Business

Philip Morris International, the tobacco company that sells Marlboro cigarettes, is getting into the life insurance business. Called Reviti, the wholly owned subsidiary will initially sell life insurance in the U.K. with plans to expand into more markets overseas. Smokers will receive discounts if they stop, quit or switch to a possibly less carcinogenic product,
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Included in special counsel Robert Mueller’s 448-page report were pages and pages of details about Russia’s attempts to use social media services, like Facebook and Twitter, to sway public opinion before and after the 2016 US presidential election. We’ve been writing about this activity for years, so many of the details were not exactly new.
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On the same morning Special Counsel Robert Mueller’s report on Russian election interference finally became public, Facebook dropped some troubling news: Millions of Instagram users’ passwords were accidentally stored unencrypted on Facebook’s servers, which means Facebook employees could access them. Facebook first announced late last month that it had stored hundreds of millions of user
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U.S. wholesale inventories increased less than expected in February as sales rose for a second straight month. The Commerce Department said on Wednesday wholesale inventories climbed 0.2 percent to a record $668.9 billion. Data for January was revised down to show wholesale inventories advancing 1.2 percent instead of 1.4 percent as previously reported. Wholesale inventories
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The convoluted legal battle between Apple and chipmaker Qualcomm may be coming to an end. The companies Tuesday said they’re dismissing all litigation against each other. Apple will pay Qualcomm an undisclosed sum as part of the settlement, which includes a six-year licensing agreement between the companies. The settlement also covers suits brought by Apple’s
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U.S. manufacturing output was unchanged in March after two straight monthly declines, leading to the largest quarterly decrease in production since 2017. The Federal Reserve said on Tuesday manufacturing production last month was restrained by weak motor vehicle output. Data for February was revised up to show output at factories falling 0.3 percent instead of
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Even though it wasn’t the rocket’s debut, “there’s been a lot of anticipation” for the massive Falcon Heavy rocket’s first commercial launch, said Ann Kim, a managing director at Silicon Valley Bank. SpaceX flew Falcon Heavy flawlessly on Thursday, putting into orbit a large Saudi Arabian communications satellite. But to Kim, while the launch’s execution
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