Venture capitalist Ben Horowitz and his wife Felicia plan to make a "significant" personal donation to Vice President Kamala Harris' presidential campaign, Axios has learned.
Why it matters: Horowitz and business partner Marc Andreessen stunned Silicon Valley in July by endorsing and donating to Donald Trump, saying he was the best candidate for technology startups.
When the apolitical officials at the Bureau of Labor Statistics get new information about the economy, they update prior data to reflect that reality.
Why it matters: A string of public figures and social media commentators have incorrectly suggestedthat the monthly jobs figures are "fake," pointing to the number of downward revisions in recent months.
A blowout jobs report Friday suggests the labor market is thriving, bucking fears that a recession was ahead. And the port strike — feared to cause widespread economic damage — is over.
Why it matters: In less than 24 hours, two risks hanging over the economy look to be solved, at least for now. That paves the way for less economic turmoil with just weeks to go until the election, where economic sentiment is expected to sway voters.
Seven & i Holdings, the Japanese owner of 7-Eleven, is weighing a sale of shares in its supermarket unit ahead of listing the business, according to Reuters.
The big picture: The convenience store giant is under activist pressure to improve earnings, and seems to be throwing its Slurpees against the wall to see what sticks.
America dodged a sledgehammer on Thursday night, when striking stevedores reached a tentative agreement to return to work.
The big picture: It sounds like the White House successfully cajoled the employers into boosting their wage offer, up to a reported 62% raise over six years, but the two sides couldn't come to terms on the future of port automation and semi-automation.
A CVS breakup — which reportedly is on the table — would be pretty hard to actually do and could come with a lot of downsides, and most people seem skeptical it'll happen.
But the fact that it's being discussed at all is notable in an era where vertical integration is all the rage.
Why it matters: Though CVS's woes may seem very specific to the company and its unique compilation of business lines, they overlap with some industrywide risks and suggest that not all consolidation strategies are created equal.
Elon Musk will attend former President Trump's rally in Butler, Pennsylvania, on Saturday, the billionaire announced in a post on X late Thursday.
Why it matters: Trump's return to the scene of the first assassination attempt against his life had already raised concerns among local officials, per Axios Philadelphia's Isaac Avilucea.
The U.S. economy added a blowout 254,000 jobs last month, while the unemployment rate ticked down to 4.1%, the Labor Department said on Friday.
Why it matters: The big gain is a relief after previous data suggested the job market was sluggish. The new report should ease fears of a labor market slowdown.
One of the biggest inefficiencies in the nonprofit world is the fact that charities are rewarded for fundraising prowess more than they are for their skill at making the world a better place. Causeway, a new product from Charity Navigator, is an attempt to address that problem.
Why it matters: The less effort that charities have to spend reaching individuals and persuading them to open their wallets, the more they can focus on their core activities.
Democratic presidential candidate Kamala Harris' plan to build 3 million new houses has one group very excited: the YIMBYs.
Why it matters: The "yes in my backyard" activists who bemoan the U.S. housing shortage and push for more home building say they've never seen a politician on the national level that's been as explicitly pro-housing.
L.A. prosecutors are reviewing new evidence that could reduce the prison sentences of Lyle and Erik Menendez, the brothers who were convicted of killing their parents in 1989.
The big picture: The reviewcould lead prosecutors to reduce the brothers' sentences, give them new trials or simply release them.
The union for striking dockworkers said Thursday evening they'll return to work at 14 major ports stretching from Maine to Texas, after reaching a tentative deal with the United States Maritime Alliance.
Why it matters: There were concerns that if the first port strike on the East Coast since 1977 had continued it could have hit supply chains and driven shortages and higher prices, per Axios' Emily Peck.
/2024/10/03/1727994971452.gif?w=3840)
