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FDA Authorizes Juul E-Cigarettes

FDA Authorizes Juul E-Cigarettes

Juul Labs has won authorization from federal regulars for its e-cigarettes to remain on the U.S. market, according to people familiar with the matter. The decision breathes new life into the vaping company after a federal ban in 2022 pushed it to the brink of bankruptcy.
The Food and Drug Administration has authorized Juul's original vaporizer, along with refill cartridges in tobacco and menthol flavors, the people familiar with the matter said.
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Treasuries Fall as Haven Appeal Wanes on US-Japan Trade Deal
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Treasuries Fall as Haven Appeal Wanes on US-Japan Trade Deal

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New Money Market ETF Draws $2.1B in First Week
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A new money market ETF just launched, and it's already making waves. The Simplify Government Money Market ETF (SBIL) amassed $2.1 billion in assets under management in its first week of trading, a rare feat for a freshly launched fund. The ETF began trading on July 14 and is part of a small but growing group of money market ETFs built specifically to comply with Rule 2a-7 under the Investment Company Act of 1940, the same rule that governs traditional money market mutual funds. Unlike classic money market funds, which are priced once daily and maintain a constant $1 net asset value (NAV), SBIL has a floating NAV and trades intraday like any other ETF. That's a key benefit for institutional and retail investors alike, allowing them to move in and out of positions throughout the day without waiting for end-of-day pricing. SBIL charges an expense ratio of 0.15%. SBIL Part of a Broader Trend SBIL's debut comes amid surging demand for ultra-short-term bond ETFs and cash-like strategies more broadly. While technically labeled a money market ETF, SBIL isn't radically different from other popular ultra-short Treasury ETFs like the iShares 0-3 Month Treasury Bond ETF (SGOV) or the SPDR Bloomberg 1-3 Month T-Bill ETF (BIL). These funds invest in high-quality debt with very short maturities—typically under three months—resulting in minimal interest-rate risk and essentially no credit risk. While SGOV and BIL hold only Treasurys, money market ETFs like SBIL adhere to 2a-7 requirements, which enforce strict rules around maturity, liquidity and credit quality. In practice, the differences are mostly technical. To investors, they all serve as short-term, cash-like vehicles. A Budding Subcategory SBIL joins a short list of true money market ETFs launched in the past year. The first was the Texas Capital Government Money Market ETF (MMKT), which debuted in 2024. Since then, BlackRock Inc. (BLK) has entered the space with the iShares Government Money Market ETF (GMMF) and the iShares Prime Money Market ETF (PMMF). SBIL is by far the largest ETF in the money market ETF category, though the aforementioned SGOV and BIL dominate the broader ultra-short-term bond ETF space. SGOV recently became the first such ETF to cross $50 billion in | © Copyright 2025 All rights reserved Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data

If Every Worker in America Earned the Same Paycheck, What Would Happen to the Economy?
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Imagine an America where the CEO of a tech giant takes home the same salary as a grocery store cashier. Where software engineers, janitors, teachers and hedge fund managers all earn the exact same paycheck. It's a radical idea, and one that's gaining attention thanks to people like Madeline Pendleton, founder of Tunnel Vision, a clothing company where every employee, including Pendleton herself, is paid the same wage. Profits are shared, and there's a five-year plan to distribute ownership equally. It's an especially compelling idea when you consider that most working Americans are struggling to get by, while CEOs were paid 351 times as much as the typical worker in 2020, according to the Economic Policy Institute. But what would happen if this model were scaled up, not just to one business, but to the entire U.S. economy? Find Out: Read Next: The short answer: The results would be complicated, and maybe even chaotic. Chris Motola, a financial analyst with explains that the impact of every worker in the U.S. drawing the same salary is very different than every worker within a single company drawing the same salary. 'A socialist company like Tunnel Vision is still competing within a capitalist economy,' he said. 'Blown out to the national level, this technically wouldn't even be socialism, but a strictly enforced compensation regime.' Pendleton's model thrives partly because it exists within capitalism. Her employees benefit from equitable treatment and profit-sharing, but the business still competes on the open market. When you remove individual compensation differences across the entire workforce, say, by mandating a single national wage, it changes everything. What Happens to Motivation and Performance? One of the biggest challenges in a flat-pay society is motivation. If no matter how hard (or little) you work, you earn the same as everyone else, what's the incentive to go above and beyond? 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If investment and ownership remain possible, a new class divide could simply emerge between those who invest wisely and those who don't (or can't afford to). 'Does the market still exist? Can people still invest? If so, investors could potentially earn a higher income beyond their salary,' Motola pointed out. So even if salaries were equal, inequalities could persist, just in different forms. Capital investment, property ownership and other private ventures might become the new dividing lines. The End of the Hustle Economy One immediate effect of wage flattening could be the collapse of the hustle economy. No more side gigs for extra income, because everyone already earns the same. That might sound great to burned-out workers, but it could also stifle innovation. Still, there's potential upside: more collaboration and less competition. Without the pressure to outperform for promotions or raises, people might focus on meaningful work, not just lucrative work. Slower, but Possibly Fairer Decision-Making A national flat-pay system would likely eliminate traditional corporate hierarchies, or at least remove pay as the incentive for climbing them. 'The main value proposition of hierarchy, including economic hierarchy, is that it provides a quicker, more efficient decision-making apparatus than resolving things by committee,' Motola said. 'The flipside is that a bad despot can do far more damage than a bad committee.' With equal pay, leadership roles may still exist but they'd be chosen for trust or skill, not compensation. That could lead to slower processes but potentially more democratic workplaces. Utopian or Unworkable? Ultimately, paying every worker in America the same salary would require a fundamental restructuring of how we define value, ambition and success. Changing every worker's salary to a flat rate would go well beyond payroll. It would require a fundamental reset of cultural norms around value, ambition and success. Pendleton's Tunnel Vision proves that an equal-pay model can work on a small scale, with buy-in from everyone involved. But scaling that model to an entire nation? As Motola put it, 'Long story short: It's an unworkable scenario.' Still, it's a compelling thought experiment and one that forces us to confront the values embedded in our paychecks, and to ask whether equality always has to come at the expense of incentive, or if we just need a new kind of incentive altogether. More From GOBankingRates 10 Genius Things Warren Buffett Says To Do With Your Money This article originally appeared on If Every Worker in America Earned the Same Paycheck, What Would Happen to the Economy?

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