The big picture:McDonald’s toys are the latest hot item in the reselling industry. Nostalgia and exclusivity sell big on online marketplaces whether it’s kids meal toys, Disney collectibles or just about anything with limited supplies.
Wall Street’s sharp rebound hasn’t quite carried over into digital assets still languishing in the cold of an intensifying crypto winter. But the market volatility obscures a quiet blockchain revolution taking place under the surface.
Why it matters: Bitcoin, ether and non-fungible tokens (NFTs) often dominate public conversations about crypto, and the public’s imagination. Amid the turbulence, however, it might be more useful to think of those instruments as an extension of the technology powering them, with practical applications beyond digital tokens.
This year's Cajun-style turkeys at Popeyes are being served with a price hike.
Why it matters: Blame inflation and the bird-flu outbreak. The latest USDA data shows the price per pound of an eight to 16-pound turkey is up 73% over last October, rising from $1.15 to $1.99 a pound.
When Robert Peterson's mother Yong Ae Yue died in the Atlanta spa shootings, he had to tell his brother, "Mom's not coming back." It was clear even then, though, that the murder of their mother — an Asian woman "targeted for who she was" — would serve as the linchpin for something much bigger.
Driving the news: The Atlanta spa shootings led to protests against anti-Asian hate across the U.S., but the momentum has faded, Peterson told Axios. A year and a half after a white gunman shot and killed eight people, six of them Asian women, a new PBS documentary aims to immortalize their legacy and the movement against anti-Asian hate.
President Biden announced on Wednesday that he is authorizing the release of more oil from the Strategic Petroleum Reserve in December in an effort to bring down gas prices.
Why it matters: The move comes at the close of a campaign season in which high gas prices — while far lower than their June peak — put Dems in political jeopardy.
At the risk of oversimplifying, there are two ways to fight inflation. One involves the central bank raising interest rates to throttle the money supply. In another, elected officials craft policies that temper demand and increase supply in the economy. Each has advantages and disadvantages.
Driving the news: Right now, the United States is relying almost exclusively on the first. It's putting pressure on the economy and financial system that would be less severe with a more balanced mix of inflation-fighting tools.
Oil giant Shell has progressed to the second round of bidding for Danish biogas producer Nature Energy, which is being sold by a private equity consortium for around $2 billion, per Reuters.
Why it matters: Fossil fuel companies plan to buy their way into the energy transition, as renewable natural gas is generally compatible with existing infrastructure.
JPMorgan Chase on Wednesday will begin offering certain customers access to directly deposited money up to two days before the funds officially hit their accounts.
Driving the news: Chase said it will offer the early-access funds to its 1.4 million Secure Banking customers, whose accounts require no minimum opening deposit and don't charge overdraft fees.
Why it matters: The merger, which comes on the heels of Spirit's failed merger with budget airline Frontier, will create the country's fifth-largest airline.
Any moment a consumer looks at a screen is now a moment that can be filled with advertising.
Why it matters: Smartphones, e-commerce platforms and connected devices, including smart TVs in hotel rooms and tablets in cars and at airports, have all made it possible for any business — from networking apps to grocers and ride-hailing companies — to target customers with digital ad messages.
Why it matters: The traditional holiday shopping season is dead with retailers no longer waiting until late November to roll out deals, a change sparked by the pandemic.
Economists and market indicators seem increasingly certain that the U.S. is either already in a cyclical downturn, or soon will be.
Driving the news: Perhaps the most-watched market indicator for predicting recessions — a so-called inversion of the yield curve between 3-month and 10-year Treasuries — is now near at hand.
Remote work likely contributed to a mini-baby boom in 2021 among women in the U.S. — a reversal of a years-long decline in the birth rate, according to a working paper published by three economists this week.
Why it matters: It's surprising. Economists predicted a crash in birth rates at the outset of the pandemic. The quick economic recovery and the rise of remote work may have changed the trajectory, the authors say.
McDonald’s and Krispy Kreme are teaming up to test a sweet addition to the fast-food giant’s menu — doughnuts.
Driving the news: The chains jointly announced a small-scale test will start Oct. 26 for nine McDonald’s in Louisville, Kentucky, which will get daily doughnut deliveries. The test could "inform future menu decisions."
