President Biden's first TV interview since his disastrous debate performance last Thursday drew 8.5 million viewers, according to Nielsen ratings.
Why it matters: The Biden campaign hoped the interview with ABC News anchor George Stephanopoulos would quell concerns about the president's age, but it was only seen by a small fraction of the 51.3 million that watched the debate.
A slew of Hollywood heavyweights are calling on President Biden to step aside following his disastrous debate performance last week. Several feel deceived by the White House and top campaign officials for keeping Biden's age issues a secret while they promoted his candidacy and donated millions.
Why it matters: The Democratic party has for decades relied on Hollywood to drum up support in the final months of the general election. Now, that alliance is being tested.
Golfing with llama caddies — who carry your clubs without complaining — is a surprisingly hot ticket in North Carolina.
Why it matters: Tourism and recreational activities involving llamas have been on an upswing.
Catch up quick: At the Sherwood Forest Golf Club in Brevard, the phone rings three to four times a day with people who want to book the llama golf caddies.
The world of luxury retail is consolidating fast. The announced $2.65 billion acquisition of Neiman Marcus by Saks Fifth Avenue will bring those two brands under the same roof as Bergdorf Goodman, Barneys, and Lord & Taylor — all backed by tech giants Amazon and Salesforce.
Why it matters: Luxury fashion brands are going from strength to strength, as exemplified by the $390 billion valuation of Bernard Arnault's LVMH. Luxury fashion retailers, on the other hand, are struggling.
President Biden is facing calls to step aside from some wealthy Democratic donors following his poorly received presidential debate performance, with at least two saying they'll pause contributions while he's still a candidate.
The big picture: Biden campaign officials held a call with anxious donors on Monday following his debate with former President Trump. But Abigail Disney, the granddaughter of Walt Disney Company cofounder Roy Disney, confirmed Thursday she'll no longer donate to the Democratic Party while Biden's in the race.
The U.S. economy added 206,000 jobs in June, the Labor Department said on Friday.
Why it matters: Job gains were in line with economists' expectations, but the report showed signs the labor market is cooling off. The unemployment rate ticked up to 4.1%, the highest since November 2021.
Activist investors were strong supporters of the SEC's changes to the way shareholders elect corporate directors. Then, when they finally got their wish last proxy season, the proportion of seats they won steadily dropped.
Why it matters: The new system, known as the Universal Proxy Card, or UPC, turns out to have been much more management-friendly than anybody expected.
Black Americans, and Black women in particular, tend on average to have lower 401(k) balances than the rest of the population, contribute less to retirement accounts, and be more likely to take out loans against the balance they do have. That's true even after adjusting for any difference in salary.
Why it matters: The Saver's Match, a federal retirement-savings incentive that is due to be introduced in 2027 as part of the Secure 2.0 Act, should help to narrow the gap, although it won't come close to closing it.
Millions of people across the U.S. celebrated Independence Day on Thursday in searing heat that's enveloped much of the country over the Fourth of July holiday.
The big picture: A record number of people were expected to travel for the holiday weekend that was marked by fireworks, parades and hot dogs. In the U.S. West, where a heat dome was expected to linger for up to two weeks, officials provided cooling stations across the region amid festivities.
