Clorox is recalling 37 million Pine-Sol products because they may contain bacteria, including pseudomonas aeruginosa, the company said Tuesday.
Why it matters: People with weakened immune systems or external medical devices who are exposed "face a risk of serious infection that may require medical treatment," Clorox said in the recall notice.
Fortune 500 companies are retaining major law firms with GOP relationships in anticipation of a Republican-controlled House eager for retribution against corporations it views as abetting left-wing forces.
Why it matters: Once the allies of big business, the modern Republican Party is preparing to accelerate a political realignment by wielding Congress' subpoena power against key segments of corporate America.
Why it matters: Adidas is the latest company in recent days to drop the artist, formerly known as Kanye West, facing mounting pressure after he made multiple antisemitic comments.
UPS delivered a surprisingly upbeat outlook Tuesday, its financial path diverging from that of its rival FedEx, which recently sounded alarms about the economy in reporting its own down quarter.
Why it matters: For two companies whose financial health is typically aligned, the dramatic deviation illustrates the criticality of execution in an increasingly challenging environment.
Virgin Australia is offering travelers the chance to turn the dreaded middle seat into a lottery ticket.
Driving the news: The airline announced the launch of the “Middle Seat Lottery” Monday to transform the “middle seats on the airline’s domestic flights from the least favourite to the most fun and wonderful.”
Driving the news: Venmo is starting to be rolled out as a payment option to select Amazon accounts and will be available for all U.S. accounts by Black Friday.
The firm led by activist investor Vivek Ramaswamy is launching a new nationwide campaign aimed at getting major corporations to separate growth goals from increasingly polarized cultural issues characterized by environmental, social and governance (ESG).
Driving the news: Starting Tuesday, Strive Asset Management will air digital ads that invoke a spirit of bipartisanship to "promote excellence over ESG priorities" that some view as divisive.
MrBeast, the YouTube star turned entrepreneur, is looking to raise around $150 million for his business at a roughly $1.5 billion valuation, three sources familiar with the conversations told Axios.
Why it matters: The funding would help MrBeast — whose real name is Jimmy Donaldson — quickly expand his massive video empire further across restaurants, consumer goods and merchandise.
After a three-week hiatus, the "Manningcast" returned on Monday night with its biggest guest yet: Former President Obama.
Driving the news: Obama joined the Manning brothers for the first quarter and saw his Bears have some early success en route to a 33-14 win over the Patriots.
It's a brutal, fearful time for American media — with companies scrambling to cut costs and secure cash in a scenario reminiscent of the early pandemic.
Flair Airlines, a Canadian budget airline, is in talks to go public via New Vista Acquisition Corp., a blank check company led by former Boeing CEO Dennis Muilenburg, per Bloomberg.
Why it matters: Muilenburg was fired as Boeing's CEO in 2019 for fostering a culture that prioritized profits over safety, having led the company during the 737 MAX rollout.
Paul Ryan entered the SPAC market in mid-2020, alongside a slew of other big names from the power corridors of politics, business and entertainment. The difference is that he's stuck around, while so many others ran for cover.
Driving the news: Ryan on Tuesday will help ring the New York Stock Exchange bell, as the SPAC he chairs completes its merger with portfolio assets of Grey Rock, a Dallas-based oil and gas private equity firm.
Media mogul Jimmy Lai was found guilty by a Hong Kong court of two fraud charges on Tuesday. He's one of the most prominent pro-democracy voices to be prosecuted in the region following sweeping protests in 2019.
Why it matters: The guilty verdict marks a huge loss for press freedoms in Hong Kong, where the government has pushed to stamp out pro-democracy voices after passing a draconian national security law in 2019.
Global capital fled China en masse Monday in the aftermath of Xi Jinping's quasi-coronation as the sole power in charge of China.
Why it matters: Market moves suggest investors were surprised by the extent to which Xi's elevation signaled a coming period of conflict with the West — and a backdrop that could make it increasingly difficult for investors to extricate themselves from what's been the most important growth market for decades.
Bloomberg Businessweek devotes its latest issue, out Tuesday, to a 40,000-word essay about crypto by finance writer Matt Levine.
Why it matters: If you're still confused about crypto, Levine, who writes the beloved Money Stuff newsletter, offers a clear-eyed explanation. You might come away truly understanding what a crypto miner does. But that's not the only reason to read this opus.
Adidas, the German multinational retailer, said Tuesday that it has dropped its partnership with Ye, effectively immediately, in light of antisemitic remarks made by the rapper-turned-entrepreneur.
Why it matters: Adidas had been facing a buildup of public pressure to denounce Ye's remarks, after a slew of other companies affiliated with Ye — including his talent agency — dropped him.
Companies that make faux burgers and other meat substitutes are laying off employees and staring down weak sales, amid what Beyond Meat describes as "ongoing softness in the plant-based meat category."
Why it matters: The biggest fast-food chains and meat producers have raced to cash in on fake meat, sensing consumer appetite for sustainable and animal-friendly alternatives. But high prices and flattening demand have dogged the industry.
The Biden administration is in early, quiet discussions with key Senate offices about raising the debt ceiling in the lame-duck session of Congress, Axios has learned.
Why it matters: The preliminary conversations reveal two political near-certainties gripping Washington: Republicans are likely to win control of the House, and a potential Speaker Kevin McCarthy would use the debt ceiling to extract painful spending cuts from the White House — even if it threatens to crash the economy.
