Axios

Medina Spirit on Monday was stripped of his victory at last year's Kentucky Derby after a lengthy investigation into the horse's failed drug test.

Why it matters: The racing commission's ruling concludes a yearlong dispute over the traces of betamethasone, a steroid used to reduce pain and swelling, found in Medina Spirit's system post-race. Medina Spirit's trainer Bob Baffert, who faces a $7,500 fine and being suspended from facilities for 90 days, will appeal the ruling.

McDonald's didn't pull punches after activist investor Carl Icahn launched a proxy fight over the weekend to pressure the fast-food giant over the treatment of pigs used in its pork products.

Why it matters: Icahn, who has become known for aggressive activist campaigns targeting companies he views as inefficient, is asking McDonald's to prioritize an issue other than profit.

Pedestrian deaths from cars soared to record levels during the pandemic, according to data from the Governors Highway Safety Association.

Why it matters: An uptick in dangerous driving behavior during the pandemic contributed to the dramatic increase in pedestrian deaths in 2020, despite less drivers being on the road.

The IRS said Monday it will let taxpayers verify their identity through live, virtual interviews with agents — allowing people to avoid providing their biometric data to the agency.

Why it matters: The IRS' initial decision to use facial recognition software sparked significant backlash from critics who said that without proper guardrails, information collected for a seemingly benign purpose could easily be reused in other ways.

Lithium-ion batteries in electric vehicles have complicated firefighting on a cargo ship that was carrying 4,000 vehicles — including Porsches, Audis and Bentleys — across the Atlantic, Reuters reports.

Driving the news: On Monday, João Mendes Cabeças, captain of the nearest port in the island of Faial, told Lusa news agency "the fire has subsided in recent hours." He had told Reuters over the weekend the batteries were "keeping the fire alive", and that specialist equipment was required to extinguish it.

Donald Trump’s social media app Truth Social launched in Apple’s App Store Monday at midnight, but still wasn’t fully available for use to all accounts.

State of play: Once a user was asked to create an account with the app and enter a username and personal information, such as date of birth, the app led users to another waitlist, where they still couldn’t join the actual network.

Facebook parent company Meta invested $40 million earlier this year in Japanese mobile gaming company Playco, Axios has learned.

Why it matters: Facebook's user base shrunk (a tiny bit) for the first time ever last quarter, but Meta's apps remain some of the largest social networks on the internet. That's meaningful to a company like Playco, which wants to be on as many popular platforms as possible.

Executives are facing a big surprise as they call employees back. Companies and workers are living in two different realities when it comes to returning to the office.

What's happening: Much-delayed return-to-work dates are back as America moves past Omicron.

2022 is shaping up to be one of the hardest years ever to run a company — even harder than 2020, when the pandemic first hit, corporate leaders and analysts tell us.

Why it matters: Uncertainty, CEOs' dreaded nemesis, abounds. Supply chain snarls, lingering COVID disruptions, labor shortages, inflation, rising pay and soaring demands for new benefits and work flexibility are driving up costs and complexity.