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Category: Business & Finance

  • Juul Secures Permanent IP Injunction in UK

    Juul Secures Permanent IP Injunction in UK

    Juul Labs won a permanent intellectual property injunction in the UK High Court, converting temporary measures from 2019 into lasting legal protection. The ruling bars four Chinese companies — Greensun Technology, Ouch, Gaish, and Airsmo Tech — from infringing on Juul’s trademarks, product designs, and patents.

    The court said the defendants ignored proceedings and prior orders, failing to respond to Juul or provide required witness statements. The decision mandates the destruction of existing infringing products and publication of the ruling on the companies’ websites.

    Juul said the injunction is a key milestone in its global IP enforcement efforts, ensuring its products and designs remain protected in the UK market and reinforcing its rights against unauthorized competitors.

  • PMI Gets Approval to Produce Nicotine Pouches in Bangladesh

    PMI Gets Approval to Produce Nicotine Pouches in Bangladesh

    Philip Morris received approval from the Bangladesh government to open a factory in Narayanganj to produce nicotine pouches. The project, granted by the Bangladesh Economic Zones Authority (Beza), involves an initial investment of $5.8 million with a planned annual production of 536.3 million units, with operations required to start within a year.

    The news sparked opposition from anti-tobacco campaigners who are calling for the revocation of the approval. However, Beza described the pouches as “anti-nicotine” products and noted there is no explicit ban on their production or export, despite a government import ban on e-cigarettes and other electronic nicotine delivery systems.

    Authorities are reviewing environmental and regulatory compliance, with Philip Morris Bangladesh seeking clearance from the Department of Environment.

  • Altria Reports Q3 Results, Narrows 2025 Guidance

    Altria Reports Q3 Results, Narrows 2025 Guidance

    Altria Group, Inc. reported third-quarter 2025 net revenues of $6.1 billion, down 3% year-on-year, while adjusted diluted EPS rose 3.6% to $1.45. The company reaffirmed its resilience in core tobacco and smoke-free products and announced an expansion of its share repurchase program from $1 billion to $2 billion, set to run through 2026.

    CEO Billy Gifford highlighted “exciting progress” across Altria’s portfolio, including the U.S. launch of on! PLUS nicotine pouches, regulatory submissions for Ploom heated tobacco, and a strategic collaboration with KT&G to pursue international and non-nicotine growth opportunities. The company also marked its 60th dividend increase in 56 years, underscoring its continued focus on shareholder returns.

    Altria narrowed its full-year 2025 adjusted EPS guidance to a range of $5.37–$5.45, representing 3.5%–5.0% growth from 2024. Management said it expects performance to moderate in Q4 as it laps prior share reductions and continues to invest in its smoke-free strategy amid a dynamic regulatory environment.

  • JT Reports Strong Q3 2025 Results, Raises Full-Year Forecasts

    JT Reports Strong Q3 2025 Results, Raises Full-Year Forecasts

    Japan Tobacco Inc. (JT) reported robust growth for the first nine months of 2025, with revenue up 13.2% to ¥2.63 trillion ($17.1 billion) and adjusted operating profit at constant FX up 27.2% to ¥849 billion ($5.5 billion), driven by solid pricing and higher tobacco volumes. The company also completed the transfer of its pharmaceutical business to Shionogi & Co., Ltd. and its subsidiary TORII PHARMACEUTICAL, marking a strategic shift to focus on its core tobacco operations.

    At the end of September 2025, total assets stood at ¥8.2 trillion ($53.2 billion), down ¥175.7 billion ($1.1 billion) year-to-date, mainly due to lower cash holdings, while equity increased to ¥4.17 trillion ($27.1 billion) on higher retained earnings. Operating cash flow remained strong at ¥287 billion ($1.9 billion), supported by steady contributions from the tobacco business, despite payments related to the Canadian litigation settlement.

    Reflecting strong performance, JT raised its full-year forecasts across all metrics, projecting a 13.1% rise in revenue and a 24.3% increase in adjusted operating profit at constant FX. CEO Masamichi Terabatake credited growth in the Ploom heated tobacco segment, with Ploom AURA and EVO premium sticks boosting Japan’s HTS market share to 15.5%. JT also announced a revised annual dividend of ¥234 ($1.52) per share, up ¥26 ($0.17), in line with record-high earnings and its shareholder return policy.

  • Pyxus International to Report Q2 FY2026 Results November 12

    Pyxus International to Report Q2 FY2026 Results November 12

    Pyxus International, Inc. said it will release its second-quarter fiscal 2026 financial results November 12, before market open. The company will host an earnings call and webcast at 9 a.m. EST to discuss the results.

    Those interested can call +1 (646) 769-9200 or (800) 330-6710 with conference ID 2153372, or access the live webcast via Pyxus’ investor relations webpage. A press release and Q2 presentation will be available prior to the call. An archived recording will be posted shortly after the call.

