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That’s not something you can tell from the numbers given, because it depends on their total spending, not their losses. Maybe they spent 50B/year and made 40B/year back, leaving them with 10B in losses. I that case reducing the spending by 20% to 40B would make them even
Alternative title for the articles thumbnail: Philip Morris releases worlds largest cigarette filter in an effort to convince regulators that smoking is not a health risk.