US Reverses on Plan to Ban Menthol Cigarettes, WSJ Reports [BNN Bloomberg (Canada)]
Altria Group, Inc. (MO)
Last altria group, inc. earnings: 4/30 07:00 am
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Source: BNN Bloomberg
The administration is wary of angering Black voters in an election year, the Journal reported, and the decision is expected as soon as this afternoon. Shares of Altria Group Inc., which sells the Marlboro and Benson & Hedges brands in the US, rose as much as 0.9% after the report was published. US depositary receipts of British American Tobacco Plc jumped as much as 2.7%. The decision comes just weeks after public health groups sued the FDA for a second time for failing to follow through on its plan to ban menthol by the end of March. The lawsuit claimed that the agency had unreasonably and unlawfully delayed regulations that would save lives. More than 10 million Americans took up smoking because of menthol cigarettes between 1980 and 2018, and around 378,000 people died prematurely, according to the Centers for Disease Control and Prevention. Menthol is especially popular among Black smokers due to tobacco companies' aggressive marketing in Black neighborhoods and sponsorship
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