Axios

Fast-food chains are rushing to pull raw onions from their meals this week as part of a still-expanding E. coli outbreak tied to McDonald's Quarter Pounders.

Why it matters: McDonald's and others are in the midst of trying to win back customers. They can't afford another reason for diners to pass them over.

Former Abercrombie & Fitch CEO Mike Jeffries pleaded not guilty on Friday to 16 counts of sex trafficking and international prostitution in Central Islip, New York, multiple outlets reported.

The big picture: Jeffries and two other men were arrested earlier this week for allegedly running a trafficking operation from 2008 to 2015 that coerced young men. Those arrested spent millions to support and cover it up, the indictment said.

Yum! Brands confirmed to Axios that it has removed fresh onions from select Taco Bell, KFC and Pizza Hut restaurants as it monitors a multistate E. coli outbreak.

Why it matters: The company said the move was "out of an abundance of caution" and done proactively.

A second cybersecurity company has detected a fake IT worker trying to infiltrate its ranks — but this time, the job applicant wasn't from North Korea.

Why it matters: Officials have been focused on the threat North Korea-based IT workers pose to U.S. companies.

About the caregivers: The featured caregivers are paid collaborators of Otsuka who have shared their stories as a part of Otsuka's Still Here conversation series, to shine a light on the caregiver experience.

Family caregivers for loved ones with Alzheimer's and dementia could earn a six-figure salary if paid for their daily services, according to a new study from Salary.com sponsored by Otsuka.

The inflation shock is over. The sense of crisis it triggered still haunts global policymakers.

Why it matters: That was the underlying tone of conversations on the sidelines of the annual meetings of the International Monetary Fund and World Bank this week.

Scout Motors, Volkswagen's new electric off-road vehicle brand, said its first models will be available with a backup gasoline generator — an acknowledgment of many Americans' anxiety about going fully electric.

Why it matters: As a bit of a latecomer to the EV market, Scout has the advantage of learning from the mistakes of other companies that made big bets on electrification, only to walk back their EV ambitions amid slower-than-expected sales.

The stark disparity between how prediction markets and political analysts view the 2024 presidential election is casting a spotlight on an increasingly influential but still poorly understood force in politics: betting.

Why it matters: Prediction markets — like Kalshi, PredictIt and Polymarket — give Donald Trump a much better shot to win the U.S. presidency, leading some observers to suggest that if Kamala Harris prevails, it will represent a failure of the market's predictive power.

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.