Trader Joe's has increased the price of bananas for the first time in more than two decades.
Why it matters: The fruit that has defied the grip of food inflation has been hit by a 4-cent hike "by the each" at the store — a more than 20% increase.
Former President Trump got a lot wealthier on Tuesday, at least on paper, as the value of social media company Truth Social's stock jumped by as much as 55% in early trading.
By the numbers: Shares opened Tuesday at $70.90 per share, after closing on Monday at $49.95 per share. They rose as high as $77.67 in early Tuesday trades, before a mild retreat.
The Supreme Court today will hear a challenge to the FDA's approval of mifepristone, a medicine used to help induce abortions.
Why it matters: Were SCOTUS to rule in favor of mifepristone's opponents, it could chill future biotech investment for almost every medical indication.
Visa and Mastercard have agreed to cut and cap credit card processing fees as a part of a major settlement with merchants after decades of litigation.
Why it matters: U.S. businesses are expected to save at least $29.8 billion in the five-year deal, according to attorneys who represented the plaintiffs in the class-action settlement.
Tennr, a provider of document automation software for health care practices that still rely on faxes, raised $18 million in Series A funding led by Andreessen Horowitz.
Why it matters The antiquated communications tool remains pervasive in U.S. health care, despite policies aimed at phasing it out.
Gannett CEO Michael Reed didn't mince words when asked in an onstage interview last week how he's dealing with an uptick of union activity and pressure.
"I think the Guild, unfortunately, plays dirty and liesto our employees," Reed told Axios at the annual Mather Symposium on media in Atlanta.
The current risk-on mood isn't just in stocks and crypto — it's palpable in the debt market as well.
Why it matters: The portion of the leveraged loan and high-yield bond market trading at distressed levels is shrinking fast, and a blitz of deal activity is breaking down a maturity wall that looked worrisome a year ago. This is all despite interest rates remaining at their highest point in two decades — or maybe because of it.
Why it matters: Breakfast is big business for fast-food chains and quick-service restaurants, which are doubling down on partnerships and new menu items to boost morning sales.
BlackRock CEO Larry Fink calls for the government and private sector to coordinate to ensure Americans have enough money to retire, in his annual letter to investors out Tuesday morning.
Why it matters: It comes as little surprise to learn that the world's biggest manager of retirement funds thinks we need more retirement funds for him and others to manage. But that doesn't mean he's wrong.
Donald Trump's social media company will begin trading Tuesday on the Nasdaq under ticker symbol "DJT" after its successful merger with a blank-check company.
Why it matters: Truth Social's listing could eventually become a financial windfall for Trump, who owns tens of millions of shares. His share is currently valued at $3.9 billion.
