The National Labor Relations Board called on Starbucks on Wednesday to immediately reopen 23 stores that workers allege were shut in response to union organizing activities.
Why it matters: The closure of the union and non-union stores marks the latest of several cases involving the coffee chain giant and the Starbucks Workers United union, which has on several occasions accused the company of illegally interfering with workers' rights.
Despite falling gas prices, the Internal Revenue Service is increasing the "optional standard mileage rate" used to calculate tax deductions by 1.5 cents a mile for 2024.
Testimony is piling up in a California court seeking the returns of customer bitcoins from a U.K.-based exchange, which quit serving customers after about a year, in 2012.
Why it matters: For some of the claimants who have filed testimony in support of the case — a narrower dispute between co-founders — restitution would mean a life changing amount of money.
Climactic, a seed venture firm founded by Freestyle Capital's Josh Felser and ex-Lyft executive, Raj Kapoor, has raised $65 million for its first fund.
Why it matters: A growing number of investors have jumped into climate tech investing in recent years as the urgency of climate change has become increasingly mainstream.
French media and entertainment group Vivendi said that it's weighing a split into three separate businesses.
Why it matters: This would be a strategic reversal for the conglomerate, which has been seeking to tighten bonds between businesses that remained after Vivendi spun off Universal Music Group via IPO in 2021.
Central banks in Europe and the U.K. kept interest rates at historically high levels on Thursday, while officials pushed back on expectations that borrowing costs would be lowered anytime soon.
Why it matters: That stance contrasts with that of the the Federal Reserve, which all but declared the rate hiking cycle over and signaled cuts would be ahead in 2024.
Dotdash Meredith, the parent company to dozens of major media brands including People, Better Homes & Gardens and Simply Recipes, is bringing one of its biggest events — the annual Food & Wine Classic — to Charleston in 2024, CEO Neil Vogel told Axios.
Why it matters: It’s part of the company's broader effort to focus on its core brands and build bigger event franchises around them.
Stocks jumped as the Federal Reserve hinted that significant rate cuts are on the way next year.
Why it matters: Hopes that rate hikes are finished have fueled this year's 22% rise in the S&P 500. The official statement from the U.S. central bank at 2pm ET on Wednesday — and subsequent remarks by chair Jerome Powell — largely confirmed that view.
Bully Pulpit Interactive, the strategic communications agency with close ties to the Biden White House, has acquired European consulting firm BOLDT and will rebrand as Bully Pulpit International (BPI), Axios first learned.
Why it matters: This is BPI's first international acquisition and will position the well-known Democratic firm as a global leader in the public affairs and communications advisory space.
Robotaxi operator Cruise has fired nine key leaders following an initial review into the company's handling of an October 2 accident that left a pedestrian badly injured in San Francisco.
Why it matters: The General Motors-owned startup is trying to restore public trust in the wake of the incident, which led it to suspend operations and launch several internal investigations.
