Americans are expected to "trade up" on online holiday purchases as retailers deepen discounts, data out Wednesday from Adobe Analytics suggests.
Why it matters: Trading up — or opting to buy a more expensive option of a product — is a reversal from the act of trading down, which is what many consumers have been choosing to do in light of high inflation.
French pharma giant Sanofi received binding offers for its consumer health business from private equity firms PAI Partners and Clayton Dubilier & Rice, with expectations that a deal would be worth at least €15 billion, per Bloomberg.
Why it matters: This would be the year's second-largest European private equity deal, behind KKR's deal for Telecom Italia assets, and largest in France.
An international fund that supports independent media on Wednesday unveiled an ambitious plan to raise $150 million by mid-2025 to bolster independent media in low and mid-income countries globally over the next three years.
Why it matters: The International Fund for Public Interest Media's (IFPIM) pitch to leaders in the public and private sectors is that without a vibrant free press, democracy cannot survive.
Vice President Kamala Harris will outline her economic vision to grow the middle class during a Pittsburgh speech Wednesday, as she seeks to draw clear contrasts between her policies and those of former President Trump.
Why it matters: The Harris campaign believes this speech could help define the Democratic presidential nominee as a champion of the middle class and Trump as being for billionaires, as she emphasizes her middle-class upbringing and his more prosperous start to life.
Meta's AI chatbot will start speaking this week, and its new voice capabilities will come in a variety of celebrity flavors.
Why it matters: AI providers are racing to expand their bots' capabilities from text- and image-making into the realm of voice as their battle to answer the world's questions continues.
"Tariffs are the greatest thing ever invented," the former president declared at a town hall in Michigan last week.
Why it matters: The impact of Trump's plan to impose massive tariffs — with or without the support of Congress — has become the single biggest economic question of the 2024 election.
You've heard it before. Financial literacy is a must-have in and out of business.
Okay, but: A recent Xero survey of 1,201 self-employed small business owners across the U.S. proves just how critical it is to starting and maintaining a successful business — especially for younger generations.
Caroline Ellison was sentenced on Tuesday to two years in prison by a federal judge in New York, for her role in the FTX cryptocurrency scandal.
Why it matters: Ellison arguably was the most important witness in the prosecution of FTX founder Sam Bankman-Fried, and her relatively lenient sentence reflected her cooperation.
The author of the popular children's book "Stella," which focuses on the adventures of a young child of color, has released a new addition.
Why it matters: Clothilde Ewing is publishing her third book, "Stella and Roger Can't Wait to Grow Up" (Simon & Schuster) on Tuesday, telling Axios she is fulfilling a promise to keep creating joyful stories where children of color can see themselves.
Koch Inc.'s private equity arm is in ongoing talks on a bid to buy Forbes in partnership with another individual investor, sources told Axios.
Why it matters: Koch Equity Development (KED) has a history of successful media investments, including its 2017 deal to back Meredith's acquisition of Time Inc. with $650 million and its 2018 and 2019 investments in Getty Images worth $550 million.
Telegram CEO Pavel Durov on Monday said his company will provide some user data, including IP addresses and phone numbers, in response to valid legal requests.
Why it matters: The move marks a major departure from Telegram's long-held position of siding with user privacy and free speech above broader safety and security concerns from government or law enforcement officials.
Hiring platform Greenhouse wants to make job hunting less frustrating for workers by spotlighting companies with good recruiting manners — such as not ghosting applicants and showing up prepared to interviews.
Why it matters: The job search process for both employees and employers has become more difficult amid a rise in spam applications, job posting scams aided by AI, and an explosion in AI-generated candidates and resumes.
The last full-size Kmart store in the continental U.S. is set to close in October, marking the end of the line for the retailer once known for its "Blue Light Specials."
Why it matters: After the Bridgehampton, New York store closes, there will be a small Kmart in Miami and a handful of stores in Guam and the U.S. Virgin Islands.
Beginning next month, The New York Times will make its audio subscription available for purchase through Apple Podcasts and Spotify.
The big picture: More publishers, including Vox Media and The Economist, are experimenting with paywalled podcasts as part of broader efforts to grow their subscription audiences.
There's another big divide emerging in this election. This time it's between voters and economists, finds new polling from the Wall Street Journal.
Why it matters: In their presidential campaigns, both Kamala Harris and Donald Trump are proposing economic policies that are really popular with voters. Mainstream economists, meanwhile, find these ideas "appalling," the Journal notes.
Buying secondhand items is "becoming a norm and mainstream," Eileen Fisher CEO Lisa Williams told Axios on Monday.
Why it matters: After years of "revenge spending" in the aftermath of the pandemic, some Americans say they've been turning away from overconsumption and focusing more on sustainability.
Amazon is striving to decarbonize parts of its business globally in an effort to progress its climate goals, chief sustainability officer Kara Hurst told Axios' Niala Boodhoo at Axios House Climate Week/UN General Assembly in New York City on Monday.
Why it matters: The company runs one of the biggest logistics and transportation networks in the world.
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