, Las Vegas, Philadelphia, Truist Financial, Union Pacific, Freeport, Huntington

☆ Investors want to know when Philip Morris' smoke-free shift will pay off
▼ + stars: | 2023-09-26 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +6 min

Anticipation should be building as Philip Morris prepares to bring iQOS back to the U.S. market. Philip Morris had partnered with Altria when iQOS was first launched in a handful of U.S. markets in 2019. Eventually, Philip Morris agreed to buy back the commercialization rights from Altria, and that deal is effective April 30, 2024. And this strategy is partly why, Herzog said, Philip Morris is one of Goldman's top picks. Last week, Philip Morris CEO Jacek Olczak spoke on X via ReutersPlus about its harm reduction efforts.

Persons: Philip, Goldman Sachs, Bonnie Herzog, Philip Morris, iQOS, Herzog, mgmt, Gaurav Jain, Jain, FactSet, Jacek Olczak, Jefferies, Owen Bennett, Bennett Organizations: Philip Morris International, Drug Administration, Altria, Barclays, Swedish Match, Bank of America, Rogue, Street Journal, Concordia, United Nations General Assembly Locations: U.S, Altria, New York

☆ Philip Morris considers selling stake in pharmaceuticals unit to boost healthcare division
▼ + stars: | 2023-09-20 | by ( Stefan Sykes | ) www.cnbc.com time to read: +2 min

Philip Morris International is considering selling off a stake in its largest pharmaceuticals unit. But more recently the division has struggled, and Philip Morris has had talks with Deutsche Bank on a range of options to try to grow its wellness and healthcare division, the WSJ first reported. In recent years, Philip Morris has also acquired Fertin Pharma, a nicotine gum maker, and OtiTopic, a respiratory drug maker. And, in the second quarter of this year, the company took a $680 million impairment charge related to its wellness and healthcare division. The news comes as the tobacco company continues to face resistance from public health groups.

Persons: Philip Morris, it's, Concordia, Philip Morris's Organizations: Philip Morris International, Marlboro, Deutsche Bank, WSJ, Fertin Pharma, PMI, Concordia, UN, Assembly Locations: New York

☆ Companies Might Be Forced to Report Their Impact on Nature. A New Framework Aims to Help.
▼ + stars: | 2023-09-19 | by ( Joshua Kirby | ) www.wsj.com time to read: +6 min

New nature-reporting recommendations aim to help companies assess their impact on and risks from the world’s natural systems. This is despite growing awareness of the catastrophic effects of biodiversity loss, Capgemini said in a report, based on a survey of executives of large organizations from major economies. The TNFD recommendations are currently voluntary, but come as regulation tightens around degradation of the natural world. Separately, in the EU, many companies are already facing obligations to report their impact on nature under the bloc’s Corporate Sustainability Reporting Directive. “We recognize that nature loss poses both risks and opportunities for business, now and in the future,” said Jennifer Motles, PMI’s chief sustainability officer.

Persons: ”, Elizabeth Mrema, David Craig, TNFD’s, “, Capgemini, Aurélie, Philip Morris, Jennifer Motles, laurent gillieron, Gillon, Gucci, Zoe Balmforth, ” Balmforth, Joshua Kirby, joshua.kirby@wsj.com Organizations: Sustainable Business, United Nations, Force, Economic, World Bank, EU, Philip Morris International, European Union, Unilever Locations: “, France, Montreal, Canada, Switzerland, ”

☆ British American Tobacco finalizes Russia exit with sale to local managers
▼ + stars: | 2023-09-07 | by ( Stefan Sykes | ) www.cnbc.com time to read: +1 min

British American Tobacco has finalized its exit from Russia about 18 months after it pledged to do so in the wake of Moscow's invasion of Ukraine. However, other global tobacco giants are still doing business in the country, including Japan Tobacco International and Philip Morris International . London-based BAT is a key player in the global tobacco market with business operations in more than 100 countries. It controlled nearly 25% of Russia's tobacco market, which is the fourth largest in the world, according to Reuters. The buyer is a consortium led by members of BAT Russia's management team, which will wholly own the Russian and Belarusian businesses, BAT said.

