these laboratories belong to philip morris international, the makers of marlboro and a host of other brands. my guest today is ceo of the company, andre calantzopoulos. now, he says he is leading philip morris into a smoke—free future — 00:01:45,476 --> 2147483051:37:37,452 is that clever strategy or the most 2147483051:37:37,452 --> 4294966103:13:29,430 outrageous corporate hypocrisy? andre calantzopoulos, welcome to hardtalk. thanks for having me. i want to begin with a little bit of history — you have been with the philip morris organisation for more than 30 years. you lived through that period in the late 80s, 1990s, when it became clear that philip morris and the other big tobacco companies had systematically lied, deceived and manipulated the public about the nature of cigarettes, the dangers of cigarettes. you chose to stay. why? first of all, because i think change can come from within. the second thing is, just for clarity, philip morris has stated clearly since 1999 that cigarettes are addictive and cause disease and premature deaths, and then the question is, what we do ab

i do not think that philip morris already company in this world has invented cigarettes.have had the same discussion on cannabis. people still use that although there were no advertising for it. people have a will and they take decisions and our job is to convince them to kick the habit of cigarettes and the best for them to create... we have to give them to create... we have to give them alternatives... we too have two be real and realistic as observers and what we see is that almost 90% of your revenues come from cigarettes and your overall revenues are into the hundreds of dollars and your remuneration packages around $15 million per year. you are so heavily invested in cigarettes that you cannot afford to walk away from them? on the contrary. we are walking away from them. i don't think that if we stop selling cigarettes tomorrow, because i get this question logically sometimes, this question logically sometimes, this is going to move an ita the needle on public health. 0n the contrary. there will be illicit cigarettes and industry selling them. my objective is to pha

i want to begin with a little bit of history — you have been with the philip morris organisation for 30 years. you lived through that period in the late 80s, 1990s, when it became clear that philip morris and the other big tobacco companies had systematically lied, deceived and manipulated the public about the nature of cigarettes, the dangers of cigarettes. you chose to stay. why? first of all, because i think change can come from within. the second thing is, just for clarity, philip morris has stated clearly since 1999 that cigarettes are addictive and cause disease and premature deaths, and then the question is, what we do about this? and what we developed, these products, that can reduce the risks. what is important to understand is first of all people know that cigarettes cause disease and are addictive... let's be very blunt, you are the boss of the biggest international cigarette manufacturer in the world. cigarettes kill people. cigarettes kill hundreds of thousands, millions of people. yes. you sit at the top of a company that makes and sells cigarettes. first of all, people

and philip morris moving down, because if it is a true m.o.e.nd the ownerships are more or less in line, even if it's somewhere in the 50s, high 40s, that's where it would be they say no guarantee, as they always do. hope to get a little more information for our viewers at some point during the course of the day. >> meanwhile j&j keeps inching higher there are many pieces coming out in the last few days that it was going to be more than a billion. there's undercurrent that it will not hold up in the supreme court appeal so that's another reason why j&j is not down. the naysayers are saying, well, just you wait. we need to hear from the ceo to see whether he feels thi business roundtable accusation that i regard as an accusation, that he's not doing enough for the stakeholders and for the country, versus what he's done for veterans and how much he has spent in his time that is not earnings per share related but impact per share and i find it insulting they attack him, it's insulting probably the most, i would say, giveback ceo in -- he's a top te

why altria and philip morris could soon be breaking out cigars. i'm ashley webster in for liz claman, let's begin "the claman countdown." ♪ ♪ ashley: we have breaking news for you, actress lori loughlin and her husband are right now in boston federal court as they try to settle the dispute over their choice of lawyers in that massive college admissions bribery case. the court will determine whether they can continue using a law firm that represented the university of southern california which is where their two daughters attended. the couple is accused of paying half a million dollars to get them into usc. they have pleaded not guilty. we'll continue to follow that for you. >>> over in markets, stocks right now as we said off session lows, but firmly in the red as trade hopes dim. it changes with each passing minute, it appears, and also the yield curve moving deeper into inversion. the spread on the two and ten-year yields widening to levels last seen in 2007, the ten-year hovering around 1.48% as you can see, yield curves typically are precursor

