Latinas in the U.S. are more likely to own, or plan to open, their own businesses than non-Hispanic women, despite the pandemic’s disproportionate burden, a recent poll found.
Why it matters: The survey, conducted by Telemundo, the Latino Victory Foundation and Hispanics Organized for Political Equality, suggests Latinas can be a driver of growth for the U.S. even though they have faced greater COVID-19-related setbacks.
A deal between IAC, the internet holding company led by media mogul Barry Diller, and Meredith Corp., the magazine giant, would create one of the largest food, home and lifestyle media companies in the world.
Driving the news: The Wall Street Journal reported last week that IAC is in talks to acquire Meredith in a deal valuing the magazine company at over $2.5 billion.
Group Nine Media told staff in a company-wide meeting last week that the company expects to be profitable this year, according to a source who was on the virtual town hall video call.
Why it matters: It's the first time in the company's five-year history that it has acknowledged it will be profitable.
The NewsGuild of New York has filed unfair labor practice charges against Gannett, the largest local media company in the country, according to documents reviewed by Axios.
Why it matters: Conversations with journalists across several Gannett newsrooms reveal attempts by Gannett management to undermine union efforts via alleged threats to pay increases, 401(k) matches and diversity initiatives.
It's been a bad week for the idea that boards of directors are bulwarks against C-suite malfeasance. On the other hand, it's been a good week for rubber stamp manufacturers.
Driving the news: The board of media startup Ozy Media chose not to investigate a blatant fraud perpetrated by one of its top executives against Goldman Sachs, which was in talks to invest in Ozy.
"Charter," the new digital media company centered around the future of work, is partnering with Time to distribute its content across Time's owned and operated channels, executives tell Axios.
Why it matters: The deal points to the growing priority of coverage by mainstream outlets around the future of work in light of the pandemic.
The British government placed army tanker drivers in "a state of readiness" Tuesday to help ease fuel shortages caused by a global surge in fuel prices, a lack of truck drivers to transport fuel and consumers' panic buying.
Why it matters: The Petrol Retailers Association said on Monday that two-thirds of its roughly 5,500 independent gas stations had run out of fuel, with the remainder "partly dry and running out soon."
Driving the news: New orders reached $263.5 billion, the Commerce Department said on Monday, a 1.8% increase over July. Expectations were for 0.6% growth. Demand for transportation equipment drove the growth. Meanwhile, defense aircraft and parts, as well as cars and car parts, were a drag on demand.
Just because we expect inflation to show up, doesn't mean it will. That's the message from an important new paper throwing cold water on a central tenet of monetary economics.
Why it matters: The Fed hikes interest rates when — and only when — it thinks inflation is otherwise going to be too high. That means it needs a formula to determine where it thinks inflation is going to be. But now a senior Fed economist is saying that the key ingredient in that formula "rests on extremely shaky foundations."
The All American Quarter Horse Congress, the world's largest single-breed horse show, returns to the Ohio Expo Center today.
The American quarter horse breed excels at sprinting short distances. The name comes from its ability to run a quarter of a mile faster than any other horse breed.
Why it matters: The annual Congress usually brings about 650,000 people to the Columbus area over the course of the month-long event and generates more than $400 million for the local economy, according to organizers.
What's happening: This year's event might have one of the biggest turnouts yet after COVID-19 canceled the 2020 festivities, spokesperson Taylor Staus tells Axios.
More than 5,000 horses and their riders will compete in contests such as reining, roping and cutting (isolating livestock such as cattle).
Nearly $3 million will be given away in cash and prizes, including trucks, trailers, trophy saddles, sterling silver buckles and coveted Don Bell bronze trophies.
A trade showinvolving more than 200 vendors begins Friday.
If you go: The 54th annual Congress runs through Oct. 24 at the Ohio Expo Center, 717 E. 17th Ave., on the state fairgrounds.
Parking is $25 per dayor $75 for the entire Congress, but Mondays, Tuesdays and Wednesdays are discounted to $15.
Masks are not required.The event is on state property, not in Columbus city limits.
Alissa's thought bubble: One of my first assignments as a Columbus reporter was attending a parade to celebrate the Congress' 50th anniversary. Mayor Andrew J. Ginther and other elected officials rode horses down High Street in denim jackets, cowboy boots and 10-gallon hats. It was quite the spectacle.
TikTok on Monday said that it has amassed more than 1 billion monthly active users in its short lifetime, joining an exclusive club of apps that have already reached that size.
Why it matters: TikTok has continued to grow despite enormous pressure from regulators around the globe and increased competition from copycat products built by its competitors.
Ford Motor Company’s new $11 billion manufacturing plan, the biggest component of which will sit just outside Memphis, is part of a much bigger effort to put the U.S. at the center of the electric vehicle revolution, executive chairman Bill Ford says.
The big picture: Ford’s plans — for enormous facilities in both Tennessee and Kentucky, employing a combined 11,000 workers — are ambitious manufacturing efforts designed to minimize their environmental impact.
Southern California Gas and its parent company announced Monday they've agreed to pay up to $1.8 billion in settlement claims over the 2015 Aliso Canyon natural gas storage facility blowout.
Why it matters: Some 100,000 tons of methane, ethane and toxic chemicals poured into the air for 112 days, forcing over 8,000 families to evacuate from their Los Angeles-area homes and sickening many with headaches, nausea and nosebleeds, per the L.A. Times.
Treasury Secretary Janet Yellen and Commerce Secretary Gina Raimondo are delivering a pair of speeches Tuesday lobbying the business community to back the entirety of President Biden’s Build Back Better agenda, Axios has learned.
Why it matters: While business groups have endorsed the $1.2 trillion bipartisan infrastructure package, they're opposed to the concurrent $3.5 trillion budget reconciliation package — which would raise taxes on corporations.
