Axios Markets

June 17, 2025
💻 Good morning! Does it feel like you can never get much done because something is always taking your attention? You're not alone. We have the details of some startling new research on workplace distractions.
- Plus: Retail was under enough pressure, but then came the cyberattacks, and the hottest market right now is ticket resale.
🛢️ Situational awareness: Financial markets remain jittery this morning, after President Trump abruptly left the G7 meeting last night and suggested evacuating Tehran amid the conflict there. Oil futures rose 1.3%, while stocks were lower globally. Go deeper.
All in 1,020 words, a 4-minute read.
1 big thing: Welcome to the "infinite workday"
Working 9 to 5 was once a way to make a living, in the parlance of Dolly Parton, but the workday today? It never ends.
Why it matters: That was the startling finding of a report out today from Microsoft on the "infinite workday," which starts before many knowledge workers get out of bed, ends late at night and stretches into the weekend.
- "The modern workday for many has no clear start or finish," write the authors of the Work Trend Index Special Report, which looked at anonymized data from millions of global users of Microsoft 365's productivity apps like Outlook, Teams, PowerPoint, etc.
By the numbers: It's difficult to stay focused during formal business hours. Knowledge workers are interrupted by a ping from an app — such as email, calendar or messaging — every 1.75 minutes, or 275 times, during the official eight-hour work day, finds the analysis, which looked at data from 12-month period ending February 2025.
- Meanwhile, as workers are more distributed around the country and world, thanks to the rise of remote work, one in five meetings are now happening outside "regular" work hours.
- Meetings after 8 p.m. are up 16% from last year, and the average employee now sends or receives 50 or more messages outside of core business hours.
- These folks aren't sleeping in come the morning, either. A "broad base" of workers are up at 6 a.m. working, says Colette Stallbaumer, cofounder of Microsoft WorkLab and the general manager for Microsoft 365 Copilot.
Zoom in: A lot work happens on the fly, according to the authors. 57% of meetings are ad hoc calls without a calendar invite and 1 in 10 scheduled meetings are booked at the last minute.
- "For many, the workday now feels like navigating chaos — reacting to others' priorities and losing focus on what matters most," they write.
The big picture: Even as more companies are pushing people back to the office, the rise of remote work has normalized working around the clock wherever you are.
- "People are figuring out how to do their job and work when it works best for them," Stallbaumer says. That may mean employees hop back online in the evening after putting kids to bed or catch up on the weekend.
- The downside of such "flexibility" is that the workday never ends.
💭 Our thought bubble: The inability to unplug is a surefire way to burn out a workforce.
The bottom line: Microsoft argues that artificial intelligence can offset some of this work, but so far it doesn't seem to be making a dent.
2. Cyberattacks hit retailers at the worst time
Cyberattacks are the latest crisis for U.S. retailers as they continue to weather tariff uncertainties and labor strife.
Why it matters: Consumers are already feeling the squeeze from high prices and patchy inventory.
- And now, cyberattacks are adding yet another cost driver — both operationally and optically — for businesses trying to stay afloat.
Driving the news: United Natural Foods, a major U.S. grocery supplier, has been battling an apparent cyberattack since June 6.
- The incident led to product shortages at Whole Foods and other grocery stores across the country. In a statement on Sunday, the company said it "made significant progress toward safely restoring our electronic ordering systems," allowing it to start receiving and delivering products to grocery store customers again.
State of play: The breach is the latest in a string of cyber incidents hitting American retailers.
- In recent weeks, Victoria's Secret, North Face, and Cartier were each targeted in separate cyberattacks. Victoria's Secret had to shut down its online store for a full day.
- Google warned last month that Scattered Spider — a group of teen hackers in the U.S. and U.K. with no clear links to any nation-state — had its sights set on American retailers after a similar spree in the U.K.
- None of the affected retailers have disclosed who may be responsible.
The big picture: Retailers are navigating a perfect storm of economic and logistical headwinds.
- Trade policy uncertainty, particularly around tariffs, is forcing tough choices around pricing and supply chains.
Threat level: Retailers are increasingly vulnerable to sophisticated and multipronged cyberattacks, from data breaches to extortion schemes to deepfake scams.
- These attacks often combine social engineering, data theft and ransom demands, with some aimed purely at disrupting operations rather than stealing customer data.
- In 2024, the average cost of a data breach in the retail sector was $3.48 million, an 18% increase from the year before, per IBM. That figure covers the costs of the full fallout from any cyberattack that resulted in data theft, including system recovery, lost business and customer notification costs.
- Fraud targeting retailers also doubled last year, fueled by the growing use of AI-generated audio deepfakes, according to recent data from Pindrop.
- "Right now the retail sector is under acute pressure from a number of actors who are disrupting operations and extorting businesses," John Hultquist, chief analyst at Google Threat Intelligence Group, tells Axios.
- "If they haven't already, retailers should be taking a hard look at their defenses, especially against social engineering attacks," he adds.
What to watch: It remains unclear who is behind the latest wave of cyberattacks or what vulnerabilities are being exploited.
3. The hottest market is concert resale tickets


Stadium tours are hot right now, up 60% from last year, creating a boom in the ticket resale market.
Why it matters: The consumer is the engine of the economy, and everyone's looking for positive signs amid all the geopolitical drama.
- To the surprise of some, Beyoncé isn't leading the demand this summer.
State of play: The price of concert resale tickets to watch Gracie Abrams, Lady Gaga and Coldplay perform this summer are higher on average than Queen B, according to data from SeatGeek.
Flashback: Beyoncé's last tour, "Renaissance," was among the top 10 highest grossing tours of all time.
The intrigue: "Cowboy Carter" also ranks fourth in average sold price among country tours in 2025, according to data from Vivid Seats.
- Alan Jackson, Garth Brooks and Morgan Wallen are ahead.
What's next: Beyoncé returns stateside June 28 to finish her tour in Houston, Washington, Atlanta and Las Vegas.
Thanks to Ben Berkowitz for editing and Anjelica Tan for copy editing. See you tomorrow!
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