we'll be asking philip morris international if they're really serious about saving lives.aigners are taking those boxes back to the home office, with a message of their own. betting firms are flouting advertising regulations by encouraging children to engage with gambling adverts for competitive online gaming tournaments, according to a new report. researchers from the university of bristol and the think tank demos found children under the age of 16 made up more than a quarter of online users who shared or liked twitter posts giving betting odds for esports like fortnite and call of duty. professional computer games competitions are growing rapidly in popularity — just to give you a sense of the money on offer, the first fortnite world cup in america had a total prize fund of nearly £25 million. we can speak now to elliotjones, a researcher from demos, and to barrie gunter, an academic who has written a book on gambling advertising. welcome, both, thanks forjoining us. welcome, both, thanks forjoining us. thank you for coming in, elliott. tell us more about what you founde

for growth for philip morris if it combines with altria. and the other product is an alternative to cigarettes that they have been working on together philip morris sells it in japan and uk and altria will launch it in the u.s. in september so this is a from duct that they could then commercialize more efficiently if they were one company.duct that they could then commercialize more efficiently if they were one company. >> and this at a time when there is falling sales of traditional cigarettes but that is the concern from last decade. so in front of us is this concern that has lawmakers apoplectic to use your words which is kids vaping and with the fda having the authority to regulate tobacco, what recourse might lawmakers take and would that include block being the deal >> there is very little in my opinion that congress can do to block the deal and little fda can do the real question, can they come together, would they create an unfair market and they don't compete. so i don't think that is likely. but i do think that congress, we should

philip morris and altria are in talks to merge.al that bring back together two companies facing declining demand. >>>tu , why more drivers are turning off the very features designed to keep them safe. those stories and more tonight on "nightly business report" for tuesday, august 27th. ♪ >>> and we do bid you a good evening, everybody,nd welcome. we begin tonight with something a little different, something that has held tf attention the whole country for a while and something that we have been reporting on for quite sometime, that is the opioid epidemic. nbc news reported late this afternoon that purduea pha is offering between $10 and $12 billion to settle mor than 2,000 lawsuits connected to its role in the crisis. purdue pharma, you may know, is the maker of oxycontin, the powerful pain killer that has been at the center of the opioid epidemic. the reportede offer to set come one day after a landmark ruling against j & j which, as we reported last night, was ordered to pay half a "big tettle lies" dolla-- half a bil dollars to

but altria has really lapped philip morris in performance. with philipartnered morris.though they are still separate companies, they are seen as sister companies, connected in some way. september,nches in altria would get some of those profits. they are stronger together, more profitable together. it doesn't make as much sense to investors anymore. philip morris has lagged behind. they need something to get investors excited about their growth prospect. the healthow about effects. they are tiny contributors financially. both stocks are ending the day down. i think a lot of that is because it is an all stock merger. atria is not really getting real premium, they are called to get a merger of equals. caroline: we thank you. a quick check of the latest business flash headlines. revlon will start to approach potential bidders last month. they are exploring a sale of the whole company or indeed its major brands. they are trying to find a buyer that will turn around the company and keep it public. a former uber engineer has been charged with selling technology from the waymo

i understand that you want to portray philip morris as a company working towards a smoke—free world.nderstand that is why you frankly invited us here because this is where you are doing the work on your smoke—free products,

philip morris international has done really well in converting over 7 million smokers in japan really converting over 7 million smokers injapan and the asian markets into vaping. can they do the same in the us? who out of these companies will dominate the market? what will the conversation look like in terms of who will benefit? it is a race against who will be the winner in this market. that turn our attention to the guardian. these linked documents that reveal some big spending plans for schools in the uk, and it is all fuelling speculation that we could be approaching a general election. absolutely. the general election conversation is about borisjohnson and his leadership campaign, he talks about his top biology of spending. education was second to break it was always really big for him. in the previous election, the nhs wasa him. in the previous election, the nhs was a big headline that theresa may wanted to focus on, and there has been a legal document that is marked official sensitive that we are not supposed to say but the guardian got hold of it and it talks about some pretty

philip morris has more concerns about marijuana market even as growing numbers of us states and. countries around the world take steps towards the position. let's check in on the day's tradi action now that after the fact fairly a strong showing despite that disappointing economic data from germany. the checkout up about the same here in paris. shares in milan led gains even as italian politicians struggled to form a new coalition government. wall street has fallen then crept back towards the flat line as it continues its a volatile month of trading. at the nasdaq and s. and p. managing to creep just into positive territory there. with less than an hour of trade to go to the closing bell the dow jones is still down having raced in earlier hundred and fifty point gain. shares the pharmaceutical giant johnson johnson up about two percent. after ruling any key opioid case. you officials insist the united kingdom we'll have to pay the so called brexit bill even if it leaves the block without a deal. prime minister boris johnson has suggested that his government would refuse to settle

