As many as 2,000 fired federal probationary workers who filed complaints with the Office of Special Counsel have had their cases dismissed as lacking merit, a source familiar with the dismissals tells Axios.
Why it matters: These workers are among the tens of thousands caught in limbo after being fired — followed by a series of court rulings reinstating them, and then staying those reinstatements.
Chipotle Mexican Grill says it's going to its "homeland" with plans to open its first restaurant in Mexico by early 2026.
Why it matters: It's a move that didn't pan out for competitor Taco Bell when it went south of the border into Mexico or when Domino's opened pizza restaurants in Italy.
With the U.S. economy shifting toward stagflation, the central question for the Federal Reserve will be which half gets worse: the stag- or the -flation.
Why it matters: The central bank faces challenges on both sides of its dual mandate — the responsibility to seek both stable prices and maximum employment.
Fed officials say they will assess on which side of the mandate they are most coming up short.
Phillips 66 on Monday went on the attack against Elliott Investment Management, which has been pushing the Houston-based oil refiner to sell or spin off its midstream business.
State of play: In a shareholder letter, Phillips 66 accuses Elliott of being conflicted, because an Elliott portfolio company is simultaneously bidding for Phillips 66 competitor Citgo.
The Internal Revenue Service — the agency with which you share some of your most personal information, and to which you remit a very large chunk of your paycheck — has had a torrid few months.
Why it matters: For such a crucial component of government machinery, it has been hard to tell who, if anybody, is in charge.
Why it matters: The sticker shock is leading some consumers to break traditions, like dyeing eggs, and driving them to swap ingredients in holiday meals.
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