Wall Street on Friday suffered its worst day so far this month, as the S&P 500 plunged by over 2%.
Driving the news: In recent days , Federal Reserve officials — including chair Jerome Powell — have made it clear that nothing is off the table when it comes to corralling surging inflation. That intensified a sell-off in both stocks and bonds that drove up interest rates.
Latinos in the U.S. and Latin Americans are more likely than others to reconsider the workplace after the pandemic, Marina writes.
By the numbers: Two-thirds of Latinos polled in Microsoft’s 2022 Work Trend Index say they are now much more conscious about prioritizing health over their work when it comes to going to the office, and 60% say they are considering changing jobs in response.
Launch House, which runs in-person and virtual programs for startup founders, is debuting the first product of its media ambitions: an email newsletter, dubbed Homescreen, geared towards entrepreneurs.
Why it matters: Producing high-quality content remains a popular and powerful marketing tactic in the startup world, with everyone from VCs like Andreessen Horowitz to vendors like Stripe partaking.
Crusoe Energy Systems, a Denver-based flared gas bitcoin miner, raised $350 million in Series C venture capital funding led by G2VP. It also secured $155 million in new credit facilities.
Why it matters: Crusoe's tech, which uses waste natural gas to power mining activities, could cut conflicts between crypto and climate. The company soon plans to expand its commercial efforts into cloud computing, which also has giant energy requirements.
J.D. Vance has spoken out strongly against H-1B visas as a Senate candidate in Ohio, but his history as a venture capitalist tells a different story.
Around three dozen companies in which Vance-affiliated funds invested, and in which he still has economic interests, have applied for the visas, which often are used by American tech companies to hire highly skilled foreign workers.
Why it matters: Vance and former President Trump are slated to appear together tomorrow night at a rally in Ohio, where H-1B visas are often used as rhetorical punching bags by candidates seeking to appeal to blue-collar workers.
The monthly mortgagepayment on the median-priced home is up 38% from last year, according to a Redfin analysis, released on Thursday, of mortgage rates and MLS data on asking prices.
State of play: The housing boom is entering a different phase now. Where once, low mortgage rates helped offset surging home prices, now, fast-rising rates are putting homes further out of reach for buyers.
The labor force participation rate — the share of the adult population either working or looking for work — has not quite recovered from pre-pandemic levels. A new paper sheds light on one factor behind the shortfall: substance abuse.
Why it matters: There's an acute labor shortage in the U.S., and this is one reason — alongside reduced immigration, child care issues and ongoing concerns about COVID-19.
The shuttering of CNN+ three weeks after the subscription service launched will be remembered as one of the most chaotic moments of CNN's 40-year history.
Why it matters: The tea leaves were there for people who had been following the lead up to the merger of CNN's parent WarnerMedia and Discovery on April 8.
Netflix's market swan dive and CNN+'s sudden death underscore a fundamental shift in the streaming economy toward ad-supported services.
Why it matters: For years Wall Street has rewarded companies like Netflix and rival Disney for adding paid users, then punished them when they hit a ceiling. Every streaming service is now looking toward ads as a way off that rollercoaster.
Several readers — including Thrive CEO Arianna Huffington and Wharton School professor Rachel Pacheco — told us they hate our phrase "killers with humility." We use it to describe ideal Axios employees: They have killer talent, but put the cause above their own ambition.
Why it matters: Well, we have the humility to listen … and we think they're right!
Ukrainian President Volodymyr Zelensky said Thursday that Russia "must pay for violating global stability," calling for "a special tax for the war."
The big picture: Russia's unprovoked invasion has killed unknown thousands of soldiers and civilians since it launched on Feb. 24. More than 7.7 million Ukrainians have been internally displaced, according to the UN.
