Delta is stripping snacks and drinks from some short flights, while expanding full service on others — the latest sign airlines are reworking what's included in a ticket.
Why it matters:Jet fuel — one of airlines' biggest expenses — has surged amid the Iran conflict, pushing up costs and forcing carriers to cut routes, raise fares and rethink service.
Crypto companies are increasingly looking toward a new world — one of tokenization and digital assets as financial infrastructure — and are anxious to leave the cyclical pain from long, cold crypto winters behind.
Why it matters: The shift could give digital asset companies a more stable business model, less dependent on volatile trading volumes.
The downfall of Spirit Airlines is casting a spotlight on the future of its budget carrier rival, Frontier Airlines, which is facing many of the same challenges.
Why it matters: The jet fuel price spike was the last straw for Spirit — which ceased operations early Saturday — and it's posing a serious challenge to Frontier, as well.
The Equal Employment Opportunity Commission has sued the New York Times for discriminating against a white, male employee who claims to have been denied a promotion based on his demographic attributes.
Why it matters: It marks the third lawsuit President Trump or his administration has filed against the Times in less than five years.
Vox Media is in late discussions with James Murdoch's investment firm, Lupa Systems, to sell its podcast network and part of its publishing business, a source confirmed to Axios.
Why it matters: Vox Media has been eyeing opportunities for months to sell its business in pieces, with the hope of reaping greater shareholder value than trying to sell it as a whole.
President Trump's immigration crackdown has not expanded job opportunities for American workers, a new study found — in fact, it's associated with an employment drain for some U.S.-born men.
Why it matters: The narrative of undocumented immigrants "taking" Americans' jobs has long been a propelling force behind the president's ICE enforcement push. But research suggests his mass deportations aren't clearing the way for U.S.-born workers in the job market.
Amazon is offering its distribution, parcel shipping and fulfillment services to outside businesses, not just to those on its marketplace.
Why it matters: The $2.9 trillion company is now aiming to be a dominant force in the global supply chain, going head-to-head against delivery companies like FedEx and UPS, as well as air freight and logistics firms.
OpenAI has launched a self-serve advertising platform, executives said, marking a significant step in its goal of generating $2.5 billion in ad revenue this year and $100 billion by 2030.
Why it matters: The new platform makes it easier for a broader set of advertisers to buy ads on ChatGPT.
OpenAI is making the default ChatGPT more accurate and more personal — changes that could increase people's reliance on it, while also increasing its access to their lives.
Why it matters: Even subtle changes to a chatbot's tone, accuracy or memory can trigger backlash.
Even with rising inflation, uncertainty around the war in Iran and surging oil prices, advertising-based companies continue to forecast strong growth, thanks to broad optimism in the markets fueled by AI.
Why it matters: For now, forecasters aren't baking macroeconomic chaos — including possible constraints on the supply chain — into their projections, but that could change if the Strait of Hormuz remains blocked.
In-Q-Tel is refashioning its investment strategy to focus on a smaller number of big bets in key areas like autonomy, contested logistics and critical infrastructure, CEO Steve Bowsher told Axios.
The big picture: The venture capital firm, birthed from the CIA, helped elevate Anduril Industries and Palantir Technologies, among the splashiest companies in today's defense-tech frenzy.
Its hundreds of other investments include drone-maker Neros, cyber specialist Twenty and remote-sensing company ICEYE.
JPMorgan Chase CEO Jamie Dimon stood next to Anthropic CEO Dario Amodei in New York on Tuesday and told Wall Street the AI buildout is worth every dollar.
Why it matters: With investors increasingly anxious about whether AI revenue can keep pace with spending, the head of the world's largest bank endorsed a capital expenditure wave projected to top $1 trillion next year.
Bullish, a crypto exchange led by former NYSE president Tom Farley, agreed to acquire transfer agent Equiniti from private equity firm Siris for $4.25 billion in stock.
Why it matters: This would further blur the lines — or perhaps bridge the gap — between crypto and traditional capital markets.
Private equity is now in bed with the same AI giants that are decimating the industry's portfolio values, particularly the hundreds of billions of dollars invested in software.
Driving the news: Both Anthropic and OpenAI have completed their deals to form AI consulting firms that are funded by, and will initially be used by, large private equity firms.
Anthropic announced its joint venture yesterday, while OpenAI's announcement is expected later this month.
A former Tesla executive leading Ford's secretive West Coast effort to design an affordable electric vehicle has a bigger, unspoken mission: help Ford reinvent the way it designs and builds cars around the world.
Why it matters: If vice president Alan Clarke's team gets it right in southern California, they will create a system Ford can replicate across the globe to stay competitive in a rapidly shifting market.
Fast-growing Southern cities like Nashville offer the best job opportunities for college graduates, according to a new study.
The big picture: Payroll processor ADP ranked cities based on 20-something hiring rates, wages and affordability. Southern spots outranked some more traditional destination cities.
The top 10 included Nashville; Birmingham, Alabama; Raleigh, North Carolina; Charlotte, North Carolina; and Tampa Bay, Florida.
How it works: Researchers analyzed 53 U.S. metro areas with populations of at least 1 million.
The bottom line: Entry-level hiring is rebounding this spring — but in a tough job market, young professionals' prospects may depend on the role, sector and location, the Wall Street Journal reports.
The biggest tech companies are set to spend $1 trillion on AI by next year, according to multiple banks, a bill so big that it's propping up both the stock market and economy.
Why it matters: Our financial system is now load-bearing on AI spending that may never pay off, and most investors can't even see what the full tab is.
Nationwide access to abortion pills is again in legal limbo, almost two years after the Supreme Court threw out a case challenging mail-order prescribing of the widely used drug mifepristone.
Why it matters: A circuit court ruling on Friday that dramatically dialed back access to the drug has caused confusion for pharmacies, telehealth companies and other clinicians, even in states where abortion is legal.
MIAMI — Formula One's explosive growth is driving a surge of capital into motorsports, according to racing leaders at an April 30 Axios Live and The Race Media event.
Why it matters: The source of the funding is also changing, shifting team ownership from passionate individuals to deep-pocketed institutions and corporate investors.
Axios' Dan Primack and The Race Media's Darren Cox moderated conversations with Global Ford Racing general manager Will Ford, RedBird Capital Partners chief commercial officer and operating partner Brandon Snow, and Atlassian Williams F1 Team principal James Vowles. The event was sponsored by Reynolds American, Forward Global and Senna.
What they're saying: Racing is a reliable investment opportunity because there is a limited supply of teams and demonstrated long-term interest in the industry.
"The most valuable IP out there in the world today is sports," Snow told Primack.
"This is an all-in commitment we're undertaking right now," Ford said. "It's here to stay."
Yes, but: Fans may be wary that investment in their teams is coming from venture capital.
State of play: RedBird Capital Partners and its consortium are reportedly looking to sell their 24% stake in Alpine's Formula One team.
"We're going to be long on F1 as long as we can be," Snow told Primack.
What's next: Entertainment titan Marvel is coming out with a comic collaboration tied to F1.
"I've asked them to replicate my eight-pack correctly," joked Vowles, who will be appearing in the comic.
"That just shows you the strength of sports at the moment."
