Tuesday's economy & business stories
Petsmart gobbles up Chewy.com for a reported $3.35 billion
Petsmart announced Tuesday it is buying online rival Chewy.com in a deal that values the online pet food seller at $3.35 billion, according to Recode.
Chewy will remain led by current CEO Ryan Cohen and operate "largely" as an independent subsidiary of PetSmart, whatever that means.
Big Bite: The reported price tag would make the deal larger than Walmart's Jet purchase and the biggest e-commerce-only acquisition ever, Recode said.

Another Bill O'Reilly accuser
A former clerical worker at Fox News has alleged that Bill O'Reilly sexually and racially harassed her according to attorney Lisa Bloom, who is representing the unnamed accuser. The woman claims O'Reilly used to "leer at her" and "grunt at her like a wild boar." He also used to call her "hot chocolate," Bloom told The Hollywood Reporter
The other side: Former Fox News producer Joe Muto weighed into the reports on Twitter: "As much as it pains me to defend him, this is bullshit. I sat 15ft from his office door from 2007-2012. No one like this woman was nearby."
Why this matters: There are now seven women accusing O'Reilly of sexual harassment, and with advertisers abandoning "The O'Reilly Factor," the Murdochs are reportedly "leaning toward" taking him off the air.

Tesla robotics workers threaten to strike
Workers at Tesla Grohmann Automation—the car company's robotics unit headquartered in Germany, are threatening to go on strike, the Wall Street Journal reports. According to IG Metall, the union representing Tesla Grohmann workers, Tesla is paying 30% below union wages following reforms it enacted after buying the company last year. Tesla disputes these numbers.
Why it matters: Telsa's acquisition of Grohmann Automation last November is a keystone of the carmaker's attempts to cost-effectively ramp up production from roughly 80,000 vehicles last year to 500,000 in 2018. Tesla said following the acquisition that the unit would design and produce "several critical elements of Tesla's automated manufacturing systems," which the firm calls "the machine that builds the machine."

Growth in digital media consumption is slowing
Rates of increase in digital media consumption continue to slow, according to projections by eMarketer.
What it means: Because the number of hours in a day doesn't increase, media consumption becomes a zero-sum game. Per eMarketer, "increased time spent with one medium will tend to come at the expense of time spent with another." Slowing digital growth could mean users aren't ready to fully give up other mediums (radio, TV, print, etc.).
Data: eMarketer; Chart: Lazaro Gamio / Axios

Why Fox & Friends is Trump's favorite interview
Here's how Fox & Friends host Ainsley Earhardt began her interview with the President and First Lady at yesterday's White House Easter Egg Roll:
- "Congratulations Mr. President and Mrs. First Lady for this wonderful event, you're the hostess of this."
- "That's wonderful. What's the best part about planning an event like this? Your first event."
- "And to be here with your whole family. How was Easter [to POTUS]?"
- "Can we talk politics, a little news right now?"

Artificial Intelligence is really good at predicting heart attacks
Better than the guidelines doctors use, in fact. That's the conclusion of a new study written up in Science magazine. Here's how they tested it: A UK epidemiologist and his colleagues tested four machine-learning algorithms against the doctors' guidelines, to see how well they could predict which patients would have heart troubles based on 2005 medical records. Sure enough, the artificial intelligence programs did a better job of predicting who actually had heart attacks and other problems within the next 10 years.

Netflix's subscriber growth slows
Netflix, which has been heavily banking on its original content like "House of Cards" and "Orange Is the New Black" to drive its streaming business, saw a slowdown in subscriber growth in the first quarter of 2017. Netflix added nearly five million total subscribers in the first three month of the year, significantly fewer than the record seven million it added the previous quarter.
Q2 forecast: With that said, Netflix expects to get back on track next quarter as far as its annual goals, calling these quarterly variations "mostly noise in the long-term growth trend and adoption of internet TV."
Why it matters: So far, the most important aspect of Netflix's quarterly results has been its subscriber growth—it's how the company reassures investors that it can continue to make more money.




