Why it matters: Biden's every word and move will be dissected and every mangled sentence scrutinized, Axios' Jim VandeHei and Mike Allen write in their latest Behind the Curtain column.
Consumers have had enough of price increases, and they're pushing back, according to reports from several consumer-centric companies today.
Why it matters: Today's Consumer Price Index report showed inflation cooling off, as the cumulative effect of price increases since the pandemic has reoriented consumer behavior.
From 2020 to 2022 — amid the height of the pandemic — Lyft saw an increase in motor vehicle fatalities and fatal physical assaults, and a decrease in the five most serious types of sexual assaults as compared to 2017–2019, per its second safety report.
Why it matters: Both Lyft and its rival, Uber, have long been criticized by victims for not doing enough to protect passengers and drivers.
Tesla is postponing its highly anticipated robotaxi event by about two months to give its teams time to build prototypes, according to a Bloomberg report on Thursday.
Why it matters: CEO Elon Musk had been positioning the planned August 8 reveal as a preview of the next leg of Tesla's growth amid flagging demand for electric vehicles and intensifying competition.
Archegos founder Bill Hwang and former CFO Patrick Halligan were convicted of defrauding major banks along with other criminal charges late Wednesday.
Why it matters: "Rather than fleecing everyday investors, families and mom-and-pops, Hwang's victim was Wall Street itself," Bloomberg's David Rovella notes.
Hiring has cooled off such that the job market alone is no longer a reason to keep rates high — in fact, doing so might hurt the economy.
Why it matters: It's a flip from the past three years, when the Federal Reserve pointed to a too-hot labor market as a reason for the central bank to keep downward pressure on the economy.
The latest Consumer Price Index report, out Thursday morning, revives confidence that America's inflation problem is truly receding.
Why it matters: At the beginning of the year, the reacceleration of inflation stoked fears that progress would stall. Now, that data looks more like an abnormality.
Vista Outdoor's saga has taken a surprise twist, as influential stockholder advisory firm Institutional Shareholder Services reversed its support for the company's planned sale of its ammo business to Czech arms company Czechoslovak Group.
Why it matters: This could be a boost for the Dallas family office MNC Capital, whose $42 per share, all-cash bid for the entire company was rejected.
U.S. startups received significantly more venture capital funding in Q2 2024 than in the prior quarter or in Q2 2023, according to data released Wednesday by PitchBook and the National Venture Capital Association.
Yes, but: The number of startups receiving such funding, however, was significantly lower — reflecting how a small number of giant AI deals are skewing the data.
Helsing, a German defense-tech startup focused on NATO's Eastern flank, has raised €450 million in new venture capital funding at a reported €4.95 billion valuation.
Why it matters: Russia's invasion of Ukraine has opened the floodgates of defense-tech investment in Europe, where U.S. startups sometimes struggle to get contracts.
The Consumer Price Index fell 0.1% in June and the measure that strips out energy and food costs rose by the same amount, the Labor Department said on Thursday.
Why it matters: The new data shows price hikes slowed sharply last month — offering relief to American consumers and bolstering the case for the Federal Reserve to cut interest rates.
Privacy advocatesand lawmakers from both sides of the aisle are raising concerns about the Mall of America's use of AI-fueled facial recognition technology.
Why it matters: The expansive shopping and entertainment center says the tool will help keep customers and staff safe, but critics argue it presents privacy and civil rights concerns.
The Energy Department is giving automakers and suppliers nearly $2 billion to save at-risk or shuttered plants — if they convert to serve the electric vehicle market.
Why it matters: The money via the 2022 climate law is among the most direct White House attempts to fuse manufacturing and climate policies.
Amazon revealed some of its Prime Day discounts on Thursday ahead of its crucial mid-year sales period on July 16 and 17.
Why it matters: Competition for deal-hungry consumers has intensified in recent years as Amazon Prime Day has spawned other retailers like Best Buy and Walmart to host their own sales around the same time.
