In a strange series of events over the last few days, Bloomberg reported that a forthcoming book claims that during the early days of the Biden administration, Treasury Secretary Janet Yellen pushed for a smaller pandemic rescue package, based on inflation fears — but Yellen denied it.
Why it matters: To understand this seemingly obscure dispute is to understand a central fault line between the Biden administration and economists outside the administration who are sympathetic to its goals.
Companies such as Nike have been rushing to digitize their products (sneakers, burgers, beer, clothing, tweets) in the form of NFTs, or non-fungible tokens, and add-ons for virtual spaces — or the metaverse.
Why it matters: Popularity can be monetized in more ways than ever. But with that comes a whole new set of threats to brand protection.
Solar companies and their investors hailed the Biden administration's move to jolt the U.S. solar industry with a new order that both temporarily removes tariffs on imports and bolsters domestic manufacturers.
Why it matters: Solar installations were expected to fall by 7% in 2022, according to S&P Global Market Intelligence, as the industry faced supply concerns triggered by the prospect of retroactive penalties applied to previously imported products.
The next time you get a receipt, consider taking a closer look.
Why it matters: While Americans already grappling with record inflation are less surprised by the rising costs of goods, many are finding new fees taking a bite out of their budgets.
Taco Bell'snew “Defy” restaurant concept, which looks like a combo of The Jetsons and a fancy new bank, promises to deliver food to your car faster through vertical lifts that work similarly to tubes used by banks.
Driving the news: The first two-story Defy location with four drive-thru lanes opens Tuesday.
"Over the three days from May 7 through May 9, Terra’s UST stablecoin deviated from its $1 peg in a sudden turn of events," a blog post last week from Jump Crypto begins.
Driving the news: Jump Crypto is a major market maker, meaning its business is taking the other side of as many trades as it possibly can. Its research team sat down to look at why the stablecoin terraUSD (UST) fell apart in early May.
Bristol Myers Squibb agreed to buy Turning Point Therapeutics, a San Diego-based precision oncology company whose lead candidate focuses on lung cancer, for $4.1 billion in cash.
Why it matters: This reflects the biotech industry's stock slump, as incumbents look to restock their portfolios with newer drugs. Turning Point shareholders will get a 122% premium to Thursday's closing price, but a discount to the stock's September 2021 peak.
Elon Musk has a "right not to consummate" his acquisition of Twitter and a "right to terminate the merger agreement," according to a letter from his lawyers to the Twitter general counsel Vijaya Gadde sent Monday morning.
Why it matters: While Musk has been tweeting about the deal being "on hold" for a while, this is his first formal, legal suggestion that his agreement to buy Twitter is anything other than legally watertight.
JetBlue said Monday it was raising its offer to buy Spirit Airlines as the battle to buy the airline ramps up.
Driving the news: JetBlue raised the break-up fee that would be paid to Spirit shareholders if the deal is blocked by regulators to $350 million, which represents $3.20 per Spirit share, JetBlue said.
Religion of Sports, the sports media production company co-founded by Tom Brady, Michael Strahan and filmmaker and entrepreneur Gotham Chopra, has raised $50 million in a new series B funding round led by Shamrock Capital.
The big picture: Production companies founded by star athletes are booming in the streaming era, as entertainment networks scramble to find content that will break through.
The House's Jan. 6 committee has turned to a renowned former network news executive to hone a mountain of explosive material into a captivating multimedia presentation for a prime-time hearing Thursday.
James Goldston — former president of ABC News, and a master documentary storyteller who ran "Good Morning America" and "Nightline" — has joined the committee as an unannounced adviser, Axios has learned.
A new report evaluates the business climate for LGTBQ+ people across the U.S., aiming to help leaders make equitable decisions about where to operate — in an increasingly polarizing country.
Why it matters: Doing business in a state that's hostile to LGBTQ+ rights can be costly. Disney learned this lesson earlier this year, after Florida passed what came to be known as the Don't Say Gay Bill and the company became embroiled in a big PR dustup.
Investors have lost at least a billion dollars on crypto scams, and a new ad campaign from the SEC wants to help them avoid such pitfalls.
Why it matters: The ads encourage skepticism towards faddish investments, but also urge individuals to "do your own research" — a phrase associated with conspiracy theories and mistrust of official messaging.
More warehouse workers, fewer waiters. More health store employees, fewer in public schools: the overall job market is nearly back to full strength, but it looks strikingly different.
Why it matters: Pandemic-era disruptions have shaken up the composition of the labor force — with big implications for how industries will have to adjust to a longer-term worker shortfall.