philip morris only sells tobacco outside the us and what you see outside of the us is less of a volumephilippines, so philip morris shareholders weren't thrilled they were going back into the us effectively with altria, so shares were down seven or 8% by the end of the day. in the uk, the latest british retail consortium figures suggesting prices falling, and this is playing counter to what we have seen elsewhere. give us a sense of why this is significant. overall prices were down but only slightly. the most significant data was clothing and footwear. the price division was around 8%, so a high numberand division was around 8%, so a high number and that is showing that you are getting to the end of summer sale season and retailers are struggling a bit to clear that excess stock and are having to reduce prices, so not a particularly good lead indicator the sum of the clothing retailers. and we know they are already struggling on the high street. what we have seen in the pasties they have tried to maintain margin and not discount because that is what keeps profits healthy. this suggests

philip morris, getting 59% of combined company.eigh negatively on philip morris. to talk about the alternatives to cigarettes what is it? e-cigarettes and vaping. those are gaining in popularity. altria has 35% stake in juul. you also have philip morris came out with their own product. that is raising, popularity across the globe. that is a device that doesn't burn tobacco. heats it up. so no smoke comes up. when you e-cigarettes you have to have a conversation about health concerns. today on cbs you had the ceo of the largest cigarette company, juul, he spoke about any type of breathing illnesses related to vaping. he said it is very worrisome. he admitted. that it is worrisome. u.s. centers for disease control are looking into 200 cases of possible lung disease associated with vaping. nonetheless, bring it full circle. this merger could take a while to get a green light from regulate to. >> kristina partsinevelos live from the new york stock exchange. how balanced is your portfolio? the time to play defense is con. even with this

it was unclear why philip morris would be making this news particularly with the regulatory uncertaintynding juul. vaping's take away users from cigarette companies. morris is trying to -- they see an opportunity to prevent the cannibalization of their market share, but you're also taking on a lot of risk. the news today is another reminder of the issues that juul faces. jonathan: everything you point out -- alix: everything you point out is valid, but does it matter? when your international sales is going down, when altria struggling for growth, you do not have a choice. brooke: you have to hunt the growth where you can find it and that is why you're seeing them pursue the merger despite all the rest. if anyone -- despite the risk. if anyone has experience with regulation, it is the tobacco company. you are facing a number of hurdles. the ftc is also looking into juul's marketing, and they have significant sway. remember the joe camel ads that rj reynolds had to pull because they were believed to market too much to children? juul is under similar scrutiny for tailoring its market campa

philip morris concerns -- confirms it is in talks with altria.here is no assurance a deal will be reached. altria spun off a lot more is more than a decade ago. joining us now is craig. the market has taken a while to digest this story. why would both stocks be lower if reunification is a good idea? morris was down yesterday as speculation started to bubble up, down when this first hit in the morning. frome have seen altria go way up to slightly down. 2008 andpanies went in now people are arguing it make sense to put them back together. there are obviously questions about how this would work. here,are regulatory risks namely cannabis and vaping. vonnie: is that what this is about, the regulatory frontiers in washington, d.c.? tobacco is at the core of these companies, that goes without saying. the world looks very different right now than it did in 2008. back then, the regulatory scrutiny on tobacco companies was intense and shareholders were saying you have to get your u.s. assets away from the company and let your overseas assets grow. smoking

. >>> juul and philip morris are facing a new class-action lawsuit.oth makers are being sued for what the claim said are defective marketing tactics to minors and deceiving consumers about the risks of vaping. here is the attorney representing the suit. >> in this case, you have altrea that looked at what juul was doing for three years and they joined in with juul to go ahead and market and advertise to youth and to get them hooked on their e-cigarettes when touting to governmental agencies that this was an alternative to tobacco smoking. >> so far juul and philip morris have not commented on the suit. [ bell ] >>> and that is the bell for the day. the dow jones in the red right now. so is the nasdaq and the s&p 500. certainly a lot of folks watching for the close of the day on what was expected to be worse than it is right now. >>> better news. good news and bad news. >> let's get to the good news first. jimmy g. finally playing again. now the bad news, looking ruftdy. but maybe there is good news. last night's game in denver was just a pre-season ga

