It might be time to drop the shopping from shopping mall.
Why it matters: The quintessential American mall has been a staple on the shopping landscape for decades, but it's been under siege for years from big-box stores, digital competitors and alternative sources of entertainment.
Rivian is introducing not one but three smaller, more affordable electric vehicles (EVs) that it hopes will persuade more consumers to replace their gasoline-powered cars and cement the company's status in the automotive world.
Why it matters: Increasing the breadth of its lineup with cheaper models could help accelerate EV adoption while enabling Rivian to scale faster toward profitability to survive a cutthroat market.
The National Transportation Safety Board is investigating a United Airlines Boeing 737-8 flight that last month experienced "stuck" rudder pedals after touching down in Newark, per a preliminary report released Thursday.
The big picture: The investigation comes as the aircraft maker is facing scrutiny over how it manages safety, following an emergency door blowout aboard a Boeing 737 MAX 9 earlier this year.
The chief justice of the Delaware Supreme Court defended the state's legal legacy of providing the roadmap for U.S. corporate decisions and transaction terms, amid a burst of criticism aimed at its decisions.
Why it matters: Delaware is where most U.S. companies are incorporated, and any major departure could dilute and confuse standards set by the state's legal framework over the past several decades.
The Food and Drug Administration is warning that select ground cinnamon products sold at some discount stores contain "elevated levels of lead."
Why it matters: The federal agency said in a safety alert Wednesday that consumers should throw away the affected spice products, which were sold at retailers such as Dollar Tree, Family Dollar and Save A Lot.
Data: Muck Rack; Note: The sentiment assigned to an article is based on scoring applied from an open-source natural language processing library to articles published online and their headline; Chart: Tory Lysik/Axios Visuals
Kellogg typically receives neutral coverage, however sentiment quickly soured following Pilnick's "cereal for dinner" comments.
Zoom in: These comments attracted roughly three times more readers than Kellogg's average news readership.
Most negative coverage landed on Feb. 26 — which is also the day that readership spiked, per data provided by Memo.
PayPal has named Amy Bonitatibus as chief communications and corporate affairs officer, Axios first reported.
Why it matters: PayPal is undergoing its first management shakeup in a decade and it will lean on Bonitatibus to provide communications stability through the transition.
📍Catch up quick: Bonitatibus — who previously held communications roles at Fannie Mae, Chase Bank and most recently served as chief communications officer at Wells Fargo — tells Axios that she runs toward challenging opportunities, not away from them.
🗣 What she's saying: "It's an exciting time for PayPal as it transforms and evolves to meet the changing customer needs," says Bonitatibus.
Messaging that lands in a marketing spot might not get the same reception when coming out of the CEO's mouth.
WK Kellogg Co. learned this the hard way after its CEO Gary Pilnick appeared on CNBC and encouraged cash-strapped consumers to consider eating cereal for dinner.
Why it matters: Kellogg's current PR crisis highlights the power of optics and the importance of empowering the right messenger with the right talking points.
As the 2024 presidential election looms, employees and consumers agree there's no place for politics at work, according to a new survey from Weber Shandwick.
Why it matters: This presents a major challenge for business leaders, brands and employers in an age in which everything has the potential to turn political.
House Democrats are launching an investigation into Elon Musk's SpaceX over concerns that Russian forces have obtained the company's internet satellite terminals, per a letter sent Wednesday.
Why it matters:Ukraine has relied on SpaceX's Starlink in its counteroffensives against Russia, the letter said, and the U.S. government has poured resources into supporting Ukraine.
Condé Nast posted flat revenue gains year-over-year in 2023, CEO Roger Lynch told Axios in an interview. The losses in advertising, mostly print, were offset by growth in its subscription, e-commerce and events businesses.
Why it matters: A shift to diversify its revenue outside of advertising has helped the company shift from losing money to breaking even over the past three years.
Former Treasury Secretary Steven Mnuchin swooped in to help avert a spring banking crisis like the one we had a year ago.
The big picture: Mnuchin and his partners announced a $1 billion investment in New York Community Bancorp on Wednesday, assuaging fears that it could share the same fate that befell Silicon Valley Bank.
The majority of M&A transactions last year involved private companies, a significant shift for corporate America and the financiers who power deals, Evercore's Bill Anderson said Thursday.
Why it matters: The shift highlights how the balance of M&A power has moved to private equity firms and private credit providers in the last year.
The European Central Bank (ECB) held interest rates at a record high on Thursday, but released new economic forecasts showing notably cooler inflation that might open the door to lowering rates later this year.
Why it matters:Much like the U.S. Federal Reserve, the ECB is weighing when to cut borrowing costs as the inflation shock recedes. But European policymakers face a complication the Fed does not — a sluggish economy on the brink of a recession.
Vista Outdoor (NYSE: VSTO) revealed in a filing this week that the deadline for the U.S. government's review of a $1.9 billion bid for the company's ammunition unit is just weeks away.
Why it matters: A seller of sporting goods and ammunition, Vista has fielded another offer for the entire company from a suitor that believes the ammo division should go to a U.S. buyer.
Here's some impressive financial arithmetic: By injecting $1 billion of new capital into the beleaguered New York Community Bancorp, an investor group led by Steve Mnuchin caused the bank's valuation to rise by more than $2 billion.
The big picture: At the close of trade on Tuesday, NYCB had 722 million shares outstanding, which meant that at a price of $3.22 per share, it was worth $2.3 billion.
Banks not only need to be strong; they also need to be liquid. That's the message being sent by Federal Reserve officials looking to ensure there won't be a repeat of the banking crisis of one year ago.
Why it matters: Bank regulation moves slowly. Right now regulators are finishing up their response to the financial crisis of 2008 — and are just beginning their response to the 2023 crisis.
Worries over the strength of regional banks have helped former Treasury Steve Mnuchin buy into New York Community Bancorp for a mere $2 per share. That's partly because he knows full well that banks don't have a lot of attractive options right now when they need to strengthen their balance sheets.
Between the lines: NYCB did reportedly look at one alternative, so-called credit risk transfer (CRT) deals, but faced regulatory skepticism.
The same-day delivery wars are heating up with Walmart and Target adding speedy new services that rival Amazon Prime.
Why it matters: Intensifying consumer demand for instant gratification — like having everything from milk to a barbecue grill delivered in hours — is putting pressure on all retailers.
