Higher cigarette taxes are prompting a burgeoning smuggling trade along routes such as I-95 on the East Coast, and states are trying to stem the flood of illegal smokes to fight crime and regain lost revenue.
Canadian stocks rose to a five-year high as Russian President Vladimir Putin signaled he wouldn’t invade eastern Ukraine and the U.S. reported home construction data that showed the industry was stabilizing.
Some U.S. workers who don’t get overtime compensation under what’s known as the “white-collar exemption” would be able to collect extra pay under revised regulations President Barack Obama plans to order tomorrow, according to a White House economist.
Cerberus Capital Management LP’s $9 billion deal to merge Safeway Inc. with Albertsons is a bet that a larger supermarket chain can better fend off an attack on the grocery business by big-box stores and online retailers.
Wm Morrison Supermarkets Plc shares plunged the most in 11 years after the U.K. grocer said profit will decline this year as it cuts prices and improves supermarkets to fend off the increasing pull from discounters.
McColl’s Retail Group Ltd., the owner of 1,276 convenience stores and newsagents, will start a rash of possible initial public offerings by U.K. retailers this year after announcing plans to join the stock market next month.