News Corp., the parent company to The Wall Street Journal, on Wednesday announced a long-anticipated, multiyear deal to license its archived and current content to ChatGPT parent OpenAI.
Why it matters: The news industry has split over whether to work with or challenge AI firms — and the Journal's biggest rival, The New York Times, opted to sue OpenAI and its parent Microsoft instead of striking a deal.
Some Federal Reserve officials questioned whether decades-high interest rates were sufficient to cool inflation, according to minutes released Wednesday from the central bank's policy meeting earlier this month.
Why it matters: Inflation eased considerably last year, but data in recent months showed progress has not continued into 2024 — a development that has muddled the outlook for how long interest rates might need to stay elevated.
The consumer protections you get when you pay with a credit card should also apply when you pay with buy now pay later (BNPL) schemes. That's according to a proposed rule from the Consumer Financial Protection Bureau.
Why it matters: The rule would formalize conventions that have informally been in place, at least at the largest BNPL lenders, for some time. But it also means that BNPL won't get any special treatment.
Blackstone, the world's largest alternative asset manager, plans to share equity in its U.S. portfolio companies with most workers in those companies, according to an investor memo obtained by Axios.
Los Angeles-based investment firm Oaktree Capital Management says that it's become the new owner of Italian soccer club Inter Milan, after Chinese holding company Suning missed €395 million in loan repayments.
Why it matters: Inter Milan is among Italy's most popular and successful teams, and is sure to become a takeover target for those who view Oaktree as an accidental owner.
The current market looks like a goose that lays the golden BEGS.
The big picture: The full range of popular investments with no associated cash flow — bitcoin, Ethereum, gold, silver — is at or near all-time highs. Let's call them BEGS.
Airbnb and electric vehicle infrastructure company ChargePoint are teaming up to give hosts discounts on charging tech.
Why it matters: As EVs slowly but steadily grow more popular, demand for charging is increasing in kind — and Airbnb hosts who offer it may get a leg up on their local rivals.
This survey is the result of a partnership between Axios and Harris Poll to gauge the reputation of the most visible brands in America, based on 20 years of Harris Poll research.
A growing number of apartment buildings nationwide are allowing tenants to bank extra cash by hosting on Airbnb.
Why it matters: Rental affordability has plunged in recent years, and those who rent are feeling especially poor about their finances, according to the Axios Vibes survey by The Harris Poll.
Traditionally conservative-leaning brands saw sizable gains in corporate reputation thanks to growing trust from independents and some Democrats, according to new rankings from the annual Axios/Harris Poll 100.
Why it matters: Corporate reputations overall declined to their lowest level since before COVID. But companies such as Hobby Lobby, the Trump Organization and Fox were among the survey's best performers.
Mattel is making Barbie dolls depicting U.S. tennis star Venus Williams and eight other athletes who've "broken boundaries" and encouraged girls to stay in sports, the company announced Wednesday.
Why it matters: These "one-of-a-kind Role Model dolls" are part of a Barbie program aimed at "leveling the playing field for girls globally, in sports and beyond" and to "close the gap that comes between girls and their full potential," per a company statement announcing the toys ahead of the Paris Olympic Games.
