Axios

Boeing is cutting 10% of its workforce — nearly 17,000 workers — as it restructures to reduce costs, the company's new CEO announced Friday.

The big picture: The embattled aerospace titan has been facing a crippling strike, while it tries to ramp up production and improve its reputation following a series of quality and safety issues.

Former President Trump will participate in a town hall hosted by Fox News next week with an audience composed entirely of women, the network announced Friday.

The big picture: The event, which will focus on women's issues, comes as the Republican presidential nominee falls well behind Vice President Kamala Harris among women voters, particularly on abortion rights.

Elon Musk, the richest man in the world, has become deeply entangled with former President Trump in the homestretch of the presidential election.

Why it matters: The Telsa and SpaceX CEO and X owner's political activism is a hard pivot from originally claiming he wouldn't donate to campaigns to pouring tens of millions of dollars into Trump's campaign and saying he's "f---ed" if Trump loses.

Elon Musk last night did what he does best — put on a show.

Why it matters: The Tesla CEO needed to sell a flashy story about the company's future amid declining present-day demand for its EVs — but in the eyes of most investors after the literal smoke cleared, the unveil failed to live up to the hype.

Venture capital's lack of exits is restricting new deal activity, according to the latest PitchBook-NVCA Venture Monitor.

The big picture: Distributions to limited partners in VC funds haven't been this low since the Great Financial Crisis, sparking what PitchBook refers to as a "stalemate."

There's a gender pay gap at the top, but it's flipped. Women CEOs are out-earning their male peers.

Why it matters: Typically, men make more than women.

Former President Barack Obama on Thursday delivered some of his most pointed remarks yet against GOP presidential nominee Donald Trump during the Democrat's first rally for Vice President Kamala Harris.

Why it matters: Obama acknowledged as he made an impassioned case for Harris in the key battleground state of Pennsylvania, where polls indicate the presidential race toss-up margins could be closer than in 2020, "this election's going to be tight."

Tesla CEO Elon Musk unveiled a self-driving vehicle with no steering wheel or pedals Thursday night, saying it would go into production before 2027.

Why it matters: Musk has been teasing the robotaxi for years, but the so-called Tesla Cybercab took a step closer to becoming a reality when it dropped Musk off at the stage for the company's "We, Robot" event on the Warner Bros. Studios lot in Hollywood.

A "mechanical issue" at a disused Colorado gold mine left one person dead and 12 trapped, officials said Thursday.

The latest: All of those who became trapped during a tour of the former Mollie Kathleen Gold Mine in Cripple Creek after an elevator malfunction have been rescued, Colorado Springs Fire Department said on X.

Cryptocurrency market maker Cumberland, a part of the trading firm DRW, reacted defiantly to a lawsuit from the U.S. Securities and Exchange Commission Thursday.

Why it matters: The SEC's action against one of the longest standing providers of liquidity across trading venues in the digital assets markets is very different than the cases the agency has brought against fraudsters and market manipulators.

Tesla is poised to debut its long-awaited robotaxi Thursday night — and possibly an update on its humanoid robot — in a reveal that will require observers to separate sizzle from substance.

Why it matters: Tesla CEO Elon Musk has described self-driving car technology and AI robots as essential to the company's current stock valuation and its future.

More than 2 million Fisher-Price Snuga Swings were recalled following the deaths of five infants over a decade.

State of play: Suffocation risks prompted the recall, and customers are told to remove parts of the swing before continuing to use it for "awake-time activities" only.

TD Bank has agreed to pay more than $3 billion in federal penalties in connection with an admission that it failed to prevent money laundering, including by drug traffickers, and a massive Ponzi scheme.

Why it matters: TD Bank is the 10th largest bank in the U.S. with some $367 billion in assets as of Dec. 31, as well as 27,000 employees and more than 1,100 branches.

Vice President Harris and former President Trump will not participate in a second presidential debate, as the deadline to agree to CNN's debate terms expired.

Why it matters: The missed deadline means the ABC News debate on Sept. 10 was the only chance for voters to hear from both candidates side by side ahead of the Nov. 5 election.

Newsrooms are shrinking and audiences are becoming more dispersed as independent journalists successfully launch Substacks, content creators pivot into podcasting and TikTokers report on the news.

Why it matters: This is changing how brands, executives and politicians are engaging with the media.

Andrew Noyes has spent his career helping companies become better known and understood.

Why it matters: Now, he leads communications and corporate affairs for sustainably sourced food company, Daily Harvest.

Social Security retirement and disability benefits for 2025 will increase by 2.5% and about $50 a month starting in January, the government announced Thursday.

Why it matters: The cost-of-living adjustment, known as COLA, is lower than the average of the last decade of 2.6%.

The Athletic, a subscription sports news site owned by The New York Times, and Yahoo Sports are teaming up to launch a new hub for women's sports coverage on Yahoo Sports' website and app.

Why it matters: "While we can create all the best stuff in the world, it's only as important as the audience we can get to it," The Athletic's chief commercial officer Sebastian Tomich told Axios.

General Motors is launching a battery-powered home-energy storage system, placing the company in direct competition with Tesla.

Why it matters: Stationary power storage can serve as an alternative to home generators and can provide a charge to electric vehicles when the electricity is out.

The Consumer Price Index rose 2.4% in the 12-month period that ended in September, while a gauge that strips out food and energy prices was 3.3%, the government said Thursday.

Why it matters: The September CPI report is the latest data indicating that the inflation crisis is in the rear view mirror, with few signs of price pressures reigniting.

Exxon said it obtained over 271,000 acres in Texas state waters for subsurface CO2 storage from planned Gulf Coast projects.

Why it matters: The lease is the country's largest offshore storage site — and an important part of Exxon's emerging Gulf infrastructure for the tech, the company said.

Last week, the entire country of China somehow became a meme stock. Now the party looks as though it's over — for the time being.

Why it matters: China's leadership is attempting something very delicate and difficult — it wants to boost the economy without inflating a speculative bubble in asset prices.

Kamala Harris' proposal to create a Medicare benefit for long-term home care targets an underappreciated part of the economy: caregiving.

Why it matters: The sector is staffed by underpaid and unpaid workers — mostly women — carrying out crucial jobs that will only become more important as the population ages.

Here's what's new on Hulu, Netflix, Peacock, Apple TV+, Prime Video and Max.

What we're watching: The return of "Abbott Elementary" and "Outer Banks," plus a documentary featuring new interviews with the Menendez brothers.