
Sabah Meddings | (TNS) Bloomberg News Just a year after he became chief executive officer of Philip Morris International Inc., Jacek Olczak swooped on rival nicotine pouch maker Swedish Match in a $16 billion deal. Related Articles National News | NORAD’s Santa tracker was a Cold War morale boost. Now it attracts millions of kids National News | Bill Clinton is out of the hospital after being treated for the flu National News | Heavy travel day off to a rough start after American Airlines briefly grounds all flights National News | Social Security’s full retirement age will jump in 2025. When can you collect your full benefits? National News | Today in History: December 24, former defense secretary pardoned in Iran-Contra scandal Olczak wanted the company’s vast U.S. distribution network and popular Zyn nicotine pouches, which are about the size of a chiclet and meant to be placed between a user’s gum and upper lip. Hailed by some as a product that can give users “unstoppable force,” demand for Zyn is now so great that the company is on track to sell 580 million tins in the U.S. this year, up from 385 million a year earlier. It’s all part of Olczak’s plan as he charts a way for the world’s largest tobacco company to generate two-thirds of its revenue from smoke-free alternatives to cigarettes by 2030. The problem? It’s becoming increasingly clear that the huge wave in popularity for Zyn is also sweeping up kids. There are already an estimated half million underage users in the U.S. who are developing a taste for nicotine — a highly addictive, toxic chemical. Philip Morris was fined $1.2 million this month for sales in Washington, D.C., of pouches made with banned flavors, which are seen as more attractive to children. Olczak is clear that the tobacco company may never be able to stop kids from trying its products. “The unfortunate thing is that with young people, there is an element of experimentation,” he said in an interview with Bloomberg at the company’s headquarters in Switzerland. “It doesn’t matter which country. This age is about experimentation, and they will experiment with the things the adults are doing.” His own 16-year-old son is curious about nicotine, he said. “You have to understand that ‘zero’ will not exist.” For Philip Morris, which reported $35.2 billion in net annual sales last year, the company is at a precipice: navigating the potential huge upside in the U.S. could depend on its ability to prove that it’s not hooking a new generation of young people on nicotine. The cautionary example here is Juul, the high strength e-cigarette brand accused in multiple lawsuits of targeting underage users through stylishly-designed vaporizers and advertisements on youth-focused websites. The U.S. Food and Drug Administration banned Juul from marketing its products in 2022, and rescinded the order earlier this year. Olczak, 59, insists the marketing of Zyn is “day and night” compared to Juul, pointing to his company’s focus on age verification. Still, a quick search on TikTok turns up a stream of videos promoting the pouches, including endorsements from Joe Rogan and Tucker Carlson. The CEO maintains that Philip Morris has never paid for influencer promotion. The company is “very careful about which audiences we talk with,” he said. “We don’t mind our consumers sharing their happiness,” he added, “but we would like them to watch who follows them.” With sales climbing, the FDA has already begun to crack down, penalizing retailers caught selling to minors, and sending warning letters to online sellers offering unauthorized flavors of Zyn products. The regulator says that nicotine, which is addictive, can harm adolescent brain development and impact attention, learning and memory. To Olczak’s frustration, Zyn and other nicotine pouches have not yet been authorized by the FDA — Swedish Match filed an application in March 2020 — but are permitted to stay on the market while the request is being considered. That hasn’t dampened demand: Zyn sales grew 41.4% in the third quarter in the U.S. compared to a year earlier, reaching 149.1 million cans. Following reports of supply shortages in the U.S., Philip Morris made a fresh investment in its Owensboro, Kentucky plant, and announced plans to build a new factory in Colorado. Other Philip Morris products are facing similar regulatory challenges. Sales of a heated tobacco stick called IQOS are expected to decline slightly this year as a result of what Stefan Volpetti, who oversees the company’s inhaled smoke-free products, calls “short-term turbulence” related to regulation. The EU has banned flavored heated tobacco products, and Taiwan has banned heated tobacco outright. In the UK, Philip Morris has also come under fire for its ambitions to expand into health care. In September, it announced plans to sell British inhaler-maker Vectura Group Ltd. for roughly a third of the price it paid just three years ago. The $1.2 billion deal was criticized by scientific organizations, health charities and anti-smoking campaigners who said that Big Tobacco should not benefit from a company whose products are used by Britain’s National Health Service, among others. Some even recommended that doctors stop proscribing Vectura-made inhalers. Olczak believes that this response crossed a line. “The scientists of Vectura were cut off completely from any symposia or gathering,” he said. People were “obsessed with the fact Philip Morris was the shareholder.” The controversy illustrates the challenges facing the company, as it attempts to leave cigarettes behind and push into new product areas. Philip Morris still has a long way to go before it sells its last pack, Olczak sees the launch of IQOS in the U.S. and a surge in Zyn sales as an opportunity to step in the right direction. “The destination is a given,” he reflected. “It’s written on the wall.” ©2024 Bloomberg News. Visit at bloomberg.com. Distributed by Tribune Content Agency, LLC.
