SpaceX chief Elon Musk laughed off a question about a potential IPO for the company's satellite internet business during a live Twitter audio interview with Bloomberg on Saturday, saying it wouldn't be "legal" for him to comment.
Behind the question: The business, Starlink, is the primary driver of SpaceX's valuation, investors say.
Amazon plans to tap thousands of U.S. small businesses, from bodegas to florists, to deliver its packages by the end of the year, Axios is first to report.
Driving the news: Amazon on Monday will start actively recruiting existing small businesses in 23 states including Alabama, Alaska, Arkansas, California, Florida, Iowa, Indiana, Illinois, Massachusetts, Minnesota, North Carolina, North Dakota, New Jersey, New York, Ohio, South Dakota, and Washington.
The Federal Reserve and other regulators look likely to push more stringent requirements for the nation's biggest banks. Over the weekend, it became clear there would be a vocal opponent inside the central bank to any such changes.
What's new: Fed governor Michelle Bowman — appointed by former President Trump in 2018 — came out swinging on Sunday against tougher regulations being considered by colleagues on the board.
The White House and its allies are launching a full-court press to celebrate economic gains and set up core themes for President Biden's re-election campaign next year.
Beneath the rhetoric, there is a basic observation on which the Democratic pitch rests: The current mix of U.S. unemployment and inflation is entirely consistent with rates that have historically tended to get presidents re-elected.
Why it matters: While inflation is still uncomfortably high, the overall "misery index" — created by adding together the unemployment rate and inflation — has fallen precipitously over the last year.
Jesse Watters is moving into a new hosting role during the 8pm hour that was formerly hosted by Tucker Carlson, Fox News said Monday.
Why it matters: Fox News' 8pm ratings have lagged in recent weeks without Carlson. The former Fox News host regularly averaged more than 3 million viewers on his "Tucker Carlson Tonight"program.
Vox Media, the digital media holding company whose titles include New York Magazine, Eater and The Verge, has appointed a slew of executives to new C-suite positions as it looks to diversify its business.
Why it matters: The new appointments reflect a push by Vox Media to focus on new revenue streams, like commerce and subscriptions, while also growing its ad business, which makes up the vast majority of its revenue.
Nearly three years after it defaulted on its bonds, Zambia late last week announced a debt restructuring deal with key creditors — including China.
The big picture: China has long been viewed as holding up a deal. Its willingness to play ball on debt relief signals a possible path forward for other countries in distress — like Ghana or Ethiopia — which owe large amounts to China.
Last week's climate finance summit in Paris went a considerable way — but perhaps not far enough — to quell demands from developing nations for more funding to help offset the costs of climate change, and the transition to clean energy.
Why it matters: Global climate talks are riven by persistent issues of fairness and trust, with industrialized countries so far failing to deliver on promised climate funds.
Open-source AI models, which let anyone view and manipulate the code, are growing in popularity as startups and giants alike race to compete with market leader ChatGPT.
Why it matters: The White House and some experts fear open-source models could aid risky uses — especially synthetic biology, which could create the next pandemic. But those sounding the alarms may be too late.
Behold the anthropological dichotomy of the summer of 2023: Grown women are dressing in head-to-toe pink ("Barbiecore") and sipping pink cocktails at pop-up Malibu Barbie Cafés — while at the same time fighting the overturn of Roe v. Wade and promoting body positivity and #MeToo.
Driving the news: Love her or hate her, Barbie will be ubiquitous this summer, with the first live-action Barbie movie coming out July 21.
What she means for public debate over women's bodies and gender issues could spool on through the next election cycle.
Driving the news: "My primary goal is to prevent a similar occurrence by making the necessary recommendations to enhance the safety of the maritime domain worldwide," said Capt. Jason Neubauer, the chief investigator, during a briefing.
BlackRock CEO Larry Fink said he's no longer using the term "ESG" (environment, social and governance) because it is being politically "weaponized" and he's "ashamed" to be part of the debate on the issue.
Why it matters: How the world’s largest asset manager frames its investment approach is a leading indicator for the market. BlackRock manages $9.2 trillion.
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