  • BAT Launches €1.2 Billion Hybrid Capital Securities Issue

    BAT Launches €1.2 Billion Hybrid Capital Securities Issue

    Today (October 28), BAT announced the publication of a prospectus for a €1.2 billion dual-tranche hybrid capital securities offering. The issue comprises a €600 million perpetual non-call 5.25-year security (NC5.25) with a 4.20% initial coupon, and a €600 million perpetual non-call 8-year security (NC8) with a 4.75% initial coupon. The securities are subordinate to all senior creditors and will be accounted as equity under IFRS standards, receiving 50% equity credit from Moody’s, S&P, and Fitch.

    Proceeds from the issuance will be used for general corporate purposes, including the repurchase of the company’s outstanding Perpetual Subordinated NC 2026 Securities, which began with a tender offer on October 21, and the repayment of existing debt. The first call dates for the securities are October 20, 2030 to January 30, 2031, for the NC5.25 tranche and July 30, 2033 to October 30, 2033, for the NC8 tranche.

    Settlement is expected on October 30, 2025, with both tranches to be listed on the main market of the London Stock Exchange. The prospectus has been approved by the UK Financial Conduct Authority and is available online via the London Stock Exchange here and the National Storage Mechanism here.

  • Tobacco Stocks Stumble as ‘PMI Results Weigh on Sector’

    Tobacco Stocks Stumble as ‘PMI Results Weigh on Sector’

    Tobacco and nicotine stocks slipped yesterday (October 24) as shares of Philip Morris International fell following the company’s third-quarter results. While the company reported stronger-than-expected earnings and revenue, investors reacted negatively to a modest increase in full-year profit guidance and concerns over slowing growth in its smoke-free division. PMI shares dipped around 3–4% after the announcement, according to MSN’s Seeking Alpha.

    The sentiment rippled across the sector, pulling down other major players, according to Seeking Alpha. British American Tobacco traded about 2% lower, Turning Point Brands dropped nearly 4%, and Greenlane Holdings fell more than 5%. Altria Group also edged down around 1.5% ahead of its own quarterly earnings report, expected next week.

    Analysts at Morgan Stanley and BofA Securities maintained their “buy” ratings on Philip Morris, emphasizing its strong growth potential in reduced-risk products such as Zyn nicotine pouches. However, market watchers noted that investor expectations remain high even as the industry faces regulatory scrutiny and shifting consumer trends. The broader tobacco sector continues to balance solid cash flow and dividend stability against slower growth and rising public health pressures.

  • Don Emmanuel and Duran Cigars Join Creativas Group PR

    Don Emmanuel and Duran Cigars Join Creativas Group PR

    Creativas Group Public Relations announced the addition of two new clients, Don Emmanuel Cigars and Duran Cigars. The company will oversee public relations and communications initiatives for both brands, including media outreach, event coordination, and product news.

    Duran Cigars is a premium cigar company that crafts it products in “authentic Cuban tradition,” while Don Emmanuel Cigars “brings a boutique sensibility to the premium cigar world—blending tradition, artistry, and authenticity in every hand-rolled creation.”

  • BAT Italia Unveils glo Hilo, a ‘New Era in Heated Tobacco’

    BAT Italia Unveils glo Hilo, a ‘New Era in Heated Tobacco’

    BAT Italia introduced glo Hilo, its latest tobacco heating device, “marking a technological leap in the heated tobacco sector.” Italy is among the first countries globally to roll out this new ecosystem, featuring sticks entirely made in Italy.

    Speaking at the event, Fabio de Petris, CEO of BAT Italia, highlighted the company’s growth and investment plans in Italy. He said that Italy represents a key market for new product categories, with one in three consumers using next-generation tobacco products, and outlined BAT’s €500 million five-year investment plan in its Trieste production hub. The facility, which now serves 14 countries, has expanded with 16 additional production lines for heated tobacco, driving new hires and reinforcing Italy’s strategic role in BAT’s global innovation strategy.

  • Lenders Move to Sell Debt on Juul’s San Francisco Office Tower

    Lenders Move to Sell Debt on Juul’s San Francisco Office Tower

    Lenders are reportedly preparing to sell debt tied to Juul Labs’ San Francisco office tower at 123 Mission Street, a move that could pave the way for new ownership of the downtown property, according to the San Francisco Business Journal. According to multiple sources, Affinius Capital is in talks to sell the debt to Madison Capital, though no agreement has been finalized and pricing details remain unclear. Juul and Affinius both declined to comment, but sources suggest the deal could position Madison to eventually take control of the property, depending on the loan’s performance and structure.

    The Journal said the 123 Mission tower has had a turbulent ownership history since Juul purchased it in 2019 for $397 million, during the company’s rapid expansion, and then subsequent challenges as the market changed under regulatory uncertainty. After relocating its headquarters to Washington, D.C. in 2020, the company reportedly made several unsuccessful attempts to sell the building, including deals with PGIM and Pimco, both of which fell through amid the pandemic.

    If completed, the pending transaction would mark another major San Francisco acquisition for Madison Capital, which has invested nearly $800 million in the Bay Area over the past eight years.