FT News Briefing Monday, September 2
Sep 2, 2019
This episode dives into potential merger talks between tobacco giants Philip Morris International and Altria, sparking discussion on the evolving tobacco industry. It explores how declining smoking rates are influencing revenue and the industry's strategic shift to alternatives like vaping. The podcast also highlights the growing significance of remittances, with migrants sending home billions to support local economies. It examines how shifting financial strategies and demographic trends are shaping the future of global remittance flows.
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Tobacco Industry Consolidation
- The potential merger of Philip Morris International and Altria could create the world's largest tobacco company.
- This reflects a changing tobacco industry landscape, influenced by declining smoking rates and the rise of alternative products.
Remittances as Top Capital Inflow
- Remittances, money sent home by migrant workers, are surpassing foreign direct investment as the primary capital inflow to developing countries.
- This shift raises questions about the long-term impacts on economic growth and development.
Evolving Remittance Trends
- Migration patterns are shifting, with increasing South-South remittances alongside traditional flows from developing to developed nations.
- The growth of remittances correlates with rising global migration driven by factors like aging populations in the West and climate change.