and do we think philip morris will be able to appeal?|j morris will be able to appeal?”nd push this case further. they already brought it, lost, will they want to walk away or double down? we will have to wait and see. but again, this is a case where we have seen in the past international corporations win against governments full stop that has not been the case here. india now and a campaign against the goods and services tax and feminine hygiene products is gathering steam. it is argued that the text should be waived. access to hygiene: product isa waived. access to hygiene: product is a problem. and cost is a big issue too. as a result, tens of thousands of girls drop out of school every year when they start the periods. now in a seemingly women friendly move the government has made bangles bendy ‘s and other things tax—free. but many believe these are considered essential products for women then so should sanitary pads. but they are being taxed at 12% instead, a decision the government defence. if we reduce the tax on sanitary pads it shouldn't be the multinational co

down 13% and philip morris down 5%. monitor this as tobacco stocks getting hammered on this news the fda is to seek cutting cigarette nicotine to nonaddictive levels. ♪ we are going to take a get a look at the breaking news from the fda proposing cutting nicotine levels in cigarettes to nonaddictive levels. tobacco stocks are plummeting and we have julie hyman. there was a quick and fast reaction, talk about no reaction in health care but a reaction to the tobacco announcement. julie: it goes to the heart of their business, if nicotine is the reason that a lot of people smoke, they become addicted to it and if the fda mandates a reduction in nicotine, that could mean the biggest threat since the last big regulatory change we saw on tobacco. the fda says it plans to begin a public dialogue about this. it is not as though they're coming out with rules today. it is the beginning of a discussion, is how they are talking about it and they will take public input on the proposal. ken jup the phone with who covers the stocks of

as you mentioned the reuters investigation found philip morris international has created a campaign toadministration of this treaty pushed toward andnce and tax ministers away from health ministers, people who might be more interested in getting these kind of health regulations put in place. our investigation found in africa, tobacco companies in a wide association resending letters to government saying, we noticed you proposed this set of smoking regulations and by the way, we think it culture brings your constitution and we think it could be against world trade treaties. it follows a pattern that tobacco companies have set out over many years of trying to delay implementation of life-saving regulation. amy: let's talk about this. according to your report, africa has a lowest number of tobacco deaths among world health organization regions in the 2010. world health organization predicts nearly half the population of congo-brazzaville will smoke by 2025 and smoking rates will increase in 17 other countries. you also look at kenya as a case study. >> in kenya, the supreme court is heari

philip morris international is pochlt i doesn't have the u.s.usiness but what does this actually mean for the companies? >> in the long term, it's seen as a negative and reduce the addictive nature of smokeable cigarettes which will most likely affect the younger smokers, not so much the older smokers. but we also see this as a potential positive for manufacturers of electronic cigarettes as it encourages the development and use and availability of an alternative to combustable cigarettes. >> i just wonder about the consequences of this could this create a black market for cigarettes what's going to happen >> i think it surely does encourage us a black market for cigarettes but we don't see any near term impacts. i think this will take a while to be implemented. for people that are currently addicted, changes that take place. and nicotine levels are reduced. if they're dakted, they'll smoke more that may be supportive of volumes for people that are not addicted it is the younger smokers that will be addicted >> you saw this coming and remind vie

the international permanent court of arbitration hasn't published the amount philip morris must pay,alian media is reporting a figure of us $38m. kuwait airways and royaljordanian have become the latest middle eastern airlines to remove restrictions on passengers taking laptops in the cabin on us—bound flights. both carriers said they had worked with us officials to tighten security checks. the us imposed the ban in march on direct flights from eight mainly muslim countries to address fears that bombs could be concealed in the devices. the former boss of one of the uk's leading supermarket chains, sainsbury‘s, has told the bbc that brexit will mean higherfood prices, lower quality and less choice. justin king says the uk food system has been shaped by the european union for a0 years and leaving will be tough for supermarkets and shoppers. the chinese shipping giant cosco look set to buy its hong kong rival 00ilfor $6.3bn. and would make cosco the world's third biggest shipping company. monica miller is in our asia business hub in singapore. what more do you have on this? cost those s

