Axios

Foreign automakers are stumbling as the Trump administration's trade war delivers a bruising blow and Chinese automakers bear down.

Why it matters: Much of the U.S. conversation over the impact of auto tariffs has centered on Detroit's Big Three — but the blast zone extends far beyond General Motors, Ford and Stellantis.

The Trump administration is harnessing military purchase power in some of its most aggressive attempts to stem or even reverse coal-fired electricity's decline.

Why it matters: Surging electricity demand and fresh White House support could provide a lifeline to the most CO2-heavy power source.

The counter-drone weapon that caused a shutdown of El Paso's airspace on Wednesday was AeroVironment's LOCUST, a 20-kilowatt laser system, Axios has confirmed.

Why it matters: The Army sees the cutting-edge weapon as a way to combat drones without firing expensive interceptors. But the Federal Aviation Administration was so concerned about its use that it shut down the airspace around a major city for nearly eight hours.

Gail Slater on Thursday said she is leaving the Justice Department, where she led the antitrust division.

Why it matters: This is being viewed as a victory for big business, including tech giants, over some of MAGA's more populist voices.

Usually, when the economy grows, so does employment in the kinds of office jobs that form the backbone of modern corporate life. It hasn't been true lately, and that may solve a key mystery of the 2020s' economy.

The big picture: While overall employment trends have been steady, companies have successfully squeezed more out of a falling number of workers in the sectors that are the major sources of white-collar office jobs.

Existing home sales posted their largest monthly sales decline in four years despite increasing affordability.

Why it matters: The slump in sales underscores a disconnect in the housing market: Buying conditions are improving on paper, but constrained supply and broader economic uncertainty may be weighing on demand.

Forget K-shaped, try gray-shaped: Older Americans are powering the economy.

Why it matters: The changing demographics in the U.S. — more old people, fewer young ones — are reshaping jobs and spending in all kinds of ways.

The latest: Nearly all of the job growth in January came from the health care and social assistance sectors, per the BLS data out Wednesday. Health care employment also drove much of the labor market growth last year.

How it works: "As the population ages, you need more doctors and nurses, but you also need more health aides. You need more nursing home staff," says Daniel Zhao, chief economist at Glassdoor.

• As people have fewer children, there are also fewer younger Americans available to do free care work for their elders.

The intrigue: Health-care hiring appeared to be slowing last year, says Neale Mahoney, an economist at Stanford. The rapid growth in January calls that assumption into question — though it's just one data point.

The big picture: The senior population is getting bigger as a share of the overall population. They're also getting richer.

• "From higher home prices and, more recently, surging stock prices [older Americans] are driving the train, there's no doubt about it," says Mark Zandi, chief economist at Moody's Analytics.

By the numbers: About 30% of Americans were age 55 and older in 2024 — two decades ago, they made up less than one-quarter of the population.

• More than 70% of all the wealth in the country is held by those over 55, per Federal Reserve data.
• They're spending a lot of money. More than 45% of consumer spending now comes from those age 55 and older — up from less than 40% in 2020, per federal data crunched by Moody's Analytics.

Between the lines: The changing demographics help explain all kinds of new businesses and marketing trends: longevity startups, the boom in menopause companies, among them.

• You can see this not only in health-care employment, but also in travel and the financial services sectors, Zandi says.

💬 Emily's thought bubble: It's why you saw 53-year-old actress Sofia Vergara advertise Skechers Hands Free Slip-ins during the Super Bowl.

• (You can put them on without bending down — a feature coveted by those with aching backs.)

Yes, but: An aging population also creates all kinds of economic headaches: labor shortages, housing and small-business woes.

• In Japan, it has meant a surge in abandoned homes and a succession crisis for small businesses.

The bottom line: Perhaps an AARP card is the hot new ticket to economic prosperity.

Here's what's new on Netflix, Hulu, Tubi, Prime Video, Peacock, Paramount+ and HBO Max.

What we're watching: A new season of "Love Is Blind," a series about the romance between the late John F. Kennedy Jr. and Carolyn Bessette and a new YA rom-com.

President Trump was awarded the "Undisputed Champion of Beautiful Clean Coal" trophy during a White House event on his latest fossil fuel drive Wednesday.

The big picture: The award that Peabody Energy executive Jim Grech gave Trump at the event celebrating Trump's signing of an order directing the Pentagon to procure electricity from coal-fired power plants is the latest in a series of prizes bestowed on the president during his second term.

Senators emerged from a Wednesday evening briefing from FAA administrator Bryan Bedford demanding more information — and a classified briefing — on what led to the airspace closure in El Paso, Texas.

Why it matters: The closure stemmed from a dispute between the FAA and the Pentagon on the safety of testing anti-drone technology, a source told Axios.

McDonald's extended its U.S. sales streak to three quarters — turning in broad-based growth as its value push resonates with price-conscious diners.

Why it matters: The earnings reported Wednesday suggest the fast-food giant is sustaining traffic while navigating the industry's core tension: keeping prices competitive without sacrificing margins.

Winter storms have disrupted USPS mail delivery in several cities, causing days-long delays — and in some neighborhoods, weeklong gaps — even after roads have cleared.

