logo
Share SHARE
FONT-SIZE Plus   Neg

Philip Morris Says New Zealand Govt. Recognizes Issues On Standardized Packaging

Cigarettes maker Philip Morris International, Inc. (PM), Tuesday, said the announcement of New Zealand government on standardized packaging recognizes the significant international trade issues.

According to the company, New Zealand's Health Minister Tariana Turia has said that "the Government will wait and see what happens with Australia's legal cases, making it a possibility that if necessary, enactment of New Zealand legislation and/or regulations could be delayed pending those outcomes."

The company further added that while there is no credible evidence that standardized packaging will lower smoking rates, strong evidence exists that it will jeopardize jobs, benefit the black market for cigarettes, and is a breach of international trade rules that have already made Australia's policy subject to WTO action.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Media conglomerate Viacom, Inc. on Tuesday reported a 10 percent decline in profit for the first quarter from last year, reflecting lower revenues in the Filmed Entertainment and Media Networks segments. However, adjusted earnings per share for the quarter matched analysts' expectations, while revenues missed their estimates. Transmission utility ITC Holdings Corp. announced Tuesday that it has entered into an agreement and plan of merger to be acquired by Canadian electric and gas utility company Fortis Inc. in a deal valued at approximately $11.3 billion. ITC shareholders will receive $22.57 in cash and 0.7520 Fortis shares per ITC share. The Coca-Cola Company (KO) reported that its fourth-quarter net income to shareowners increased to $1.24 billion or $0.28 per share from $770 million or $0.17 per share, last year. Adjusted earnings per share was $0.38, for the quarter. On average, 21 analysts polled by Thomson Reuters expected the company...
comments powered by Disqus
RELATED NEWS
Trade PM now with 
Follow RTT