Eve Air Mobility, backed by Embraer, plans to land certification for its electric vertical takeoff and landing aircraft by December 2028.
Why it matters: With one of the world's largest aircraft manufacturers in its corner, Eve has a potentially significant advantage in the race to commercialize electric air taxis.
The IPO boom is turning into a windfall for Morgan Stanley's wealth management business as newly public companies create a fresh wave of rich clients.
Why it matters: While Wall Street banks make money from underwriting IPOs, they can also score big by managing the newfound wealth of founders, executives and employees after their companies go public.
Netflix plans to lay off 6% of its global workforce, or roughly 1,000 employees, in an effort to better position itself for future investments, its co-CEOs told employees Wednesday.
Why it matters: Co-CEO Ted Sarandos acknowledged last month in a Bloomberg interview that the company is not growing as fast as he would like.
Venture capital firm Andreessen Horowitz has laid off the majority of a 34-person team that helps portfolio companies recruit talent, Axios has learned from multiple sources.
Why it matters: Andreessen Horowitz is one of the largest and most active investors in Silicon Valley, and this is one of the key "value-add" services that it markets to tech founders.
France is grappling with a barrage of crises right now, including destructive fires in Paris, hackers rattling supermarkets, widespread student protests and a significant national debt.
Why it matters: The chaos in France comes as the country faces pressures also affecting the U.S. — rising costs from the Iran war and a ballooning national deficit ahead of an election.
America's inflation problem is becoming harder to contain, with new evidence Wednesday that price pressures are extending beyond the war-related energy shock rattling the global economy.
Why it matters: Inflation is squeezing household budgets and dimming hopes for relief. It is also increasing the prospect that the Fed will have to raise interest rates further.
The big question is ... do you believe it can fly?
State of play: Elon Musk is expected to reveal the long-awaited Tesla Roadster at an event Thursday in Texas, about nine years after first teasing that it will use rocket technology to lift off the ground in some capacity.
Americans are getting married slightly more often than before the pandemic, while the U.S. divorce rate continues its decades-long slide.
Why it matters: Fewer Americans are marrying than a generation ago. But those who do increasingly come from groups whose marriages are more likely to last.
Social Security recipients will see the largest rise in their monthly payments in four years in January, with a 3.6% cost-of-living adjustment.
Driving the news: The Social Security Administration announced the 2027 COLA adjustment for 76 million recipients of retirement and disability benefits, which by law is calculated based on the Consumer Price Index for the July-through-September quarter.
U.S. inflation picked up in September as soaring energy prices added to already stubborn price pressures, the Labor Department said on Wednesday.
Why it matters: The latest Consumer Price Index shows that the inflation fight is far from over — and makes further Federal Reserve interest rate hikes more likely as Americans struggle with higher costs.
Investment into AI is taking up a lot of the oxygen in the U.S. markets, and Wall Street's worries over its crowding-out effect appear to be spreading.
Why it matters: The surge of money flooding into this one sector is helping drive up borrowing costs for everyone — from the U.S. government to non-AI businesses to everyday Americans who face ever-higher rates for mortgages and auto loans.
