The crypto winter might not be over, but there could be signs of spring.
Why it matters: Crypto was in freefall in late 2022 as faith in digital assets suffered amid the FTX scandal and the collapse of other notable crypto companies.
Audiences swarmed theaters for “The Super Mario Bros. Movie” — boosting hopes that the traditional way of seeing movies is back in favor.
Why it matters: The pandemic forced movie studios to turn to streaming in a way it hadn't before and audiences stayed home. "And theaters had no leverage to fight the changes,” Variety’s Rebecca Rubin has noted.
Driving the news: AMC on Saturday saw its highest day of sales in the U.S. since theaters reopened.
Attendance at Cinemark on Saturday was the largest on a single day since Christmas 2019.
What they’re saying: "The narrative has been 'Why would you want to come to the theater anymore [when] you’ve got all these streaming options at home,’” Eric Wold, senior analyst at B. Riley Securities, told Axios.
“[Super Mario Bros.] shows that when you have a great film come out [that] you have to see in the theater for some amount of time, people will come out … The movie going experience is still there.”
Yes but: A few good hits may not be enough to totally revive the theater-going experience.
The domestic box office is still down 20% in gross sales compared to the same time in 2019, which is in line with the gap in the number of wide-release films since 2019.
What to watch: Disney’s live-action “The Little Mermaid” and the newest installment of “Mission: Impossible” are among this summer’s most hotly anticipated releases.
Chipotle unveiled an all-electric restaurant concept Tuesday that relies entirely on alternative energy to power its stoves, grills, electric car charging ports and more.
The big picture: The reveal comes as Chipotle and other fast-food chains are under enormous pressure to reduce their carbon emissions.
WeightWatchers shares soared Tuesday after a Goldman Sachs analyst heralded the company's plan to take advantage of the surging interest in weight-loss drugs.
Driving the news: With a database of about 4 million members and another 20 million former members, WW is uniquely positioned to promote its newly acquired "pharmaceutical based clinical subscription service" Sequence to people who want to lose weight, Goldman analyst Jason English wrote.
Many of the economic developmentsthat shaped global policymakers' discussions when they last gathered in the U.S. capitol have started to fade, though they have not disappeared entirely.
Zoom out: Supply chain disruptions have further eased, and commodity prices that surged in the wake of Russia's invasion of Ukraine have since fallen back.
March U.S. inflation dataout Wednesday may help answer a key question: Did the strong disinflation forces seen late last year reemerge in a notable way last month?
Why it matters: The answer may lie in the extent to which moderating prices reflected in private sector data start to appear in the government's figures.
The consortium of investors looking to acquire Forbes has removed Sun Group as lead investor in the bid over concerns with the Indian investor group's ties to Russia, sources told Axios.
Why it matters: Sun Group’s deep connections with Russia have raised concerns about the deal's ability to clear U.S. regulatory review. Forbes hoped to close the $800 million agreement by the end of March.
Journalists are buying back their companies and taking back their newsrooms.
Why it matters: The move underscores both the opportunity media executives see in giving creators ownership of their work and the major challenges that the sector faces, as investors and advertisers pull back and M&A opportunities fade.
The French Competition Authority is likelyto move forward soonwith an antitrust investigation into Apple over complaints tied to 2021 changes to its app tracking policies, sources told Axios.
Why it matters: A formal investigation would mark the first major government move taken globally against Apple related to privacy rule changes that upended the digital advertising world.
Denver-based gold miner Newmont has increased its takeover offer for Australian rival Newcrest to US$19.5 billion in stock.
Why it matters: Newmont already is the world's largest gold miner, and buying Newcrest would give it nearly double the annual output of its closest rival (Barrick Gold).
KKR has agreed to acquire a 30% stake in communications consultancy FGS Global, in a deal that values the company at $1.425 billion.
Why it matters: The continued investment in strategic communications advisories underscores the growing demand from companies seeking help with corporate affairs and stakeholder management services.
Office space available for lease in the U.S. is at a record high, according to data from CoStar.
Why it matters: Remote work is already crushing the office market, and the data is a sign that the distress is going to get worse — vacancies, already at historic highs, will likely go higher.
Russia is still shipping crude, but its oil revenues have plunged, fulfilling the twin goals of the energy price cap the U.S. government devised last year.
Why it matters: After it launched its war on Ukraine in 2022, Russia's position as a major oil supplier to global markets was seen as a constraint on the West's ability to punish Moscow.
Federal tax credits for electric vehicle (EV) purchases are about to disappear for many models under newly released IRS rules, but savvy shoppers are finding a workaround by leasing, rather than buying, their new car.
Why it matters: President Biden's effort to expand EV adoption through newly revised tax credits is proving to be unworkable for many of today's models, creating confusion and frustration for automakers, dealers and consumers.
Some venture capitalists are nurturing small upstarts amid the ongoing crypto winter.
Zoom in: Rarely as of late is the venture capitalist making it rain on the crypto sector. Rather, investments are small and are going to smaller operations whose missions are pointed at boning up the crypto ecosystem, VCs tell Axios.
There are many theories out there that say crypto could ruin everything — and now the U.S. has given one firm the nod to study how.
Why it matters: The same government agency credited with developing life-changing technologies like, GPS, Siri and the internet, is digging in to further its understanding of digital assets.
Driving the news: The company's stock closed down almost 49% Monday to $1.24 following its announcement last week that it could go out of business — its second "going concern" warning in less than six months.
The latest: The company has tapped investment bank Moelis & Co. and Chicago-based law firm Kirkland & Ellis to look into options for its nearly $700 million in long-term debt, according to Bloomberg.
The big picture: The nearly 80-year-old brand has struggled to attract customers amid its latest reinvention, which includes selling products through Amazon and Target and expanding beyond containers to include cooking gadgets.
The PC sector has been suffering a similar fate as retail — too much inventory and too little demand.
Why it matters: No major brand has been spared from the slowdown, Bloomberg notes, which comes after the industry saw explosive growth during the earlier part of the pandemic.
