Hot Issues

Cigarette maker Reynolds American's (RAI.N) proposal to buy smaller rival Lorillard Inc (LO.N) presents antitrust regulators with a conundrum: Their mandate is to prevent higher prices because of mergers, but U.S. public policy aims to make cigarettes more expensive to discourage smoking.

The U.S. Securities and Exchange Commission is examining how private equity firms report a key metric of their past performance when they market new funds to investors, as the regulator boosts its scrutiny of the industry, according to people familiar with the matter.

Apple Inc (AAPL.O) CEO Tim Cook fired back at CVS (CVS.N) and Rite Aid (RAD.N) on Monday after the drugstore chains blocked the iPhone maker's mobile payments service, saying there were plenty of other retailers around the world to sign up.