The Washington Post reportedly reinstated journalist Felicia Sonmez on Tuesday after suspending her for tweeting about Kobe Bryant's 2003 rape case allegation following his death in a helicopter crash on Sunday.
What they're saying: The Post said the reporter, Felicia Sonmez, "was not in clear and direct violation" of the newspaper's social media policy. Sonmez has been reinstated, according to the Washington Post Guild. More than 200 Post journalists expressed "alarm and dismay" at Somnez's suspension via a guild letter.
Buoyed by strong iPhone sales and a growing services business, Apple reported record quarterly revenue and profits that were well ahead of estimates and its own forecasts. Apple also projected revenue for the current quarter ahead of many analysts' expectations, sending shares higher.
Why it matters: The October-to-December quarter includes the all-important holiday shopping season, and Apple's results show the resiliency of its business.
Ben Smith, the longtime editor of BuzzFeed News, is leaving the company that he helped build and define after eight years to join the New York Times as a media columnist.
Why it matters: Smith is credited with having developed one of the most aggressive news operations created specifically for the internet generation.
The U.S. government's budget deficit is projected to top $1 trillion in 2020, according to the latest Congressional Budget Office report released Tuesday.
The big picture: If the projections pan out, this would be the first time since 2012 the deficit hit $1 trillion. In 2020, deficits are expected to increase from 4.6% of GDP to 5.4% in 2030 — growing to the highest sustained levels since World War II, according to the report.
A new report from Motherboard finds that antivirus software company Avast has been selling user data and browsing history. Dan and Motherboard's Jason Koebler discuss the deep granularity of the data being sold, and what it means for around 100 million of users.
Servco Pacific acquired a majority stake in Fender Musical Instruments by acquiring shares from co-investment partner TPG Growth.
Why it matters: Jimi Hendrix played a Fender at Woodstock. Bob Dylan played one in his first-ever electric performance. David Gilmour played on one The Wall. Kurt Cobain reveled in smashing them on stage.
Former Chartbeat CEO Tony Haile will finally launch his new venture-backed news upstart on Tuesday called Scroll.
The big picture. Scroll is meant to solve two problems at the same time: It’s supposed to bring in more revenue for publishers while also giving users who hate ads a better internet experience.
Flipboard on Tuesday will announce a new "Local initiative" to gather regional sources and national stories of local interest to users in 23 North American metropolitan areas, including Washington D.C., New York City, Los Angeles, Austin, Seattle, Toronto and Dallas.
Why it matters: Like other tech platforms, Flipboard is investing in local coverage because of audience demand.
Growing worry over the widespread outbreak of the Wuhan coronavirus is compounding an already jittery market and flipping the switch from risk-on to risk-off, as investors sell stocks and buy bonds.
Driving the news: The S&P 500 posted its biggest single day percentage loss since October and long-dated U.S. Treasury yields fell, putting yields on Treasury bills that mature in three months just 6 basis points below Treasury notes maturing in 10 years.
The Fed's balance sheet shrank last week with holdings touching their lowest level since mid-December, the strongest decline since the Fed restarted its bond-buying program in September.
Why it matters: The Fed will likely have to address its longer-term plans for liquidity injections to the repo market and the program that Chairman Jerome Powell has insisted on referring to as "not QE," but many market participants have dubbed "QE4," or the fourth phase of quantitative easing.
Boeing secured commitments of over $12 billion in financing from more than a dozen banks, CNBC reported Monday, citing unnamed sources.
Why it matters: The bailout will help Boeing maintain a healthier cash position as it deals with the fallout from a mandatory production stoppage of its 737 MAX jet after two crashes that killed hundreds of people.
President Trump's tariffs have notably increased the price of aluminum for U.S. businesses and consumers, a study provided first to Axios shows.
Why it matters: Trump has insisted the cost of the tariffs would be borne by China and other exporters, but the data shows that Americans are paying the costs.
While some of the lower-spending 2020 Democrats are investing most of their dollars in digital ads, the biggest spenders — Michael Bloomberg and Tom Steyer — are overwhelmingly spending more on television ads as a percentage of their budgets.
Why it matters: Their ad spend stands in stark contrast to that of the Trump campaign, which is investing much more heavily in digital advertising, especially on Facebook.
Over the past five years, Americans have become increasingly polarized in their media consumption diets based on their political affiliation, according to new data from Pew Research Center.
The big picture: It's not just news that polarizes us — it's our culture, too. Other studies out over the past year that suggest that the trend extends beyond news and information to entertainment and leisure.
Washington, Wall Street and Main Street are at war over regulatory changes based on a law that requires banks to invest in needy neighborhoods and lend to lower-income consumers.
Why it matters: A lot of money is at stake, and neighborhoods across the country could suffer or prosper depending on how (or if) the regulations are changed.
The Washington Post faced blowback Monday for suspending a reporter after she tweeted a story without comment the previous day about Kobe Bryant's 2003 rape allegation as others posted tributes to the basketball star following his death.
What's new: The Post expressed regret at speaking "publicly about a personnel matter" on Tuesday and said that the reporter, Felicia Sonmez, "was not in clear and direct violation" of the newspaper's social media policy. Sonmez has been reinstated, according to the Washington Post Guild.
Britain's Prince Andrew has so far provided federal prosecutors and the FBI "zero cooperation" in interviews regarding Jeffrey Epstein, prosecutor Geoffrey Berman said at a news conference Monday.
Why it matters: After stepping away from his royal duties in November, the prince said he was willing to help law enforcement investigations into Epstein and possible co-conspirators.