Why it matters: The disruptions have left residents waiting on medications, tax documents and checks — highlighting the challenges of restoring full service after major storms.

The Trump administration is blaming a "cartel drone incursion" for the sudden closure of the airspace around El Paso, Texas on Wednesday, though sources also pointed to miscommunication between the military and Federal Aviation Administration as a factor in the decision.

Why it matters: Residents of El Paso woke up to the news that local airspace would be closed for 10 days, a duration unprecedented in any U.S. city since 9/11. No explanation was offered until the order was reversed eight hours later, an information vacuum that was filled by frenzied speculation.

Uber's CEO says the introduction of robotaxis will be good for its business, not the death knell that some investors fear.

Why it matters: Fifteen years ago, Uber was transportation's Great Disruptor. Now the ride-hailing company itself is in danger of losing ground to competitors like Waymo and Tesla as robotaxis expand across America.

The labor market kicked off 2026 with a bang: Job creation surged, and joblessness ticked down. But 2025 was slower than we thought.

Why it matters: It points to the possibility that 2025 was the low point for job creation and that a more stable environment in January could signal stabilization or even a hiring pickup in the months ahead.

The Federal Aviation Administration's abrupt announcement it was closing El Paso's airspace for 10 days sent its airport into chaos and diverted medical emergency flights, Mayor Renard Johnson said Wednesday.

Why it matters: The roughly 8-hour closure sparked alarm among El Paso residents and left political leaders fuming about the lack of communication from the feds.

House Democrats are already planning to force votes overturning at least two of President Trump's tariffs, with more likely to follow, senior lawmakers tell Axios.

Why it matters: House Speaker Mike Johnson (R-La.) has repeatedly blocked these votes over the past year, but his attempt to do so on Tuesday was thwarted by a trio of Republican defectors in a late-night vote.

U.S. budget deficits are set to remain high in the coming decade, the Congressional Budget Office said Wednesday, as a surge in tariff revenue only partly offsets lost revenue from last year's tax legislation.

Why it matters: The U.S. government is spending much more than it raises, with annual deficits on track to remain near $2 trillion, or 6% of GDP, in the years ahead — even in the absence of a recession, war or other crisis.

The Federal Aviation Administration reopened the airspace over El Paso, Texas, Wednesday after abruptly closing it earlier in the morning.

Why it matters: The closure would have prevented any flights in and out of the local airport for 10 days, creating massive travel disruptions.

Warner Bros. Discovery is under new pressure this morning to switch horses from Netflix to Paramount, although it still appears to be waiting for a price sweetener.

Driving the news: Activist investor Ancora Partners disclosed around a $200 million stake and argued that the Paramount bid provides more price and regulatory certainty.

Three more Coupang investors on Wednesday joined the lawsuit against South Korea's government, arguing that it acted unlawfully against the e-commerce firm.

Why it matters: This is becoming a flashpoint in U.S.-South Korea relations, and could impact U.S. investment in South Korean companies.

The U.S. economy added a whopping 130,000 jobs in January, while the unemployment rate ticked down to 4.3%, the Labor Department said on Wednesday.

Why it matters: The surprisingly robust hiring comes after months of tepid job gains that have heightened Americans' economic worries.

The Milan Cortina games are handing out the priciest Olympic medals in over a century — and athletes are already breaking them.

Why it matters: Athletes typically value medals for prestige, not price, but soaring precious-metal costs have made the sometimes-faulty 2026 medals especially costly.

The reelection of Japan's popular prime minister, Sanae Takaichi, earlier this week pushed the country's long-languishing stock market to new heights.

Why it matters: The Nikkei is just one of the foreign stock indexes beating the major U.S. benchmarks this year — as investors "Sell America" and look to buy elsewhere in the world.

Uber is rolling out a new AI-powered assistant in Uber Eats that builds grocery carts from text or image prompts — automating a traditionally time-consuming task.

Why it matters: Grocery shopping is emerging as a proving ground for AI assistants that move beyond recommendations into planning and execution, a step toward more agentic AI.

A 10-mile ring of airspace centered on El Paso, Texas, is effectively closed to aircraft for the next 10 days after the Federal Aviation Administration issued a surprise restriction late Tuesday night for "special security reasons."

Why it matters: The temporary flight restriction, or TFR, includes the airspace over El Paso International Airport, effectively shutting down the city's main aviation link.

Valentine's Day shoppers, take note: Champagne and cream-colored diamonds are having a moment.

Why it matters: As lab-grown diamonds make large, bright white stones more accessible, consumers are finding appeal in stones once considered imperfect.

The United States is experiencing an investment boom from AI and the infrastructure that makes it possible — but much of those economic gains aren't reaching workers.

Why it matters: Job openings have become scarce and workers' wages are no longer rising that rapidly.

A group of Republicans staged a rebellion on the House floor Tuesday night over leadership's move to block members from challenging President Trump's tariffs, defeating a measure that would have reinstated the ban.

Why it matters: With the election nine months away and economic issues looming large, some House Republicans are becoming increasingly uneasy about defending Trump's tariffs — and continuing to cede their constitutional authority over trade.