The Mississippi state legislature passed an equal pay bill Wednesday — but the bill could actually make it harder for women to get paid equally.
Why it matters: Mississippi was the only state in the country without an equal pay law, or a law prohibiting employers from paying workers differently based on sex. But the Mississippi Equal Pay for Equal Work Act, which is headed for the governor's desk, explicitly allows for exceptions.
A robot-assisted way of life is becoming more and more the norm as companies have improved their technologies and the cost of those technologies have come down.
Why it matters: As employers continue to struggle to find workers to fill certain jobs, and the world's population ages creating a smaller future workforce, automation in many fields is a necessity.
The Daily Wire is planning a significant push into kids entertainment, with what it says will be "a minimum of $100 million" investment over the next three years.
Why it matters: The move, executives say, is in response to Disney's positioning on Florida's Parental Rights in Education bill, known as the "Don't Say Gay" bill. Disney has begun to speak out about the bill in response to backlash that it didn't proactively denounce it initially.
Cox Media Group, the media company that's majority-owned by affiliates of Apollo Global Management and minority-owned by Cox Enterprises, has agreed to sell a dozen TV stations to Imagicomm Communications, a broadcast affiliate of INSP, a cable network that runs movies, classic TV shows and Westerns.
Why it matters: The deal will help INSP expand further into broadcast. It's part of a broader effort by Cox Media Group to modernize its legacy media portfolio.
Positive drug tests among U.S. workers hit the highest level since 2001 last year, according to an analysis released Wednesday by Quest Diagnostics, one of the largest drug-testing laboratories in the country.
Why it matters: The increase in the rate of positive results from an all-time low between 2010 and 2012 was partially driven by an increase in positive marijuana tests, likely reflecting the fact that the number of states that have legalized it for both medical and recreational use has grown since then.
The U.S. Securities and Exchange Commission on Wednesday proposed new rules that it says would better protect investors in blank check companies known as SPACs.
Why it matters: SPACs last year raised around $160 billion via IPOs, an all-time record, using proceeds to take dozens of private companies public. Many of those deals are currently underwater.
Beewise, an Israeli developer of robotic beehives, raised $80 million in Series C funding led by Insight Partners.
Why it matters: Bees are vital to the world's food supply, but their hives are subject to "colony collapse disorder," during which most worker bees in a colony disappear. Theorized causes range from pests to pesticides. Beewise says its tech can monitor and guard against such threats.
The Biden administration isn't kidding when it says that it will sue to block mergers it views as anticompetitive, rather than negotiating settlements.
Driving the news: Cargotec and Konecranes, both listed Finnish makers of cranes and other cargo handling equipment, yesterday abandoned a $5 billion merger announced in late 2020. The move came just hours before the U.S. Justice Department was set to file suit, which would have been the seventh such action since President Biden took office.
It's really happening. We're within spitting distance of the long-awaited inversion of the yield curve — at least the portion of it that covers the 2-year and 10-year notes.
What's new: Yields on the 2-year note briefly went higher than that of the 10-year note on Tuesday.
FedEx Express will soon begin testing a new short-haul air cargo system using autonomous vertical takeoff and landing (VTOL) aircraft developed by Elroy Air, a California startup named for the boy in the "Jetsons."
Why it matters: Self-flying cargo planes could help FedEx Express move goods among warehouses more safely and efficiently amid the exponential growth of e-commerce.
Driving the news: The companies said they would begin flight testing in 2023 in Fort Worth, Texas, using Elroy's Chaparral autonomous aircraft.
Like similar aircraft, Elroy's VTOL ascends and descends like a helicopter but flies like a plane.
It can pick up a cargo pod weighing 300 to 500 pounds without human interaction, and can deliver it within a range of 300 miles.
Unlike electric VTOLs from other manufacturers, Elroy's plane is a hybrid, so it doesn't require additional infrastructure such as airports or charging stations.
What they're saying: "When you're not limited by challenging infrastructure, traffic or airports, logistics can reach more people, faster than ever before," said Kofi Asante, Elroy Air's vice president of business development and strategy.
"We look forward to working together to create a new future for how we get goods to people around the world."
The big picture: The self-flying air cargo system is the latest step by FedEx to find innovative technologies to handle rising delivery volumes.
By potentially taking trucks off the road, the hybrid aircraft also helps FedEx toward its goal of carbon-neutral operations by 2040.
Hot trends at this year's Bar & Restaurant Expo in Las Vegas: robot bartenders (who presumably keep all your secrets), booze-free cocktails and wobble-free tables.
Why it matters: The show — which was back after a two-year break for the pandemic — featured lots of automation and touchless technology, the better to avoid the spread of germs.
The Boston Red Sox on Wednesday are expected to announce that games at Fenway Park will be carbon neutral, a first for Major League Baseball, Axios has learned.
Why it matters: Sports venues like Fenway Park have large carbon footprints, particularly when attendee travel is taken into account.
The war in Ukraine will cool what was supposed to be a hot economy this year, finds a new analysis by the Economist Intelligence Unit.
Why it matters: Economic ripple effects from the war — like the surge in commodities prices and the supply chain disarray that's ensued — will spread far outside the borders of Ukraine and Russia.
The Federal Reserve's commitment to an inclusive recovery is getting tested as it begins raising rates to combat inflation.
Why it matters: Higher interest rates typically slow the economy, leading to higher unemployment rates. And while the overall jobless rate is now low by historical standards, the Black unemployment rate is double that of whites and the Hispanic rate exceeds whites by more than a point.
One of the first companies to deliver food by drone in the U.S. is expanding to Texas, where residents of Granbury, outside Dallas-Fort Worth, will be able to satisfy their cravings with a drone-dropped meal in about 5 minutes.
Why it matters: Drone delivery, still a novelty in the U.S. because of regulatory limits, could address America's growing demand for instant gratification while making roads safer and less congested.
