Business Briefs: Tobacco control bill advances in Senate
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Source:http://www.commercialappeal.com/,2009-06-26
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A key Senate vote Monday put Congress in sight of fulfilling a decade-old quest to put the content and marketing of tobacco products under the control of the federal government.
The legislation would for the first time give the Food and Drug Administration legal authority to regulate cigarettes and other tobacco products. The 61-30 Senate vote to move forward on the bill sets up possible passage of the measure this week.
The House has already passed a similar bill.
The Senate action was critical because, under Senate rules, it ended the possibility of senators offering amendments that are not relevant to the FDA regulation issue.
Among the proposals senators had hoped to attach were a "cash for clunkers" bill, a North Korea sanctions bill and a prescription drug importation bill.
Entry price for iPhone now $99
SAN FRANCISCO -- Apple Inc. slashed the entry price for an iPhone in half and lowered some laptops by $300 Monday in its first dramatic price cuts since the recession began a year and a half ago.
With co-founder and CEO Steve Jobs absent until his medical leave is over at the end of June, Apple's biggest unveiling at its annual conference for software developers was a new model of the iPhone, the 3G S. It looks the same but sports a faster processor, longer battery life, an internal compass, a video camera and a photo camera with better resolution and auto-focus.
A 16-gigabyte 3G S will cost $199, and a 32-gigabyte version will be $299. The 8-gigabyte iPhone 3G, which came out last year, now costs $99, instead of $199.
The newest iPhones go on sale June 19, just as two-year contracts for the buyers of the original models are expiring and Apple's phone faces tougher competition from the likes of Research in Motion Ltd. and Palm Inc.
Arms spending defies recession
STOCKHOLM -- World governments spent a record $1.46 trillion on upgrading their armed forces last year despite the economic downturn, a Swedish research group said Monday.
Global arms spending was 4 percent higher than in 2007 and up 45 percent from a decade ago, the Stockholm International Peace Research Institute said in its annual report.
U.S. military spending increased nearly 10 percent in 2008 to $607 billion and accounted for about 42 percent of global arms spending, SIPRI said.
The U.S. was followed for the first time by China, which increased its military spending by 10 percent to an estimated $84.9 billion, SIPRI said.
Work starts on NY-NJ tunnel
NORTH BERGEN, N.J. -- Construction began Monday on the nation's largest transportation project, an $8.7 billion rail tunnel into New York City that is expected to reduce the time it takes commuters to reach Manhattan from New Jersey by an average of 40 minutes.
The 8.8-mile fourth rail tunnel under the Hudson River will require removal of 2 million cubic yards of rock and soil and will take eight years to build.
The tunnel will speed the work commute from New Jersey to New York City by increasing the number of NJ Transit passenger trains that pass under the river at peak rush hour from 23 to 48.
Report: New CEO for P&G
CINCINNATI -- The Procter & Gamble Co. is reportedly ready to name 29-year company veteran Robert A. McDonald to succeed A.G. Lafley as CEO of the world's largest consumer products maker.
A Wall Street Journal report Monday said unidentified people familiar with the matter revealed the plan for Lafley to step aside in favor of McDonald, 55, while staying on as chairman.
P&G's board of directors, which would have to approve the move, meets today. |
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Tobacco Hot news and Information...
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Tobacco firm to auction 5.5-acre Marol plot
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Source: http://www.hindustantimes.com/,2010-09-07 |
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One of the prime properties at Marol in Andheri, owned by Golden Tobacco Limited (GTL), has been put on the block for sale. The company will conduct an auction for its 5.5 acre plot on Tuesday. The reserve price for the plot has been fixed at Rs 50 crore by the company and they have taken a
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KT&G Joins With Imperial Tobacco Group
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Source: http://www.koreatimes.co.kr/,2010-09-03 |
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KT&G, South Korea's foremost tobacco company, sealed a partnership with Imperial Tobacco Group under which the former will manufacture products for the latter this year.
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Our very own Tobacco Road
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Source: http://www.southtownstar.com/,2010-05-20 |
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What do you get when local legislators can't get anything meaningful done but really want to show the folks at home they are working hard?
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