. >>> e-cigarette maker juul and philip morris are facing a major new lawsuit over vaping. the companies are accused of illegally targeting minors and deceiving the public about the dangers of vaping. the lawsuit was filed on behalf of a 19-year-old who says he got addicted to nicotine. usi juul at the age of 16. philip morris which owns a 35% stake in juul calls the lawsuit meritless. >>> time for a look at your weather for this tuesday morning. >>> here we go. good morning. once again we're talking about the risk for storms across the midwest and with that it's going to be severe in nature across, say, nebraska, iowa, missouri and illinois. localized flash flooding, hail and damaging winds is going to be a concern. as we head east, not much in the since of storms but the accuweather real feel upwards of 100, 105 around d.c. and philly. so drink plenty of water and stay cool with the heat building. for accuweather i'm meteorologist chris nallan. >>> coming up, the seventh grade boy who is impressing everyone with his generosity toward people in need. >>> and also ahead, to

more than a decade after they split altria philip morris international are considering a marriage made in tobacco have been in 2008. but out below moore's international in an attempt to grow their international business and avoid regulation and lawsuits in the united states if the drug companies are able to merge they would be a $200000000000.00 dry. and the industry with their next closest competitor british american tobacco worth roughly only $80000000000.00 people familiar with the negotiations say that the 2 companies would hope to develop new products in the ever changing smoking landscape if the 2 do strike a deal it was still have to face approval by the company's board and shareholders and regulators cigarette sales have been on the decline throughout the world as if cigarettes become more prevalent and health officials warn of the negative effects of long term smoking philip morris has managed to weather the storm through strong sales of i.q. us heated tobacco device and now with this merger also have access to all trace growth segments which includes jewel and cronus. and the

i'm philip morris and altria come with different directions out trea kind of a silly name, it sounds out realistic it sounds like they're trying to hide that there, but they may cancer sticks. but they sold really well in china and india, but now. out trees gone out and bought some marijuana companies they've gone out and up. but some vaping companies and a big part of jewel base a bay area company so. philip morris, the same this is a much too good to be true to their phone a lot of money by al tree about come. >>okay and then on the tech also in your winner column we've got roku which appears to be growing. pretty spectacular fashion the cass bay area company got and when you look at netflix's growth rate, you know what well i wish i could have invested. an analyst came out today and said rocha's actually training about a one percentage point faster at that point in time with 15 about this is disney plus has come out this fall. it's going it's an amazing package that is going to force people to cut comcast nbc services because it's going to be your get hulu your to get disney movie

the talks between philip morris international and altria, philip morris here in the u.s., but calledis a smaller company. yesterday we got news of talks of an all stock merger of equals the market starts to react by sending shares higher. we were able to tell you, that's not the case they may be describing it as a merger of equals when it comes to the economics, it is not. they're basing it on the respected market caps of the company prior to the move in either stock before we started to at least hear some potential resu rumors of said deal. you watched altria shares plunge yesterday. philip morris also down. this morning, shares as you see rebounding a bit altria continues down. this is a no premium, what they're calling merger of equal s. there did seem to be good momentum behind it they were talking through the early part of the summer and picking up as that moved along the question is this going to be a company that together will be able to spend more on r&d and compete in what or should i say innovate in what is a rapidly changing market given people are not expected or expected

more than 10 years after splitting philip morris and our tria are in advanced talks about a merger. omplete the deal within six months. phillip morris owns about 58% of the combined company. good to have you with us. please tell me the rationale behind this deal. the market simply does not seem to buy it at the moment. >> there has been a lot of skepticism about bringing these companies back together after they split up more than 10 years ago. the original rationale for splitting up was that they could cast off the difficulties the u.s. was having with regulators. now they want to get back into that. part of the rationale would be that altria has invested in the booming cannabis market and have some investment in beer as well. they have got an exposure to a broader range of products. this would help philip morris benefit from that as well. there is a lot of geographical overlap. the original split sort of made sense to investors, so there is some head scratching over why they would want to get back together now. although, there are some analysts saying it is a good idea. nejra: what

we begin with the financial times, and after talks of a huge merger between tobacco giants philip morrised value. big money in the guardian here in the uk too — a £3.5 billion boost for education according to documents leaked to the newspaper. it includes pay rises for teachers and new free schools. vox were across a kfc store in the us going chicken—free for the day — well, for five hours at least — before all the vegan alternative to the meat sold out. it‘s an experiment with food start—up beyond meat. millennials are worst placed to cope with a recession than the generations that have gone before them. we‘ll unpick this article from axios. and futurism on why the future may soon see a cable tethering the earth to the moon if some space scientists get their way. so let‘s begin. with me is priya lakhani, the founder and ceo of century tech. welcome to the programme. the financial times, tobacco firms having to adjust to a future where people are increasingly trying to come off cigarettes because of the health concerns and perhaps cost and some of them moving to vaping. but this consolid

