Driving the news: The embattled right-wing talk show host and hawker of wellness supplements has withdrawn the bankruptcy petitions of three companies linked to his Infowars empire.
Driving the news: After years of booming sales and prices, the market is "normalizing," Freddie Mac chief economist Sam Khater said Thursday in a statement.
The financial outlook for Social Security and Medicare improved last year, thanks largely to a rapid economic recovery that drove tax revenues higher.
Driving the news: The trustees of the programs released their annual report on their financial stability Thursday. They projected that it will take longer for the trust funds supporting the programs to run out of money than previously estimated.
The Department of Health and Human Services said Thursday it will investigate whether the Food and Drug Administration appropriately handled a baby formula recall at an Abbott Nutrition facility in Sturgis, Michigan.
Why it matters: The ongoing baby formula shortage began after a massive baby formula recall at the Abbott facility exacerbated preexisting pandemic supply chain issues.
Amazon has stopped selling its Kindle devices to retailers in China and will close its digital bookstore in the country next year.
Why it matters: This is Amazon’s latest retreat from China following the closure of its third-party marketplace in the country 3 years ago — and it’s also the latest example of how much Big Tech has struggled against extreme competition with Chinese companies and amid growing government restrictions of content and data collection.
CNN's new boss Chris Licht says that beginning today, CNN has added a "Breaking News” guideline to its stylebook, to address overuse of the breaking news banner across its network and cable news writ-large.
Why it matters: Licht and Warner Bros. Discovery CEO David Zaslav have made it a priority to dial back on partisan programming at CNN in favor of traditional journalism.
Texas legislators last summer passed a bill called S.B. 19 that prevents state government entities from entering into contracts "with companies that discriminate against firearm and ammunition industries."
Why it matters: This could cause heartburn for some private equity and venture capital investors, as certain limited partners demand "sin clauses" that include weapons investment restrictions.
RedBall Acquisition Corp., a SPAC formed by pro sports executive Billy Beane and private equity investor Gerry Cardinale, terminated its planned purchase of ticket marketplace SeatGeek, which would have been valued at $1.35 billion.
Why it matters: This is the latest in a swelling spate of collapsed SPAC mergers, including Forbes earlier this week. And it comes just one month after SeatGeek reported record revenue and said that the deal was set to close by the end of June.
Sheryl Sandberg's departure from Facebook marks the end of an era for a certain kind of corporate feminism, which the 52-year-old didn't invent but absolutely launched into the stratosphere with her 2013 book "Lean In."
Why it matters: This is a moment worth marking. Sandberg started a conversation about women in the workplace more than a decade ago that's ongoing and felt impactful — many more employers offer the kind of benefits, like paid leave, she pushed — yet in so many ways the situation for women in the workplace hasn't much changed.
American factories are still in expansion mode, as clients continue to backfill giant holes in their inventories left by COVID-related supply chain snarls.
Why it matters: A manufacturing sector in strong health means a recession is not imminent, despite the Fed's efforts to slow the economy with rate hikes this year.
The Texas bankruptcy of entities linked to conspiracy theorist Alex Jones' Infowars empire could set a new precedent for how companies can — or can't — wield the bankruptcy court against their litigation foes.
Context: It’s not uncommon for companies to file for bankruptcy as a way to consolidate and settle onerous litigation damages (think Purdue Pharma’s opioid liabilities, and the wildfire-related claims against PG&E).
Sheryl Sandberg grew Meta's revenue from $272 million in 2008 to nearly $118 billion in 2021. That's over 43,000% higher.
Why it matters: Depending on who you ask, the corporate growth story she's responsible for is one of the most impressive in history — or one of the most reckless.
Why it matters: The move making U.S.-Cuba travel easier is part of a wider Biden administration drive to bolster support for the Cuban people, one year after the largest anti-government protests on the island in decades occurred, per Axios' Shawna Chen.
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