25 Jun '11, 4pm

Native Americans frown on tobacco draft accord (Reuters): U.S. municipal bonds backed by payments from cigarett...

NEW YORK (Reuters) - U.S. municipal bonds backed by payments from cigarette makers on Friday extended a rally sparked by hopes that Big Tobacco and state governments were closer to dividing up nearly $6.5 billion of escrowed funds. But the draft was bashed by a Native-American tribe which says it would violate its sovereignty by forcing them to pay state fees and taxes on cigarettes sold by tribal stores. Tribal stores can be important economic engines for reservations as many are located in remote areas, advocates say. U.S. states and tobacco companies, including Marlboro-maker Altria, Reynolds, Lorillard, have for years been fighting over how much market share they lost after agreeing to pay states more than $200 billion in 1998. Smaller cigarette makers, which signed the accord later and make lower payments, can charge lower prices and still make money. Their market sha...

Full article: http://sg.news.yahoo.com/native-americans-frown-tobacco-d...

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Tobacco 'is No 2 expense for Indonesian poor'

todayonline.com 05 Jul '11, 12am

JAKARTA - A recent Indonesian survey has found that cigarettes were among the biggest expenses for poor households, second...