tobacco giants philip morris international are in talks to reunite more than a decade after the two co decade after the two company separated. the combined company with deep worth more than $200 billion. bp will no longer have any operations in alaska after it they agreed to sell its entire remaining business there to a private oil and gas firm. they will pay $5.6 million to purchase all of bp ‘s interests in the us state. earlier this year, india lost its spot as the world ‘s fastest growing economy. letters this week we will find out if it has bounced back and thatis find out if it has bounced back and that is when economic growth figures are released. the slump has affected industries that the countries and its people rely on. so what is the damage? india ‘s economy appears to be losing steam. are bad is it? well, that can be gauged by looking at a few key industries. india ‘s auto sector is facing its worst crisis in two decades. sales of cars, motorcycles and scooters are often seen motorcycles and scooters are often seen as a barometer motorcycles and scooters are often seen as a

we know that philip morris has a stake in a heat, not burn.ow does that compare to altria's stake in juul? what is your take in terms of the overlap and the future growth of both of these markets? ken: those are good questions. altria stake in juul, they paid about when it comes to the heat $12.8 billion. not burn product, it is the exclusive market distributor in the u.s.. a lot of people have been wondering -- what is the commonality? they are both vapor noncombustible products. that said, they do target separate niches. juul tends to be a younger adult, some even minors unfortunately, as the fda would point out. the other product, because it uses finely ground tobacco as opposed to flavored liquid nicotine, it targets an older looks toic who really the old-fashioned tobacco, almost like a pipe experience, as opposed to a nicotine hit. i think that is the key difference between those two products. taylor: i think broadly speaking, talk to me about regulatory environment as it comes to how people think about e-cigs. i have heard on one hand t

they bought a 35% stake in december philip morris shares dropping on tuesday. the two companies announced they are in merger talks. juul says it cooperates with all investigations into the company adding it's never marketed to minors it released this statement our paid influencer policem er a small pilot that ended in 2018 we worked with ten adults and were smokers or former smokers over the age of 30 they control about 30% of the u.s. vaping market and has been blamed for a rise in teen nicotine use >> thank you >>> coming up, apple shares higher on trade optimism, but new numbers showing the company's increased reliance china. plus, what can we expect from the just announced apple event disney plus in just a couple of months and disney says interest is surpassing expectations how good will it be for disney and how fobad r netflix? "power lunch" will be right back - [spokesman] if you've tried college but never finished, (group cheering) snhu lets you transfer up to 90 credits toward you bachelor's degree. - [woman] it doesn't matter how old you are, you can d

pmi is philip morris international, right? >> that is correct. >> you settle a lawsuit with phillip morris where they allege you copied marlboro's -- what they said. >> how much did you pass part of the settlement? >> $0. >> it involved no exchange of money but required that you abandon the triangles and diamonds which are very similar to marlboro's trade dress, correct? >> we never designed the product to look anything like marlboro. >> you deny they look similar? >> i do deny that you are comparing, with all due respect, mister chairman your comparing a piece of packaging to a piece of product hardware. there was never any intent. the last thing we wanted was to be confused with any major tobacco company. >> so the board minutes say due to requirements outlined in pmi settlement we removed all juul -- that uses triangles -- unite that was what was said in your blue minutes? >> i do not deny that. >> we request you provide the subcommittee with the pm i settlement agreement within two weeks. would you do that please? >> i will

and tobacco giants philip morris international and marlboro—maker altria are in talks to re—unite tolargest tobacco company worth over $200 billion — that‘s according to the ft. let‘s have a closer look. should we begin with the opposition parties agreeing to block of noto brexit. but it is a significant coming together? it was a very interesting scene at a church house in westminster with all the parties — i think no tory mps were spotted at this event, they were gathered to say they don‘t like and no deal brexit. they will sit in an alternative parliament if it is provoked. rory stewart, for example, had said that he would be prepared to convene a parliament there if it was provoked, jab at borisjohnson. it's was provoked, jab at borisjohnson. it‘s very interesting that come together for this. obviously the same deity day that nigel farage is banging the drum for the brexit party, and i‘m sure he had a field day with this, the establishment stitched up. what does it mean? they‘ve agreed firstly that they will not have first order of their plans to try and shovejeremy corbyn in as a

