The antisemitic film that made headlines after Brooklyn Nets guard Kyrie Irving tweeted its Amazon link will not be taken down from the tech giant's platform, CEO Andy Jassy said this week.
Why it matters: The company has faced pressure to terminate sales of the film since Irving's tweet, which was posted around the same time as rapper Ye's antisemitic remarks and preceded former President Trump's dinner with white nationalist Nick Fuentes.
Dollar General's store-on-every-corner strategy is accelerating as consumers seek relief from inflation.
Why it matters: Price increases are prompting shoppers to trade down to less expensive products or stay closer to home — and that plays right into the hands of discount retailers like the nation's largest dollar-store chain.
Police have arrested two individuals in connection with the fatal shooting of Migos rapper Takeoff, Houston officials said Friday.
The big picture: Takeoff, whose real name is Kirshnik Khari Ball, was killed on Nov. 1 outside of a bowling alley in downtown Houston, Axios reports. He was 28.
Tickets for Taylor Swift's highly anticipated "The Eras Tour" are going for as much as $30,000 on the resale market with no signs of demand slowing down.
Driving the news: Buyers and sellers have flocked to websites such as StubHub and Vivid Seats in the two weeks since Ticketmaster canceled its public sale for Swift's 2023 stadium tour.
Why it matters: The National Retail Federation's annual holiday survey showed gift cards are expected to be a favorite gift once again with total spending projected to reach $28.6 billion, compared with $28.1 billion in 2021.
There is no denying it: The labor market is fantastic for workers. That continues to benefit America's workers, but it makes the Federal Reserve's campaign to bring down inflation that much harder.
Why it matters: The longer the labor market fails to cooperate with the Fed's engineered slowdown, the higher it will eventually need to push interest rates — and the more likely the central bank is to overdo things and cause an abrupt downturn.
More than 1,000 members of the New York Times union, which includes hundreds of newsroom staffers, plan to walk out on the job if the company's management doesn't agree to the terms of a new contract by Dec. 8, the union announced Friday.
Why it matters: The two parties have been at odds for more than a year and a half over a slew of issues, most notably wage increases. Those tensions have hit a boiling point heading into the holiday season.
President Biden on Friday signed into law legislation to force a rail labor agreement, blocking workers from striking ahead of the busy holiday season.
Why it matters: Some railroad workers have argued the deal doesn't adequately address concerns over workplace conditions, most notably the lack of paid sick leave.
When private equity billionaire Robert Smith settled tax fraud charges in late 2020, he agreed to cooperate with prosecutors on related cases. But he won't ever need to testify in court, because two former Smith associates have died on the eves of their respective trials.
Driving the news: Carlos Kepke, an 81 year-old Houston lawyer accused of helping Smith avoid taxes, killed himself on Sunday. His trial had been scheduled to begin Monday, with Smith among the scheduled witnesses.
Anduril, a defense technology startup set up by Oculus founder Palmer Luckey, has raised $1.48 billion in Series E funding led by Valor Equity Partners at an $8.48 billion valuation.
The jobs market stayed strong last month: Employers added 263,000 jobs, while the unemployment rate held at 3.7%, near the lowest level in a half-century, the Labor Department said on Friday.
Why it matters: The figures are the latest signal of a roaring labor market that continues to defy fears of a recession.
A key economic indicator is flashing red: An index measuring factory activity shows a contraction for the first time since 2020, according to the Institute for Supply Management's index of manufacturing activity released Thursday.
The measure, which pulls from a survey of manufacturers about business conditions, dipped below the 50 threshold that separates economic expansion from contraction — driven by a decline in orders for new stuff.
Why it matters: A contraction could be a signal of an economic slowdown to come. (And, as we say often, this is basically what the Fed wants.) Analysts on Thursday trotted out the R-word:
The level is "consistent with a stagnation in broader economic growth," Paul Ashworth, chief North America economist at Capital Economics, said in a note Thursday. Further declines could be coming, he said, "leaving it consistent with a recession."
"Manufacturing's contraction is likely a harbinger of a recession that we expect to begin in Q2 2023," Oxford Economics said in a note about the data.
Yes, but: Sounds scary, but keep in mind that at this point most recession forecasts are predicting a relatively mild downturn. Also, it's just one data point.
Americans are spending most of what they're earning these days. The savings rate in October was the lowest since 2005 — and the second-lowest on record, according to data from the Commerce Department released Thursday.
Why it matters: Thanks to higher prices and a return to "normal" life that has folks traveling and going out again, Americans are spending more and saving less.
Elon Musk announced Thursday that Tesla is rolling out its long-awaited all-electric Semi trucks.
The big picture: The first shipment of the Tesla Semi, which was unveiled five years ago, was delivered to PepsiCo's Modesto, California, factory Wednesday, Tesla Semi program manager Dan Priestley said during a livestreamed event at the electric vehicle company's Nevada plant.
The attorneys general of Illinois, California and the District of Columbia filed a new request today in federal court to immediately stop grocery chain Albertsons from paying out a $4 billion special dividend to its shareholders.
Why it matters: This is the AGs second attempt at stopping the dividend. The same court denied a request for a temporary restraining order in early November.
The Department of Justice's U.S. Trustee in the FTX bankruptcy case has moved for the court to appoint an independent examiner.
Why it matters: The examiner would likely produce a large and independent report from a perspective the trustee describes as a "true neutral." This is prudent as a means to unpack "what is likely the fastest big corporate failure in American history," Andrew R. Vara, the U.S. Trustee, wrote in his motion to Delaware's U.S. bankruptcy court.
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