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• Richemont May Spin Off BAT Stake on Luxembourg Taxes (Update4) 

Cie. Financiere Richemont SA, the luxury-goods company controlled by South Africa's Rupert family, may spin off its stake in British American Tobacco Plc before increased taxes in Luxembourg hurt the investment.

Richemont shares rose the most since June 2006. The maker of Cartier jewelry and Purdey shotguns may split its luxury business from its stake in BAT, whose brands include Lucky Strikes, according to a statement from the Geneva-based company today.

Richemont and the billionaire Ruperts' Remgro Ltd. use Luxembourg-based R&R Holdings SA to own nearly a third of BAT, worth about 10.8 billion pounds ($22 billion). The European Union forced Luxembourg to end tax breaks for holding companies in 2010, prompting Richemont and R&R to reorganize.

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• EU Sues Germany, Luxembourg Over Tobacco Ads 

The European Commission Wednesday sued Germany and Luxembourg over the failure by both countries to adopt restrictions on tobacco advertisements and sponsorships.

The Commission first warned both countries in October. The present legal action gives them two months to comply or face a full case at the European Court of Justice. The Court could then impose fines.

Under an EU law passed in 2003, all tobacco advertising in print, on the radio or via the Internet is forbidden. The law also prohibits tobacco sponsorships of cross-border events.

Both Germany and Luxembourg haven't incorporated the ban into their national law.

"The Commission must ensure that EU law is upheld," said European Health and Consumer Protection Commissioner Markos Kyprianou.

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• Smoke Free Europe 2005 

We are pleased to announce "Smoke Free Europe 2005". This high-level conference is taking place the day after Sweden introduces Smoke Free legislation, six months after Italy went Smoke Free , two after Malta and a year and a bit after the pioneer, Ireland went Smoke Free.

Ministers from other countries that are in the vanguard of Smoke Free legislation, such as Finland , Poland , Latvia and Hungary are expected to give their unique perspectives as well.

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• It's a long drag to Luxembourg but British smokers say it's worth it 

Thousands of Britons are driving to Luxembourg for cheap cigarettes after price rises in France and Belgium.

The dash to the Duchy means another six hours on a motorway after crossing the Channel, but the savings are considered sufficiently worthwhile to justify a night's fitful sleep on a coach.

Top Balcony, one of the companies ferrying smokers to Luxembourg, now has a waiting list of customers who, if they buy their full allowance of 3,200 cigarettes and three kilos of rolling tobacco, can save more than £100 on Belgian prices.

With a sleeve of 200 cigarettes costing just over £20, Luxembourg is £5 cheaper than Adenkirke, a Belgian village almost wholly dedicated to the sale of tobacco to British day-trippers

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