More than five dozen daily newspapers owned by investment firm Alden Global Capital ran an editorial on Wednesday urging the news media to describe Hamas as a terrorist organization and its Oct. 7 attack on Israel as a terrorist attack.
Why it matters: Some newsrooms that are avoiding the term argue it's become too politicized. Others say the term accurately describes the group and the attack or that avoiding it normalizes Hamas' actions.
Driving the news: Amazon says it now has 10,000 of the vehicles in its last mile delivery network — the largest electric delivery van fleet in the country.
Tesla fell short of expectations on its third-quarter profit and revenue as price cuts and increased investments off set higher vehicle sales.
Why it matters: As competition ramps up, Tesla cut prices about 25% in the third quarter, compared to the same period a year earlier, according to Cox Automotive's Kelley Blue Book.
Delta Air Lines caved to customer complaints Wednesday, rolling back some of the restrictions it had placedon access to its Sky Club airport lounges and trimming the number of miles needed to earn elite status.
It'll still take more money than it does today to qualify for elite status, but the new thresholds are not quite as high as those that triggered the customer uproar in September.
Convoy, a Seattle-based logistics startup, is winding down its core trucking marketplace and will announce large layoffs on Thursday, Axios has learned from sources familiar with the situation.
Why it matters: The trucking marketplace gained a lot of buzz a few years ago, raising over $670 million from top investors like Jeff Bezos, Bill Gates, Capital G, Greylock, Y Combinator, and Fidelity.
Netflix's stocksoared more than 12% in after-hours trading Wednesday after the company said it beat Wall Street expectations on profit, and added more subscribers than expected. Its quarterly revenue was in-line with projections.
Why it matters: Better-than-expected subscriber growth suggests the company's efforts to crack down on password-sharing and offer a cheaper ad-tier are working.
Planning to fly the friendly skies anytime soon? Get used to hearing about WILMA.
Driving the news: United Airlines unveiled a new plan to speed up boarding, according to an internal company memo. Window seat tickets will get priority, followed by passengers in the middle and finally those on the aisle.
When the prosecution in Sam Bankman-Fried's criminal trial asked its accounting expert witness whether his analysis of Alameda Research and FTX's books showed the use of customer funds, he gave a simple answer: "Oh yes."
Why it matters: Shortly after the FTX bankruptcy, founder Bankman-Fried (SBF) repeatedly blamed its shortfalls on accounting errors and a large margin loan that got out of hand — not misuse of his cryptocurrency exchange's customer deposits.
The share of American households that own stock either in mutual funds, retirement accounts or as individual shares hit a new high in 2022.
Why it matters: The relatively large share of households with a stake in the stock market is a distinctive feature of American capitalism, setting it apart from other large advanced nations like the U.K., France, Germany and Canada, where equity market participation is much lower.
A free tax program announced Tuesday by the Internal Revenue Service will pilot in 13 states for the 2024 filing season.
Why it matters: Filing online returns for free could reshape how millions of Americans do their taxes and could have disruptive effects on the multi-billion dollar tax preparation industry.
Top Federal Reserve officials seem prepared to be done with raising interest rates. The economy hasn't gotten the memo.
Why it matters: It looks increasingly like the third quarter featured blockbuster GDP growth; so far, September's major data releases all point to robust activity heading into the fall. This puts the Fed in a bind.
The yield on the 10-year Treasury note rose to 4.84% Tuesday, hitting the highest level since August 2007.
By the numbers: The solid retail report and good data on industrial production lifted 10-year yields by 0.13 percentage points Tuesday, a pretty big one-day jump in the Treasury market.
The median income in the U.S. is $75,000 a year, but you'll need to earn $40,000 more to comfortably afford the median-priced home, per a new analysis from Redfin.
Why it matters: With mortgage rates at 20-year highs and home prices hardly budging, the barrier to homeownership is only getting higher.
Wendy's, IHOP, Chipotle, Sweetgreen and other quick-serve restaurant chains are rapidly adding AI to their front- and back-of-house operations — while monitoring for embarrassing boo-boos and Big-Brotherish intrusions.
X announced Tuesday that it will begin testing a subscription method that includes a $1 annual fee for new users.
Driving the news: New users in New Zealand and the Philippines will have to pay the fee in order to post content, like posts, reply, repost or quote other accounts' posts, per a post on the platform formerly known as Twitter.
