Axios

The single costliest type of natural catastrophe for insurers in 2023 isn't hurricanes or earthquakes or volcanic eruptions — it's thunderstorms.

Why it matters: Population growth, expanding cities in storm-prone regions, and climate change-driven trends in severe weather are all helping to vault insurance costs ever higher.

How can the U.S. avoid a replay of the regional banking crisis we saw earlier this year? One top regulator thinks he has the answer to that question.

Why it matters: The Federal Deposit Insurance Corporation, or FDIC, bore the brunt of the losses from the failures of Silicon Valley Bank and First Republic — some $20 billion and $13 billion, respectively.

The under-$20,000 new car is a goner.

Why it matters: The demise of cheap new rides thrusts more shoppers into the used-car market, where prices have consequently soared in recent years.

U.S. Steel is pushing back against a steelworker union effort to ensure that the company is purchased by rival Cleveland-Cliffs.

Why it matters: The fate of one of America's oldest and most iconic companies hangs in the balance.

Tyson Foods is seeking a buyer for its Chinese poultry business, according to Reuters.

Why it matters: This may reflect increased worry over China's economic slowdown, although a better bet is that it's about China's decreased meat consumption and rising feed costs.

A majority of Americans think the economy is in bad shape, but at the same time say their own finances are good, finds a new poll out from Quinnipiac University this week.

Why it matters: Since 2020, people's perceptions of the economy haven't quite lined up with, well, how the economy is doing. This latest poll offers a new way of looking at the phenomenon.

Rising interest rates have hammered tech-heavy growth stocks in the last few months.

Why it matters: Tech stocks have been the key driver of this year's rally, so if they falter, the market could be set for a hiccup, or worse.

The yield on the 10-year Treasury note soared to a 15-year high this week.

Why it matters: That's bad news for folks who want to take out a new mortgage — but it may also signal good news about the U.S. economy.

Profits held up far better in Q2 than folks on Wall Street expected.

Why it matters: Corporate America's resilient bottom line is another indication that the economy could pull off the much-ballyhooed soft landing.