The "John Wick"-esque action thriller "Monkey Man" was the second-highest grossing film at domestic box offices this weekend — making over $10 million across more than 3,000 theaters.
Why it matters: The movie was sold first to Netflix before "political undertones" reportedly scared the streamer off and Jordan Peele stepped in to convince Universal Pictures to pick it up, according to The Wrap.
A national athletics association for smaller private colleges and universities around the U.S. adopted a new policy on Monday that bans transgender athletes from women's sports.
Why it matters: The National Association of Intercollegiate Athletics (NAIA) is believed to be the first national collegiate athletic governing body adopt such a policy.
Gold prices set a new record high on Monday, topping $2,300 per ounce amid a broad commodities rally, international tensions and moves by global central banks.
Why it matters: Central bank purchases have been key in driving up gold, which normally operates as a safe haven in times of turmoil.
Conflict in the Middle East, as well as speculation that the Federal Reserve may loosen monetary policy later this year, is also helping give bullion a lift.
The metal neared $2,400 per ounce before paring gains, but was still up over half a percent on the day, according to Yahoo Finance data.
Context: The metal's rarity and physical properties give it its inherent value besides being a shiny, coveted metal. Bullion is also used by investors a hedge against market and global risk (it's part of the reason Costco started selling gold bars last year).
According to Bank of America data, China, Poland and Singapore led the central bank gold purchases in 2023; The world's second-largest economy has led the pack, stockpiling gold for the 17th straight month.
By the numbers: Bullion still makes up a large portion of global central bank reserves.
U.S. leads the world's official bullion holdings, with 69.7% of reserves which is 8,133 tons as of February 2024.
But in 2023, China outpaced all central banks, adding 225 tons of gold to its reserves. That was the highest increase since 1977, with total gold reserves reaching 2,235 tons by the end of December last year.
As of February 2024, gold accounts reached 4.3% of China's official foreign exchange reserves from 2.9% in 2019.
Zoom in: The People's Bank of China (PBOC), has been steadily beefing up its gold reserves for more than a year.
China's gold spree isn't just about financial strategy—it's also in reaction to rising geopolitical woes.
What they're saying: A big reason behind central banks' gold buying is that central banks don't trust the global financial system, Francisco Blanch, head of global commodity and derivatives research at BofA Securities, tells Axios.
After the EU and US slapped Russia with sanctions, which included freezing its central bank's foreign reserves, it made many central banks rethink on the kind of reserve assets they should be holding, Blanch says.
China's gold buying strategy also fits well with its goal to diversify its assets alongside other BRICS countries (Brazil, Russia, India, and South Africa), who are eyeing global economic dominance by 2050.
What we're watching: The value of the U.S. dollar, which trades inversely to gold, as well as indications that markets are tempering bets on Fed rate cuts as U.S. data continues to defy expectations.
Get your eclipse glasses ready and set a reminder: Monday offers a rare, brief chance to see a solar eclipse for most of the country.
Why it matters: You'll have to wait until 2044 to spot a total solar eclipse in the contiguous U.S. if you miss this celestial event, according to NASA.
Business Insider on Monday will announce Ari Isaacman D'Angelo as its new chief communications officer, Axios has learned.
Why it matters: The company has faced a few crises and changes over the past few months without a C-suite executive in charge of communications, including a round of layoffs and a high-profile defamation fight with billionaire Bill Ackman.
Beyoncé is the first Black woman to lead Billboard's Top Country Albums chart with "Cowboy Carter."
Why it matters: Debuting with 407,000 equivalent units in the U.S., "Cowboy Carter" is the highest-performing album since Taylor Swift's "1989 (Taylor's Version)" in November 2023.
Dan Schulman, who stepped down last fall as PayPal's CEO after a nine-year run, has joined venture firm Valor Capital Group as a managing partner, he tells Axios exclusively.
Why it matters: Schulman has been one of Silicon Valley's most sought-after free agents, for both CEO and investor roles.
How much money would you save up if you invested your spare change in the stock market? The answer, in practice, seems to be about $2,500 over nine years.
Why it matters: One of the most controversial concepts in the world of financial advice is the idea — sometimes called "the latte factor" — that saving small amounts of money can add up to significant wealth over time. Now we have empirical evidence as to whether that's true.
Janet Yellen said Monday that TikTok was discussed "briefly" in meetings with her counterparts in China — the latest sign that the prospect of a ban is rattling top officials in Beijing.
Why it matters: A bipartisan group of U.S. lawmakers is pushing legislation — recently passed by the House — that would require the popular video app to be spun off from its parent company, China-based ByteDance, or risk being banned.
JPMorgan Chase CEO Jamie Dimon uses his annual shareholder letter, out Monday morning, to set out a global agenda for what might be called Pugnacious Hegemonic Neoliberalism: Pro-America, pro-military, pro-trade, pro-capitalism, pro-DEI, anti-China.
Why it matters: Since Dimon took the helm as JPMorgan's CEO 20 years ago, he has steadily reinvented himself. Today, the technocrat-turned-thought leader has become, for all intents and purposes, a politician. The only question is whether he aspires to actual political office.
The biggest urban experiment in decades is coming to New York City in June, when vehicles will be charged $15 and up to drive in Manhattan below 60th Street.
Why it matters: It's a first-in-the-nation policy that other American cities — like Seattle, San Francisco and Washington, D.C. — might be eager to replicate.
The Federal Aviation Administration launched a fresh investigation into Boeing after an engine cowling fell off and struck the wing flap during takeoff on Sunday morning, per an FAA statement.
The big picture: There were no reports of injuries from the latest incident to affect a Boeing plane, and the FAA noted the Houston-bound Southwest Airlines 737-800 aircraft returned safely to Denver International Airport around 8:15am local time.
