Axios Media Bias

Economic fallout of Dobbs ruling will hurt poor women most

Law

Data: Axios research; