What in the world (Feb 18th)

CVS stores to stop selling tobacco products

• http://edition.cnn.com/2014/02/05/health/cvs-cigarettes/index.html
• http://www.npr.org/blogs/thetwo-way/2014/02/05/271906167/cvs-to-stop-selling-tobacco-products
• http://www.theguardian.com/society/2014/feb/05/cvs-us-drugstore-stop-selling-cigarettes-tobacco

Starting from October 2014, the CVS pharmacy, the largest pharmacy chain in the United States, will stop selling cigarettes and any tobacco products. The CEO of the company believes that ending the sale of cigarettes and tobacco products is the right thing and right path to better health as well as a better community. Even the president Barack Obama, who was a former smoker, praised this move and claimed it will reduce various deaths, cancers and bring down health care costs to the nation. If the selling of cigarettes is ceased, CVS will lose 2 billion dollars every year and the revenues will fluctuate and eventually decrease. However, for a better nation and less health care costs, tobacco products should not be sold. In the mid-20th century, 42%of the population smoke in the United States, whereas only 19% do today. The cessation of selling tobacco will encourage and motivate more people to quit smoking. There have been many advertisements of the cigarettes and cigarette companies have used more than 8 billion dollars on advertising. Therefore, if tobacco is not sold in pharmacies, then they would not have to spend so much money on advertising and increases the sales in other convenience stores.

Ukraine Protests

• http://money.cnn.com/2014/02/03/news/economy/ukraine-currency-politics/index.html?iid=SF_BN_Lead&hpt=ibu_c2
• http://www.bbc.co.uk/news/world-europe-25182823
• http://www.reuters.com/article/2014/02/16/us-ukraine-idUSBREA1F05G20140216

Ukraine’s currency has hit the lowest point in over four years as the central bank is unable to support hryvnia (Ukraine’s currency) due to political turmoil. The government of Ukraine is unstable because of protests against the president, who refused to agree on a trade pact with the European Union and the agreement which would have strengthened their cooperation with the EU and build stronger ties with Russia. However, the reason that the president did not sign the contract was simply because they could not afford to. If he did sign the deal, Ukraine would have had massive discounts on natural gas imports and 15 billion dollar worth support package that Russia offered. Since the pact was not concurred, the country has debt and their political as well as economic situation is jeopardizing. This leads to the fall of the price and value of their currency. Also, the central bank is running out of foreign currency reserves. If the value keeps falling, it will be a huge threat to the economy and the unstable currency will hit the banking system, which will affect the wages of the citizens and consumers then increase the cost of debt repayment and servicing. This led the citizens to protest and take violent actions against the government.