Persons: Philip Morris Organizations: British, Tobacco, BAT, Japan Tobacco International, Philip, Philip Morris International . London, Camel, Reuters, BAT Russia's, ITMS Locations: Russia, Ukraine, Belarus, Newport, Russian

☆ Morning Bid: Shedding pounds, buying dollars
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 29, 2023. Investors are also focusing on English football club Manchester United (MANU.N), whose shares fell 18% on Tuesday in their steepest one-day decline. Brent crude is above $90 a barrel after Saudi Arabia and Russia extended their voluntary supply cuts to the end of the year. Weakness in demand will be the focus of data today as Germany releases July manufacturing data and the euro zone shows us what retailers were doing in July. Not much, going by the share price of French luxury group LVMH (LVMH.PA), which was just dethroned from pole position in Europe's most-valuable list.

Persons: Vidya Ranganathan, Glazer, Sterling, Philip Morris, Brent, Edmund Klamann Organizations: REUTERS, Staff, Vidya, Investors, English, Manchester United, Unilever Capital Corp, Philip Morris International, Volkswagen, Labor, Canada BOC, Thomson Locations: Frankfurt, Germany, Danish, Saudi Arabia, Russia, Europe's, Poland, U.S, Canada

REUTERS/Florence Lo/Illustration Acquire Licensing RightsSept 5 (Reuters) - A post Labor-day rush of bond issuance by U.S. investment-grade-rated companies added renewed pressure on long-end U.S. Treasuries, as some investors switch to buying top-rated corporate debt offering higher yields than those on government bonds. Investors told Reuters they expect anywhere between $100 billion and $150 billion in new bond issuance this month. Ten-year Treasury bond yields were last about nine basis points above Friday's market closing, at 4.27% from 4.180%, and 30-year yields similarly climbed about 9 bps to 4.38% from 4.285% on Friday. Other factors have also contributed to the selloff, from higher government bond supply to rising concerns around U.S. debt sustainability, as highlighted by Fitch’s downgrade of U.S. debt last month. "For right now, it’s just all about supply, and I think that’s what’s pushing yields higher," he said.

Persons: Florence Lo, Gennadiy Goldberg, Tom di Galoma, it’s, Philip Morris, Matt Tracy, Davide Barbuscia Organizations: REUTERS, Labor, Financing, Investors, Reuters, Fed, ICE, TD Securities USA, Federal Reserve, JPMorgan Chase, Tuesday's, Unilever Capital Corp, Philip Morris International, Volkswagen, Thomson Locations: U.S

☆ Altria seeks US import ban on Juul e-vapor products
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

The move escalates a dispute between the two e-cigarette makers after Juul filed a similar patent infringement case against NJOY at the ITC in June. NJOY said in its filings that Juul products infringe two of its patents, and that it intends to obtain a ban on products including its currently marketed Juul device and Juul pods. NJOY also sued Juul in Delaware on Tuesday for infringing the same patents, seeking an unspecified amount of damages. Juul filed its own patent lawsuits against NJOY and Altria at the ITC and in Arizona federal court in June, seeking money damages and a ban on imports of NJOY's Ace vapor device. Altria won more than $95 million from cigarette rival R.J. Reynolds in North Carolina federal court last year after a jury found RJR infringed other Altria e-cigarette patents.

Persons: Elijah Nouvelage, NJOY, Juul, Altria, Reynolds, RJR, Philip Morris International's, Granth, Chris Kirkham, Blake Brittain, Krishna Chandra Eluri, Marguerita Choy Organizations: REUTERS, Altria, Juul Labs, U.S . International Trade Commission, ITC, NJOY Holdings, NJOY, RJR, Thomson Locations: Atlanta , Georgia, U.S, Marlboro, Juul, Delaware, Arizona, North Carolina, Bengaluru, Los Angeles, Washington

☆ ChatGPT helped a simulated study return up to 512% trading stocks based on news. Here's the prompt the researchers used — plus the positive and negative takeaways from their findings.
▼ + stars: | 2023-07-22 | by ( Laila Maidan | ) www.businessinsider.com time to read: +12 min

ChatGPT excelled at predicting a stock's price direction based on news sentiment. They found that while ChatGPT excelled at predicting a stock's direction based on news sentiment, it is not without limitations. They prompted ChatGPT to assign the following scores to headlines: "1" for good news, "0" for unknown and "-1" for bad news. Is this headline good or bad for the stock price of (company name) in the term (short or long-term)?" This meant negative news had a greater and longer impact in the real world than in the simulation,, likely giving ChatGPT an advantage, Lopez-Lira noted.

