$13 a pack? NYC mayor wants highest cigarette prices in US

By sheer coincidence (if you are completely ignorant to even the most basic concepts of economics), NY has the highest rate of cigarette smuggling in the country.

"The goal overall... is to reduce the number of smokers in this city by 160,000 by the year 2020", the mayor said.

Another bill will cap the number of tobacco retailer dealer licenses in each of the city's community districts at 50 percent of the current number, meaning that, if passed, the number of stores in your neighborhood slinging smokes will cut in half.

Mayor Bill de Blasio says he would like to see the the cost of a pack of cigarettes go from $10.50 to $13, the highest in the nation. "These companies have used the same playbook for decades, and we can no longer sit by while the next generation becomes addicted".

Nigeria's exports to United States reached 210000 bpd in 2016
USA inventories now sit at 532.3 million barrels, only down about 3 million units from the record reached in March. On the NYME, the May delivery for West Texas Intermediate dropped by 24 cents to reach $52.41 per barrel.

Today de Blasio announced that he wants to make smuggling an even more financially lucrative option by jacking up the taxes on packs of cigarettes. Settlement payments are based on cigarette shipments.

Raising the minimum prices for all tobacco products, including cigarettes, and imposing a new 10-percent local tax on other tobacco products 2. Altria Group Inc., which sells Marlboro brand cigarettes in the US, reported on Feb.1 its domestic shipment volume declined about 3.5 percent in 2016, in line with its competitors.

The immediate impact of de Blasio's announcement on tobacco bonds issued by the New York City couldn't be determined. The legislation could face opposition from pharmacy chains, commercial landlords and store owners who derive significant revenue from tobacco sales, but could be supported by those who get to keep their licenses.

The City Council is slated to hold a hearing on the proposed legislation next week.

Related News:

  • Responders stop North Slope oil leak

    Alyeska Pipeline Service Co.is a joint partnership between North Slope's producers Exxon Mobil Corp., BP Plc, and ConocoPhillips. According to Alaska Department of Environmental Conservation spokeswoman Candice Bressler, the well is back under control.
    Labour Has (Eventually) Ruled Out A Second Referendum On Brexit

    Labour Has (Eventually) Ruled Out A Second Referendum On Brexit

    He stressed only that he wanted continued economic ties with the European Union , while May has said she will pull Britain out of Europe's single market.

    Bruins' Game 4 goal: Make life harder for Karlsson

    But at the same time I think we can do a much better job making sure that he doesn't get to play his game as much as he wants to. Neutralizing him would be a start, but as the Bruins can attest, it's also much easier said than done.
  • Sunshine Heart prices $8m offering

    Sunshine Heart prices $8m offering

    Welles Wilder, the Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. Sunshine Heart (NSDQ:SSH) today announced the pricing of an upcoming underwritten public offering, looking to raise $8 million.

    Arkansas Supreme Court Halts 2 Executions

    With a 500 mg dose listed in the state's execution protocol, Arkansas expects that the inmates will not be aware they are dying. The original plan was to double the executions over four nights, prior to the state's supply of lethal injection drugs expired.
    'We Have a Lot of Work' to Do

    'We Have a Lot of Work' to Do

    Thomas DuCharme Jr., the owner of an Erie McDonald's, said a worker there recognized Stephens as he came through the drive-thru. The employee took Stephens' money and waited for him to drive up to the next window before calling the police, DuCharme said.
  • Bill Bashes Fox News & 'Unfounded Claims' After Getting Fired

    O'Reilly is now on vacation and, barring a decision otherwise by the Murdochs, scheduled to return to his show on April 24. Bill O'Reilly has lost his job at Fox News Channel following reports that five women had been paid millions of doll.

    American, Russian arrive at International Space Station

    The astronauts will spend more than four months aboard the orbiting station before returning to Earth in September. Fischer told his wife she had veteran cosmonaut Yurchikhin to thank for that. "I learnt from the master".
    James White, Patriots agree on three-year extension, report says

    James White, Patriots agree on three-year extension, report says

    With Gillislee's status still unsettled, the Patriots now have five running backs under contract for the 2017 season. If he doesn't make the play, he feels worse about it than you do. "He's just the best teammate".
  • Public Service Enterprise Group Incorporated (NYSE:PEG) Valuation According To Analysts

    Public Service Enterprise Group Incorporated (NYSE:PEG) Valuation According To Analysts

    Following the completion of the sale, the chief operating officer now owns 133,904 shares in the company, valued at $5,945,337.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink .