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Apple Hospitality REIT, Inc. (APLE) to Issue Monthly Dividend of $0.08 on January 15thRuben Amorim said he has inherited a "difficult position" at and described his new side as "a massive club but not a massive team." Having racked up 20 top-flight titles, United are English football's most successful club, domestically. But their impressive history has not been mirrored by results on the pitch over the last decade. Amorim has arrived at Old Trafford with United, who haven't won the title since 2013, in the bottom half of the table and they head into Saturday's game six points behind opponents -- who were playing in the Championship as recently as 2022. "We're a massive club but we're not a massive team and we know it so it is no problem to say it," Amorim told a news conference on Friday. "Our players have to understand that it's a very difficult position. "We're not one of the best teams in the league and we have to say and think that clearly but our past, our club is maybe the best one in the league. "So here we have a problem and we have to focus on the little things and little details." Amorim has had little time on the training pitch since taking over from Erik ten Hag because of a packed fixture list. The 39-year-old has been careful to play down expectations while the squad gets to grips with a new tactical set-up. However, he insists one non-negotiable is the amount of effort put in by his players and warned them they had to "run like mad dogs" if they want to be successful. "I think the way we sprint back, the way we sprint forward, the way we fight, we have to be very clear with the team, this is the first point we have to address then the tactical and technical aspects come later," Amorim said. "What I see is that they're making an effort and there's a lot of room to improve. Changing that thing you can sometimes say is simple because it's just running but it's something in the head of the players. "If you want to win we have to do it. Even with the best starting XI on the planet without running they will not win anything, that is very clear. If we want to win the we have to run like mad dogs. If not, we are not going to."
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Securities and Exchange Commission (SEC) chairman Gary Gensler will resign in January, which would allow for President-elect Donald Trump to select a pro-crypto, anti-climate-change-policy chairman. Gensler inflamed controversy during his time as chair by pushing onerous climate change policies, targeting cryptocurrency companies, and other actions. The Wall Street Journal (WSJ) reported in 2023 that the SEC’s proposed climate change disclosure rule would require companies to disclose a staggering amount of data: The proposed reporting rules would require public companies to include a raft of climate data in their audited financial statements. The mandated disclosures cover everything from costs caused by wildfires to the loss of a sales contract because of climate regulations, such as a cap on carbon emissions. Companies would have to analyze climate-related costs and risks for each line item of their financial statements, such as revenue, inventories or intangible assets. Any climate costs that are 1% or more of each line item total would have to be reported. Under current rules, companies are generally required to disclose only those climate costs and risks they judge to be material, or significant, for investors. SEC officials are concerned that too few companies are reporting such important climate costs and risks. As SEC chairman Gensler also had many contentious disputes with the crypto industry, which led to the regulatory agency suing several large digital asset companies and exchanges over how they handled and sold cryptocurrency. Gensler investigated Elon Musks’s Telsa for potential fraud surrounding his $44 billion acquisition of Twitter, which he rebranded X. In January 2024, Rep. Byron Donalds (R-FL) said that Gensler’s investigation of free speech platform Rumble may have been interfering the site’s role in the 2024 presidential election. Trump can now choose a new chairman for the SEC. Two other commissioners’ terms will expire during Trump’s time in office as well. It is expected that he would nominate commissioners friendlier to the cryptocurrency industry and other financial technology industries. American-based digital exchange Coinbase described the fight against Gensler and the SEC as “existential.” In an interview with Breitbart News, Rep. French Hill (R-AR), who is running to be chairman of the House Financial Services Committee, said he would seek to end the targeting and “debanking” of cryptocurrency companies happening under the Biden-Harris administration. “I want to increase competition, make community banking great again, and end the regulatory administrative state’s dominance of the regulatory system,” Hill remarked. House Majority Whip Tom Emmer (R-MN) wrote, “Good riddance,” referring to Gensler’s resignation. Sean Moran is a policy reporter for Breitbart News. Follow him on X @SeanMoran3 .