Persons: ChatGPT, Bard, Alejandro Lopez, Yuehua Tang, Merrill Lynch, Lopez, Lira, Tang, Russell, BERT, Philip Morris, Gene Tipps, David Capablanca, Alpesh Patel, Praefinium, Patel, Capablanca, GPT's, it's, Cory Mitchell, would've, Mitchell, you'll, they're Organizations: University of Florida, of Florida's Department, Finance, Lira, Center for Research, Linux, NYSE, Nasdaq, GPT, Design, Cadence Design, Philip Morris Beats, Global, Global Operations, Dow Locations: GPT

☆ Philip Morris beats profit estimates as cost pressures ease amid steady demand
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +1 min

July 20 (Reuters) - Philip Morris International (PM.N) on Thursday beat Wall Street expectations for quarterly profit, boosted by a let-up in soaring tobacco and labor costs and buoyant demand for its smokeless Zyn and IQOS products. The company has bet heavily on Zyn and IQOS products as younger customers are showing a preference for these "smoke-free" alternatives to traditional combustible cigarettes. Demand for higher-margin IQOS devices - that heat cigarettes, instead of lighting them - and Zyn nicotine pouches has helped protect margins for the tobacco giant. The company raised the lower-end of its full year profit forecast, and now expects earnings per share between $6.13 and $6.22, compared to its previous forecast of $6.10 and $6.22. The company's second-quarter adjusted profit per share of $1.60 beat analysts' average estimates of a profit of $1.47, as per Refinitiv data.

Persons: Philip Morris, Juveria, Pooja Desai Organizations: Philip Morris International, Thomson Locations: Bengaluru

☆ Philip Morris CEO Jacek Olczak on earnings beat: Driven by smoke-free product growth
▼ + stars: | 2023-07-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPhilip Morris CEO Jacek Olczak on earnings beat: Driven by smoke-free product growthJacek Olczak, Philip Morris International CEO, joins 'Squawk on the Street' to discuss the current environment for cigarettes, how far along the company is on the journey to being smoke-free, and the pricing environment between traditional tobacco products and smoke-free products.

Persons: Philip Morris, Jacek Olczak Organizations: Philip Morris International

☆ These are the 3 key things that will impact the stock market in the week ahead
▼ + stars: | 2023-07-15 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

A lot was riding on these important measures of inflation after the scorching-hot ADP jobs report last week. Here are 3 things you need to know for the week ahead: 1. Industrial production and capacity utilization, also out Tuesday, shines a light on manufacturing, which attributes about 12% to U.S. GDP. Six months is generally considered to represent a balance between supply and demand in the housing market. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, Morgan Stanley, Johnson, Jeff Miller, Lockheed Martin, Charles Schwab, JB Hunt, Goldman, Baker Hughes, Ally, Kinder Morgan, Zions, Philip Morris, Abbott, ABT, Jim Cramer's, Jim Cramer, Jim, Scott Olson Organizations: Nasdaq, Dow Jones Industrial, Housing, CPI, Halliburton, HAL, Johnson, of America Corp, Lockheed, Lockheed Martin Corp, Novartis International AG, PNC Financial Services Group, Inc, PNC, Charles Schwab Corp, Bank of New York Mellon Corporation, BK, Synchrony, Interactive, Goldman Sachs Group, U.S . Bancorp, ASML, Citizens Financial, T Bank Corp, Northern Trust Corporation, Horizon National Corp, Business Machines Corp, IBM, United Airlines, Netflix, Steel Dynamics, Alcoa, Discover Financial Services, Crown, International Corp, Equifax Inc, Las Vegas Sands Corp, Liberty Energy Inc, Philip Morris International Inc, Taiwan Semiconductor Manufacturing Company, American Airlines Group Inc, Travelers Companies, SAP, Nokia Corp, Truist Financial Corporation, Company, McLennan Companies, Infosys Technologies Ltd, Newmont Mining Corp, Fifth Third Bancorp, Pool Corporation, Alfa Laval, Webster Financial Corp, Blackstone, Financial Corp, PPG Industries, CSX Corp, CSX, Berkley Corp, Swift Transportation Holdings Inc, American Express Co, AutoNation Inc, Interpublic, of Companies, Autoliv Inc, Huntington Bancshares, Financial Corporation, Roper Technologies, Comerica, Jim Cramer's Charitable, CNBC, Getty Locations: U.S, Las, ZION, Horton, Freeport, Marsh, ALFVY, W.R, Lemont , Illinois

