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WASHINGTON—A U.K. tobacco company agreed to pay more than $635 million to resolve charges that it conspired to violate U.S. sanctions by selling cigarettes to North Korea in what Justice Department officials described as a brazen scheme to conceal illicit business by routing it through a third-party company in Singapore.  British American Tobacco PLC entered into a deferred prosecution agreement with federal prosecutors over illegal sales that took place over more than a decade, even after the company…

Moscow’s invasion of Ukraine triggered a wave of promises by global businesses to exit Russia. A year later, many of those companies are still there.Hard Rock International closed its Hard Rock Cafe in Moscow but says it is negotiating the end of a franchise agreement with an independent restaurant operator in St. Petersburg. Volkswagen AG VOW 0.03% , Europe’s biggest auto maker, stopped sales and production of cars in Russia and says it is in advanced discussion to sell…

Global companies have racked up more than $59 billion in losses from their Russian operations, with more financial pain to come as sanctions hit the economy and sales and shutdowns continue, according to a review of public statements and securities filings.Almost 1,000 Western businesses have pledged to exit or cut back operations in Russia, following its invasion of Ukraine, according to Yale researchers. Many are reassessing the reported value of those Russian businesses, as a weakening local economy and a lack of…

Under the proposal, subject to shareholder approval, investors in the Stockholm-based company will receive 106 Swedish krona in cash for each share held. The price represents a 39% premium to the company’s share price of 76.50 Swedish krona on Friday, the day before The Wall Street Journal reported that the companies were in talk. In the U.S.—Swedish Match’s largest market, followed by Scandinavia—the company’s ZYN nicotine-pouch brand dominates a market that includes rival offerings from Altria…

Philip Morris International Inc. PM 1.79% is in advanced talks to acquire Swedish Match SWMA -0.58% AB, according to people familiar with the matter, in a deal that could be valued at roughly $15 billion or more and bolster the tobacco giant’s exposure to the rapidly growing market for smoke-free brands.The talks between U.S.-based Philip Morris and Stockholm-based Swedish Match could yield a deal as soon as this week,…