Meat prices are losing their sizzle even as commodity and labor costs are rising in a double whammy for meat packers.
Why it matters: Meat price hikes were eye-popping earlier in the pandemic, casting a spotlight on food processors that capitalized on the sudden surge.
The 2023 Pulitzer Prize winners were announced Monday, with four of the 16 awards for journalism across 15 categories going to local outlets reporting on corruption among local officials.
Why it matters: The prizes reaffirm the importance of local news at a time when local news outlets are struggling to stay afloat.
At the end of 2022, the people closest to Sam Bankman-Fried — the ones who helped him launch and grow FTX — were turning themselves in fast. But in a phone conversation with me, the then-30-year-old founder was defiant about the charges against him.
Why it matters: The Department of Justice's case looks daunting for SBF, with 13 counts leveled against him, including recent charges of bribing foreign officials in China.
An increasing share of banks around the country are reporting stricter loan standards for consumers and businesses, according to the Federal Reserve — the latest indicator being watched for signs of a credit crunch in the wake of banking turmoil.
Why it matters: Lenders were already making it more difficult to get a loan, though there are signs the collapses of Silicon Valley Bank and Signature Bank have made other banks more cautious about extending credit. Policymakers say that will put a brake on economic activity.
Puck News co-founder and CEO Joe Purzycki is leaving the company, according to an internal note sent from co-founder and editor-in-chief Jon Kelly to staff Monday obtained by Axios.
Why it matters: Purzycki exits as Puck looks to finalize a new financing round.
With the pandemic public health emergency ending Thursday, time is quickly running out for most people to get COVID-19 tests covered by insurance.
Why it matters: The end of the federal government’s health emergency that began in March 2020 will shift who pays for the testing kits and some COVID-19 treatments.
Qualcomm on Monday said it has agreed to buy Autotalks, an Israeli maker of "vehicle-to-everything" communications chips, with a focus on preventing crashes.
Why it matters: This reflects how big chipmakers continue to view vehicles as a key growth area, given increased automation and complexity.
Despite plenty of hand-wringing over the economy, first-quarter profit and sales numbers have been strong, and analysts are lifting expectations for the rest of the year.
State of play: Corporate America's results almost always arrive better than expected, a reflection of executives' penchant for underpromising and overdelivering.
Warren Buffett revealed why he hasn’t moved to buttress a U.S. banking system suffering a confidence crisis — more accountability is needed from executives.
More people went to the office in Manhattan in the first three months of 2023, compared to the same time last year, per a report out Monday.
But there are signs that these office visitation rates are stalling, according to the data from the Real Estate Board of New York (REBNY).
What's happening: REBNY uses location analytics — using randomized cellphone data tracked by analytics firm Placer.ai — to assess how many visits were made to 250 office buildings across midtown Manhattan, midtown south and downtown.
School districts nationwide are rapidly adopting 4-day school weeks as they seek to cut costs and fill teacher vacancies by dangling 3-day weekends — despite research showing meaningful learning losses that result.
Why it matters: Less classroom time correlates directly with progressively lower test scores and academic achievement, studies of the 4-day school week ("4dsw") have found.