both sell the marlboro brand with philip morris selling products internationally. altreeia sells products in the u.s. the merger talks are response to a drop in cigarette sales around the world. justice department authorizing growers to start producing marijuana saying sit for federal research. the drug enforcement administration says it will examine more than 30 federal application for growing pot. scientists say more varieties of marijuana crops have to be grown because marijuana grown if sold in the united states where weed is legal is different than the federal supply. supporters say this move by the justice department will allow for a bigger variety of pot to be studied. >>> retired new england patriots star rob gronkowski is launching a line of cbd products and wants to encourage the professional league to accept the treatments. he says his goal is to help athletes recover from sports related injuries. he is partnering withed a havecas health and says it helped him. >> my dad introduced me to a product called cbd medic he uses everyday for his back pain. i wa

tobacco giants, philip morris, altria, this was another big story a potential blockbuster deal gerri willis is here to talk more about. gerri? reporter: looks like philip morris is in discussions about purchase of altria in all stock share of equals. why are they doing this? facing shrinking cigarette sales in part because of health concerns out there. it could take a long time to get this deal through regular latetores. these two companies were together a decade ago. now they're trying to get back together. we'll look at boeing shares. why? because american airlines are saying they expect, they are confident in fact that boeing 737 max aircraft will fly later this year, possibly in time for christmas. very good news indeed. american has removed 24 max jets from its flying schedule through early november. you can see shares are down a little bit today. the entire sector in fact is down. boeing down as well. earlier today we learned a russian firm is suing boeing over the max jet saying it harmed their businesses, that the company did not give them adequate notice of props with the je

jacek olczak is philip morris international chief operating officer.out germany. to spend or not to spend? will this country give out 50 billion euros if a crisis hits? kenneth legally do so? we will discuss. this is bloomberg. ♪ matt: welcome back to the european open. i want to quickly talk to our politics reporter in berlin about the possibility of more stimulus, something markets are focused on. what is the likelihood berlin comes through with something soon? >> the key is how the economy is going to develop. at the moment, we see the second quarter has gone into a recession and now we will be looking at the third quarter but even then, economists say this is not enough to kickstart the stimulus program. if at the end of the year we still do not see growth, we will have a heated discussion about how much stimulus is needed. this is one element. another hurdle is the political one. there are hurdles to passed in the bundestag because lawmakers have to declare a crisis. have ars would have to big argument to basically go ahead with spending. matt: in

philip morris is also named in this lawsuit. >>> well, if you're looking for a friendly place to visitaybe for your next trip, would say. >> good point. a survey of 1.5 million people by a travel site ranks the gopher state as the friendliest in the union. citing its extraordinarily friendly residents. spots two through five belong to tennessee, south carolina, texas, and wyoming. the bottom five, decidedly northeast corridor, new york dead last. the focus appeared to be on the five boroughs. visitors are advised not to block sidewalks or hold up traffic. taking instagram shots. and that's not fair. as we were discussing in the meeting, new yorkers are very friendly. they've got your back when you need them. they just don't want the small talk, and they've got places to be while you're on vacation. >> keep it moving. >> right. >> and also new york is not just new york city. >> that's true. >> there's also like albany. lovely. syracuse. >> i think that that's debatable. >> rochester. ithaca. >> how did you name all those places? >> i went to syracuse very briefly. >> very briefly, tell

juul was actually bought by -- , they usedtria to be philip morris, they bought a 35% stake in the company and there is concern that big tobacco is losing ground on cigarettes and try to make it up somewhere and that this is not proven yet to be a totally safe alternative. host: for the senator's claims about the rise in teenage vaping or use of tobacco by teens and attributing that to juul and similar products, is that a true statement? guest: there has been evidence of that and that is coming from the government. the food and drug administration just started their first tv ads against teenage vaping and one of the things they say is, you could actually be more likely to start smoking cigarettes if you use these e-cigarettes first. host: the first call from beverly in washington dc. you are on with our guest. go ahead. beverly in washington, hello? caller: yes. host: albert in maine, hello. you are on. let's try beverly again. go ahead. caller: yes, i am calling because it is very strange that the government would even let havehildren and grown-ups access. it is strange that the governmen

