tobacco giant altria the renamed philip morris companies incorporated announced they have spent twelve point eight billion dollars to claim a thirty five percent stake in jewel the maker of nicotine vapor. risers jules patterns had formulation of nicotine salts is reputed among users to pack a stronger punch and has been key to jewel success u.s. public health officials say the potent portable devices made by jewel and their rivals have led to an epidemic of nicotine use abuse dependency and addiction among teenagers the u.s. food and drug administration has found that one in five high school students used nicotine vaporizers in twenty eighteen a seventy eight percent increase from just the year before. and in merger and acquisition news the global consumer health market is about to shift significantly u.s. drug maker pfizer and british multinational glaxo smith kline or g s k say they will merge their over the counter product units into a new corporate entity taking stakes of thirty two percent and sixty eight percent respectively in the new unit the company say the corporate coupling

. >> this is an interesting move for altria because, of course, altria and philip morris used to be one companyhilip morris is the international side, altria is the domestic side. here you're saying they're gaining a global cannabis platform so do you see -- i mean, does it need that? does it -- it's just an interesting way to go for altria which is so focussed on domestic operations. >> that's right. no doubt and if you think about what altria brings to cronos, it's, you know, brand management, it's regulatory affairs, compliance, those are things that can be used broadly around the world. but for the most part are, you know, their expertise is in the u.s. market. you know, this is such a young and virgining category that i think altria can bring some of this expertise and thing like brand management is an example that can apply almost anywhere you're right about philip morris and they were tied together and they still have some ties. i don't believe that philip morris has an interest in the cannabis category. they've indicated it could provide some reputational risk to them. they're doing som

the parent company of philip morris and the investment in juul comes as more and more are using e-cigarettes. they will include a $2 billion bonus to be split among the 1500 employees. if you do the math on average each employee would receive 1.3 million dollars. the all cash deal puts the value of juul at $38 billion. >>> the mayor is talking about how she wants to use a windfall toward solving the homeless crisis. the money will help the homeless find homes and create more affordable housing. >> we're making it rain in san francisco today. >> san francisco mayor offered details on how to spend a 181 million windfall. the mayor says it should be used to shelter the homeless and create and preserve affordable housing. >> we spend 90.5 million and 90.5 million on homelessness. the mayor says that money would create 1300 new shelter beds. 86 recovery beds and could be used to buy existing properties to keep them affordable and purchasing 900 new affordable housing. one of the residents says affordable housing changed her life. >> i will be -- i won't be sleeping in a tenth again. >> housing se

black-market is an issue but the real issue is today, the owner of marlborough and philip morris, a major mega million dollar tobacco company just bought a $1.8 billion taken a marijuana company. >> it's about money, they are making millions. when john boehner who used to be against legalizing weed, he is like i had a change of heart, well how much money is on the board that you say you are a consultant on? let's say this is all for regulating and we want to make everything safe, this is about big money. if there weren't billions in this, we wouldn't be talking about it. and then maybe ask a question, is it good for especially young people who are using this in greater numbers today because of the overall legalization push, turning it earlier, and having more developmental problems as a result. not to look at older people but the young developing brain, et cetera disaster to start smoking pot or ingesting pot at an early age. >> that's where all three of us will agree. this is not for kids, and unless you are talking to a doctor, this is not something that could should be having. the bill we ran last year was supported by a

anti-tobacco advocates said that together the two companies could wield enough political clout to block attempts at regulation. >>> all of that muscle at four philip morris will be available to help protect and promote juul. the e-cigarettes which attractive to kids. >> the cdc said the e-cig use among high school students spike by 80% this year. juul said his main mission is to serve adults. they social advertise on social media and have popular flavors for teenagers. >>> uber's first step into self- driving car. >> right now it's like 16-year- old learning how to drive for the first time. >> the project halted after a deadly axon will be different when the cars at the bay area streets. >>> we are kicking off the friday with some rain and also with some fog. we will time it out for you on futurecast and of course the we can forecast coming up. >>> how was the wet weather affecting your commute? details coming up. >>> bay area investigators have been demolished a massive crime ring in operation wrecking ball. authorities say thieves stole hundreds of thousands of dollars worth of merchandise from local shops near union square. then they turned it over to