☆ Half a Year After the COP Agreement on Nature, Companies Are Increasingly Looking at Their Biodiversity Impact
▼ + stars: | 2023-06-21 | by ( Joshua Kirby | ) www.wsj.com time to read: +8 min

While mandatory reporting on nature may still be a long way off, for some companies, measuring their impact on nature makes good business sense. “Not enough companies are actually measuring their corporate biodiversity impact,” said Steve Kennedy, associate professor in business sustainability at the Rotterdam School of Management. Biodiversity impact, on the other hand, remains a more nebulous concept, with widespread uncertainty about what to measure and how to measure it. While biodiversity impact remains difficult to assess, more complete data can help, said Zoe Balmforth, co-founder of biodiversity-data startup Pivotal. And companies will soon have a final framework on which to base their voluntary biodiversity reporting.

Persons: Jennifer Motles, Philip Morris, Motles, Katie Critchlow, Rémy Cointreau, Eric Vallat, LVMH Moët Hennessy Louis Vuitton, ”, Steve Kennedy, Kennedy, “ It’s, “, ” Philip Morris International’s, Nicolo Filippo Rosso, Zoe Balmforth, Balmforth, Cameron Frayling, Frayling, U.N, JULIAN HABER, Kering, PMI’s Motles, Joshua Kirby Organizations: Philip Morris International, Data, Sustainable Business, Fund, Nature, PMI, Rotterdam School of Management . Companies, SAS, Bloomberg, World Bank, REUTERS Governments, United Nations ’, pharma, GSK, Gucci Locations: Montreal, American, of Mexico, Lake Erie, Colombia, Kunming, Canada, joshua.kirby

☆ Philip Morris to launch new $30 mln production facility in western Ukraine
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

KYIV, June 20 (Reuters) - Philip Morris International Inc (PM.N) will launch a new $30 million production facility in the Lviv region in western Ukraine in the first quarter of next year, the company said on Tuesday. "This investment reflects our commitment as Ukraine's long-term economic partner," Maksym Barabash, Chief Executive Officer of Philip Morris Ukraine, said in a statement. Some large multinationals that were active in Ukraine for many years have recently announced investment plans to launch production in the country's central and western regions, far from front lines. Nestlé (NESN.S) started construction in May of a 40-million Swiss franc ($42.7-million) production facility in the west of Ukraine. Philip Morris has invested over $700 million in the Ukrainian economy since the start of its operations in the country in 1994.

Persons: Philip Morris, Barabash, Philip Morris Ukraine, Olena Harmash, Timothy Heritage, Conor Humphries Organizations: Philip Morris International Inc, Gross, Unilever, Thomson Locations: Lviv, Ukraine, Kyiv, Ukrainian

☆ Stocks making the biggest premarket moves: Alibaba, Dice Therapeutics, Avis and more
▼ + stars: | 2023-06-20 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Atmus Filtration Technologies — Shares of the air filtration company rose more than 2% after a slew of analysts initiated coverage with bullish ratings, including JPMorgan. The bank said Atmus trades at a "deep discounted valuation vs. peers, despite >80% of aftermarket mix, while its planned expansion into industrial filtration should bridge the valuation gap vs. direct filtration peers over time." Avis Budget — Shares added 3.5% in light volume following an upgrade by Morgan Stanley to overweight from equal weight. Philip Morris International — Shares of the tobacco company rose 1.5% in premarket trading after Citi upgraded Philip Morris to buy from neutral. Carnival — Shares moved 1.5% higher in the premarket, building on gains made last week when it was the S&P 500's best performer.

