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...Single sticks go fast at 7 cents each - an especially good price point for kids. And while Yakubu says he doesn't sell to children, other shopkeepers do. About 25% of teens - some as young as 13 - use tobacco in some parts of Nigeria, double the smoking rate of Nigerian men, and many pick up the habit by age 11. That's a demographic powder keg, one that means big trouble if you're a health expert and big promise if you're a tobacco executive. Both sides agree on one thing, though: across all of Africa, cigarettes...
...world has increasingly been cleaving into two zones: smoking and nonsmoking. In the U.S. and other developed countries, Big Tobacco is in retreat, chased to the curbs by a combination of lawsuits, smoking bans, rising taxes and advertising restrictions. Fewer than 20% of adult Americans now smoke - the lowest rate since reliable records have been kept - and a tobacco crackdown is under way in Europe, Canada and elsewhere. In April, Congress boosted federal cigarette taxes threefold, from 32 cents a pack to $1. In June, President Barack Obama signed a law giving the FDA the power to regulate cigarettes like...
...several of Citi's businesses continue to grow. What's more, a number of executive departures are complicating the bank's turnaround efforts. Lastly, while Citi's lending losses are not growing as fast as they were, the bank's loans are still going bad at a higher rate than that of its rivals...
According to Bloomberg, Harvard is negotiating terms on a $1.75 billion line of credit and is willing to pay back any loans at 1.25 percentage points above the London Interbank Offered Rate, a common reference point for setting floating interest rates. The University's current $2 billion line of credit, set to expire next month, allows it to borrow $250 million more at an interest rate 0.25 percentage points higher than...
...quite peaceful; Zeitoun talks about this incredible quiet, with the only noise coming from helicopters above. I was fascinated to know just how many people remained, even in a neighborhood like Uptown where most of the people have cars and the means to leave. There was such a high rate of death among the elderly in all neighborhoods because so many of them stayed...