We're filling our lives with so much junk that the U.S. now has more self-storage facilities than McDonald's, Wendy's, Burger Kings, Starbucks and Walmarts combined. That's around50,000 storage complexes.
Why it matters: We're overstuffed. And all that stuff often brings a lot more stress than joy.
Lobster prices have soared so much that restaurants are either giving their customers sticker shock, or taking it off the menu entirely.
Why it matters: The lobster price shock isn't just a supply problem or just a demand problem. It reflects both — and is a microcosm of the U.S. economy.
Sony Pictures is severing business ties with Russia, "in support of the humanitarian efforts currently underway in Ukraine,” according to a staff memo from CEO Tony Vinciquerra.
Why it matters: The news comes a day after Disney announced it would "pause" all business in the country, as well.
Why it matters: The new wave of sanctions is part of a larger strategy aimed at crippling the Russian economy and leaders who have enabled Russia's unprovoked attacks.
Russia is threatening to seize the businesses of Western companies that have withdrawn from the country after it invaded Ukraine, escalating the economic conflict running parallel to the war itself.
Why it matters: More than 300 companies have announced they’re exiting or pausing business in Russia, according to a list compiled by Yale professor Jeffrey Sonnenfeld and the Yale Chief Executive Leadership Institute.
Giant global businesses in every sector are abandoning Russia following the invasion of Ukraine.
Why it matters: In addition to condemning the invasion, the companies see an impossible environment — from worker safety to the logistics of getting supplies, financial and sales disruption and the complexity of complying with sanctions.
Disney CEO Bob Chapek on Friday said the company would pause all political donations in the state of Florida, following a week of blowback surrounding the company’s initial decision to not speak out about Florida's so-called "Don't Say Gay" bill, which is close to becoming a law.
Why it matters: The handling of the issue frustrated employees at Disney. Staff at Disney-owned Pixar sent a letter to leadership Wednesday expressing their disappointment, saying "we hoped that our company would show up for us. But it didn't."
TPG Rise invested in Monarch Bioenergy, a St. Louis-based renewable natural gas producer formed in 2018 by pork processor Smithfield Foods.
Why it matters: This is an effort to combat (and monetize) the immense amount of carbon emissions produced by animal farming, and also to cut down on the use of inorganic fertilizers.
Podcast startup Kaleidoscope has raised $3.5 million in convertible notes for seed funding led by North Base Media, the co-founders tell Axios.
Why it matters: As podcasts grow in popularity, creators and investors see potential in building out more genres and creating new intellectual property.
The race to 5G is forcing the world's biggest telecom giants to consolidate.
Why it matters: 5G is all about scale. When companies combine, they have more resources and capital to bid on spectrum and build out tools to get ahead.
Discovery shareholders on Friday voted to approve a merger with WarnerMedia, the last major hurdle the companies had to cross before officially combining in mid-April.
Why it matters: The merger will give both media giants the scale needed to better compete in streaming.
TikTok's national security clash with the U.S. government may be nearing its conclusion, without the sort of shareholder overhaul that was previously proposed.
Driving the news: The social media company is in advanced talks with the Committee on Foreign Investment in the United States (CFIUS) to store all of its U.S. user information with Oracle, without Chinese owner ByteDance being able to access it, as first reported by Reuters and confirmed by Axios.
Coal, the dirtiest of fossil fuels, is staging something of a comeback. Prices for the Australian benchmark are up about 60% since mid-February, as European power plants scour the globe for alternatives to pricey natural gas.
The big picture: Coal-fired electricity generation had been on the decline for a decade, to about 13% of Europe's mix in 2020, as power providers began phasing out the most carbon-heavy fuels. But Europe’s energy crisis, which kicked into high gear last year, is breathing new life into the coal market.
In a new survey, 9.3% of respondents — roughly the equivalent of 19 million Americans — said they are planning to move because they can work remotely. Since 2020, 2.4% had already moved because of remote work.
Why it matters: The explosion of remote work pushed many professionals out of expensive cities into more remote suburbs and other areas — driving up home prices. This is a big reason no one can find any houses to buy in the U.S. right now.
With Russia's economy collapsing,its stock market cryogenically frozen and its bonds near default, global investors are set to endure major losses.
Why it matters: For decades, Russian investments were a cornerstone of so-called "emerging market" investing, the financial world's marketing rubric that helped encourage the free-flowing global investments that helped define the post-Cold War era.
More than 60 companies, including some of the largest firms in tech and finance, are calling on Texas Gov. Greg Abbott to abandon an executive order that equates gender-affirming healthcare for transgender children with child abuse.
Driving the news: Apple, Google, Meta, Johnson & Johnson, Ikea, PayPal, Capital One, Electronic Arts and many more firms signed an ad running in the Friday edition of the Dallas Morning News calling the new order discriminatory.
