Major news, including events around the U.S. presidential election and the Olympics, have been disrupting consumer spending patterns, Amazon CFO Brian Olsavsky said Thursday afternoon.
Why it matters: Retail experts in January anticipated that politics would have an impact on businesses this year.
Intel plans to cut more than 15% of its workforce, the tech giant announced Thursday.
Why it matters: The company faces intense competition in the AI chip wars against companies like Nvidia, which has boomed alongside the demand for generative AI.
A trio of publicly traded crypto firms is reporting earnings Thursday, and the analysts covering them are keen on hearing from management where the industry goes from here.
Why it matters: Easing hostility around the industry and a shakeup in the presidential election have turned stock analysts more positive about the crypto shops they cover.
The Biden administration wants to ban airlines from charging parents to sit with their kids on flights.
Why it matters: The move is part of the administration's broader effort to ban what it calls "junk fees" and could compromise a source of profits for airlines.
What we're watching: The story of Mexico's first women police officers, a new season of "Unsolved Mysteries" and a movie starring SpongeBob's favorite squirrel.
While many Hollywood heavy hitters had cooled towards the Biden campaign, Vice President Kamala Harris' presidential bid has roused a flood of celebrity support for the Democratic ticket.
Why it matters: The star-studded entourage for Harris is one element of her campaign's reinvigoration for Democrats — energy they must now sustain through Nov. 5.
Garrett Marquis serves asmanaging director and chief communications officer at BNY, which was founded by Alexander Hamilton and was the first company to trade on the New York Stock Exchange.
Why it matters: Marquis and his team are tasked with introducing new audiences to the legacy bank through creative communications campaigns.
Earnings season has gone from jargon-laced calls and sleepy presentation decks to Instagram reels, livestreams and personalized letters.
Why it matters: Investors have limited time and, like most these days, shrinking attention spans. In response, corporate communicators are retooling how to creatively share the narrative behind the numbers.
Former CNN anchor Don Lemon sued Elon Musk and X Thursday, alleging the tech mogul refused to pay him after the contract for his show for the social media platform was canceled.
Why it matters: A tense interview between Musk and Lemon earlier this year preceded the show's cancellation, sparking further scrutiny of the billionaire's controversial leadership of the platform formerly known as Twitter.
Retired Gen. Paul Nakasone, the former leader of the National Security Agency and Cyber Command and current OpenAI board member, is joining Ballistic Ventures as a strategic adviser, the firm exclusively shared with Axios.
Why it matters: Cybersecurity startups increasingly need advice not only about business operations, but also about the national security threats their products are designed to fight.
Nvidia stock was in something of a short-term slump on Tuesday, closing the day at $103.73, down 26% from the all-time high set in June. Then Microsoft released its quarterly earnings.
The big picture: Microsoft announced a larger-than-expected $19 billion of capital expenditures in Q2 — that's $300 million per business day — and said "nearly all" of that was spent on building cloud and AI infrastructure.
A universal trait of highly successful activist hedge fund managers is that they're all convinced they know how best to run a public company. When they try, however, they don't always succeed.
The big picture: ESL's Eddie Lampert famously took over Sears in 2013, only to see that stock go to zero. Pershing Square's Bill Ackman listed his hedge fund in Amsterdam in 2014, but for most of the past decade, it has been trading unhappily well below its net asset value.
/2024/08/01/1722547633808.gif?w=3840)
/2024/08/01/1722518110347.gif?w=3840)
