Natural gas prices are surging, adding fuel to the inflationary fire.
Why it matters: Americans are already fending off rising costs in food, shelter and consumer goods — and now they'll be paying more to stay cool and keep the lights on this summer.
Oreo and Ritz have created a new combo cookie-cracker sandwich stuffed with peanut butter and cookie cream.
Driving the news: Food mashups have been on the rise and Oreo did a combo back in December with Barefoot Wine to create a limited batch of Barefoot x OREO THINS Red Blend wine.
One-click checkout company Bolt Financial on Wednesday announced layoffs, just months after raising $355 million in new venture capital funding at nearly an $11 billion valuation.
Why it matters: Tech startup jobs aren't being protected by strong balance sheets, with Bolt just the latest in a spate of recent "unicorn" cuts.
Federal Reserve officials believed that it may be necessary to shift to a more "restrictive" monetary policy to get inflation under control, according to minutes of their last policy meeting.
Driving the news: The new minutes shed light on the internal debate at a meeting that concluded May 4, where the Fed raised its short-term target interest rate by half a percentage point and Chair Jerome Powell indicated it was likely to do so again.
The federal government's budget deficit is expected to shrink this year before skyrocketing in the years ahead, the Congressional Budget Office (CBO) said Wednesday.
Why it matters: America's reprieve from climbing deficits is only temporary as coronavirus-related government spending wanes and tax revenues increase.
CBS has pulled the season finale of the fictional crime show "FBI" after Tuesday's elementary school shooting in Texas that killed 19 students and two teachers, AP reports.
Driving the news: The finale, titled “Prodigal Son," featured a plot in which the FBI looked to stop a potential school shooting.
Jack Dorsey is leaving the board of Twitter, effective today. The move had been telegraphed last fall, when he stepped down as the social media company's CEO.
The big picture: Dorsey is friendly with Elon Musk, who's in the midst of a controversial takeover of the social media giant and has discussed rolling over his 2.4% ownership stake into the deal.
The price of the world's largest digital asset is down nearly 40% so far this year, extending declines amid the recent crypto market rout. But market observers say that bitcoin is holding up better than the rest.
Why it matters: Bitcoin has been moving in tandem with other crypto as well as stocks lately, begging the question of what role it should play in investors' portfolios.
The baby formula manufacturer whose recall triggered a nationwide shortage is apologizing for the crisis but maintaining that a food-borne pathogen found at its plant has not been discovered in its products.
Driving the news: Abbott Nutrition executive Christopher Calamari plans to tell families on Wednesday that "we let you down."
MSP Recovery, a Coral Gables, Fla.-based provider of Medicare and Medicaid payment recovery services, began trading Tuesday on the Nasdaq after completing its merger with a SPAC called Lionheart Acquisition Corp. II. Then those shares promptly lost over half their value.
Why it matters: This was the second-largest SPAC deal in history, just behind Grab, worth $32.6 billion upon announcement in July 2021.
Grocery brands like Trader Joe's, Wegmans and H-E-B are some of the most reputable companies in America, transcending generational and political divides, according to this year's Axios Harris Poll 100.
Why it matters: At a time when politics divides opinion nationally on many big brands, grocery brands have been able to maintain loyalty and trust across demographics by maintaining a steady presence in their communities.
Faith in traditional automotive brands is stronger amid a wave of pandemic-related disruptions that underscored the importance of personal vehicles and the freedom to travel, new rankings from the Axios Harris Poll 100 suggest.
While Toyota (No. 7), Honda (No. 9) and Tesla (No. 12) were the three highest-rated car brands, Stellantis and General Motors both climbed sharply in the annual survey.
