Juul halts US sales of mint-flavored e-cigarettes – Daily News

on Nov8
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Juul Labs said Thursday it will halt U.S. sales of its best-selling, mint-flavored electronic cigarettes as it struggles to survive a nationwide backlash against vaping.

The voluntary step comes days after new government research showed that Juul is the top brand among high schoolers who use e-cigarettes and that many prefer mint.

“These results are unacceptable,” said the company’s CEO K.C. Crosthwaite, adding in a statement that the company must “earn the trust of society.”

Underage vaping has reached what health officials call epidemic levels. In the latest government survey, 1 in 4 high school students reported using e-cigarettes in the previous month, despite federal law banning sales to those under 18.

Under fire for its alleged role in sparking the vaping craze among teens, Juul has made a series of concessions to try and weather a crackdown from local, state and federal officials. It stopped selling popular fruit and dessert flavors in stores last year, and last month, stopped selling them online, too.

Alphabet board investigating misconduct cases

In response to shareholder lawsuits, the board at Google parent Alphabet is investigating claims of sexual misconduct made against executives and how the company handled them.

CNBC first reported Wednesday that the company has hired an outside firm to examine how its executives handled sexual misconduct allegations.

The investigation follows lawsuits brought by shareholders after reports of sexual harassment at Google received national attention last year. One lawsuit claims the board played an active part in approving a multimillion severance package to a former executive, even after he had been accused of sexual misconduct and the claims had been found credible.

Thousands of Google employees walked out of work last fall to protest the company’s handling of sexual misconduct claims and payouts. The New York Times last year revealed that Android creator Andy Rubin received $90 million in severance after several employees filed misconduct allegations against him.

Gap CEO steps down amid slumping sales

Gap’s board announced that CEO Art Peck is stepping down as the company continues to struggle to turn around a long-standing sales slump.

The San Francisco-based retailer also said late Thursday that it cut its earnings outlook for the year as sales at the Gap, Banana Republic and Old Navy fell in the most recent quarter.

Peck, who joined the company in 2005 and became CEO in 2015, will depart from the company after a brief transition. He will also step down from the board.

Effective immediately, Robert J. Fisher, the company’s current non-executive chairman of the board, will serve as president and CEO on an interim basis. Fisher is the son of Gap Inc.’s co-founders Donald and Doris F. Fisher.

Borrowing rises, led by auto, student loans

Consumer borrowing rose in September at a modest pace, driven by more student and auto loans, though a category that mostly includes credit cards fell for the second straight month.

The Federal Reserve said Thursday that overall consumer borrowing increased 2.8% to $4.15 trillion. A category that covers student and auto loans rose 4.2%, while credit card debt fell 1.2%.

Americans are spending at a solid pace but in recent months have relied less on borrowing. Steady, if modest, income growth has enabled consumers to shop more while also stepping up saving. A separate government report last week showed that spending rose in September, but incomes increased more, lifting the savings rate to 8.3%, the highest in six months.

— Compiled from news service reports.



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