Photo: Eva Hambach/AFP/Getty Images

Vaping startup Juul announced Wednesday that it would suspend all broadcast, print and digital advertising of its products in the U.S.

The big picture: The move comes alongside the ouster of CEO Kevin Burns. He will step aside immediately for K.C. Crosthwaite, who previously served as tobacco giant Altria's chief growth officer.

  • The company said that Crosthwaite and Juul's leadership team will "continue a broad review of the company's practices and policies to ensure alignment with its aim of responsible leadership within the industry."
  • It also said that it would cease its lobbying efforts against the Trump administration's plan to ban flavored e-cigarettes.
  • The company has faced criticism for its campaigns that characterize vaping as a safer alternative to traditional smoking.

The state of play: The move comes after a 9th person died in the U.S. from a vaping-related illness earlier this week.

  • The CDC reported there are 530 possible cases of severe respiratory illnesses among people who vaped nicotine or cannabis products in 38 states and 1 territory as of earlier this month.
  • But, according to CDC Principal Deputy Director Anne Schuchat's testimony on Tuesday, "hundreds" of new cases have been reported over the past week.

Go deeper: U.S. investigates fatality from vaping as lung-related illnesses rise

Go deeper

Jeff Sessions loses Alabama Senate primary runoff

Jeff Sessions. Photo: Michael DeMocker/Getty Images

Former Attorney General Jeff Sessions has lost the Republican nomination for Senate to Tommy Tuberville in Alabama in Tuesday night’s primary runoff, AP reports.

Why it matters: Sessions had been the underdog in the race against former Auburn University head football coach Tommy Tuberville, who had the backing of President Trump. Tuberville will now face off against Sen. Doug Jones (D-Ala.) in November, who is considered to have one of the most vulnerable Democratic Senate seats in the country.

Updated 5 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 9 p.m. ET: 13,273,537 — Total deaths: 577,006 — Total recoveries — 7,367,106Map.
  2. U.S.: Total confirmed cases as of 9 p.m. ET: 3,424,304 — Total deaths: 136,432 — Total recoveries: 1,049,098 — Total tested: 41,764,557Map.
  3. Politics: Biden welcomes Trump wearing mask in public but warns "it’s not enough"
  4. Public health: Four former CDC heads say Trump's undermining of agency puts lives at risk — CDC director: U.S. could get coronavirus "under control" in 4–8 weeks if all wear masks.

Bank CEOs brace for worsening economic scenario

JPMorgan CEO Jamie Dimon. Photo: J. Lawler Duggan/For The Washington Post via Getty Images

Wells Fargo swung to its first loss since the financial crisis — while JPMorgan Chase and Citigroup reported significantly lower profits from a year earlier — as the banks set aside billions of dollars more in the second quarter for loans that may go bad.

Why it matters: The cumulative $28 billion in loan loss provisions that banks have so far announced they’re reserving serves as a signal they’re preparing for a colossal wave of loan defaults as the economy slogs through a coronavirus-driven downturn.