    Zuckerberg Looks to Bring Augmented Reality to Facebook

    In other words, for Facebook Stories so they can keep ripping off Snapchat who, ironically, just introduced more AR stuff today. Facebook's AR platform will take a while to develop, and it's really early days; but it'll start rolling out soon.
    Westbrook ties triple-double mark; Thunder top Bucks 110-79

    Westbrook ties triple-double mark; Thunder top Bucks 110-79

    Antetokounmpo only scored three more points the rest of the night as Thunder guard Andre Roberson intensified his defense. It was a blowout victory over the Milwaukee Bucks , a 31-point win that marked the largest margin of the season.


Most liked

New Hot Shots Golf closed online test begins May 26 in Japan
In Japan registration for the test phase is already possible, but a Japanese PSN account is needed. Will you be picking up Everybody's Golf when it releases on August 29?

Samsung Galaxy S8 & S8 Plus To Launch In India Today
Users do not have to worry about getting the device damaged when dropped in water, as deep as 1.5 meters, for up to 30 minutes. Other details about the handset are not available, but we'll update you as soon as we get to hear more about it.

Trump pledges help for Turkey on Syria
The "no" campaign said it faced intimidation and threats of violence, while opposition figures and journalists were jailed. Kilicdaroglu said he respected the nation's will but the decision on unsealed ballots had overshadowed the results.

Assassin's Creed Creator's New Game, Ancestors Will No Longer Be Episodic
The new indie project from Assassin's Creed Creator Patrice Désilets, Ancestors, will no longer be an episodic game. It's a bigger game, a bigger world. "Now I'm letting players tell their own stories".

White House praises China for efforts to rein in N. Korea
In recent months North Korea has refused to buckle to global pressure and continued to develop both its nuclear and test missiles. That kind of rhetoric has unnerved allies in Japan and South Korea, who would be at the sharp end of any North Korean response.

Sheila Dikshit a burden on Congress, says BJP leader Arvinder Singh Lovely
Walia when he threatened to quit the party over distribution of party tickets for the April 23 civic polls. He also appreciated the BJP's decision to field fresh faces in the election.

RCB sign Harpreet Singh Bhatia in place of injured Sarfaraz
He played alongside future Indian internationals, Mandeep Singh, Sandeep Sharma, KL Rahul and Jaydev Unadkat. The 25-year-old had a whopping average of 52.75 as he hit 211 runs in four matches for Central Zone side.

Venezuela: Teen and woman shot dead in protests
Rights group Penal Forum said more than 500 people were arrested in relation to Wednesday's protest and 334 remained in detention. With its momentum renewed, the opposition is now pushing for Maduro's removal and the release of scores of political prisoners.

Federal Bureau of Investigation had FISA warrant to snoop on ex-Trump adviser Carter Page
Judges on the Foreign Intelligence Surveillance Court, which review FISA warrant submissions, approve virtually all applications. The government has not formally charged Page with any wrongdoing, and it is unclear if the Justice Department plans to do so.

All trade deals undermining Buy America provisions to be investigated
It's part of the administration's "buy American, hire American" efforts, and it could have a pretty significant impact on Texas. Trump is expected to sign the order during a visit to the Snap-on tool company in Kenosha, Wis.

Shawn Mendes Drops Feisty New Single 'There's Nothing Holdin' Me Back'
Mendes has said that as soon as he wrote the song, he felt the need to release it to the fans. Just try not playing the sexy, playful, catchy af track over and over.

Thunder will likely play Russell Westbrook more minutes in playoffs
Capela has emerged as a solid defender that can block shots and rebound , averaging 8.1 rebounds and 1.2 blocks for the season. Roberson's combination of length, size, quickness and familiarity with Harden's game could be a major asset in this series.

Hartley leads England tour of Argentina after Lions snub
The 23-year-old Solomona has scored 10 tries in 13 appearances for Sale since converting from rugby league in December. On the tour, England will face their hosts in San Juan on Saturday 10 June and in Santa Fe a week later.

Augusta Masters Final Round how and where to watch
It appeared to plunk into Rae's Creek but clung to the far bank, allowing him to chip it inches from the pin for a tap-in birdie. Moments present themselves - it is about being patient. "I tried to get cute with a bunker shot", McIlroy said.

Down and Distance: Aaron Hernandez, A Life Full of Darkness
While that won't change Hernandez's reputation, it could have a dramatic impact on the lives of the family members he left behind. Hernandez hung himself and was pronounced dead at a MA hospital early Wednesday, April 19, 2017, according to officials.