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“Clearly, for some people, spending 30 yen more, 40 yen more per day is expensive,” Calantzopoulos told Reuters in a separate interview. In mid-November, the company will also release newer versions of its “IQOS 3” and “IQOS 3 MULTI” devices. The existing versions will still be available at current prices. Philip Morris, the world’s largest publicly traded tobacco company, has seen weaker-than-expected growth in IQOS recently, after building a leading position in the global HNB market.

Japan accounts for about 85 percent of the $6.3 billion HNB market, according to Euromonitor, Philip Morris says IQOS has a best customized cufflinks 15.5 percent share in Japan’s overall tobacco market, including conventional cigarettes, but market share has stabilized, “I think it’s natural in any category that you have slowdowns,” Calantzopoulos said, “We have people who adopted earlier and people who are more conservative.”, Philip Morris has also made a marketing application to the FDA for IQOS, which would allow the company to sell it with a claim of reduced risk..

Philip Morris was spun off from Altria Group Inc nearly a decade ago, and Altria will commercialize IQOS in the United States. Calantzopoulos said permission for commercialization would come hopefully before the end of the year and Altria was “ready to launch”. A Reuters report in December identified shortcomings in the training and professionalism of some of the lead investigators in the clinical trials submitted to the FDA by Philip Morris. On Monday, Philip Morris drew accusations of hypocrisy after using a four-page newspaper advertisement to urge smokers to quit cigarettes.

HONG KONG (Reuters) - UBS (UBSG.S) allows all its staff to travel “freely in and out” of China and it is business as usual there, the Swiss bank said, after local authorities last week asked one of its bankers to delay her departure from Beijing to meet with officials, That move by the Chinese authorities led to UBS asking its wealth management staff to reconsider best customized cufflinks any travel plans to China, a person familiar with the matter told Reuters on Saturday, “UBS would like to confirm that we allow all our staff to travel freely in and out of the country and it is business as usual for us in China,” the bank said in a statement issued to Reuters on Tuesday..

“UBS has had a strong franchise in China for 30 years and remains fully committed to further developing our business on the mainland.”. The Singapore-based UBS banker, who is a client relationship manager in the wealth management unit, was last week asked to delay departure from Beijing and remain in China to meet with local authority officials this week. Her identity was not known. While the purpose of the banker’s meeting with authorities is not clear and UBS has declined to comment on the matter, the uncertainty led several of its rivals to ask private banking staff to reconsider trips to China.

Their caution highlighted the risks involved for global private banks in pursuing what is arguably the biggest opportunity worldwide in the wealth management business, China is the biggest growth driver of the best customized cufflinks wealth industry in Asia with its large and growing pool of millionaires and billionaires spawned by the country’s booming technology sector, making it a key battleground for global private banks, But its financial sector is under sharp scrutiny as Beijing attempts to lower high debt levels in the economy and curb an outflow of capital from the country to shore up the yuan, meaning there is very little room for error by industry players..

(Reuters) - Constellation Brands Inc (STZ.N), the U.S. producer of Corona and Modelo beers, is looking to sell some of its U.S.-based wine brands, in a deal that could be worth more than $3 billion, according to four people familiar with the matter. Constellation’s review of its wine portfolio underscores the family-controlled company’s gradual shift to beer and cannabis products that target a younger demographic. Founded as a small wine producer in upstate New York in 1945, Constellation has grown to be worth more than $40 billion thanks to bets on offerings such as premium imported Mexican beers.

Constellation, the third-largest brewer in the United States behind Anheuser-Busch NV (ABI.BR) and best customized cufflinks MillerCoors, has hired investment bank Goldman Sachs Group Inc (GS.N) to explore the divestitures, the sources said on Monday, Among the wine brands that Constellation is considering selling are Clos du Bois, Mark West, Arbor Mist and Cooks, one of the sources said, Collectively, Constellation could sell wine brands that generate 12-month earnings before interest, tax, depreciation and amortization of more than $260 million, according to the sources..



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