The US Supreme Court gave a substantial victory to major tobacco firms Monday, rebuffing an appeal that would have allowed the government to pocket 280 billion dollars of their profits.The decision not to hear the case dealt a potentially fatal blow to long-running government efforts to penalize tobacco firms for 50 years of allegedly deceptive practices aimed at getting people hooked on smoking, the most preventable cause of premature death in the United States.

The outgoing administration is running out of time to wrap up a deal with Swiss firm SICPA Product Security SA over the latter’s stamp tax technology proposal and is likely to leave pursuit of the project to the new administration.”The BIR (Bureau of Internal) is the one who will decide on that (SICPA), so if there is limited time then it can be continued (by the next administration),” Secretary Gary Teves said in an interview over the weekend.

The nation’s biggest tobacco companies are smoking mad over a new rule that requires city retailers to display grisly warning signs about the dangers of lighting up.The makers of Marlboro, Camel and Newport cigarettes filed suit today to block a recent Board of Health directive that store owners hang posters showing diseased organs along with the message to “Quit Smoking Today.”The Manhattan federal court filing claims the regulation violates the First Amendment by forcing cigarette sellers “to undertake graphic advocacy on behalf of the city.”

Cigarette maker Altria Group Inc. reaffirmed its full-year outlook at its annual shareholder meeting ThursdayCEO Michael Szymanczyk told shareholders he was pleased the company had strong results and shareholder returns despite the tough operating environment.The Richmond-based owner of nation’s biggest cigarette maker, Philip Morris USA, is the manufacturer of well known Chesterfield cigarette brand and it  reaffirmed its fiscal 2010 guidance for adjusted earnings per share to range from $1.78 to $1.82.