Uber and Chinese EV-maker BYD are gearing up to build what appears to be the start of a global robotaxi service.
Why it matters: Their partnership, announced today, comes ahead of Tesla's robotaxi product launch — which was recently pushed back to October from August.
McDonald's $5 meal deal is driving traffic and sales for U.S. restaurants, which experienced a "notable" bump from the promotion, according to a memo obtained by Axios.
Why it matters: Restaurant chains have been under pressure to promote affordability and value to entice consumers to eat out instead of eating at home.
The United Auto Workers endorsed Vice President Kamala Harris for president on Wednesday afternoon.
Why it matters: The UAW had been one of the few large unions to withhold an endorsement, as both parties vie to be seen as supporting labor and working-class Americans.
The Federal Reserve kept interest rates at a two-decade high on Wednesday, while leaving the door open for rate cuts as soon as its next meeting in September.
Why it matters: Inflation has receded alongside signs that high borrowing costs are taking a toll on the labor market—raising expectations that the Fed will lower rates soon.
A group of more than 200 venture capital investors, founders and tech leaders pledged to vote for Vice President Kamala Harris in the 2024 election on Wednesday.
The big picture: The largely Democratic-leaning Silicon Valley investors, organized under the name VCsForKamala, represent billions of dollars in assets and appear to be standing up as a counter to the chunk of tech billionaires lining up behind Republican nominee, former President Trump.
Boeing will be led by a new CEO, Kelly Ortberg, starting Aug. 8, the company announced Wednesday morning.
Why it matters: Ortberg, an outside hire and aerospace industry veteran, could lead to a crucial shift in Boeing's culture, which has been blamed for the numerous lapses in engineering safety over the past year.
Taco Bell is aiming to roll out AI drive-thru ordering at its restaurants globally — and it'll start this year with hundreds of U.S. locations.
Why it matters: Fast-food restaurants are grappling with labor shortages and AI could help with that — though it'll raise questions about jobs being replaced.
Boar's Head Provisions Co., Inc. is recalling approximately 7 million pounds of ready-to-eat meat and poultry products for possible listeria contamination.
Why it matters: There's a multi-state outbreak of listeria infections linked to meats sliced at delis, according to the recall notice on the U.S. Department of Agriculture's Food Safety and Inspection Service website.
Google's new ad for AI, featuring a dad using the Gemini chatbot to help his daughter write a fan letter to an Olympic gold medalist, is roiling the internet.
The big picture: A lot of viewers see the ad as a tone-deaf portrait of how AI could suck the humanity out of a tradition — the fan note — that's supposed to be handwritten and heartfelt.
Car insurance rates in Louisiana are the eighth most expensive in the U.S., according to a new analysis.
Why it matters: Fast-rising insurance rates are contributing to a transportation affordability crisis, especially in the many parts of the country where people have few alternatives to car ownership.
Mania for Din Tai Fung — a Taiwanese restaurant chain famous for soup dumplings — has hit New York City. To celebrate the opening, Axios has put together our Soup Dumpling Index, the economic indicator most likely to dribble down your chin and onto your shirt.
Why it matters: The Economist's Big Mac index has been going strong since 1986. Our more delicious version, it turns out, aligns surprisingly closely with it.
Sens. Tim Kaine (D-Va.) and Katie Britt (R-Ala.) are unveiling two bipartisan bills Wednesday aimed at making child care more affordable through beefed up tax credits and grants for child care providers.
Why it matters: It is rare bipartisan action as Republicans and Democrats each pitch themselves as the party that cares for American families. The proposal also comes as the debate heats up over what to do with Trump-era tax cuts expiring in 2025.
A major talent shakeup announced Tuesday at CBS represents broader challenges hitting the TV news industry during one of the most consequential elections in history.
The big picture: For now, TV news networks are enjoying a ratings bump thanks to a seismic news cycle, but that won't last forever. Disruption across networks is expected as their parent companies explore mergers and cost-cutting measures to prepare for the digital future.
