Grayscale Investments is pressing the Securities and Exchange Commission for next steps in getting a spot bitcoin ETF launched.
Driving the news: The firm's legal counsel submitted a comment letter Tuesday asking for a meeting with the U.S. regulator, highlighting the urgency of the matter by pointing to investors left in the lurch without one.
Lionel Messi's debut for Inter Miami sparked the biggest single-day subscription increase ever for Apple TV's MLS streaming service, according to new data.
Why it matters: Live sports rights — especially when they involve a superstar athlete — can help lure subscribers to streaming services that have so far mostly invested in on-demand entertainment.
Oil prices climbed to their highest level of the year Tuesday.
Why it matters: The rise came after Saudi Arabia and Russia — the second and third largest global producers — announced at 9 a.m. ET that they're both extending their voluntary cuts in oil production through the end of 2023.
The latest: The brief ground stop was lifted after around 30 minutes after United "identified a fix for the technology issue," the FAA and the company said.
Street vending was legalized in California five years ago, yet vendors in many cities face cumbersome permitting processes, limits on where they can set up and an uptick in violence, advocates and sellers tell Axios.
The big picture: There have long been battles over the rights of street vendors — most of whom, advocates say, are Latino and immigrants. That's especially true in the country's two largest cities, Los Angeles and New York.
New rules governing short-term stays book via Airbnb, Vrbo and similar platforms in New York City could have broader consequences for the vacation rental industry, just as it faces headwinds from some travelers who are once again favoring traditional hotels over residential-style listings.
Why it matters: The change — which Airbnb has called a "de facto ban" — is one of the most significant moves a major city has made in recent years to curtail short-term rentals, coming after New Orleans issued new restrictions of its own in March.
Bitcoin may be volatile, but the returns for miners don't have to be. That's the message from GSR, a firm pitching hedging products that would make miners' revenue more predictable.
Why it matters: The $500 billion Bitcoin network would be considerably more resilient if its largest operators weren't in danger of going under every time there's a massive drawdown.
Private investment firm Victory Park Capital is struggling to sell Perch, an Amazon marketplace rollup platform that in 2021 raised $775 million, according to Bloomberg.
Why it matters: The clock has struck midnight for many of these Amazon aggregators, which have turned into rotting pumpkins after a couple of years of pandemic-fueled prancing.
TikTok has posted a slew of new jobs in the past week for roles that include building more social networking and private messaging features.
Why it matters: Inside TikTok, there's concern that users are sharing TikTok videos externally on other social media and messaging apps when they want to discuss them with friends, sources told Axios.
Suppose you expect your income to rise 5% a year, and you borrow money each year at a 6% interest rate with no plans to pay it down. The debt service will take up a rising share of your income.
Driving the news: Real yields — the interest rate the government pays on inflation-protected bonds — have risen sharply since July and are now higher than mainstream estimates of real GDP growth for the coming decades.
Last week's barrage of inflation, spending and employment data supported the idea that the economy is going through a relatively painless slowdown that could reduce inflation without further interest rate hikes.
A Fed governor on Tuesday morning confirmed that view is held among the central bank's leadership.
Driving the news: In an appearance on CNBC, governor Christopher Waller said "that was a hell of a good week of data we got last week," which should allow the central bank "to proceed carefully" with its next moves.
The financial dispute between Disney and Charter highlights the growing tensions between content providers and cable and satellite operators as cord-cutting threatens to permanently unravel the cable TV business.
Why it matters: If this fight isn't resolved, the entire business model for the traditional cable TV industry could be on the verge of collapsing.
Truth Social, former President Trump's social media platform, got a major reprieve on Tuesday, courtesy of shareholders in the blank-check company seeking to take it public.
Driving the news: Digital World Acquisition Corp. (DWAC) will get another 12 months to complete its troubled merger with Trump Media & Technology Group.
Local government employment — primarily jobs at schools — still hasn't recovered from the pandemic, according to fresh Bureau of Labor Statistics data.
Why it matters: Parents are sending their kids back to school this week. But there may not be enough teachers there to greet them. Schools around the country are struggling to hire.
First half U.S. gross domestic product was a hair over 2%. Inflation expectations are nearly back to 2%. Job growth over last year? You guessed it.
Why it matters: It may not last, but right now, it looks like we're moving back toward the slow growth environment that preceded the COVID-19 crisis, something we used to call the "2% world."
In a new GE and Ipsos poll, 40% of entry-level employees say they don't see their CEOs "walk the walk" — and the workers want more authentic internal communication.
Why it matters: Asked whether executives effectively communicate the company's values, 85% of top leaders said yes — but only 62% of junior employees agreed.
Merger Mondays used to be CNBC's version of Must-See TV, with corporate mergers kicking off every workweek. After a long hiatus, dealmakers think they're ready for a comeback.
Driving the news: Fueling these hopes are a surprising number of big-ticket summer deals, improved business confidence and easier bank lending.
The Biden campaign plans to place a new TV ad targeted to battleground states during the NFL season opener Thursday, a source working with the campaign told Axios. The spot is part of a broader $25 million campaign that will focus on the president's economic record and last through December.
Why it matters: A new Wall Street Journal poll out Monday finds a majority of American voters disapprove of the president's handling of the economy and inflation.
