New Jersey reached a deal to obtain almost $92 million for its general fund by pledging the remainder of its revenue from the national tobacco settlement to investors. The bolstered payment pledge made trading prices on bonds linked to the agreement more than triple from March 3.
Smokers can’t use New York law to force tobacco giant Altria Group Inc.’s Philip Morris USA unit to pay for tests they claim would provide early detection of lung cancer, the state’s highest court ruled.
A half century after linking smoking to lung cancer, the U.S. is confronting stalled progress in kicking the habit of 42 million Americans with new evidence that many common ailments such as diabetes, arthritis and impotence can be tied to tobacco use.
Cigarette makers including Altria Group Inc.’s Philip Morris USA unit lost a bid to end court monitoring of their marketing practices established under the U.S. government’s 13-year-old racketeering lawsuit.
U.S. tobacco companies including Altria Group Inc.’s Philip Morris USA were told by a judge they must publish warnings with their products, in advertisements and on their websites saying they lied to the public about the health hazards of smoking.