American travelers didn't let flight delays or cancellations stop them from flying over July 4 weekend.
Driving the news: New data from the Transportation Security Administration show that close to 9 million people traveled over the Fourth of July weekend, rivaling numbers from 2019.
Tesla powered its way through a second quarter marked by COVID lockdowns in China, delivering 254,695 vehicles worldwide, up about 27% from a year earlier.
Why it matters: Investors are watching closely to see how demand holds up for Tesla as the economy slows down.
Why it matters: In its investigation, the CDC ties Big Olaf Creamery of Sarasota to the outbreak and is advising consumers who have any of the brand's ice cream at home to "throw away any remaining product."
Core Scientific, among the largest publicly traded crypto mining operators in North America, sold almost all of its bitcoin holdings last month.
Why it matters: Crypto miners typically enjoy fat profit margins comparable to that of the luxury goods sector, but with bitcoin falling below $20,000 last month, some operators have started strategically selling crypto stockpiles to weather market turmoil.
The space industry could be facing a shake-up as venture capital money threatens to dry up amid fears of a looming recession.
Why it matters: Startups in the space industry tend to push innovation forward and keep established companies — like Lockheed Martin, Northrop Grumman and even SpaceX — on their toes.
The headlines from a gathering of the Group of 7 world leaders last week focused on diplomacy around the Russia-Ukraine war. But the summit could have massive consequences for the world economy.
The Biden administration advanced a novel strategy to allow Russian oil to trade with its price capped, something officials view as essential to preventing a catastrophic price surge.
Why it matters: The world economy is exceptionally fragile right now, and a new oil spike would amount to a global crisis. The G7 is seeking to prevent that from happening, while also keeping financial pressure on Russian President Vladimir Putin.
Lawmakers in the European Union last week reached a provisional agreement that extends traceability requirements to include digital assets.
Why it matters: Privacy is central in crypto. The industry has long argued as much, with more than 40 crypto firms in April protesting transaction detail disclosures in a letter to the EU.
Why it matters: This could set up a replay of Mitt Romney's 2012 run, which caused his former colleagues at Bain Capital to grab for the jumbo bottle of Tums.
YouTuber-turned-boxer Jake Paul has been busy in his new venture capital job, getting to just over $23 million in assets under management, and deploying $20 million via various fund vehicles.
Driving the news: Anti Fund, the rolling VC fund Paul started with entrepreneur Goeffrey Woo last year, is debuting a content-focused hub.
Subway unveiled 12 new sandwiches Tuesday called the "Subway Series," a change the fast-food chain says is "the most significant menu update in its nearly 60-year history."
Driving the news: The new subs are available nationwide starting Tuesday, July 5, Subway confirmed to Axios, adding there will be a giveaway of up to 1 million free sandwiches on July 12 to celebrate the launch.
Starbucks is offering a rare discount this month after raising "prices several times to address increasing inflationary pressures" over the last year.
What’s happening: Every Tuesday in July, Starbucks Rewards loyalty members get 50% off one handcrafted cold beverage with an offer in its app at participating locations nationwide.
Bonds have sold off a ton this year — just look at Apple. It’s one of the most creditworthy U.S. companies — sitting on loads of cash — and you can pick up its bonds in the secondary market for a mere 70 cents on the dollar, down from around 100 last fall. Seems worrisome!
Well, the New York Fed has constructed a new index to evaluate just how distressed — and potentially dysfunctional — the corporate bond market is. The good news: It's actually not that bad right now.
Wholesale gasoline futures are falling — which could spell (a little) relief at the pump for Americans.
The big picture: Movement in retail gas prices tends to follow that of the unfinished wholesale gas, known as "Reformulated Blendstock for Oxygenate Blending," or RBOB.
A pandemic-era record number of people took to the skies over the Fourth of July weekend in the U.S. despite predictions of a hellish few days for air travel.
Driving the news: Nearly 2.5 million people passed through U.S. airport security checkpoints Friday, the most since February 2020.
Economists are racing to study the impact of the Supreme Court's decision overturning the right to abortion. They're examining the fallout on women's lives across a range of factors from health to finances.
Why it matters: There's a raft of research on the impact of the 1973 Roe v. Wade decision, but the work didn't get seriously underway until the late 1980s. Now, because of advances in technology and research methods — and because the profession has evolved to study "women's issues" — researchers will move more quickly.
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