Beijing's stance on COVID is swinging from one extreme to the other.
The latest: Some cities are now letting people go back to work even if they have mild cases — a sharp contrast from the restrictive (and at times life-threatening) measures that had been in place over the past three years.
It has been an ominous year, with recession warnings clanging from every direction. Readers of the Axios Macro newsletter, however, are not nearly so gloomy.
What's happening: We invited readers of our economics newsletter to submit their expectations for what will happen with unemployment, inflation, and other key economic gauges in 2023. Nearly 800 participated.
People of color face a harder time finding and financing a home. Understanding how this came to be requires looking back at decades of unequal access to mortgages and a history of racial inequalities.
The Phoenix Suns are about to get a new owner, in what could be one of the most consequential team sales in NBA history.
Driving the news: Mat and Justin Ishbia yesterday announced that they've agreed to buy a majority sake in the Suns, and the WNBA's Phoenix Mercury, at a $4 billion valuation.
This was the year rising prices changed everything — from moods to markets.
Why it matters: To understand what happened to the economy, and personal finances, look no further than the Federal Reserve's rate-hike response to the rapidly rising Consumer Price Index.
Ketchup, Funfetti, brisket, cherry, bubble gum, clove, Twinkies, mango chili, Caesar salad: Candy cane flavors are proliferating as the sugary sticks go from nostalgic favorite to hip retro cult item.
Why it matters: As retailers attempt to amp up iconic holiday symbols and flavors and introduce them earlier in the season — we're looking at you, pumpkin spice — they're building consumer demand for more must-have seasonal products, candy canes included.
The Internal Revenue Service didn't audit former President Donald Trump's taxes during the first two years of his presidency, according to a report published Tuesday by a Democrat-led House committee.
The big picture: The IRS is required to conduct mandatory audits of a sitting president's tax returns. Just one audit was begun during Trump's presidency, and the IRS had yet to complete it when his term ended, per the House Ways and Means Committee report. There's no suggestion that he was trying to influence the IRS in the report.
Elon Musk tweeted Tuesday evening that he would resign as Twitter's CEO "as soon as I find someone foolish enough to take the job."
Why it matters: Musk’s day-to-day involvement with Twitter has so far been chaotic and unpredictable, but it’s unclear if a new leader will be able to address the company’s business and morale problems under Musk’s ownership.
The Biden administration is plotting to make a fresh push on immigration reform in the new year, looking for ways to provide legal status for so-called "Dreamers" and increase the labor supply to help lower inflation, according to people familiar with the matter.
Why it matters: Biden’s political advisers know the situation at the border — with up to 14,000 migrants expected to be crossing every day if Title 42 ends — presents an urgent humanitarian emergency and a long-term political dilemma.
