Parler announced Thursday it reached a mutual agreement with Ye, formerly known as Kanye West, to terminate the sale of the social media app.
Driving the news: The announcement from Parler, which has become a haven for conservatives, came hours after Ye spewed a torrent of antisemitic remarks during an interview with conspiracy theorist Alex Jones.
Lawmakers gathered on Thursday to discuss the events that led to crypto exchange FTX collapse, amid renewed calls from within their ranks — and from the public — for industry oversight.
Why it matters: The spectacular flameout of FTX — and the contagion that preceded and followed it — could finally provide momentum for U.S. regulation of the industry.
The Supreme Court on Thursday declined to lift an injunction temporarily blocking President Biden's student debt relief program and agreed to hear the case in February.
Why it matters: The prolonged uncertainty of the program's future has left millions of borrowers in financial limbo as litigation from several challengers plays out. Biden has said he believes the program is legal.
Hurricane Ian, which struck Florida and South Carolina earlier in September as a high-end Category 4 storm, caused the second-largest insured loss on record after Hurricane Katrina in 2005, according to a new report published by reinsurer Swiss Re on Thursday.
Why it matters: Based on preliminary estimates, Hurricane Ian caused between $50 and $65 billion of insured losses, which also makes it this year's costliest natural catastrophe
Austan Goolsbee, who served as the chair of former President Obama's Council of Economic Advisors, will be the next president of the Federal Reserve Bank of Chicago, the bank said on Thursday.
Why it matters: Goolsbee is set to become a member of the Federal Open Market Committee that makes crucial decisions about monetary policy and interest rates, as the Fed battles decades-high inflation.
The Recount, a video news startup founded in 2018, told employees it plans to suspend operations next Friday, sources told Axios.
Why it matters: The company, which raised over $34 million since 2020, struggled to find a profitable business model. Like most media companies, its prospects grew worse amid the economic downturn.
Bath & Body Works’ popular Candle Day sale is back but with a rare 30-cent price drop despite inflation.
The big picture: Days after record Cyber Monday and Black Friday spending, the made-up holiday for candles is Thursday, Dec. 1, for loyalty members and retailers including Bath & Body are firing up discounts.
After a delay, Treasury Secretary Janet Yellen's signature will very soon appear on the U.S. dollar.
Driving the news: During an appearance on "The Late Show with Stephen Colbert" on Wednesday night, Yellen said next week she plans to visit a plant where the first sheets of currency bearing her name have been printed — following plenty of time practicing her signature.
Crypto markets have been so drunk on wealth that those involved forgot how to consider risk realistically. But one bitcoin-minded philosophy professor is helping students think about how money should fit into their lives.
Why it matters: Humans have known as long as money has been around that it's dangerous when cash becomes an end in itself, and 2022 presents very strong evidence that those lessons for sure haven't sunk in with the crypto crowd.
Marketing departments get the big budgets because they can take hard data to the C-suite to prove their value. Communication teams can do this too, and their return is likely higher.
Why it matters: As finances tighten, communicators have a leg up because earned, traditional media coverage is still one of the most cost-effective ways to reach the masses — but outdated metrics are preventing communicators from showing it.
Luxury fashion designer Balenciaga is under fire for inappropriate ad campaigns featuring children.
Why it matters: The brand's disturbing editorial decisions paired with its messy, delayed and inadequate response could cause long-term damage to its reputation.
Communicators aren't known for being numbers people — but maybe they should be.
Why it matters: Data can better prescribe when to weigh in on thorny public debates, where to go to reach particular audiences and how to get the message to them.
Celsius Network's bankruptcy proceeding took an interesting turn this week.
Driving the news: Terms of Use, a topic that's becoming increasingly popular in crypto bankruptcy cases, could determine who ends up with $18 million in stablecoins.
The average cost for a gallon of gas in the U.S. has dropped below the price it was before Russia invaded Ukraine earlier this year, according to AAA.
Why it matters: It is the first time since February that gas prices cost less than $3.50 per gallon, a significant decrease from record prices in the summer.
America's worker shortage has puzzled employers, consumers and economists since the pandemic began to ease. When Axios asked U.S. Labor Secretary Marty Walsh last fall, he admitted to being stumped.
Driving the news: Fed chair Jay Powell yesterday provided some answers, in a speech that garnered bigger headlines for signaling that the pace of interest rate hikes will slow.
A gauge of inflation that top economic policymakers monitor showed price gains slowed in October, the Commerce Department said on Thursday.
Why it matters: Inflation remains stubbornly high, but the data is the latest to offer some hope that decades-high inflation is showing signs of slowing.
A railroad worker strike likely won't happen now that Congress has stepped in. But a key sticking point in the standoff — whether the more than 100,000 freight rail workers get any paid sick leave — is still an open question.
The big picture: The rail workers' battle is emblematic of some of the most critical worker issues of the post-pandemic era — revolving not around money, per se, but worker leverage, quality of life and paid sick leave.
Republican lawmakers and some Tech CEOs are rallying behind Elon Musk's public attacks on Apple, alleging its control over its App Store amounts to an abuse of power.
Why it matters: By wading into the Apple debate, Musk has reignited concerns about whether Apple's App Store policies — which include a 30% commission on most charges for apps or services within apps — put competitors at a disadvantage.
Elon Musk showcased his company Neuralink's progress on brain-implant technology during an event livestreamed from the firm's headquarters in Fremont, California, on Wednesday night.
Driving the news: The Neuralink co-founder emphasized that the event's goal was to recruit talent, but Musk highlighted a video of a monkey called Sake that had a brain implant conducting an exercise he described as "telepathic typing."
The Biden administration's request to halt a Texas judge's ruling blocking its student debt relief program was denied by a federal appeals court on Wednesday night.
The big picture: The Biden administration has indicated it will appeal the decision of the 5th U.S. Circuit Court of Appeals in New Orleans to the Supreme Court, per Bloomberg.
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The custom of emptying wallets for a lavish dinner on a first date may be on its way out.
The big picture: The collision of a number of trends — including skyrocketing prices, the pandemic's popularization of outdoor hangouts, and the rise of online dating — is starting to kill the traditional dinner date.
Amazon's fight against warehouse workers in New York who voted to unionize is heating up.
What's happening: A court last week ordered the company to tell workers at JFK8 in Staten Island that they can't be fired for unionizing, but Amazon has "made of mockery" of the ruling, the National Labor Relations Board said in a scathing motion filed in court on Wednesday.
Elon Musk took to Twitter on Wednesday in an attempt to lower the heat in a fight he picked with Apple on Monday.
Driving the news: "We resolved the misunderstanding about Twitter potentially being removed from the [Apple] App Store," Musk claimed in a tweet, after thanking Apple CEO Tim Cook for taking him around Apple headquarters Wednesday. "Tim was clear that Apple never considered doing so."
Sam Bankman-Fried said he didn't commit fraud and didn't try to buy off politicians, fielding live questions at a packed New York City conference less than a month after his company rapidly imploded and filed for bankruptcy.
Why it matters: Bankman-Fried, the founder and former CEO of crypto exchange FTX, is under scrutiny from regulators and politicians over the total lack of oversight at the company, which saw more than $30 billion of value wiped out in a matter of weeks. Customers have seen millions of dollars vanish.
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