Boeing's troubles are starting to cause some turbulence for major airlines.
Why it matters: Carriers that were depending on new planes from Boeing to meet their growth plans are now scaling back expectations, or scrambling to find other options.
Gas prices are cheaper than this time last year, but they've been rising for the last several weeks — and that led to a higher-than-expected inflation jump in February, Nathan writes.
State of play: Gas prices were down 3.9% in February, compared with a year earlier, but up 3.8% from January.
Overall, the Consumer Price Index posted a 3.2% uptick over the last 12 months and a 0.4% jump over the previous month.
The big picture: For the second straight month, the CPI flashed signals that the 2023 disinflation trend may have stalled out at the start of 2024, our Axios Macro colleagues write.
"Dry promotions" are worthy of a raised eyebrow, Nathan writes.
The big picture: This is apparently the phrase to describe a promotion that doesn't come with a pay increase, according to the Wall Street Journal.
Dry promotions "present a career dilemma," WSJ reports. "And some data suggest they're becoming more common as companies manage their talent with tighter budgets."
💭 Nathan's thought bubble: It's a risky endeavor for employers who don't want to lose people to the competition to give them a better title — which will make them more appealing to other companies — without the money to show for it.
Egg prices are soaring again and increased 8.4% in February from January, according to the latest Consumer Price Index released Tuesday.
Why it matters: Elevated prices ahead of Easter are giving consumers flashbacks to the sky-high prices of 2023, which peaked at $4.82 for a dozen in January.
Congress seems to relish its new role as TikTok antagonist, almost as if it's the exasperated parent of an app-addled teenager.
The big picture: This was supposed to be job of CFIUS, the federal inter-agency committee charged with evaluating the national security risks of foreign investments in the U.S. But CFIUS has been missing in action.
ESPN is relaunching its popular ESPN Tournament Challenge fantasy game ahead of NCAA March Madness as part of a broader effort to invest in fantasy sports, gaming and betting, executives told Axios.
Why it matters: The company is trying to find deeper ways to engage sports viewers as it looks to build more direct-to-consumer products.
Empathy, a New York-based support platform for employees and life insurance beneficiaries who've lost loved ones, raised $47 million in Series B funding led by Index Ventures.
Why it matters: Employers often provide bereavement leave and life insurers pay settlements, but neither assist with death's emotional and logistical hardships.
Apollo Global Management in recent days has reached out to a special committee formed by Paramount Global about a possible takeover or asset purchase, two sources familiar with the matter tell Axios.
State of play: Apollo would face competition, including a group led by David Ellison's film and TV studio Skydance Media.
The Consumer Price Index rose 0.4% in February, while the core measure that excludes food and energy prices increased by the same amount, the government said on Tuesday.
Why it matters: While inflation has plunged from its peak, the latest data shows that price increases, including for housing and insurance, remain difficult to stamp out.
Grayscale Investments has filed to launch a mini-version of its flagship bitcoin exchange-traded fund known by its ticker GBTC.
Why it matters: It's a shrewd strategy to compete in the booming bitcoin ETF race alongside much larger money managers, without having to cut or waive fees on its lucrative investment product.
In a world where accelerating global warming and worries of nuclear war fill the public daily with existential dread, infrastructure billionaire (and former L.A. Dodgers owner) Frank McCourt Jr. is here to warn us that one threat in particular dwarfs all others — the power of big technology companies.
Why it matters: McCourt doesn't just have a diagnosis of the problem, he also comes bearing a weirdly simple solution in the form of a new computer networking protocol.
Aviation engine giant GE Aerospace is investing approximately $650 million in various facilities worldwide,with the lion's share going to its U.S. plants and suppliers.
Why it matters: It's a piece of a broader push by all sorts of manufacturers to bolster their domestic operations and supply chain.
More than 19.5 million people tuned in to watch the Oscars on Sunday — a four-year high, according to Nielsen.
Why it matters: Ratings for the Oscars — and awards shows broadly — have increased steadily from pandemic-era lows. But they are still down significantly from pre-streaming era highs.
OpenAI shot back at Elon Musk's lawsuit in a court filing on Monday, saying his claims "rest on convoluted — often incoherent — factual premises."
The big picture: The move is the latest in a longstanding feud between Musk and OpenAI CEO Sam Altman over how generative artificial intelligence should be used as the company's ChatGPT revolutionizes its use.
Congress is moving forward with legislation to force China's ByteDance to divest from TikTok or else the popular video-sharing platform will be banned from app stores in the U.S.
Why it matters: For years, U.S. officials wanted to take action against TikTok over alleged national security concerns about the Chinese government's access to user data.
The big picture: The pharmacy giant neither admitted nor denied wrongdoing in the settlement, which included payment of $50,000 to cover costs including civil penalties, in news first reported by Reuters. But it did agree to not overcharge on such items.
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