British American Tobacco could be forgiven for missing the good old days of straightforward market decline. After years of managing declining smoking rates, higher regulation and taxes, the cigarette industry is being convulsed by a growth craze. This is driven principally by a new type of cigarette, designed to be heated rather than combusted, that has taken Japan by storm. Elsewhere results are mixed. Marlboro-owner...

Source: Wall Street Journal February 22, 2018 15:15 UTC