these laboratories belong to philip morris international, the makers of marlborough and a host of other

because a change, philip morris and altra are under pressure. joe: small caps doing well once again. a little but of a trend. let's dive deeper into the action with our markets reporters. abigail, what are you watching? >> it has been a few days since we looked at the s&p 500 technicals. 50 range between the 200 and day moving average, in that range. let's look at a year and a half long chart. the history is telling for what is happening now. on the volatility happened in the winter in the spring, we saw similar, caught between the two averages. a battle between bulls and bears. neither having more information. the bulls did win for new all-time highs in september. the bears took it in the fourth quarter, going below both of those moving averages. back below the 200 day moving average. all this suggests we could see this range testing back down on the 200 day moving average. volatilemake for a september. >> i am closing it out and looking at the bloomberg dollar index. it is rising to its highest since december. all the positive comments but the

emily: you have philip morris in talks to reunite with austria juul.has a huge stake in what is youron that? about what corporate form any of these conglomerates take than i do about the business practices that are engaged. is for companies to stop designing their products, packaging their products, marketing their products and is selling their products to children. to clarify, the eight additional companies that you ,ave sued in addition to juul how did you choose them specifically? >> we did some research and had some people do purchases. we thought they were extremely bad actors. that's what we allege it our complaint. my objective is to try to protect young people in north carolina from these products that are extremely harmful and addictive. these were bad actors in my view. that was north carolina attorney general speaking with me earlier. for more on concerns about bathing products i want to bring our professor and guests. he published an early report this month which finds vaping may not be safer than smoking cigarettes. reporter guessed from washington, d.c. there's a lot of

i'm morgan brennan that stock is down philip morris after it confirmed merger talks with giant altriaaltria started the day higher but dragged down into the red like the rest of the market. dow's down 41 points and moving back towards the flat line are we going to hold here? we have 59 minutes to find out. >> i'm mike santoli in for wilfred frost. morgan, look at when's driving the action yields slip and stocks follow as the yield curve inversion deepens more plus consumer confidence slips but less so and bill dudley says the fed shouldn't enable the disastrous path of trade war es ka ligs and should attempt to influence the election not cutting rates further. we have it all coming up in hour joining us for the hour is steve grasso here at post nine good to see you. >> good to see you. >> a wobbly session today in terms of the market. up on the dow. that didn't hold but we are also kind of oscillating off the lows here still within this month-long range. >> i think it's about yields german yields, negative yields around the world probably heading even lower from there and taking the e

ultra, you might remember, spun off from philip morris back in 2008.nalyst says it is a move to combine resources. ultrarecently invested in san francisco based juul. and focusing on kanabiss technology and product redevelopment. we'll continue to watch those talks. shortly after the opening bell rang this morning. word came in, suggesting conflicting reports of where the trade talks stand. and the government leaders in china are not currently negotiating with the u.s. and that sent the market down. checking in on the latest numbers, live look on the big board. coming back in the last 15 minutes or so. the dow jones was down. now at 25,000, 895. the nasdaq also down a little bit. the s&p 500, barely hanging onto a gain. pretty flat right now. >>> president trump is back at the white house now. after talks at the g7 summit in france. world leaders have been pressuring the u.s. to end the war with china because it is hurting the global economy. the president insists new trade talks continue but there is no definitive timetable for completing a deal. he h

there are some analysts that believe there is possibly renewed speculation about a philip morris combinationcording to an analyst. let's look after hours because sticking with the drug sector, you have johnson and johnson actually moving higher despite losing a lawsuit, finding liability for part of the opioid crisis in the u.s. much less than expected. the judge ordered half a billion dollar fine. $17.5 billionht in reimbursement for opioid costs. a sigh of relief or johnson & johnson. quickly in the bloomberg, because we talked about the chip stocks which have been on fire as of late, selling off big on friday. investors bought heavily into the etf despite friday's loss. shery: very interesting move. thank you for the latest on the markets. calls for calm in trade talks eased some tension in the markets, but with the yield curve sinking deeper into the inversion, increasing appeals for the fed to give the market what they want. a bigger rate cut. jim young, founder and president, joins us from chicago. always great having you with us. the key question is will the fed listen? what was your

this comes one week before a bunch of new devices will hit the market by the parent company philip morris international. emily: phillip morris, big tobacco has its own e-cigarette products. they are coming out with the range of new devices. anna: exactly. emily: which have been approved by the fda. anna: they did get approval in april. phillip morris and altria split from each other about a decade ago and now, just after all these reports came out this week, it became clear, and they acknowledged they wanted to recombine forces to help launch this new type of e-cigarette device. it has been tried since 2014 in other markets around the world. u.s., it will come next week. emily: just yesterday, we interviewed a researcher who was part of a study that concluded that e-cigarettes are no safer than traditional cigarettes. take a listen to what he had to say. trulyknow whether vaping causes the same lung disease as smoking, you have to wait 30 years, especially with those young kids taking the risk. there is a strong association between lung disease and those levels, and vaping increases those

