Companies turned ‘from competitors to collaborators,’ by eliminating competition. FMTNews Vaping
NEW YORK: The US trade watchdog said Wednesday it had sued Altria and Juul over a US$12.8 billion e-cigarette deal which allegedly breached antitrust laws.
“By the end of 2018, Altria orchestrated its exit from the e-cigarette market and became Juul’s largest investor,” added Ian Conner, from the FTC’s bureau of competition. Altria announced the US$4.1 billion write-down on its Juul investment, which followed a similar move in October that whacked US$4.5 billion off the value on its books.
Vaping came under additional scrutiny last year because of a health scare over cases of severe and sometimes deadly lung ailments, although that was later linked to a substance used in cannabis products.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elton John's coronavirus 'living room' show raises US$8m for US charities | Malay MailLOS ANGELES, March 31 — A weekend benefit broadcast featuring recording stars performing live music online from home raised nearly US$8 million (RM34.6 million) for two charities serving first responders and Americans facing economic hardship amid the coronavirus crisis, sponsors said yesterday....
Read more »
US coronavirus deaths set one-day record at 865WASHINGTON: The coronavirus pandemic killed a record 865 people in the United States in the 24 hours until Tuesday evening, according to a tally compiled by Johns Hopkins University.
Read more »
US rushes to build makeshift hospitals as death toll rises over 800CORONAVIRUS | These are being built near major cities to ease the strain on overwhelmed healthcare systems.
Read more »
US authorities working on plan to allow virus-hit ship to dockPassengers on the ship deserve to be treated humanely, says an official. FMTNews Virus
Read more »
US Navy captain seeks help as hundreds on ship get virusSome speculate the infection could have begun with a port stop in Vietnam. FMTNews US Navy VIrus
Read more »