Axios

The owner and operator of a cargo ship that caused a Baltimore bridge collapse in March has agreed to pay nearly $102 million to settle a civil lawsuit with the Department of Justice, the DOJ announced Thursday.

Why it matters: The Francis Scott Key Bridge collapse killed six construction workers and snarled shipping and traffic in one of the busiest ports in the U.S., blocking full access to the Port of Baltimore's main shipping channel until June.

Workers rejected Boeing's latest contract offer last night, meaning that a crippling strike will continue on, pushing back the timeline for when the company can even start to plot a recovery.

Why it matters: With potentially $100 million lost every day of the stoppage, the clock is ticking on the company's deteriorating balance sheet.

Tesla shares just had their best day in over a decade as investors continued to cheer the company's third-quarter report last night, which showed the strength and potential of its core EV business.

Yes, but: The ebullience may prove to be short-lived.

• Investors have been largely skeptical of Tesla's new autonomous and robotics-driven long-term strategy — despite CEO Elon Musk's best efforts to sell it this year.

What they're saying: "This is a burst of enthusiasm after several quarters of weak performance," Craig Irwin, Roth Capital senior research analyst, told CNBC today.

Southwest Airlines is breathing easier today after announcing a deal with activist investor Elliott Investment.

Between the lines: The settlement ends a highly public four-month fight and the prospect of a costly proxy battle.

• Southwest agreed to add five of Elliott's proposed directors to the company's board, as well as an additional new independent director.
• A new independent board chair will be named, with executive chair Gary Kelly set to step down as a director to become chair emeritus.
• But in a win for Southwest, CEO Bob Jordan — who had been in Elliott's crosshairs — will stay on the job.

Market impact: Southwest's shares closed down 5.6% today following news of the truce.

Talk about pent-up demand: The cheapest ticket in Los Angeles for the first World Series game between the Yankees and Dodgers in 43 years will cost you $887 on StubHub.

• 💰A seat above the Yankees dugout is listed for over $43,000.

Yes, but: That's a bargain compared to Yankee Stadium, where demand is about 40% higher than LA, according StubHub, per Bloomberg.

• Tickets for Monday's Game 3 in the Bronx right now are starting at $1,134 on the ticket resale site.
• That game is on track to set a World Series record, with the average ticket price at nearly $2,000, Bloomberg notes.

📺 Pete's thought bubble: Thank goodness for that 60-inch flat screen.

Add a new term to your list of global economics catchphrases: the triple pivot.

The big picture: That's what IMF leadership believes the world's nations need to accomplish over the coming years to ensure a prosperous future. But as the term suggests, it won't be easy — and contains some internal contradictions that will bedevil global policymakers.

Here's what's new on Paramount+, Netflix, Apple TV+, Hulu, Max, Disney+ and Prime Video.

What we're watching: A new season of "Lioness," the last season of "What We Do In The Shadows" and a psychological thriller starring Billy Crystal.

Boeing workers will remain on strike after 64% of union members voted against ratifying a new contract, the International Association of Machinists and Aerospace Workers (IAM) announced Wednesday night.

Why it matters: The strike that involves thousands of striking machinists has lasted for six weeks and crippled Boeing's production in a year when the aerospace giant was grappling with a battered reputation stemming from quality and safety issues.

Elon Musk and other Tesla executives avoided all talk of this year's U.S. presidential election on a call with Wall Street analysts on Wednesday afternoon.

Why it matters: Investors have grown increasingly worried that the CEO's highly public political engagement is taking a toll on Tesla sales.

Massive cleanup operations recently kicked off inside three of America's most iconic companies: Boeing, Starbucks and Nike.

Why it matters: Each dominate vastly different industries, but they all have two main problems — focus and culture.

Tesla's business had a remarkably strong third quarter.

Why it matters: Investors have grown increasingly worried about the health and direction of the company as CEO Elon Musk has spent more time this year on politics and selling a story about a future built on Tesla's robotics and autonomous vehicles.

Driving the news: The EV-maker and energy storage company reported 8% growth in revenue to $25.2 billion, and a 17% jump in net income to $2.2 billion, which largely beat Wall Street expectations.

• Shares popped over 7.5% after the bell on the news, though they're still down about 14% this year.

Behind the numbers: "Our cost of goods sold per vehicle came down to its lowest level ever at ~$35,100," the company said in a release.

B-schools are booming amid a tougher job market for white-collar industries like tech, fresh data shows.

Why it matters: A hot job market the last two years actually cooled demand for business schools.

Between the lines: More full-time MBA programs reported yearly application growth than any time in the last decade, the Graduate Management Admission Council says in a new report.

• Applications at some of the most prestigious names like Harvard and the University of Chicago saw double-digit dips in 2022.

McDonald's confirmed Wednesday that, as a precautionary measure, one-fifth of its restaurants are temporarily not selling Quarter Pounders because of the E. coli outbreak.

Why it matters: The fast-food giant is trying to reassure consumers that this doesn't appear to be a widespread or nationwide issue.

A majority of Americans often tell survey-takers that they live paycheck to paycheck. But a new look at aggregated data from one of America's largest banks implies that this may not be true.

Why it matters: A widespread, self-reported sense of financial strain suggests Americans think their financial lives are more precarious than economic data appears to indicate — the latest example of a disconnect between how people feel and what the data shows.

Twenty-three Nobel prize-winning economists are backing the economic policies of Vice President Kamala Harris in a letter released Wednesday, warning that former President Trump's economic policies would increase national debt and lead to higher prices.

Why it matters: With the economy a top priority for voters in the 2024 election, the signees backing Harris' policies are a boost for the Democratic nominee with less than two weeks until Election Day.

The U.S. Department of Transportation (DOT) slapped American Airlines with a record-setting $50 million fine on Wednesday for violating laws meant to protect passengers with disabilities.

The big picture: American Airlines was one of the worst performers among U.S. airlines in wheelchair and scooter mishandling claims and the rate of mishandling claims, the DOT said in a release announcing the penalty for violations between 2019 and 2023.

The same technology that puts AI chatbots on your phone and computer is coming to the car.

Why it matters: Having a powerful voice assistant at a time when you can't afford to take your eyes off the road could be enormously beneficial.

Vice President Kamala Harris is trying to retain the White House for the Democrats at a time when voters all over the world are throwing out their incumbents.

Why it matters: Harris could be swept out in the same tide of inflation-fueled economic angst that has doomed incumbents elsewhere. Or she could be saved by the relative buoyancy of the Biden-era U.S. economy — the envy of the world.