Rokmaster Resources (CVE:RKR) Shares Down 25% – Time to Sell?The scenarios for the 49ers to make the playoffs are complicated and unrealistic . What I’m asking the 49ers to do in Sunday’s game with the Bears is simple and achievable: Show some pride. This might not be a team that can compete for the championship (or even make the tournament) but that doesn’t mean anyone should roll over. This isn’t the NBA, after all. No, in the NFL, there is still plenty to play for, even if the season’s original goals have gone up in smoke. Sunday is the perfect spot for San Francisco to get right. They’re facing a Chicago team with a rookie quarterback, a head coach in his first game, and the general stench of chaos around them. Don’t get me wrong, the Bears have many admirable qualities, and they can absolutely win Sunday’s game, which should be called the MiseraBowl . But surely the Niners — for all their faults and fumbles — aren’t as bad as these guys. Right? Say what you will about the Niners (I’ve said it all by now), but at least they’re not possibly starting former Seahawk special teamer Travis Homer at running back Sunday—no, they’ll have rookie Issac Guerendo in the backfield. And while Bears fans wondered if interim head coach Thomas Brown (who was promoted to offensive coordinator 17 days prior) would fulfill his new gig from the booth, the Niners haven’t dealt with coaching-from-the-booth issues for over a year. And instead of wondering if their quarterback is “the guy” to stake the franchise, like the Bears with rookie Caleb Williams, the Niners are trying to figure out how much to pay the quarterback on whom they’ll stake the franchise. That’s totally different! But, hey, the Niners will be at home on Sunday. That has to count for something. Ok, the margins between these two teams might be tighter than initially expected, but this Niners’ season still matters. If not the quixotic quest for the playoffs, then as a testament to quality for players and coaches and a momentum starter for the 2025 season. “Just flush the things that have happened. Don’t worry about what has happened in the past,” George Kittle said this week. “Flush it, try to be your best self, and just move forward because we still have a lot of great players on this team that can all make really special plays. And all it takes is a spark to get the boys going, and then after that, we’ll see what can happen.” This is the beauty of the NFL — every game has meaning, even if neither team should have any interest in actually playing the game. And for all the conversation around the Niners tanking for a good draft pick, wouldn’t it be better to pull it together and play — for the first time all season — some solid football final weeks, making the Seahawks and Cardinals — who need a playoff berth more than the Niners — sweat until the very end, and put a dent in the notion that this team’s stock is in a tailspin? This is a what-have-you-done-for-me-lately league, after all. Lesser teams have earned more reputation from less than what is being asked of the Niners. Draft picks? That can all be sorted out in the spring. And it’s not like the Niners need to position themselves for a quarterback at the top of the first round. (We saw how that worked out last time.) No, the Niners need both quality and quantity this upcoming offseason. They’ll need to build up both lines and their defense with young and cheap players. But this team isn’t tearing things down to the foundation—this isn’t a full-on rebuild. No, call it a restructuring. It’s one part a penance for trying to run back the same team that went to the Super Bowl in 2023, another, the natural autophagy of a football team. It’s a crucial offseason, no doubt, and wouldn’t it be better if the Niners entered it with a reason to believe they are still a team to beat in the NFC? The Niners built a stars-and-scrubs roster and were decimated by bad injuries to those stars. They played with fire and were burned. After a season as disappointing as this one, the Niners have to prove that their window of contention for that long-sought sixth Lombardi Trophy is still open. That this team isn’t done, even if this season is. Beating the Bears won’t reverse this campaign’s trend or give the Niners a leg up in 2025, but losing to Chicago certainly wouldn’t help the cause. Whatever lie the 49ers need to tell themselves to get up for this game needs to be said. The Niners’ best might not be all that great anymore, but it’s time for that best to show itself. Great players and teams are self-motivated, after all. Consider this the 2025 preseason, folks. What the Niners do on Sunday and in the final four games of the season will give us a great hint as to what we can expect next year.