Why it matters: After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.
DoorDash's business boomed in the pandemic, becoming a literal lifeline to many. Now it faces big questions as restaurants reopen.
Axios Re:Cap talks to CEO Tony Xu about the future of his company and the broader restaurant and e-commerce industries.
Airbnb seems to be on the precipice of a business boom, as travel is expected to surge once herd immunity is achieved.
Axios Re:Cap speaks with CEO Brian Chesky about the company's first earnings report since going public, plus what's next for Airbnb, travel and hospitality.
While most airlines are reeling from the effects of the pandemic, Amazon is on track to double the size of its aircraft fleet by June, a DePaul University analysis found.
Why it matters: Exploding demand for next-day delivery is fueling rapid growth of Amazon Air, the online retailer's air cargo business.
This week I'm driving the 2021 Buick Envision, a rare American SUV that's built in China.
The big picture: Greeted with controversy when it debuted in 2016, the Envision occupies an important spot in Buick's all-SUV lineup, sandwiched between the stubby little Encore and the family-hauling Enclave.
GLAAD, a leading LGBTQ rights organization, plans to start rating social media companies based on how well they protect people from abuse, officials tell Axios.
Why it matters: Studies show that LGBTQ youth are three times as likely as their non-LGBTQ peers to be bullied on social media.
The Biden administration earlier this week paused the Paycheck Protection Program for businesses with more than 20 employees, in an effort to get more loans to very small businesses.
Why it matters: PPP implementation has taken lots of arrows since its initial launch last April, but this move seems to be getting broad-based applause. Even if no one really knows if it will achieve its objective.
Arrival of the first vehicle from the high-profile, soon-to-be public EV startup Lucid Motors will take longer than the company planned.
Driving the news: Lucid CEO Peter Rawlinson said in an open letter that COVID-19 is forcing a delay in production of the luxury Lucid Air sedan.
A Boeing 777 plane made an emergency landing in Moscow on Friday due to a warning of possible engine failure, the New York Times reports.
Why it matters: Boeing planes still face a degree of public doubt following two deadly 737 Max crashes in 2018 and 2019. Two additional Boeing planes have experienced issues this month, with a Boeing 747 cargo plane malfunctioning in Europe and a Boeing 777's engine failing over the Denver area.
Warning bells about a slowdown in the white-hot housing market are ringing louder thanks to an uptick in mortgage rates and new weakness in pending home sales.
Why it matters: Mortgage rates plummeted in 2020 as the economy buckled under the pressure of the coronavirus pandemic. Now that trend is reversing, putting a damper on consumer appetite for homebuying.
The CEO of the Canada Pension Plan Investment Board has resigned after the Wall Street Journal revealed that he traveled to the United Arab Emirates to obtain the first dose of a coronavirus vaccine.
Why it matters: Mark Machin, who managed $375 billion in assets as head of Canada's largest pension fund, reportedly used his connections to jump over millions of Canadians waiting in line for a vaccine.
The labor market is showing some signs of improvement: Jobless claims fell to 730,000 — a dramatic drop from 841,000 the previous week. And the latest jobs report showed a pandemic-era low unemployment rate of 6.3%
But, but, but: That's not the full story, experts say.
A milestone was reached in the markets Thursday: The yield on the 10-year Treasury note rose to match the dividend yield on the S&P 500
Why it matters: The two yields have been inverted since the beginning of last year, which is historically unusual.
Business Roundtable, the voice of America's top CEOs, today launched "Move the Needle," a campaign to support President Biden in rolling out COVID vaccines, increasing vaccine uptake and encouraging masks.
What they're saying: "Masks and vaccines are working. Now is the time to keep at it, overcome pandemic fatigue, and double down on the measures that will end this public health and economic crisis, said Business Roundtable president and CEO Josh Bolten.
Facebook's 3 billion monthly active users, its mountain of money and its control over the flow of information all put the company on an equal footing with governments around the world — and, increasingly, it's getting into fights with them.
Why it matters: Facebook's power alarms governments fearful that the tech giant could tilt the political scales inside their borders, and regulators around the world are seeking ways to rein the company in.
Nearly half of employers say they're at least considering the idea of requiring proof of vaccination as a condition for employees return to in-person work, according to a survey from Willis Towers Watson.
Why it matters: The gradual upticks in mass vaccinations has allowed America's workforce to begin to picture reopened office buildings.
Passenger rail could be the big winner if Congress moves ahead with President Biden's ambitious infrastructure plan.
Why it matters: There's long been bipartisan support for rebuilding America's crumbling infrastructure, but under Biden, the focus has shifted to sustainable projects that fulfill both his climate and equity goals, such as rail transit.
The Senate parliamentarian ruled Thursday that the provision to increase the minimum wage to $15/hour cannot be included in the broader $1.9 trillion COVID relief package.
Why it matters: It's now very likely that any increase in the minimum wage will need bipartisan support, as the provision cannot be passed with the simple Senate majority that Democrats are aiming to use for President Biden's rescue bill.