Writers for a D.C.-based media operation run by prominent Democratic operatives are behind a sprawling network of ostensible local media outlets churning out Democrat-aligned news content in midterm battleground states, Axios has learned.
Why it matters: Behind the patina of independent local news, these sites are pumping out content designed to put a sheen of original reporting on partisan messaging.
Elon Musk on Thursday asked Delaware Chancery Court to stay the trial over his proposed $44 billion takeover of the social media giant, adding that the deal could close on or around Oct. 28.
What to know: This is a necessary step toward moving the merger forward, but doesn't mean much until and unless Twitter files its own motion requesting a stay.
Netflix on Thursday said that it will put its upcoming sequel for its hit psychological drama “Knives Out” in theaters before making it available to its 220 million subscription streaming subscribers.
Why it matters: It marks the first-ever Netflix film to debut across all three major U.S. theatrical chains: AMC, Cinemark and Regal.
Peloton CEO Barry McCarthy just started the clock on the company's effort to remain independent.
Driving the news: The personal fitness business has about six months — roughly until April — to reverse its spiraling fortunes, McCarthy reportedly told WSJ.
Just days before a trial to determine if Elon Musk would be forced to buy Twitter was scheduled to begin, Musk sent a letter offering once again to buy Twitter for the same price he'd originally offered in April.
Why it matters: Musk has a unique tolerance for risk at his companies, but the surprise move still shocked the tech world, and it's not clear yet if it will successfully knock the trial off the docket.
Media reporter Sara Fischer and business editor Dan Primack join the podcast for a conversation on this latest twist in the saga.
Both Fischer and Primack spent months reporting on the reverberations of Musk's initial offer to buy Twitter both within Musk's inner circle and inside Twitter itself.
The United States is better positioned to win the next decade of the 21st century with technological advancements and chip factories, President Biden said Thursday after touring the IBM plant in upstate New York.
Why it matters: The Biden administration has been investing in chip factories through the CHIPS and Science Act of 2022, which provides grants for companies to build semiconductor factories and plants.
Lulu Cheng Meservey is stepping down from the board of Activision Blizzard to join the company as its executive vice president, corporate affairs and chief communications officer starting today.
Why it matters: Meservey, who left Substack as VP of communications in August, steps into a newly created role that will be critical to helping Activision shape its image to the public and to regulators.
Tiger Global is seeking to raise $6 billion for its next fund that invests in privately-held tech companies, according to an investor letter viewed by Axios. A first close is planned for January.
Why it matters: Tiger is targeting less than half of what it raised for its prior fund, reflecting a decrease in startup funding round sizes and valuations.
When the monthly jobs numbers are released, what counts as "good" can vary depending on where things stand in the economy. That's especially true at this precarious moment.
Why it matters: As we await September jobs data, set to be published Friday morning, it's worth asking what a dream jobs report would even look like — the kinds of numbers that would give the Fed comfort that inflation is coming down but not suggest masses of people will soon be out of work.
Celsius Network's financial statements show a history of executives making withdrawals in the weeks leading up to the crypto lender's decision to halt customer withdrawals and file for Chapter 11 bankruptcy protection.
Why it matters: The crypto lender has time and again insisted that it operates with "the entire community and all clients in mind," yet the numbers, according to Celsius documents, tell a different story.
Just as the prime brokerage business in crypto was starting to see some traction, the rug was pulled out from under it.
Why it matters: For the crypto market to go from a trillion to "trillions," it needs prime brokerage — the business that facilitates sophisticated trading and draws the Big Money crowd, like hedge funds.
A new initiativethat mixes federal funding with private donations is seeking to help entrepreneurs of color start businesses.
The big picture: Less than 1% of funds from the top 25 venture capital and private equity firms wind up in the hands of Latino-owned businesses. The project is one of several launched in recent months to tackle this inequality.
When Priscilla Almodovar was named CEO of Fannie Mae last week, it marked only the third time a Latina has been appointed to lead a Fortune 500 company, and Hispanic people remain the least represented demographic in boardrooms, per a new report.
Why it matters: Latinos in the U.S. are major economic drivers and the second largest racial or ethnic group, but a report by the Latino Corporate Directors Association, an organization that aims to increase the representation of Latinos in corporate America, shows they are often excluded from decision-making positions.
A fall classic is coming back to McDonald's Happy Meals starting Oct. 18 after a six-year absence: trick-or-treating Halloween pails.
Why it matters: Halloween participation is expected to return to pre-pandemic levels and reach a new spending record of $10.6 billion, up from last year's $10.1 billion, according to the National Retail Federation's annual holiday survey.
Why it matters: The city is heavily reliant on personal income tax revenues, which, in turn, hinge on Wall Street. The dismal state of the markets this year is a blow to the ecosystem built around Manhattan's banks, brokerage firms and money managers.
Many electric vehicle (EV) buyersare committing to monthly payments of $1,000 or more, per new data from automotive site Edmunds.
Why it matters: It's another sign that EVs are still too expensive for many — though broader economic factors (such as rising interest rates) are also playing a role.
As Sydney experiences its wettest year since records began in 1858, widespread heavy rains left much of eastern Australia on flood alert Thursday.
The big picture: At least 20 people have died in Australia this year because of widespread flooding driven by climate change and the La Niña conditions present for a third-straight year in the Pacific, according to climate scientists.
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