The FTC has unanimously approved major changes to the pre-merger filing process, albeit fewer than originally proposed.
Why it matters: The FTC and Justice Department in June 2023 said that HSR needed to be modernized and streamlined, in order for them to more quickly and effectively determine when in-depth investigations are warranted.
Alchemy, a developer of in-house pharmacy programs for clinics with large HIV and hepatitis C patient populations, raised $31 million in seed funding led by Andreessen Horowitz.
Why it matters: Antiretrovirals are one of biotech's greatest success stories, but there still are disparities in who receives the drugs.
Some private equity firms are pulling back from investing in consumer companies that could be negatively impacted by the GLP-1 boom, believing that profits will get squeezed as obesity rates fall.
Zoom in: That could include certain snackmakers, alcohol producers, or restaurant chains. Or gyms. Or grocery, which earns much of its meager margin on items that many GLP-1 users no longer crave.
The U.S. Department of Transportation (DOT) levied a record fine against German airline Lufthansa Tuesday for discriminating against Jewish passengers who were stopped from boarding a 2022 flight.
Why it matters: The $4 million fine is the largest that the DOT has slapped an airline with for a civil rights violation.
Boeing has lined upaccess to as much as $35 billion in additional funds as it seeks to shore up its finances.
Why it matters: The jet maker is facing a bruising strike and is trying to recover from a series of quality and safety issues that have undermined production and deliveries.
Zoom in: Boeing disclosed today that it had secured a $10 billion credit agreement that it would have to tap within 120 days.
Separately, it filed a so-called shelf registration to raise up to $25 billion at any point over the next three years by selling stock or issuing debt.
The impact: Boeing shares rose over 2% to $152.35.
Catch up quick: The move comes days after the company announced plans to cut 10% of its workforce, or nearly 17,000 workers, as it cuts costs while production is hobbled.
More than a year after the outbreak of the Israel-Hamas war, conflict over editorial standards is still causing chaos in U.S. newsrooms.
Why it matters: American media has historically sided with Israel during times of geopolitical tension in the Middle East. But the war with Hamas has tested that precedent.
Driving the news: Paramount Global chair Shari Redstone publicly condemned CBS News' handling of a terse interview "CBS Mornings" co-anchor Tony Dokoupil had with author Ta-Nehisi Coates about the Israel-Palestine conflict.
"We made a bad mistake," Redstone told me on stage in New York last week.
Lori Goler, Meta's longtime head of people, is leaving Meta next summer, she told employees in an internal note obtained by Axios. She said Janelle Gale, a 12-year Meta veteran, will replace her.
Why it matters: Goler has led Meta's people team for more than 16 years, overseeing the growth of the firm's employee base from 500 in 2008 to more than 70,000 today.
Spotify is paying hundreds of millions on an annualized basis to audiobook publishers, according to internal figures obtained by Axios. The company has also doubled the number of titles available to premium members in the past few months from 150,000 to 300,000.
Why it matters: The figures, confirmed by a Spotify spokesperson, suggest Spotify's entry into the audiobook market is helping to significantly grow the pie for audiobook publishers at large.
The Associated Press will have more than 5,000 people working on election night, a new record in the company's 178-year history of calling elections, executive editor Julie Pace told Axios.
Why it matters: Thousands of newsrooms in the U.S. and globally rely on AP's data to cover the elections. Ahead of 2024, the not-for-profit news cooperative faces new challenges related to trust and misinformation.
Walgreens Boots Alliance plans to close about 1,200 stores, representing roughly 10% of its locations worldwide.
Why it matters: CVS, Walgreens and Rite Aid long held a tight grip over prescription fulfillment, but they're losing their footing to a multitude of competitors, including mail-in options, online pharmacies and big-box stores.
Starting in tax season 2025, more taxpayers will be able to file their taxes online for free with the Internal Revenue Service's expanding Direct File program.
Why it matters: The program, which the IRS rolled out in 12 states this year, could reshapehow millions of Americans pay and prepare their taxes.
The percentage of Americans who say they have a great deal or a fair amount of trust in the mass media has fallen to a record low, according to a new Gallup survey.
Why it matters: Media trust had started to rebound following the 2016 election, but those gains have been wiped out amid growing political partisanship.
Former President Trump accused Fox News on Monday of "constantly polluting the airwaves with unopposed" representatives of Vice President Kamala Harris after the network announced it's airing a sit-down interview with his Democratic presidential rival.
Why it matters: Harris and Trump will make dueling appearances on Fox News Wednesday with less than three weeks to go until Election Day.
