Generation Alpha are still being born, but they're already on the minds of marketers.
The big picture: Defined in a Morning Consult report as children under 9, the generation is expected to have a solid financial foundation, and many are already having an influence on household purchases.
Managing directors at JPMorgan Chase must now be in the office every weekday, Axios has confirmed. Bloomberg earlier reported the news.
Why it matters: Wall Street giants started to push harder for workers to return to offices last year, even as continuous studies reflect how much many people prefer flexible and hybrid work.
The Biden administration's effort to spur domestic battery manufacturing is running into a problem: Some criticalraw materials are only found abroad, and China controls much of the supply.
Why it matters: The provenance of raw materials used in electric vehicle (EV) production — including lithium, nickel, cobalt and graphite — is about to have a huge impact on tax credits designed to put such cars within reach of average Americans.
The price of postage stamps is poised to increase in July for the second time this year — the 17th rate change since 2000 — under a new proposal by the Postal Service.
Why it matters: If the 3-cent increase is approved by the Postal Regulatory Commission, it would be the shortest time between increases in the Postal Service's history.
Elon Musk on Wednesday tweeted "Defund NPR" after the nonprofit media organization said it was suspending its use of Twitter over a new "government-funded" label on its account.
Driving the news: Musk's tweet escalates an already deteriorating relationship with NPR, which said it would not resume tweeting unless the label is removed.
Federal Reserve officials anticipated that the recent collapse of Silicon Valley Bank was likely to weigh on inflation and the broader U.S. economy, with central bank staff forecasting a "mild recession" later this year, according to minutes of their last policy meeting in late March released on Wednesday.
Why it matters: The minutes offer the most detailed accounting yet of deliberations to push ahead with another rate hike in the wake of bank failures that spooked the financial system — and the risks they viewed for the economy.
PBS has not tweeted from its main Twitter handle since April 8, following Elon Musk's decision to label the outlet "government-funded news."
Why it matters: PBS joins NPR, another major editorially independent outlet that receives some government funding, in halting its Twitter activity in light of the new label.
Warner Bros. Discovery on Wednesday unveiled the new name and branding for its combined streaming service that is set to debut on May 23.
Why it matters: Combining its two services will allow the company to compete more directly with bigger streaming players, like Netflix and Disney+. The merger may also create synergies, which could help Warner Bros. Discovery pay down its enormous debt load.
SoftBank Group has agreed to sell SoftBank Ventures Asia to a new entity co-founded by Taizo Son, the younger brother of SoftBank founder and CEO Masayoshi Son.
Why it matters: Beyond the nepotism, this is SoftBank walking away from one of its oldest venture capital efforts. SBVA was launched in 2000 and reports over $2 billion in funds under management.
Overall consumer price gains cooled last month, though underlying measures continued to show sticky inflation pressure, according to government data released on Wednesday.
Why it matters: The consumer price index rose 0.1% in March, a much slower pace than the 0.4% gain in the prior month. But the inflation gauge that strips out volatile food and energy costs continued to rise at a quick pace.
If you're waiting for the commercial real estate apocalypse to hit, it might be a while — maybe forever.
Why it matters: Commercial real estate, particularly the office sector, is slumping — and the regional banks that lend to the space aren't looking so hot either — leading to concerns about a "doom loop."
A pair of Air Jordans worn by Michael Jordan became the world's most expensive sneakers on Tuesday when they sold for $2.2 million at a Sotheby's online auction.
Why it matters: Although the Air Jordan XIIIs that the legendary basketball player wore during the 1998 "Last Dance" NBA finals season didn't fetch as much as some anticipated, it's the latest example of such memorabilia reaching record prices as demand for nostalgic sports collectables surges.
