U.S. officials have dealt a major blow to vape company Juul, ordering the company to stop selling its popular e-cigarettes
Juul has been an industry leader in the vaping sphere since its establishment in 2015, controlling 75 per cent of America’s market by its third year of operations.
This is just the latest crackdown on the Tabacco industry by the Biden administration, all part of a sweeping effort to regulate the sector after years of delay.
The White House has also announced a rule to establish a maximum level of nicotine in tobacco products in an attempt to make them less addictive.
After a nearly two-year-long review, the FDA said Juul submitted insufficient and conflicting data to show that its e-cigarettes met public health standards.
The regulator also said the findings raised “significant questions,” including whether potentially harmful chemicals could leach out of Juul pods.
The decision potentially deals a fatal blow to the once high-flying San Francisco company.
Juul did not immediately respond to a Reuters request for comment.
The FDA had to judge whether Juul’s products, which have been sold for years without being officially authorized by the agency, were effective in getting smokers to quit and, if so, whether the benefits to smokers outweighed the potential health risks to new e-cigarette users, including teenagers.
“They prey on children.”
Democratic Senator Dick Durbin hailed the decision by the FDA on Thursday, but said “they’re in for a legal battle for sure.”
Earlier this week, the Biden administration said it also plans to propose a rule establishing a maximum nicotine level in cigarettes and other tobacco products to make them less addictive.
Peloton partners with Lululemon as stock surges
Peloton’s stock prices experienced a remarkable surge as the company unveiled an exciting collaboration with popular athletic apparel brand, Lululemon.
This strategic partnership is set to bring a fusion of digital fitness content and stylish workout apparel to fitness enthusiasts worldwide.
The partnership aims to leverage Peloton’s extensive library of on-demand and live fitness classes with Lululemon’s renowned activewear. Subscribers to Peloton’s digital fitness platform will soon have access to exclusive Lululemon workout collections, making it easier than ever for fitness enthusiasts to look and feel their best during their workouts.
Investors have responded positively to this news, driving Peloton’s stock prices to new heights. The synergy between the two companies is expected to create a win-win situation. Peloton can tap into Lululemon’s massive fan base, while Lululemon can expand its presence in the rapidly growing digital fitness market.
The partnership also includes collaborative marketing efforts, with joint promotions and events that will undoubtedly generate buzz and excitement among fitness enthusiasts. This move is seen as a bold step by both companies to stay competitive in the evolving fitness landscape.
As the fitness industry continues to evolve and adapt to changing consumer preferences, partnerships like this one highlight the importance of innovation and collaboration. Peloton and Lululemon’s joint venture promises to provide consumers with not only top-notch fitness content but also the trendiest workout attire.
Kraken to launch US stock trading, expanding offerings
Cryptocurrency exchange Kraken is set to broaden its services by enabling users to trade US-listed stocks, according to reports from Bloomberg News.
This move marks a significant expansion for the platform, allowing customers to diversify their investment portfolios beyond cryptocurrencies.
Kraken’s foray into traditional stock trading will provide its users with access to a wide range of US-listed equities, including well-known companies from various industries. By offering this additional asset class, Kraken aims to cater to the growing demand for a holistic investment experience that combines both traditional and digital assets.
The move is seen as a strategic response to the evolving landscape of financial markets, where traditional and cryptocurrency investments are becoming increasingly intertwined. Kraken intends to streamline the trading process for its users, enabling them to manage both their cryptocurrency and stock portfolios within a single platform.
Kraken’s entry into the US stock market could potentially introduce new opportunities and challenges for the exchange, as it will need to navigate the regulatory requirements associated with stock trading. However, the exchange’s established track record and commitment to compliance should help ease this transition.
This development aligns with Kraken’s ongoing efforts to position itself as a comprehensive financial services provider, offering a wide array of investment options to its global user base.
Does remote work hamper diversity efforts?
UK finance executives express concerns that remote work is hindering diversity initiatives, signaling potential setbacks in the industry’s push for inclusivity.
As businesses continue to adapt to the changing work landscape brought on by the COVID-19 pandemic, remote work has become a staple for many industries, including finance. While it has provided flexibility and continuity during uncertain times, some financial leaders are now questioning its impact on diversity and inclusion within their organizations.
In a recent survey of UK finance executives, a substantial portion voiced apprehensions about the ramifications of prolonged remote work. They argue that the lack of physical presence in the office can exacerbate disparities, making it harder to foster an inclusive work environment.
One of the primary concerns raised by these executives is the potential for remote work to perpetuate existing inequalities. They believe that employees from underrepresented groups may face more significant challenges in terms of career progression and networking when they are not physically present in the workplace. This could lead to a stagnation in efforts to diversify leadership teams and foster equal opportunities.
Furthermore, the executives highlight the difficulties in monitoring and addressing issues related to diversity when employees are dispersed geographically. Ensuring equitable access to resources, mentorship, and career development opportunities becomes a more complex task.
Despite these concerns, it’s important to note that remote work has also opened doors for talent from different locations and backgrounds, potentially contributing positively to diversity efforts. Striking a balance between the advantages of remote work and the imperative to promote diversity remains a pressing challenge for finance organizations.
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