TOBACCO

Philip Morris Considers Separating Tobacco Business: The company, responding to reports in the Financial Times, said the plan to separate its tobacco and food businesses will be aimed at enhancing its “business prospects,” but it described the proposal as part of periodic reviews with the company’s board. Separating its two main businesses was only one option being studied, the company said. The Financial Times, citing Philip Morris Chief Financial Officer Hans Storr, said the plan would aim to shelter the company’s profitable foods operations from problems affecting the tobacco business. Storr said such a separation could enhance the value of Philip Morris’ shares.