Elon Musk threw his weight behind Trump transition co-chair Howard Lutnick for Treasury secretary on Saturday, signaling a late move to influence a looming – and key – choice.
Why it matters: Musk has grown increasingly important in President-elect Trump's orbit, and Treasury secretary is one of the last major posts not yet filled.
Elon Musk has persuaded President-elect Trump that government has grown so big, bloated, slow and sclerotic ... only a wrecking ball can fix it.
Soon, that ball will slam into hard reality: Politicians like to giveth, not taketh away.
Why it matters: Trump is more fixated on a "deep state" blocking his ambitions, than cost savings, advisers tell us. But he has bought into the Musk concept of using AI and lean-business thinking to try to dramatically shrink a government he helped grow, they say.
Parents tell Axios they're still helping their kids pay for new houses.
Why it matters: As housing costs soar, 26% of younger people who recently bought homes say they used family cash for down payments, up from 23% last year, according to Redfin research.
Why it matters: The richest person in the world has devoted considerable time lately to his newfound alliance with President-elect Trump, but in the meantime, his companies are attracting a deluge of capital.
Why it matters: When Berkshire Hathaway invests in a stock, it's viewed as an endorsement by Warren Buffett himself.
Zoom in: Berkshire's investment — it disclosed last night that it had acquired 1.28 million shares of Domino's for about $549 million — is a bet that the chain can overcome recent struggles.
Domino's sales have been middling in recent quarters. But analysts say the company may be poised for a sales boost if and when it finally agrees to third-party delivery through DoorDash.
The company — which had long insisted on handling its own delivery — struck a partnership with Uber Eats in 2023 that was exclusive until "at least 2024."
Friction point: Tyson, 58, is coming out of retirement to face the 27-year-old social-media celebrity and boxer.
Follow the money: "I'm shocked at how much this fight is being bet," Westgate Sportsbook risk manager Andrew Babakitis told ESPN. "It almost feels like a joke, but it's not. There's some serious money on this thing."
One trader at a top U.S. sportsbook told Legal Sports Report that it's "insane" how much money they've taken on the fight. "We didn't expect anything like this."
The intrigue: Most of the betting public is backing Tyson, but a number of major wagers — including at least one seven-figure bet at Caesars — have come in on Paul.
LISBON, Portugal — Small business owners and artists can boost their visibility on Etsy by sharing videos of themselves at work, Etsy CEO Josh Silverman tells Axios.
Why it matters: The platform known for being a marketplace for handmade goods has seen a flood of mass-produced products in recent years — making it more difficult for creators to stand out and compete.
President-elect Trump yesterday said that he'll nominate Robert F. Kennedy Jr. to lead the Department of Health & Human Services, sending shockwaves through the biotech sector.
Why it matters: Investing in vaccine and other drug development is inherently risky and expensive, and soon may have the added variable of a medical conspiracy theorist leading a department that oversees the FDA.
Chinese robotaxi operator Pony AI has set its U.S. IPO terms to 15 million shares being offered at between $11 and $13.
Why it matters: This is the first ZIRP unicorn in quite some time to prep a float at below its last private market prices, apparently deciding it's better to take its medicine now than to eventually die of thirst.
Sports gamblinghas swept the nation since the U.S. Supreme Court opened the door in 2018 for states to allow it, but the two most populous states — California and Texas — are among the holdouts.
Why it matters: If sports betting becomes legal in California, it'd immediately become the top market in the country.
Holiday drink season has arrived with cafes and restaurants across the country now serving peppermint, gingerbread and cookie-flavored beverages in "red cups."
Why it matters: Businesses are capitalizing on holiday cheer to create a buzz and drive sales.
President-elect Trump's initial Cabinet picks show he'smoving swiftly to implement the anti-trans, anti-DEI and anti-social justice agenda that underpinned his reelection campaign.
Why it matters: In the eyes of many Republicans, Trump's decisive election victory vindicated their hostility toward nebulous "woke" ideologies. In practice, their plans could mean purging the federal government of policies Democrats supported to reverse what they saw as unfairness and inequalities.
Bitcoin hacker Ilya Lichtenstein was sentenced on Thursday for his role in a money laundering conspiracy related to the theft of $3.6 billion worth of cryptocurrency from virtual currency exchange Bitfinex, the Department of Justice announced.
The big picture: Lichtenstein, who last year along with his wife, Heather Morgan, pleaded guilty in New York to one count of conspiracy to commit money laundering over the 2016 theft of nearly 120,000 bitcoin from Bitfinex, received a five-year prison sentence.
Regardless of how President-elect Trump changes the Biden administration's long-term climate policies, automakers are already panicking about state-level electric vehicle mandates just around the corner.
In California and 11 other blue states that follow its lead, 35% of new cars must be electric starting with 2026 models — some of which will be in showrooms as early as next spring.