philip morris has been ordered to play -- pay the assad government millions of dollars. volkswagen executives were warned a month before investors -- a fallout could cost $18.5 billion. finally for business -- the u.s. is looking to crack down. it is a trend that has turned into a major problem for organized tourists operators. have and tour's operators paid out claims, but it overwhelming number of claims has led some hotels to higher private detectives to debunk phony sickness claims. justice saystry of it will be limited and face upnt claims could to three years in jail. quirks timeout for the press review. time not to tatake a look at wht .as been making headlines >> it ends a nine-month operation. newspaper saying -- mosul haszle been liberated. >> the reaction you have been seeing in the paper today, the battle against the islamic state group is far from over. >> we are really getting this impression that for many papers the battle is far from over. mondethor argues the le the question now is how -- how the islamic state group remains dead to stabilize the -- so pe

. >>> philip morris cut its price for the year after cutting cigarette shipments. revenue grew but not at the clip analysts were expecting and profits came in light. down 1.86. and the snow mobile and poe lars sale s rose as the company said there was strong demand in its international market. >> a really good quarter. organic sales up, it's nice to get back to growth in the business. trz it's up to about 12%. >> growing demand for software subscriptions helped check point's bottom line come in bert than expected. despite the rise which is israel's biggest technology company, said it is seeing weakness in higher end deals. shares fell 7% to 107.41. scholastic has a plan to increase earnings. the global children's publishing company plans to focus on cost cutting and will use data analytics to guide market and sales decisions. in its most recent quarter, they reported a rise in operating income, but also warned investors that earnings could drop next year in the ab bceps of new h >>> and quarterly sales of -- muscular dystrophy were much stronger than expected. that

philip morris had tried to force the laws to be overturned, but a court dismissed its claim in 2015.ixed at the moment. that‘s all the business news. time for a look at the weather. some real and ups and downs in our forecast this week, and one thing heading down is the temperature. particularly in the south, much cooler and fresher than recently. some rain at times through the week, also some spells of sunshine, as ca ptu red also some spells of sunshine, as captured here are one of our weather watchers in shetland. there are cloudy skies fathers today, that was the scene for anglesey a bit early on, and some dramatic weather the south—east. the new continent has seen some vicious thunderstorms, some flooding across parts of paris. —— the near continent. some of these storms clipping close to east anglia and the south—east. some heavy thundery downpours through the afternoon. further west, some spells of sunshine, the best of that probably close to the coasts. more cloud inland. 0ne that probably close to the coasts. more cloud inland. one or two showers, quite slow moving because t

philip morris international bounced back and then some as you can see here.his company gets all of its revenue abroad so that appears to be part of the reason why. pointing out, these companies have been preparing for this to some degree. they've been pushing much more into these new technologies or consuming tobacco so something to keep in mind here as we continue to watch these stocks. big movers based on earnings today. summon the energy industry. exxon mobil and chevron. exxon mobil surprising investors coming out with production that fell 1% last quarter. analysts had been predicting gains and the numbers missing estimates of those shares down 2%. earnings missed estimates but it raise production last quarter by 10% which is much more than had predicted and it is the highest level going back to 2009. what is interesting is that you have these earnings moves independent of oil this week. a big week for oil prices. is the best% and it week we have seen for oil's performance all year since going back to early december. gains here as we have saudi will cutyi

philip morris had tried to force the laws to be overturned, but a court dismissed its claim in 2015.ic acts of the last 25 years. so much so, danny boyle chose them to look after all the music for the opening of the 2012 0lympics. their new work for the manchester international festival is rather different. manchester street poem turns interviews with people who have been homeless, into a piece of music. and as audiences listen, they can watch karl hyde from the group paint what was said. 0ur entertainment correspondent, colin paterson went to see the work in action. nobody wants to see people on the street, and if they do, they're not going to ask them their story. in paint and in music, the words of people who have been homeless, given a whole new audience by underworld. i was just curious about why people were sleeping in doorways. and, you know, my kids were asking me what's going on? i didn't have a satisfactory answer. i've come close to being lost enough to have lost everything, and i don't see any difference between the people who are living on the streets and me just because

altria group and philip morris lower in today's trading session so far altria plunging 18%.own 10% or so with that, i send it back downtown for the start of "squawk alley. carl, over to you. >> susan, thank you very much. good morning, 8:00 a.m. at amazon headquarters out west 11:00 a.m. on wall street. "squawk alley" is live ♪