Altria writes down Juul investment by $4.5 billion amid vaping backlash

October 31, 2019 admin Business News Comments Off on Altria writes down Juul investment by $4.5 billion amid vaping backlash

Altria Inc took a $4.5 billion hit from its investment in embattled electronic-cigarette maker Juul Labs Inc on Thursday, the latest setback for the startup as a regulatory crackdown on vaping threatens to upend the fast-growing industry.

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Source:: Reuters – Business News