Tesla has pocketed $11 billion from the sale of regulatory credits to rival automakers needing help to hit tough emissions targets — easy money that could dry up if President-elect Trump rolls back Biden-era regulations.
Why it matters: Tesla's billionaire CEO, Elon Musk, is spearheading Trump's effort to cut government red tape.
Risk experts believe the insured losses from the Los Angeles wildfires will easily top $20 billion, but in some ways that's only the start of the crisis California now faces.
Why it matters: Anything above $12.5 billion would pass 2018's Camp Fire to become the largest insured wildfire loss ever, per data from insurance broker Aon. Economic losses will be substantially higher, perhaps tens of billions of dollars more.
As the Los Angeles fires continue to burn, Axios spoke with Bill Clerico, former fintech CEO who in 2022 Convective Capital to invest in wildfire tech startups.
What follows is an edited transcrtipt of the conversation:
The Honda Civic hybrid, Ford Ranger and Volkswagen ID. Buzz are the winners of the 2025 North American Car, Truck & Utility of the Year awards.
Why it matters: The selection of a hybrid sedan, a gasoline pickup truck and an electric minivan as the industry's best vehicles offers proof that consumers have a multitude of choices when it comes to car buying.
The U.S. economy added 256,000 jobs in the final month of 2024, while the unemployment rate ticked down to 4.1%, the Labor Department said on Friday.
Why it matters: Hiring unexpectedly roared in December, capping a year of resilient labor market conditions that defied naysayers and kept the economy humming.
Office vacancies hit a new high last year, with 20.4% of office space in the country's top 50 metro areas empty, per Moody's latest tally.
Why it matters: Though the return to office push picked up momentum last year, plenty of workers are in hybrid or remote setups, and employers don't quite need as much office space as before 2020.
