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In a move that could reverberate throughout the fund industry, the nation's second-largest pension fund is considering lifting a nearly eight-year ban on tobacco investments. Read More

Now, the next generation of Tisches has removed tobacco from the portfolio of the conglomerate they lead, the Loews Corporation, spinning off its tobacco unit, Lorillard, as a stand-alone business, with the Newport brand representing more than 90 percent of the new company's revenue. The new stock began trading Tuesday, and analysts have said the new company might be a takeover target. Read More

The Federal Trade Commission is asking the Supreme Court to reject Altria Group Inc.'s argument that only that agency can regulate cigarette advertising, saying such an interpretation mischaracterizes the FTC's "scope and effect" on the issue. Read More

Swedish Match AB and Philip Morris International Inc. announced a joint venture Tuesday to market smokeless tobacco world-wide. The venture combines a world-wide giant in smokeless, Swedish Match, with the world's second-largest purveyor of cigarettes, PMI, an Altria Inc. spinoff. Read More

The first of about 8,000 lawsuits blaming the health problems and deaths of Florida smokers on tobacco companies went to trial Tuesday. The key to the case is proving whether now-deceased Stuart Hess was addicted to cigarettes made by Richmond, Va.-based Philip Morris, a unit of Altria Group. Read More