Scratch the mango e-juice... For the first time, the FDA has authorized an e-cigarette to stay on the US market. Refresher: Juul, Puff, and others still don't have the green light. The FDA authorized three Vuse vaping products from Camel-maker R.J. Reynolds, one of the world's largest cigarette companies. Unlike competitors, this vape is far from “cute”:

• The Vuse Solo e-cig... looks more like an emergency medical syringe — no bright colors and no puffy-cloud illustrations.
• The approved cartridges are strictly tobacco-flavored. A far cry from watermelon ice or cotton candy. Still, they contain as much nicotine as a pack of cigarettes.
• The verdict: FDA said the health benefit of helping smokers ditch tobacco cigs outweighs the risk of getting kids hooked... on tobacco-flavored Vuse Solo.

First Vuse... The landmark decision means the FDA thinks some vapes could offer more benefits than risks — keyword: “some." The FDA rejected 10 other flavored Vuse products, which are popular with teens. As global tobacco use falls, smokers are trading paper for puffable nicotine tech. The e-cig market was worth $14B last year, and is expected to hit $22.5B by 2026. So far the FDA hasn't been sipping the e-juice.

• The Vape Purge: Over the past few months, the FDA has ordered thousands of vaping products off the market, including Puff Bars.
• Puff has surpassed Juul as a teen favorite thanks to its candy-like flavors, cheap disposable bars, and colorful packaging.

Say “supply shortage” again… Three major global problems have dominated headlines and weighed on markets. First, supply-chain snarls are straining everything from USPS delivery to Grape Nuts availability. Second, a chip shortage is slowing production of GM trucks, gaming consoles, and lots more. Third, a surge in ransomware cyberattacks has disrupted a large variety of organizations, including beef suppliers and big governments. Meanwhile, the IMF lowered its forecast for 2021 global economic growth this week. To get things on track, President Biden and other leaders are getting involved.

ETA on that rice cooker: 97 days… Corporations don’t necessarily have financial incentives to help solve global operations and security problems. So Biden’s encouraging them to address the far-reaching threats. Some examples:

• Unblocking the supply chain: Biden brokered a deal for ports in LA and Long Beach, which process nearly half of US cargo, to operate 24/7 to ease the backlog.
• Cracking down on hackers: Biden gathered 30 state leaders to combat cyberattacks, which cost victims $74B last year. The US also sanctioned a crypto exchange accused of letting criminals launder stolen Bitcoin.
• Supercharging chips: Japan reportedly might partner with TSMC and Sony to build a $7B chip factory to address the shortage. Meanwhile, the White House spearheaded a $52B bill to boost domestic chip making in June.

• Banked: Chase, aka America's largest bank, beat quarterly profit expectations after releasing $2.1B in reserves it had set aside for loan losses.
• Bubbly: Delta posted its first quarterly profit that doesn't include federal aid since the pandemic began, but warned that rising fuel prices could hurt.
• Nifty: Crypto exchange Coinbase is adding NFTs to take on marketplaces like OpenSea and Nifty Gateway.
• Luxe: Louis Vuitton Moët Hennessy (aka LVMH) said sales of its fashion and leather goods were 38% higher than pre-pandemic levels at the end of the quarter.
• Softrun: Japanese investment giant SoftBank funneled $400M into CA-based activewear brand Vuori — leggings are still thriving.

• Weekly jobless claims
• Earnings expected from UnitedHealth, Morgan Stanley, Citigroup, US Bancorp, Walgreens, Domino’s, and Del Taco

Authors of this Snacks own Bitcoin and shares of Spotify, Delta, Chase, and GM

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