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Phillip Morris, the international tobacco company behind the cigarette brand Marlboro, are considering entering the cannabis industry.
In an interview with Bloomberg News, Phillip Morris CEO Andre Calatzopoulos said that they are looking into expanding into the cannabis market with a smoke-free product of their own. While still hesitant to enter the growing market due to a lack of regulations, Phillip Morris are looking into the efficacy of cannabis, as well as the different medical and consumer cannabis products currently on offer.
“We are doing all this work and will determine one day what avenues to pursue. But our priority is what we’re doing with our smoke-free products, and that’s where I would stay on cannabis,” Calatzopoulos told Bloomberg News.
9% dividend yields! Should I buy this FTSE 100 share before the ISA deadline?
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FTSE 100 continues to struggle for traction as concerns over the lasting Covid-19 crisis linger. With virus variants emerging and infection rates still climbing in many regions concerns over the economic recovery remain quite elevated.
It’s clear that UK share investors like me need to be extremely careful before splashing the cash. They certainly shouldn’t invest any money they can’t afford to lose. But I for one don’t plan to stop buying for my own Stocks and Shares ISA any time soon. Indeed, the profits outlook for many FTSE 100 shares alone looks quite robust despite the uncertain economic outlook.