President Trump publicly turned against Fox News on Wednesday, tweeting that the conservative-leaning cable network "isn't working for us anymore" and that "[w]e have to start looking for a new News Outlet."
Be smart: The words "us" and "we" presumably refer to the most loyal supporters that make up Trump's base, whom the president hopes will help him pressure Fox into elevating pro-Trump coverage leading up to the 2020 election.
There had been debate among economists and fund managers about the importance of previous yield curve inversions, but Tuesday’s market action provided an unambiguous signal that investors are expecting a recession.
Driving the news: The U.S. Treasury yield curve completely inverted Tuesday, with 1-, 2- and 3-month Treasury bills all paying higher interest rates than 30-year Treasury bonds.
Peloton, the New York-based company best known for its stationary exercise bike and accompanying exercise videos, has filed to go public on the Nasdaq stock exchange under the symbol "PTON."
Why it matters: Peloton is both a hardware and software subscription company (and a content streamer), whose CEO boldly compares it to Apple.
By the numbers: Millennial homeownership is 8 percentage points lower than previous generations at this age. Student debt is at $1.5 trillion, with defaults rising. Just 37% of Americans under 35 owned stocks last year, vs. 55% in 2001.
The Athletic, a subscription-based digital sports media company, will begin experimenting with putting some of its audio content in front of its paywall in an effort to expand its audience, a source familiar with the plans tells Axios.
What's new: The company will start by offering one episode a week to non-subscribers in front of the paywall and one behind. The goal is to offer people who might be less likely subscribe to The Athletic the ability to sample some of company's content.
Local newspapers still heavily rely on obituary placements for revenue, according to data from local obituary and advertising placement firm Adpay, which is owned by Ancestry.com.
Why it matters: Obits, alongside public notice ads, are one of the last remaining consistent revenue streams that local newspapers rely on, although both are being challenged by the digital age.
Stocks jumped on Monday as investors bought optimism that a U.S.-China trade deal could be salvaged, despite a lack of tangible evidence that progress is being made.
The state of play: The market will need the animal spirits of trade-war hope, because many of the fundamental catalysts that have buoyed stock prices in years past are starting to unravel.
Mike Bloomberg and his advisers are embracing the forthcoming '"The Many Lives of Michael Bloomberg," by N.Y. Times veteran Eleanor Randolph, out Sept. 10 from Simon & Schuster.
The state of play: Bloomberg is so pleased with the book that he has told friends he'll send them a copy when it's out. Aides tell me they granted Randolph extraordinary access over several years.
