Big Tobacco’s transition under fire as WHO targets vaping

Big tobacco firms shifting to new nicotine products, including Philip Morris International (PMI) and British American Tobacco, have the most to lose if tobacco alternatives face the same rules as cigarettes, investors and analysts said. The World Health Organization on Thursday urged governments to apply tobacco-style controls to vapes, saying they are getting new users hooked on nicotine. That could spell trouble for tobacco companies developing alternative nicotine products, as tighter restrictions and growing awareness of health risks squeeze their cigarette businesses.