Inflation resumed its downward path in April — if ever so slightly — and the white-hot consumer looks to be no more.
Why it matters: Should that continue, it might mean the U.S. economy is back on track for a gradual inflation cooldown even if the process is bumpier than initially thought.
Vista Equity Partners has written off the entire equity value of its investment in tech learning platform Pluralsight, three years after taking it private for $3.5 billion, Axios has learned.
Why it matters: This isan example of leverage catching up with a leveraged buyout.
Former President Trump's social media companybegan preparing for a legal loss like Thursday's conviction long before he had even been indicted.
Behind the scenes: In its October 2021 merger agreement with a blank-check company, Truth Social's parent company identified two "material disruptive events," one of which was a felony conviction.
The Federal Reserve's go-to inflation gauge ticked down in April as consumers pulled back on spending, the Commerce Department said Friday.
Why it matters: The data is welcome news after a months-long stretch where inflation by this measure hadn't budged. Even so, prices across a slew of goods and services are still rising too quickly for the central bank's comfort.
For a while there, it looked as though legislators in New York State might be about to upend the world of sovereign debt. Now, a decidedly sensible compromise seems to be the most likely outcome.
Why it matters: Legislators have been talking aggressively about how they want to crack down on vulture funds. A bill introduced last week targets just those funds — while leaving the broader market structure unscathed.
Pending home sales fell to the lowest level in four years in April — the worst reading since the height of the pandemic lockdown.
Why it matters: Spring homebuying season is looking like a serious slump — it's the second-lowest reading since the National Association of Realtors started tracking the data in 2001.
The big picture: The WinRed donation platform used by Trump's 2024 campaign and other Republicans was hit by an outage as Google searches for "Donald Trump donation," "Donald Trump donation site" and other related searches spiked in the wake of the verdict.
Kohl's stock plunged today after the retailer reported a continued downturn in sales.
The department store chain is hoping to avoid the fate of some of its rivals, such as Sears and JCPenney, both of which ended up in bankruptcy.
Between the lines: Kohl's reported a 4.4% decline in comparable sales in the period ending May 4, as even the company's popular clearance sales underperformed.
"Our first quarter results did not meet our expectations," CEO Tom Kingsbury said in a statement.
Why it matters: The American mall has been under siege for years from digital competitors and big-box stores, prompting many to pursue reinvention with alternative tenants like fitness chains and restaurants.
X and cable news network NewsNation are planning to host live town halls with former President Trump and independent presidential hopeful Robert F. Kennedy Jr., two sources familiar with the plans told Axios.
State of play: The pair have agreed in principle to separate live interviews as part of a new video series, titled "The People's Town Hall," per the sources, though the dates and locations have yet to be set.
A flood of elite GOP donors and Trump-curious tycoons have come off the sidelines in recent weeks in support of the former president, who is rapidly closing his fundraising gap with President Biden.
The big picture: Trump's mega-donors defected in droves after Jan. 6 and Republicans' abysmal performance in the 2022 midterms. After flirting with alternate candidates in the GOP primary, many are getting back behind Trump.
Here are the new movies and shows that are coming to Netflix, Paramount+ and more streaming services the first weekend of June.
What we're watching: Jeremy Renner returns as "mayor" of Kingstown, a puppeteer spirals in a gritty thriller, and we learn about the visionary behind characters like Kermit the Frog and Big Bird.
TikTok and its Chinese owner, ByteDance, continue to have one of the lowest reputation scores across all of the companies measured annually in the Axios Harris Poll 100, thanks to bipartisan concerns around social media safety and security.
Why it matters: TikTok has faced a wide set of challenges since entering the U.S. market in 2017, and a new U.S. law requiring the company to sell itself to a U.S. owner or face a ban has darkened the public's perception of the app.
As founder of Mixing Board, Sean Garrett has created a space for communicators and marketing professionals to share what's next in the profession.
Why it matters: Garrett helped build the first communications team while at Twitter (now X) and he currently is building a community of experts through Mixing Board.
Luckin Coffee's fortunes have perked up, four years after an accounting scandal cost the Chinese company its top executives, its Nasdaq listing, and $180 million in fines.
Why it matters: Many had left Luckin for dead, assuming its remains would get steamrolled by Starbucks.
Acting Labor Department secretary Julie Su just helped secure a labor contract for more than 1,500 newly unionized workers at a school bus manufacturer in Georgia — a region typically hostile to unionization.
Why it matters: The contract at Blue Bird Corp., ratified last week, shows how the administration's pro-labor stance, along with the money pouring in from its signature legislation, is changing how some U.S. businesses operate.
The big picture: Sony and Mattel, both companies with big ties to American youth, were highly ranked in the 2024 Axios and Harris Poll on corporate reputation.
Elon Musk has three essential ingredients to unrivaled political power among CEOs: control of a massive social media platform, astonishing personal wealth — and now former President Trump's open and willing ear.
Why it matters: That makes Musk arguably the most important business player in modern American politics. He has the power to sway or repel voters — and stands ready to win or lose big, given his companies' deep ties to government.
Former President Trump likes cryptocurrency now — a lot, which is a surprise to anyone who has been following the industry's political fortunes.
Why it matters: The cryptocurrency industry, which may not have that many people but definitely has a lot of money, has never been more politically organized as the U.S. heads into a presidential election.
Amazon customers in the U.S. can now order food delivery inside Amazon's app through Grubhub, the companies announced early Thursday.
Why it matters: "It's actually the first time we've had third party restaurant ordering inside the Amazon app," Jamil Ghani, worldwide VP of Amazon Prime, tells Axios in an interview.
Three men accused American Airlines in a lawsuit Wednesday of "blatant and egregious racial discrimination" for temporarily removing them and five other Black passengers from a flight after a complaint about body odor.
The big picture: The lawsuit states that the eight men were not seated together and did not know each other when they were removed from the Jan. 5 flight from Phoenix, Arizona, to New York's John F. Kennedy International Airport "without any valid reason, and solely based on their race."
Why it matters: A rebound in business travel is helping American's competitors Delta, United and Alaska Air gain double-digit sales growth from corporate accounts.
The big picture: American cut its guidance for this current quarter — the start of the all-important summer travel season — late Tuesday, which sent investors scurrying.
Shares sank nearly 14% by the end of Wednesday's trading.
Numerous Southwest Airlines flights were delayed as the company reported a power outage hit its data centers in the Dallas area on Wednesday.
Why it matters: While a Southwest Airlines spokesperson said it had "resolved a brief technology issue" that was caused by Wednesday afternoon's outage, the airline has been in the spotlight after thousands of flights were delayed in late 2022 and again in early 2023 due to severe weather and exacerbated by tech issues.
