Boeing has agreed to pay more than $2.5 billion to settle criminal charges related to a conspiracy to defraud the Federal Aviation Administration in connection with the agency's investigation into the Boeing 737 MAX, the Justice Department announced Thursday.
Why it matters: Two Boeing 737 MAX crashes killed a total of 346 people in 2018 and 2019 and highlighted massive oversight and safety lapses on the part of the airline manufacturer.
The average fuel efficiency of cars and light trucks sold in the U.S. dipped in model year 2019, newly released federal data shows.
Why it matters: Transportation is the nation's largest source of greenhouse gas emissions. The overall trends (see above) show that the sector is far from steep emissions cuts.
Goldman Sachs CEO David Solomon is preparing for more stock market volatility, particularly in the near term, and currently sees some "excess in markets," he told Axios in a phone call this week.
Why it matters: Solomon is the latest in a long list of high-profile CEOs, fund managers and investment strategists to warn that stock prices may be running away from reality.
Tesla CEO Elon Musk saw his net worth grew to over $185 billion as of Thursday, surpassing Amazon founder Jeff Bezos as the world's richest man, CNBC reports.
The big picture: Tesla's stock price skyrocketed in 2020, making the electric car company more valuable than the world's top seven traditional automakers in a year marked by massive economic turmoil. The outspoken CEO responded Thursday to the news that he was now the world's richest man, tweeting: "How strange ... well, back to work."
Many of America's top businesspeople have had enough of political pandering to the mob, and plan to deny future contributions to those who egged it on.
Why it matters: Senators like Josh Hawley and Ted Cruz may have been auditioning for 2024 presidential runs, but have alienated some of those who could have helped fund those campaigns.
After watching New Jersey turn into America's new sports betting capital this fall, New York Gov. Andrew Cuomo is ready to embrace mobile betting as a way to generate much-needed revenue for the state amid the pandemic.
Driving the news: In a statement to the New York Daily News, Cuomo said he will make mobile sports betting a central part of his policy proposals to be laid out in next week's State of the State address.
The ADP private payrolls report showed U.S. employers cut 123,000 non-government jobs in December, the first net job loss since April.
Why it matters: There are still 10 million more unemployed Americans than there were in February and the report suggests a weak job climate could persist, despite recent relief efforts from Congress.
U.S. stock prices were generally higher on Wednesday and riskier assets in most markets rose as investors showed little worry about protests in Washington, D.C. that devolved into violence and looting at the nation's capital by supporters of President Trump.
What happened: "The market primarily is looking at an economic recovery in the second or third quarter and hasn’t seen anything in the pandemic or political situation to change that view," Joseph Trevisani, senior analyst at FXStreet, tells Axios.
You can't understand America, 2021, without watching how right-wing media explained a mob storming the U.S. Capitol for the first time since the early 19th century.
The big picture: The right's favored media — conservative TV, websites and social networks —offered an alternate reality in which everyone but pro-Trump rioters were to blame for the mayhem at the Capitol.
Here's how 2021 is beginning:On one side of the Pacific, a show of strength that has shocked the world. On the other side, a show of weakness that has shocked the world.
Why it matters: The chaos that unfolded on Capitol Hill Wednesday afternoon is a sign that the U.S. can't even run an orderly transition of power, let alone project its soft power internationally.
