Toyota says it will move production of the Tacoma pickup truck to the United States from Mexico as part of a $3.6 billion investment in its San Antonio, Texas, manufacturing campus.
Why it matters: The move allows the Japanese carmaker to sidestep uncertainty regarding U.S. trade policy with Mexico and Canada, and will no doubt please the Trump administration, which has been pressuring automakers to build more vehicles in the United States.
Microsoft is cutting 3,200 Xbox gaming unit jobs, selling four game studios and reshaping the struggling business as part of a broader restructuring announced Monday.
Why it matters: The restructuring underscores the pressure on Microsoft to improve Xbox's profitability amid the broader company's massive shift to AI and related spending.
Changes to the methodology underneath the Federal Reserve's go-to inflation measure are on track to make the numbers look a couple of ticks better later this year.
Why it matters: The changes are entirely defensible on technical grounds and should make the Personal Consumption Expenditures Price Index better able to mirror overall price dynamics over time.
But coming at a fraught moment — when the independence of statistical agencies has been attacked and the Fed has overshot its inflation target for half a decade — the optics aren't great.
America's services sectorremained in expansionary territory in June, with the two biggest business surveys pointing to resilient demand and easing inflation — although also sending conflicting signals on employment.
The AI data-center buildout is apparent as both a source of activity and new supply-chain strains among businesses in the service sector.
South Korean securities regulators are reviewing disciplinary measures against MBK Partners, the country's largest private equity firm, over its ownership of retailer Homeplus.
Why it matters: South Korea is at a crossroads when it comes to private equity investment, as first evidenced by the Coupang situation.
Lockheed Martin on Monday said it has agreed to acquire naval defense-tech firm Ultra Maritime for $3.45 billion from private equity firm Advent International.
Why it matters: The Strait of Hormuz situation has escalated demand for underseas autonomous weapons, both offensive and defensive.
The GOP budget law that President Trump signed a year ago has darkened the outlook for several clean energy sources, but stopped far short of strangling low-carbon tech.
Why it matters: It's part of a broader attack on Biden-era climate policies, along with Trump's executive moves to kill regulations and slow permitting of renewables projects.
The stock market's record-breaking run paused in June, but retail investors kept on the gas, new data from Charles Schwab shared exclusively with Axios shows.
Why it matters: The monthly report shows that retail investors continue to buy dips in the market and favor tech stocks even as worries about an AI bubble persist.
Memory chipmakers are raking in record profits with no end in sight. That may be a problem.
Why it matters: Shares of Micron Technology, Sandisk and the like have helped carry the market over the last year, as seemingly inexhaustible demand from the AI boom pushed profitability to unprecedented levels.
