Dealmakers are winning the long game on U.S. antitrust law, despite the current squeeze.
Driving the news: Sens. Amy Klobuchar (D-Minn.) and Tom Cotton (R-Ark.) — not normally a pair of legislative BFFs — recently introduced a bill that would make it much more difficult for a small group of Big Tech companies to make acquisitions.
Wynn Resorts (Nasdaq: WYNN) and Austerlitz Acquisition Corp. I (NYSE: AUS), a SPAC formed by Bill Foley, terminated their $3.2 billion merger agreement for Wynn's online betting unit. No explanation was given.
Why it matters: This is the latest reminder that SPAC merger announcements don't always result in SPAC mergers, coming just days after PE-backed e-commerce platform BBQGuys called off its $963 million deal with Velocity Acquisition Corp. (Nasdaq: VELO).
By many metrics, the labor market keeps getting tighter.
Driving the news: One of those measures is a ratio showing that for every job opening in September, there was way less than one person actually seeking a job.
Substack on Monday said there are more than1 million paid subscriptions to publications on its platform, up from about 250,000 last December.
Why it matters: Substack's growth underscores the willingness of audiences to pay for content from their favorite writers directly — a trend that's been expedited by the pandemic.
It's not quite a time machine, but the TWA Hotel, adjacent to Terminal 5 at New York's JFK Airport, does let travelers transport themselves back to a time when air travel was fun and glamorous.
Why it matters: Most airport hotels only have their prime location as a selling point, but the TWA Hotel, where I recently stayed, has a lot more to offer.
The pandemic triggered a teacher exodus, and the shortage of instructors is still squeezing America's schools.
The big picture: Demand for teachers is drastically outpacing supply. Many teachers are retiring or quitting the profession due to pandemic-era stress, and universities aren't minting new ones fast enough.
A 9-year-old boy on Sunday became the 10th person to die from injuries sustained during a crowd surge at the Astroworld music festival in Houston.
The big picture: Ezra Blount died in the hospital after being placed in a medically induced coma with serious head injuries sustained in the Nov. 5 crush as rapper Travis Scott performed, per a statement from family attorney Ben Crump.
Treasury Secretary Janet Yellen said in a CBS interview broadcast Sunday that COVID-19 "has been calling the shots for the economy and for inflation" in the U.S. and future stability depends on the outcome of the pandemic.
Why it matters: The rate of price growth has remained consistently strong in recent months, per Axios' Kate Marino. The Consumer Price Index released last Wednesday showed inflation has reached a 30-year-high, with overall prices rising 6.2% from one year ago.
The White House on Sunday named former New Orleans Mayor Mitch Landrieu as the senior adviser responsible for coordinating the implementation of the $1.2 trillion bipartisan infrastructure bill.
Why it matters: President Biden is due to sign the bill on Monday, when he plans to tout how the core piece of his signature domestic agenda will "deliver to American families."
