Big Tech companies have been slashing headcounts over the past couple of years — and startups are also stretching their venture dollars by hiring less, according to data from Carta.
Why it matters: Stockpiling software engineers was a phenomenon of the zero-interest rate era — for big and small companies alike.
Google has decided to pull its Gemini Olympics ad featuring a dad asking the chatbot to help his daughter write a fan letter to her idol, gold medalist Sydney McLaughlin-Levrone.
The big picture: The "Dear Sydney" ad ruffled the feathers of online critics who believe that using generative AI to help a child write a fan letter sucks the life out of a time-honored tradition of fandom and also constitutes lazy parenting.
Chevron is relocating to Houston from its headquarters in San Ramon, California, the company announced Friday.
Why it matters: The move by the second-largest U.S. oil company marks another major California corporation relocating to Texas and further cements Houston's position as the so-called energy capital of the world.
Lyft has hired Terra Carmichael as vice president of communications, the company exclusively told Axios.
Why it matters: Lyft CEO David Risher has earned a reputation for being a very effective communicator, and Carmichael's team will help amplify the corporate narrative to appeal to riders, drivers, investors and legislators.
Context: Carmichael previously served as CCO at StockX and held senior communications roles at Eventbrite, software company Xobni and Yahoo.
She will report to Lyft's chief marketing officer, Brian Irving, and will serve on the executive leadership team. She will oversee corporate communications, product and brand comms, social media and editorial.
The Weber Shandwick Collective has appointed Susan Howeas chief executive officer; Lucia Domville joins as senior principal.
Burson has named Kasia ReterskaU.S. head of sustainability and social impact and Emily Portugal U.S. head of growth; The firm has also announced its digital and intelligence leadership team, including Michael Beno, Americas chair, digital; Kari Butcher, Americas chair, data & intelligence; Vikki Chowney, global head, influencer; Vicky Lewko, global head, digital health; Sama al-Naib, EMEA chief digital & innovation officer; Joe Peng, APAC and Greater China head of digital & intelligence; and Allison Spray, EMEA chief data & intelligence officer.
Pepsico alum Chris Kuechenmeister joined the American Red Cross as vice president, communications.
Paige Ennis joins the Bipartisan Policy Center as executive vice president, external relations; Cheryl Oldham is executive vice president, human capital.
Edelman alum Tesia Williams is executive vice president, public affairs and communications for Personal Care Products Council.
Meta alum Jess Orr joins the Alzheimer's Association as director, executive communications.
Courtney Haywood is director, communications in the President's Office at Prince George's Community College.
CJ Jackson joins the AI Education Project as communications director.
Why it matters: The jobless rate kept moving higher in July, adding to fears that the labor market—the bedrock of the economy—is slowing down and the economy is at risk of a recession.
Antitrust officials at the Justice Department are looking into complaints that chip giant Nvidia is allegedly abusing its market dominance in AI chips, according to a report from The Information.
Why it matters: Nvidia's leadership in advanced AI semiconductors has powered astonishing stock performance over the past year, and the company now owns between 70% and 95% of the market for AI chips used for training and deploying leading AI models, Mizuho Securities estimates, per CNBC.
The yield on the benchmark 10-year Treasury note plunged below 4% on Thursday — down more than a quarter of a point in the past week, and down more than 0.6 points from the end of May.
Why it matters: That's a significant easing of financial conditions — effectively a stealth rate cut ahead of the official rate cut that's all but certain in September.
HBO's finance workplace drama "Industry" is back with a third season, this time around grappling with the merits of ESG investing.
Why it matters: It's perfectly timed with the current real-world discourse on the topic, as skeptics and opponents ratchet up attacks to discredit the investment approach, which prioritizes environmental, social and governance concerns.
Three companies that reported second-quarter earnings on Wednesday — Moderna before the bell, and Intel and Snap after the close — got harshly punished by the markets.
Why it matters: The better the stock market broadly is doing, the more individual companies tend to fall on bad news.
For nearly a month, about 300 staffers at the country's largest labor union haven't worked or been paid. Their employer, the National Education Association, took the rare step of locking them out of work last month amid contract negotiations.
Why it matters: Barring employees from work, i.e., a lockout, is an aggressive step for any employer to take — especially for one that happens to be a labor union.
Moments before former President Trump took the stage at the National Association of Black Journalists annual convention in Chicago on Wednesday, the organization's president was called back to address an issue.
Why it matters: Trump did not want to be fact-checked live and was refusing to go on stage, NABJ president Ken Lemon told Axios.
Evan Gershkovich'slong-awaited release from a Russian prison Thursday came from thousands of hours of advocacy through quiet diplomacy and official channels, Wall Street Journal Publisher Almar Latour told Axios in an interview Thursday.
Why it matters: The release of Gershkovich as part of a prisoner exchange between seven countries — including Russia, the U.S. and Germany — represents a historic milestone for press freedoms around the world.
The biggest weekend of the year for tax-free shopping has arrived with 10 states holding sales tax holidays in early August.
Why it matters: It's a rare tax break for families preparing for a new school year with many grappling with higher-priced school supplies and clothing.
The big picture: President Biden and Vice President Kamala Harris joined families and others at Joint Base Andrews to welcome Wall Street Journal reporter Gershkovich, ex-U.S. Marine Whelan and Radio Free Europe/Radio Liberty journalist Kurmasheva, who's a U.S.-Russian citizen.
Drug stores' woes are working in favor of Amazon. CEO Andy Jassy on Thursday said that anti-theft measures in brick and mortar chains are helping to drive more customers to shop online and use Amazon's pharmacy business.
Why it matters: Walgreens, CVS and Rite Aid are among big pharmacy chains that have been struggling to keep up with the changing economics of their industry and shifts in consumer behavior.
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