The cardio vs. weights debate erupted during the Axios business team meeting today when discussing our 1 big thing, Nathan writes.
The intrigue: The fireworks began after discussing the comment from Planet Fitness' Benson that people are stepping over the cardio machines to hit the weights.
The Gen Xers on our team were skeptical. They like their cardio, apparently.
💭 Nathan's thought bubble: I, for one, go for a mix of cardio and weights for my workout. I'm no biology expert, but isn't that best for the body?
What say you, Closer readers? Have you lost interest in cardio? Is it all about strength training for you these days?
Americans are losing interest in cardio equipment — and that's causing fitness companies to sweat.
Why it matters: The home fitness industry was already reeling from slumping sales when exercisers returned to the gym after pandemic shutdowns — and now comes a shift in how people want to work out.
Leaner inventory at Target stores has meant fewer markdowns and should translate into stronger future profits, company officials said today.
Why it matters: The Minneapolis-based retailer said its comparable sales declined for the third quarter in a row but shared a plan to grow sales by relaunching its Target Circle loyalty program.
When January inflation numbers came in hot last month, one big reason was a spike in "owner's equivalent rent" (OER), the concept the Bureau of Labor Statistics uses to account for inflation in homes that people own.
But the uptick may have been largely driven by a change in statistical methodology that was revealed over the last week.
Why it matters: The kerfuffle shows how much of our understanding of the economy rests on abstract concepts and decisions made in the bowels of the statistics-collecting bureaucracy that usually doesn't get much public attention.
Bitcoin has reached a new all-time high, breaking its prior nominal record of $69,225 hit on November 10, 2021, on Coinbase, the largest crypto exchange in the U.S.
Restructuring sovereign debt after a default is hard — but New York state legislators think they have a solution. They've revived a bill, first proposed last year, to reshape how these workouts are done.
Why it matters: Sovereign debt is one of the world's largest securities markets, where economies from across the globe access much-needed capital from private investors.
Asia's richest man, Mukesh Ambani, fêted other billionaires at his youngest son's pre-wedding bash over the weekend in Jamnagar,India, Hope writes.
Zoom in: Meta CEO Mark Zuckerberg, Microsoft co-founder Bill Gates and BlackRock CEO Larry Fink were in attendance among 1,200 invited guests, according to reports.
Ambani's net worth sits at $113 billion, per Bloomberg, thanks to Reliance Industries — a conglomerate he runs that spans telecom and media, food, energy, retail, and petroleum refining.
Why it matters: A year after the collapse of Silicon Valley Bank (and subsequently Signature and First Republic banks), smaller lenders' balance sheets are under scrutiny for their exposure to the commercial real estate market.
Generative artificial intelligence could create more rapid change in the workplace and the economy than previous waves of tech advances.
Why it matters: If that assessment, made by a top Federal Reserve official and other thinkers at a high-profile conference Friday, proves correct, it would mean higher growth, rising incomes, less inflation — even as there's churn in the labor market as some tasks become automated.
California voters on Tuesday could approve an overhaul of the state's approach to mental health treatment and homelessness, creating a blueprint supporters hope — and opponents fear — could be replicated elsewhere.
Yes, college is still worth it: The wage gap between recent college and high school grads has been widening for decades, and grew even more last year, per new data from the Federal Reserve Bank of New York.
Why it matters: Even so, Americans are falling out of love with the idea of a four-year degree.
