Gatorade has a new product without the bright colors or flavors: water.
Driving the news: PepsiCo announced Thursday that it will soon launch Gatorade Water: "electrolyte infused for a refreshing and crisp taste... developed to help support all-day hydration for active people."
Ryan Salame, the former head of FTX Digital Markets, agreed to plead guilty to two criminal counts related to the charges being faced by Sam Bankman-Fried, who founded the now-bankrupt cryptocurrency platform.
Why it matters: There have been question marks around Salame, as well as a few other members of the inner circle who've not yet faced justice. With Salame's plea deal, the public should get somewhat more clarity about what really happened inside the collapsed crypto exchange.
President Biden and the leaders of India, Saudi Arabia and the United Arab Emirates hope to announce a major joint infrastructure deal on Saturday that will connect Gulf and Arab countries via a network of railways, two sources with direct knowledge of the plan told Axios. It will also connect to India through shipping lanes from ports in the region,
Why it matters: The project is one of the key initiatives the White House is pushing in the Middle East as China's influence in the region grows. The Middle East is a key part of China's Belt and Road vision.
The Arena Group, a publicly traded digital holding company, is launching a creator network with more than 100 social media influencers across culture, food, fashion, sports and travel.
Why it matters: It's part of a greater push to expand the footprint of the Arena Group's properties, like Sports Illustrated and The Street, beyond the web.
The U.S.-China tit-for-tattech battle is starting to impact one of the most profitable and influential companies in the world — Apple.
Driving the news: Two separate reports from WSJ and Bloomberg this week suggest that the Chinese government is expanding a ban on using iPhones and other foreign-branded devices for work within certain government agencies and state companies.
Former White House spokesperson Jen Psaki will host an hour of prime-time programming at 8pm on Monday evenings for MSNBC, beginning Sept. 25, the network announced today.
Why it matters: The network has leaned into partisan personalities to drive ratings in the post-Trump era.
Watch Apple's new horrific drama series, uncover the troubling secrets kept by the Boy Scouts of America or see what kind of drama a group of real estate agents in Southern California's Newport Beach are up to.
Here's what's new on streaming this weekend.
🧜🏾♀️ Attention Ariel fans:"The Little Mermaid (2023)" starring Halle Bailey and Melissa McCarthy is now available on Disney+.
TPG is selling its majority stake in Creative Artists Agency to French billionaire François-Henri Pinault, the company announced Thursday.
Why it matters: One of the largest sales in the Hollywood talent agency space, this is the latest deal following CAA's acquisition of rival firm ICM last year.
Apple's Impact Accelerator program, which helps businesses that have Black, Latino or Indigenous owners, has unveiled the third group of companies to be accepted.
The big picture: The program is part of Apple's Racial Equity and Justice Initiative, launched after the murder of George Floyd. Apple initially allocated $100 million to the fund but has since more than doubled the investment, according to the company.
In-person gatherings are back in full force following years of scarcely filled conference center ballrooms and virtual appearances.
Why it matters: There are more event opportunities than ever before, but time is limited and budgets are tight, making it critical for communications teams to identify and book the most worthwhile opportunities.
Erin Pelton leads communications and public affairs for global commerce platform Shopify, which connects millions of independent retailers to consumers worldwide.
Why it matters: Shopify's platform is transforming the way we exchange goods and services, while the company's internal policies are pushing the boundaries of work-life balance and productivity — and Pelton is responsible for sharing both stories.
Why it matters: Disengaged employees can be costly, and openly unhappy or disloyal employees can directly impact company morale by creating a toxic workplace.
Private equity got almost everything it wanted when securities regulators watered down their new fund oversight rules. Now it wants the rest.
Driving the news: Six trade groups, including the American Investment Council and National Venture Capital Association, last week filed a lawsuit seeking to block the SEC from implementing its Private Fund Advisers rule.
A coalition of non-partisan philanthropies announced Thursday a plan to commit more than $500 million over the next five years to a new initiative called "Press Forward" that will support local journalism across the country.
Why it matters: Philanthropists are increasingly stepping up to help local news organizations launch and survive in the U.S.
Why it matters: The surge in Novo's shares this year propelled it past luxury goods giant LVMH and Swiss food conglomerate Nestlé to become the largest company by market cap in Europe. The fresh title reflects growing excitement about the potential for Novo's drugs, Ozempic and Wegovy, to revolutionize the treatment of obesity.
With interest rates so high, Americans are far less inclined to tap into their home equity this year via cash-out refinances or home equity loans.
Why it matters: For homeowners, this is a bummer — folks are putting off kitchen renovations, and other home improvements. On the macro level, it's holding back hundreds of billions in consumer spending.
Bill Daley, a former White House chief of staff and Commerce Secretary who is one of the nation's best-connected Democrats, will retire at the end of the year as Wells Fargo's vice chairman and head of public affairs, the bank will announce on Thursday.
Why it matters:Daley told Axios he's helped lead "a real change" in the bank's reputation since he joined in 2019, as it rebuilds from the fake-accounts scandal that exploded in 2017.
New apartment construction is on track to top a 50-year high, with nearly 461,000 units expected to be built across the U.S. this year, according to a new report.
Why it matters: A housing shortage in the U.S. has contributed to the rising cost of both renting and buying.
Driving the news: Venture capital and private equity investors on Tuesday invested over $2 billion into nearly a dozen climate tech companies, making it one of the sector's busiest deal days.
