The collision of inflation and pandemic-era trends has changed the way we shop.
Why it matters: Customers are frustrated by sky-high prices and accustomed to pandemic perks like at-home delivery, curbside pick-up and quick, remote appointments, according to Gallup polling of workers in retail, health care and beyond.
Gen Z is turning toward social media as a search engine, seeking quick, relatable answers amid dissatisfaction with Google's results.
Why it matters: Young internet users'behavior marks a clear departure from that of millennials, who came of age in a golden era of online search and take pride in their "Google-fu," the art of searching like a pro.
For the first time since 2019, April 15 is Tax Day — the deadline to file federal income tax returns and extensions to the Internal Revenue Service — for most of the country.
This week's Consumer Price Index showed insurance prices up 22% over the last year, the largest annual jump seen in data that goes back 40 years. It's the latest sign the American driver is facing the worst price shock in a generation.
The big picture: Costs are soaring at every turn, from decades-high borrowing costs for car loans to insurance rates that are rising at the quickest pace on record.
Driving the news: Prosecutors presented very strong arguments that the defendant had a good idea he was committing a crime over a year ago, when he managed to extract over $100 million from Mango Markets.
Why it matters: In a fraud case, the government has to not only show that the defendant committed a crime, but that they were aware that what they were doing was against the law.
Why it matters: A trio of banks turned in strong first quarter earnings Friday, but warned that the profit growth they've been enjoying from higher rates is starting to fade.
McDonald's restaurants in California have brought back the fan-favorite breakfast bagel after a four-year hiatus in what it calls a plan to offset the impact of the fast-food workers' wage hike.
Why it matters: McDonald's, which posted revenues of $6.4 billion in the fourth quarter of 2023, said the experiment is meant to help California locations drive sales and increase profits as they adjust to the state's new $20 an hour minimum wage law.
A top arbiter of corporate climate plans faces an internal revolt over a decision by its leadership to endorse tapping the carbon markets, and using carbon offsets, as an emissions-cutting tool.
Why it matters: The Science-Based Targets Initiative is viewed as one of the most stringent, science-based groups. Companies strive to meet its targets and methodology to claim their climate action bona fides.
Streaming service Roku announced Friday that roughly 576,000 accounts were compromised in a newly discovered security breach.
Why it matters: This is the second mass data breach for the company in a matter of weeks. Last month, Roku disclosed thathackers had accessed more than 15,000 Roku accounts.
Last month, the big law firm DLA Piper quietly cut the amount of parental leave it offers non-partner lawyers by six weeks.
Why it matters: Businesses almost never cut these benefits — indeed employers, especially law firms, have consistently expanded the amount of time off given to new parents for more than a decade.
The classic investment portfolio of 60% stocks and 40% bonds is doing very well at the moment — it's risen 17% in the past year.
Why it matters: After more than a decade when interest rates were at or near zero, bonds provide real income again — without the volatility inherent to stocks. What's more, the capital losses involved when rates rise are now well in the past.
The leaders of America's largest banks are convinced that AI will transform their businesses, but they're mostly struggling to implement more than a handful of AI products, even internally, and can't agree on what counts as a win.
Why it matters: The massive banking industry is a crucial testbed for transforming the AI industry's promises into real-world results.
The New York Times Thursday morning detailed how Axios is evolving our business and journalism to better serve you in a world reshaped by artificial intelligence.
Why it matters: We believe AI will change news as dramatically as the internet did at the turn of this century.
