A Minor League Baseball campaign targeting U.S. Latinos has amassed widespread community acclaim and engagement as overall baseball fan participation dwindles.
Silicon Valley lawyers and wealth managers had their switchboards melt down yesterday, as word spread that House Democrats have proposed to retroactively end the tax break for qualified small business stock (QSBS).
Why it matters: Many startup founders and early employees have made major financial decisions based on the QSBS tax exemption, which has been at 100% since 2009.
In one of the worst years ever for the economy and labor market, America's poverty rate dropped, per one measure that takes into account pandemic-era aid, the government said Tuesday.
Why it matters: It underscores the colossal impact stimulus checks, expanded unemployment payments and other benefits had on households in 2020 — even as millions lost jobs. Without them (and other safety nets, like Social Security), the poverty rate jumpedfor the first time in five years by one percentage point to 11.4%.
GPB Capital agreed to sell Prime Automotive Group, a Westwood, Mass.-based network of 30 auto dealerships and three collision repair shops, for around $880 million to Group 1 Automotive (NYSE: GPI).
Why it matters: This comes as GPB is facing criminal and civil fraud charges, brought by both federal and state authorities, over allegations that it used new investor commitments to pay dividends to investors in prior funds (i.e., a Ponzi scheme).
Nexstar, the local broadcasting giant that recently bought The Hill for $130 million, is mounting an aggressive acquisition campaign, sources tell Axios.
Details: The company is going after smaller media companies that cover the three pillars of its content strategy: sports, news, and weather.
The core Consumer Price Index (CPI), which measures the price of goods and services excluding food and energy, increased 0.1% in August on a month-over-month basis.
The big picture: The core CPI numbers released Tuesday showed a smaller gain than the .3% increase economists were expecting. It was the smallest increase since February 2021.
GovExec, the media and insights company targeted to government leaders and contractors, is acquiring Market Connections, a government research and insights company, executives tell Axios.
Why it matters: It's the company's ninth acquisition since spinning off from Atlantic Media in March 2020.
This holiday season,e-commerce sales in the U.S. will likely be 50% higher than 2019 levels. Brick and mortar retailers' sales will also be up over the same period, but by just 9%, estimates a new Deloitte report released this morning.
Why it matters: The pandemic drove businesses and consumers online — habits that are sticking around for the long term.
The S&P 500 is just below its record high. But most stocks in the index are actually down significantly, which has some concerned.
Why it matters: This implies that the gains driving the market index to record highs are not evenly distributed. But, it’s also not an unusual dynamic in the S&P’s recent history.
Massachusetts Gov. Charlie Baker (R) on Monday activated the state's National Guard to assist with school transportation.
Driving the news: Schools across the country are experiencing a shortage of bus drivers, which has worsened during the coronavirus pandemic. More than 80% of school districts reported having issued finding an adequate number of drivers.
Payload, a new digital media company focused on the business and policy of space, is hoping to bring more professional coverage to an industry that's growing very big, very fast.
Why it matters: For years, space coverage has focused on the consumer-facing spectacle of space travel instead of the business and societal implications of the industry.
Workers increasingly want their companies to think bigger than profits and speak up on social issues — and it's younger employees driving the trend.
The big picture: As the next generation enters the workforce, companies will have to devote even more time and resources to tackling issues like systemic racism, income inequality and climate change.
Plant-based meat firms aren't just going after vegans and vegetarians anymore. They're betting that closely mimicking the taste of meat will let them chip away at the meat-eating market too.
Why it matters: Diets that include meat — especially beef — have a steep climate impact. If plant-based protein gains popularity, more and more people could reduce or even halt their meat consumption.
The COVID-19 pandemic has exacerbated economic inequities that women and minority workers and business owners already faced, reinforcing gender roles and widening racial disparities.
Driving the news: Against this backdrop, a new partnership between the National Urban League and the moderate Democratic think tank Third Way wants to level the playing field for entrepreneurs — and plans to push for federal action, Axios has learned.
SoftBank announced Tuesday it will create a $3 billion private investment fund focusing on technology companies in Latin America.
Why it matters: The launch of the SoftBank Latin America Fund II comes after the Japanese investment giant started a $5 billion fund in the region two years ago that became one of Latin America's most active venture capital players.
The COVID-19 vaccination rollout led to influxes of patients returning to doctors this summer, but many surgeries are getting postponed again as the Delta variant spreads throughout unvaccinated areas.
The big picture: Medical providers are postponing orthopedic and less-severe outpatient procedures, and device companies are forecasting lower sales in the short term.
The Centers for Medicare & Medicaid Services is proposing to kill a regulation the agency finalized earlier this year under the Trump administration that would have required Medicare to pay for any medical device deemed as a "breakthrough" by the FDA.
Driving the news: After receiving public feedback, CMS determined the rule was "not in the best interest of Medicare beneficiaries because the rule may provide coverage without adequate evidence that the breakthrough device would be a reasonable and necessary treatment."
