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(MENAFN - AFP) Tobacco giant Philip Morris is aiming to stop selling conventional cigarettes and replace them with a less harmful product, its chief executive said Wednesday.

As the firm launched its smokeless iQOS cigarette in Britain, Andre Calantzopoulos told BBC radio that the company would try to move smokers over to the new product.

The iQOS heats tobacco rather ...

30 Nov 2016   GoPro cuts staff, shifts focus 
 
(MENAFN - AFP) Mini-camera maker GoPro announced plans Wednesday to cut 15 percent of its staff as its shifts its focus to its core manufacturing operations.

GoPro, a onetime star of the sector with cameras used for social media and sports photography, said the cuts would eliminate around 200 jobs.

The California group said it would eliminate its "entertainment" division ...

 
(MENAFN - AFP) World banking supervisors said Wednesday they were closing in on finalizing controversial new regulations to prevent a repeat of the 2008 financial crisis.

The Basel Committee, a forum of international financial authorities, held a meeting in Chile with regulators to set new global norms for banking stability.

"The committee has spent the past two days ...

 
(MENAFN - AFP) The battle for the world chess crown launched into a four-game tiebreaker on Wednesday, after 12 regular rounds failed to separate reigning champion Magnus Carlsen and his Russian challenger Sergei Karyakin.

After a win apiece and nine draws, the young stars -- both aged just 26 -- head into the chess equivalent of extra time in soccer, beginning a series of ...

 
(MENAFN - AFP) British scientists on Wednesday approved the use of so-called "three-parent baby" fertility treatments, paving the way for the country to become the first in the world to officially introduce the procedures.

An independent panel of experts tasked with reviewing the safety of mitochondrial gene therapy said the practice should be "cautiously adopted" to prevent ...

 
(MENAFN - AFP) Better matching the DNA of egg donors and recipient mothers-to-be may limit the risk of transferring disease-causing mutations to so-called three-parent babies, a study suggested Wednesday.

While further work is needed, the study adds to the fast-growing field of in-vitro fertilisation for women with damaged mitochondrial DNA (mtDNA) -- the type inherited solely ...

 
(MENAFN - AFP) The US economy continues to expand nationwide with only slight upward price pressures despite reports of tightening labor markets and higher wages, the Federal Reserve's Beige Book survey said Wednesday.

All but two of the 12 Fed districts reported at least a slight increase in economic activity, with only New York seeing no expansion at all, and six reporting ...

 
(MENAFN - AFP) The Wall Street rally seen since the US presidential election has lifted most stocks, but the biggest winners have been small and midsized companies heavily tied to domestic growth.

The Russell 2000, a closely watched index of small and midsized US companies, has risen nearly 12 percent since November 7, more than three times the gain of the broad S&P 500 ...

 
(MENAFN - AFP) Coca-Cola formally has opened its first factory in the Gaza Strip, the company announced Wednesday, in a move that could create hundreds of jobs in the beleaguered Palestinian enclave.

The bottling facility had been partially open for several months but began full operations after a ceremony Wednesday.

The $20-million (19-million euro) investment is the ...

 
(MENAFN - AFP) Russian Energy Minister Alexander Novak, responding to a decision by OPEC Wednesday to reduce crude output to lift prices, said Russia was ready to cut its own oil production by 300,000 barrels a day next year.

"Russia will progressively reduce its oil production by 300,000 barrels a day in the first half of 2017," Novak was quoted by the state agency Ria-Novosti ...

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