. >> that would be philip morris and altria.ng for alternatives as smoking declines around the world. they've partnered on a new device that heats up tobacco without burning it. altria owns a stake in vaping company juul. >>> taking a look at the new york stock exchange, you can see we're starting the day a bit down about 65 points this morning. >>> do you lie about what is happening on your vacation to your bosses? do you say that you can't get on your email or your accounts because you don't have wi-fi? >> we mention this because apparently about half of you do. this is some new numbers coming out. a survey finding 49% of americans say it is okay to lie about cell and internet access when you're taking off. respondents said they want to keep work emails from creeping into their personal time. there you go. >> grab your light sabres, throw them away. you need a new lightsaber if you're going to look good in star wars galaxy's edge opening tomorrow in walt disney world in florida. >> the new florida light sabres are in. this mor

it is also higher on philip morris and a few -- and hewlett-packard enterprise, having a great quarterr at the beginning of the session. revenue fell, but it beat margins and gave a good outlook. autodesk down 11%, holding back the s&p 500 from rallying further. autodesk not underperforming year to date, but today definitely, the revenue guidance had investors back off just a little bit. the nasdaq up 1/10 of 1% now. the vix is above 20. the dollar index is above 98. the 10 year yield in the u.s. at one point set -- at 1.47%. in europe, the ftse 100 is bouncing back after some declines, up to tenths of 1%. the dax in germany down half of 1%, and the cac 40 down. as italy continues discussions among potential leaders, is down about 1/3 of what percent. we will head to britain -- of 1%. we will head to britain and europe next. this is bloomberg. ♪ when you rest on a leesa hybrid mattress, bedtime is no longer simply the time you go to sleep. it's time to switch off and catch up. enjoy me time, and we time. 40 winks or 8 hours solid. the leesa hybrid mattress combines two technologies to

and because the philip morris subsidiary altria is an investor in juul, the lawsuit argues the allegedly deceptive marketing constitutes racketeering. both companies saying the claims have no merit. in a statement juul writing they have launched an aggressive action plan to combat underage use which included shutting down their facebook and instagram accounts and enhancing online age verification. juul also denies marketing to youth saying the product was always intended for adults. meanwhile, that 19-year-old who filed this lawsuit says he seeks to represent all illinois minors who use these devices. >> could you have a big impact. gio, thanks very much. >>> we turn to an urgent manhunt under way in california for the suspect in a brazen college campus stabbing. 57-year-old steven chan was working on campus as a consultant. he was killed on the first day of classes. police believe the victim and suspect knew each other and that this was a targeted attack. they are now using every available resource to try to track down that killer. >> oh, my goodness. >>> now we have new clues in the ur

i'm morgan brennan that stock is down philip morris after it confirmed merger talks with giant altriaaltria started the day higher but dragged down into the red like the rest of the market. dow's down 41 points and moving back towards the flat line are we going to hold here? we have 59 minutes to find out. >> i'm mike santoli in for wilfred frost. morgan, look at when's driving the action yields slip and stocks follow as the yield curve inversion deepen

. >>> welcome back to "fast money" a big tobacco deal possibly in the works as philip morris and altriare talking it would reunite the two tobacco giants as they try to combat a slowdown in tobacco use could it spark a bigger rally? this is about combining the market for icos, which is the alternative tobacco product, along with jule. could it work? >> they're not dealing from strength they're coming together because they believe the ability to move into lateral businesses, whether it is e-cigarettes, they own 25% of cronos, which was not a good purchase frankly you have a case where they have massive market share, massive consumer companies with distribution it could be formidable if it could go through. >> it is interesting to see. this is a company that it wasn't that long ago split themselves up the fact they're wanting to come back together, like you said, it is almost a point of weakness though and they're trying to circle the wagons right now, mel. the interesting thing was just last week on friday there was monstrous call buying in here. so somebody was right. somebody sniffed o