Persons: Daniel Zhang, Eddie Wu, Alibaba's, Eli Lilly, Morgan Stanley, Adam Jonas, Jonas, Avis, Philip Morris, —, Jesse Pound Organizations: Alibaba, Holding, JPMorgan, Avis Budget, Citi, Warner Bros Discovery Locations: Beijing, China, —

Guardia Civil/Handout via REUTERSMADRID, June 1 (Reuters) - Spanish police raided three clandestine tobacco factories early this year, seizing nearly 40 million euros ($44 million) worth of tobacco leaf and illicit cigarettes. This operation is one of dozens across the EU that regional policing and anti-fraud agencies say have driven seizures of illicit cigarettes to record levels. It may have been further accelerated by the war in Ukraine, which for years has been a production hub and transit route for illicit tobacco, OLAF added. TOBACCO INVESTIGATORSThe industry has responded by hiring investigators to research illicit operations and share intelligence with European authorities, executives at Japan Tobacco, BAT and Imperial Brands told Reuters. "A good many workers from Ukraine have been found in these illegal factories," Japan Tobacco's Byrne said about counterfeiting operations across the EU.

Persons: who'd, OLAF, Cyrille Olive, Philip Morris, Olive, Europol, Vincent Byrne, Byrne, Japan Tobacco's Winston, Alex McDonald, Ernesto Bianchi, McDonald, Japan Tobacco's Byrne, They're, they're, Richa Naidu, Emma Pinedo, Emilio Parodi, Matt Scuffham Organizations: Guardia Civil, REUTERS, Spanish, EU, BAT, Imperial Brands, Japan Tobacco, Philip Morris International, Reuters, Marlboro, America's Dunhill, Supplies, Investigators, Mobile, Thomson Locations: Seville, Spain, Guardia, REUTERS MADRID, Alfaro, Europe, Ukraine, British American, France, Netherlands, Portugal, Slovenia, Denmark, Czech Republic, Ireland, Japan, China, Asia, EU, Russia, Belarus, Roda de Ter, Barcelona, Spanish, Italy, Pomezia, Russian, Moldovan, London, Madrid, Milan

☆ Philip Morris International CEO aims to make its stock an ESG investment, FT reports
▼ + stars: | 2023-05-31 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

The majority of those sales come from PMI’s “heated tobacco” products, which use electricity to warm, rather than burn, tobacco. “This requires system-level change.”Philip Morris International, headquartered in Switzerland, is the multinational firm that sells Marlboro brand cigarettes in non-US markets. It was spun off in 2008 from Altria Group, which controls Philip Morris USA. That’s especially true in Europe, where ESG accounted for 65% of all flows into ETFs in 2022, according to Morningstar data. Olczak touted PMI’s ESG bona fides on transparency, though he also acknowledged that the use of child labor in tobacco supply chains harmed his company’s ESG rating.

Persons: Philip Morris, Jacek Olczak, ” Olczak, “ I’m, Philip Morris …, ”, ” Philip Morris, ESG, Olczak, “ Organizations: New, New York CNN, Tobacco, Philip Morris International, Financial Times, CNN, ” Philip Morris International, Marlboro, Altria Group, Philip Morris USA, drillers, Morningstar Locations: New York, Switzerland, Europe

☆ Sanction hit tars BAT’s US listing hopes
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 26 (Reuters Breakingviews) - British American Tobacco (BATS.L) could have trouble getting more American love. The $635 million settlement plus interest may be less of a financial spoil for the $82 billion giant. Still, investors including Rajiv Jain’s GQG Partners, had hoped BAT could move its listing to the United States to close a yawning valuation gap. The reputational stain from its fine, however, raises the risk that if it were to move stateside, U.S. investors may still apply a discount. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

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