Axios

It was a good year for AI-linked companies in 2024, as they led the stock market with eye-watering returns.

• Execution problems plagued some well-known businesses, though, causing their shares to sink.

Why it matters: Those AI names helped the S&P 500 to its best two-year gain since the dot-com bubble of the late 1990s.

DroneUp, which partnered with Walmart in 2021 for drone deliveries in multiple cities, said its contract with the retailer has ended.

Why it matters: The news comes less than a month after DroneUp received FAA certification to expand its commercial operations.

What they're saying: "We value the lessons learned while working together and will apply those learnings to our operations in the future," the company said in a statement.

• "As of today, our contract and operations together have come to an end."
• Walmart said it's no longer an investor in DroneUp, adding it was "excited about the momentum and positive customer response we've experienced around drone delivery" and would continue tests in the Dallas area.

Catch up quick: Walmart invested in DroneUp in 2021 after running trials with the company on Covid test kit deliveries.

• The companies launched what were billed as large-scale drone deliveries in early 2022.
• In August DroneUp shut down Walmart delivery operations in most markets except Dallas, telling Axios the model wasn't sustainable at the current costs.

What's next: A DroneUp spokesman said the company remains in business with ongoing staff, but declined to comment about layoffs in Dallas.

• Walmart already said earlier this year it was moving forward with drone deliveries with other partners.

Editor's note: This story has been updated with Walmart's statement.

The National Football League's biggest rule change in 2024 was about ownership, not kickoffs, as it allowed private equity into the ranks.

The big picture: NFL clubs have become too valuable for most billionaires to buy on their own.

Major energy companies doubled down on oil and gas in 2024, slowing down — and at times reversing — climate commitments, in a shift they're likely to stick with in 2025.

Why it matters: Big European energy companies that invested heavily in the clean energy transition found their stocks lagging U.S. rivals Exxon and Chevron, which kept their focus on oil and gas, Reuters reports.

Social Security retirement and disability benefits for 2025 will start to roll out for millions of Americans as early as Tuesday and throughout January.

Why it matters: Benefits increase by 2.5% and about $50 a month but it's the lowest benefit increase in recent years.

Financial markets will be largely — but not entirely — closed for the National Day of Mourning for Jimmy Carter on Thursday, Jan. 9.

State of play: Markets typically close on such days, as they did in December 2018 for the funeral of President George H.W. Bush.

With all the excitement bitcoin has generated this year, a lot of new crypto investors have made nice gains — now it's times to think about the tax bill.

Why it matters: One price the industry has paid by going mainstream is greater scrutiny from revenue authorities.

Big questions loom over yesterday's crash that killed all but two of the 181 people aboard a South Korean jetliner.

The big picture: Video shows the Jeju Air Boeing 737-800 suffering an apparent bird strike, then attempting a belly landing before skidding down the runway into an antenna atop a small hill and exploding.

Millions of workers are getting a raise on Jan. 1, when the minimum wage is set to rise across 21 states, and 48 cities and counties.

Why it matters: The increases lift the pay of more than 9.2 million people, per the Economic Policy Institute's tally.

Authorities in Kazakhstan are investigating the cause of an Azerbaijan Airlines plane crash in the country, which killed 38 people and injured 29 others on Christmas Day.

The big picture: Flight J2-8243 was diverted while en route from Baku, Azerbaijan's capital, to Grozny in southern Russia.

Azerbaijan has demanded that Russia admit its guilt over a Christmas Day plane crash that killed 38 people, the country's President Ilham Aliyev said on Sunday.

The big picture: Russian President Vladimir Putin apologized to Aliyev for the Azerbaijan Airlines crash occurring in Russian airspace, but a Kremlin statement made clear he wasn't accepting responsibility for the incident.