The latest sign of a return to normal: The traditional in-person wedding is plotting a comeback.
Why it matters: The colossal wedding business — already facing upheaval as marriage rates plummet — was left for dead by the pandemic. The effect crushed revenues for the lengthy list of love beneficiaries: vendors, florists, hotels, caterers, jewelers, makeup artists and more.
A gambler's optimism is driving a reopening burst in Vegas, with the planned return of poolside Bacchanalia and sprawling trade shows, along with Cloroxed slots and socially distanced dining.
The big picture: The city's unemployment is 10.5%, visitor counts were down 55% last year and gambling revenue fell 37%, The Wall Street Journal reports.
Coca-Cola is as much a part of New York City bodegas as are corn chips and cats. But a trade group representing Latino bodega owners is threatening to boycott Coke products over the company's decision to close a Latin affairs office and some funding decisions the group believes are inequitable.
Axios Re:Cap digs into the possible boycott and what's behind it with Frank Garcia, chair of the National Association of State Latino Chambers of Commerce and a onetime Coke ally, who worked to fight against former Mayor Bloomberg's soda tax.
The trouble with government bailouts is you never really know whether they were necessary, and that's likely to be the case with the U.S. airline industry, too.
Why it matters: One year into the pandemic, it's not clear whether the $54 billion the U.S. Treasury used to prop up airlines during the pandemic was the right move, or just an expensive gift to a politically favored industry.
Charlotte's Bank of America Stadium is 6 months away from its pre-season games, and preparations are underway to make its sporting events as safe as possible, Tom Glick, team president of the Carolina Panthers, told Axios Local at a virtual event on Friday.
Why it matters: Glick said that hosting sporting events during COVID-19 meant a "reinvention of the experience," and that continuing to evolve safety protocols will be key to getting fans to return to in-person events.
The hottest-selling electric vehicle on the planet isn't the Tesla Model 3 anymore. It was toppled in January by a pint-sized Chinese model called the Hong Guang Mini EV, reports China Daily.
Details: The four-seat city cars are flying out of showrooms thanks mostly to their irresistible starting price: $4,500, writes China auto expert Michael Dunne, CEO of the advisory firm ZoZoGo.
Sony's PlayStation division has bought the Evolution Championship Series (Evo), the long-running fighting game tournament that hosts contests between the world’s best players of video games such as "Street Fighter," "Mortal Kombat," and "Tekken."
The big picture: Video game giants such as Sony and Microsoft usually buy companies that make games. But Sony's acquisition of Evo, made jointly with a new group called RTS, is the rare purchase of an event — and a notable move for Sony into competitive gaming.
Chubb offered to buy rival property and casualty insurer Hartford Financial Services Group for $23.24 billion in cash and stock.
Why it matters: This would be the largest U.S. property insurance and casualty insurance merger since the current version of Chubb itself was created in January 2016, via the nearly $30 billion merger with Evan Greenberg's Ace Ltd.
A $15 billion SPAC deal involving Apollo Global Management and Vista Equity Partners has collapsed, as first reported by Bloomberg and confirmed by Axios.
Why it matters: The failure reflects both deepening difficulties in obtaining PIPE financing, and broader concerns that tech valuations may have peaked.
This week's initial jobless claims report marked a sobering milestone — it was the 52nd straight week that more than 1 million Americans filed for unemployment assistance.
Why it matters: The applications for traditional or pandemic-based unemployment benefits continue despite more than $5 trillion in dedicated government spending and $3 trillion added to the Federal Reserve's balance sheet.
Washington Post journalists Yasmeen Abutaleb and Damian Paletta will be out June 29 with "Nightmare Scenario," a scoopy narrative of President Trump's chaotic response to the pandemic.
Javelin'sKeith Urbahn and Matt Latimer are the agents. Harper V.P./Executive Editor Jonathan Jao is editor.
Why it matters: Harper, the publisher, says the authors "reveal the numerous times officials tried to dissuade Trump from following his worst impulses ... And they show how the petty backstabbing and rivalries amongst cabinet members, staff, and aides, created a toxic cycle of blame, sycophancy, and political pressure."
For the first time in history, the NFL said Thursday it agreed to license all of its Thursday Night Football games exclusively to a technology company, Amazon.
Why it matters: It's a major milestone for streaming. "To-date, no streaming platform has made a substantial sports rights acquisition," Rich Greenfield, partner at LightShed Ventures, wrote in an analyst note.
Homelessness across the U.S. increased by 2.2% in 2020 compared to 2019, making it the fourth straight year that the nation's population of homeless people grew, according to a report released by the Department of Housing and Urban Development on Thursday.
Why it matters: The uptick, based on a once-a-year count in January 2020, does not reflect the impact of the coronavirus pandemic, which unleashed financial pain on millions of people across the country and likely contributed to increased homelessness — especially in communities of color.
The January attack on the U.S. Capitol had a larger impact than previously known on corporate political giving, new campaign finance filings indicate.
Why it matters: The immediate and intense political fallout over the insurrection pushed scores of companies to announce a pause or end to political donations. New numbers suggest an even larger chilling effect, with companies that had been quiet publicly also forgoing donations.
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