Southwest Airlines CEO Robert Jordan says he's confident the meltdown last December that paralyzed the company's operations won't happen again this winter.
Driving the news: During an interview at the Denver airport Wednesday, Jordan outlined a host of improvements, from software and operations upgrades to additional hiring and equipment, to prepare for the winter season.
General Motors and Stellantis announced layoffs affecting over 2,000 combined workers Wednesday, as the historic United Auto Workers strike continues on.
The big picture: The UAW's president, Shawn Fain, has demanded that the three companies targeted in the strike make significant progress on a fair agreement by Friday at noon or he will urge more workers to join.
Amazon held its annual fall event to show off the company's latest smart speakers, displays and tablets. But the company's plans to bolster its voice assistant Alexa using generative AI was arguably the biggest news of the day.
Why it matters: The popularity of Alexa helps boost the company’s hardware strategy and e-commerce business. The Alexa changes will also help demonstrate just how well — or not — Amazon’s generative AI capabilities are keeping pace with Google and other rivals.
The Federal Reserve elected to leave interest rates unchanged Wednesday, and issued new projections indicating most officials anticipate one more interest rate hike this year.
Why it matters: The central bank's 18-month campaign to slow inflation sent convulsions through financial markets and put economists on high alert for a recession. That campaign now appears to be coming to a close, though rate cuts appear far off.
In a country as large as the United States, there isn't just one labor market. There are many. And some are flashing more serious warning signs than others about the economy.
Why it matters: State-level jobs data released yesterday shows that while the U.S. job market remains on solid footing, a couple of states are displaying dynamics more commonly seen in recessions.
Adidas CEO Bjorn Gulden said on a financial podcast that he doesn't think Ye, formerly known as Kanye West, meant his statements attacking Jews and praising Nazis.
Driving the news: "I don't think he's a bad person, he just came across that way," Gulden said on the Sept. 12 episode of "In Good Company with Nicolai Tangen". "And that meant we lost that business — one of the most successful collabs."
Kraft Heinz is voluntarily recalling nearly 84,000 cases of its individually wrapped American cheese singles over a potential choking hazard.
Driving the news: The company said in a statement the recall is a precaution after a temporary issue with one of its wrapping machines made it possible that a "thin strip of the individual film may remain on the slice after the wrapper has been removed."
It's been nearly three years since the collapse of Intarcia, a diabetes-focused biotech that had burned through around $2 billion from venture capitalists.
Tomorrow may mark the beginning of its unlikely revival.
Why it matters: More than 30 million Americans have Type 2 diabetes, according to the CDC.
Airbnb CEO Brian Chesky believes new and recent product changes will boost the company's reputation amid criticisms over prices and more — but that won't happen tomorrow, or the next day, or the day after that.
The company will reach a greater level of "quality reliability" by next May, Chesky tells Axios. "I think the reputation of our service will probably take another year after that."
Production cuts coordinated by oil giants Saudi Arabia and Russia have helped drive global crude prices sharply higher.
Why it matters: The rise in oil prices seems to be giving the stock market agita,by reinvigorating inflation pressures and increasing the chances that the Federal Reserve imposes more interest rate hikes.
An index that measures small business owners' confidence jumped six points in the third quarter, nearly reaching its pre-pandemic high.
Why it matters: Score one for team soft landing — the index, published by the Chamber of Commerce Wednesday morning, is another sign that the economy is doing OK.
In 10 days, the U.S. will fall off a "child care cliff" — that's the day pandemic-era funding for the industry runs out.
Why it matters: The funding amounted to a $24 billion Band-aid patched over an industry that's long struggled. When the bandage comes off, the state of child care in the U.S. is likely to be even worse than it was before 2020.
Former Republican Indiana Rep. Stephen Buyer was sentenced Tuesday to 22 months in prison for insider trading, perthe U.S. Attorney's Office for the Southern District of New York.
Driving the news: Buyer provided false explanations for his Sprint and Navigant trading schemes, which U.S. District Judge Richard Berman found at sentencing to constitute obstruction of justice, per the U.S. Attorney's Office.
The big picture: The movecomes as Republican presidential front-runner Trump is expected to visit Detroit next week to deliver a speech to striking union workers instead of appearing at the GOP primary debate.
Ford and Canadian auto workers "reached a tentative agreement" in negotiations for a new labour contract, said the company and the union on Tuesday night.
Why it matters: An agreement between Ford and Unifor, the union representing over 5,600 members, on a new contract deal in Canada would stave off strike action, as the "Detroit Three" auto makers grapple with the UAW's historic strike across the border in the U.S.
