Uber's stock is set to be added to the S&P 500 index.
Why it matters: Its inclusion is another sign of the company's maturity — a phase that at one point seemed far from being possible under co-founder Travis Kalanick's leadership.
The nation's largest retail trade group retracted a key assertion from an April report that "nearly half" of the $94.5 billion inventory losses reported by retailers in a 2021 survey "was attributable" to organized retail crime.
Why it matters: Skeptics of the recent narrative of retail theft's growing size and scale have been given more reason to double down.
JPMorgan CEO Jamie Dimon ramped up his years-long opposition to bitcoin and other digital currencies on Wednesday, suggesting that lawmakers should move to ban cryptocurrency altogether.
What they're saying: "If I was the government, I'd close it down," Dimon said at a Senate hearing alongside seven other big bank CEOs.
Leaders of some of the nation's biggest banks attacked regulators over their proposals to toughen industry rules — even threatening at a Senate hearing on Wednesday to challenge the constitutionality of the plan.
Why it matters: It's unusual for the heads of the nation's biggest banks to so publicly berate regulators. The heated exchanges offer a preview of what could be ahead for the proposed rules that CEOs claim will hurt the economy.
A longtime bitcoin custodian has evolved over the years into becoming much like a sort of financial institution that's been denied to U.S. citizens: a narrow bank.
Why it matters: Xapo doesn't describe itself as such, but it offers a glimpse of the type of services that entrepreneurs have been pushing in the U.S. for years — banks designed to be nearly riskless.
McDonald's officials said Wednesday that the company is planning to expand at a record pace and open 10,000 new restaurants by the end of 2027
Why it matters: The restaurant expansion is expected to drive global sales and profitability for the fast-food giant. Just around 900 of the new locations are expected to be in the U.S.
Taylor Swift's record-setting year just got a little bit bigger: She was named Time magazine's person of the year, the first entertainer ever to be a solo honoree.
The big picture: Swift's Eras Tour was a national phenomenon, she dominated the charts, had multiple albumshit No. 1 in a single year, and released a blockbuster concert film to boot.
OpenView Venture Partners of Boston has suspended investing in new companies and laid off most of its employees, less than a year after raising $570 million for its seventh fund.
Why it matters: It's not unheard of for VC firms to shut down, even after securing commitments for a new fund. But no one seems to remember one ever doing so after calling down around 20% of that fund, in a valuation environment that should benefit its expansion-stage strategy.
The BBC on Tuesday relaunched its North American website as a part broader push to grow its business and audiences in the U.S. and abroad, BBC Studios' CEO of global distribution Rebecca Glashow tells Axios.
Why it matters: The move comes as the storied public broadcaster faces increased pressure from U.K. regulators over public funding.
Elon Musk may have a plan to save X, and it doesn't involve advertising, free speech, or financial services.
Why it matters: There are fascinating signs Musk is turning his attention — and business bull case — to AI. There may be a hidden plan behind what looks like random rants.
Fewer workers are working primarily from home these days, according to polling data out Wednesday from Morning Consult.
Why it matters: While far more Americans work remotely now than before the pandemic, the share of those who are fully remote has been steadily declining.
Bankers at a Wells Fargo branch in Daytona Beach, Florida, took a key step toward unionizing on Wednesday morning by notifying the National Labor Relations Board that they plan to hold union elections.
Why it matters: It's the third Wells Fargo branch to move toward union elections — a sign that organizing efforts are gaining steam within the bank, the fourth largest in the country.
A year after a cap on Russian oil prices was imposed, the Treasury Department says that enforcement is needed to counteract Moscow's growing ability to ship crude, according to a memo obtained by Axios.
Why it matters: The $60 price cap on Russian crude was credited last year with making a dent in how much cash the Kremlin brings in from oil sales. That money helps pay for its war on Ukraine.
As automakers push their flashy new electric vehicles (EVs), many consumers making the jump from gasoline cars are opting instead for hybrids as they tiptoe toward electrification.
Why it matters: Car buyers — not politicians, regulators or carmakers — will dictate the pace of the electric transition.
CVS Health's new plan to make the way it prices prescription drugs more predictable is the latest shift by pharmacy giants to overhaul their business models amid increasing pressure from policymakers and industry upstarts.
Why it matters: More transparent pricing that's more closely tied to the base cost of a drug could drive down how much consumers and insurers pay for some medicines.
Members of SAG-AFTRA actors union voted Tuesday night to ratify their new three-year contract, officially ending the longest strike against Hollywood studios.
The big picture: Over 78% of the 38% of members who voted approved the deal that SAG-AFTRA reached with studios last month following 118 days of strike action that halted TV and film production for months, per a statement from the union.
Why it matters: The merger would be ExxonMobil's largest deal since the two namesakes merged in 1999 and reshape the U.S. oil industry. And it would give the oil giant the Permian Basin's most prolific player.
