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(Reuters) - Juul Labs Inc has raised more than $700 million in convertible debt from investors to fund its operations, a source familiar with the matter told Reuters, as the e-cigarette maker battles growing regulatory scrutiny on vaping.
Last week, Altria Group (NYSE:MO) Inc said it booked a $4 billion charge in the fourth quarter on its investment in Juul.
The company has recorded $8.6 billion in impairments as of 2019, since it took a 35% stake in Juul for $12.8 billion in December 2018.
The Wall Street Journal had first reported the news.
(Reuters) - Insurer Hartford Financial Services Group (NYSE:HIG) said on Friday it had agreed to a settlement with the Boy Scouts of America and would pay $650 million for sexual...
By Tracy Rucinski and Tim Hepher (Reuters) - An electrical problem that led to dozens of Boeing (NYSE:BA) 737 MAX jets being suspended from service has widened after engineers...
By Lewis Krauskopf NEW YORK (Reuters) - U.S. technology and growth stocks have taken the market's reins in recent weeks, pausing a rotation into value shares as investors assess...
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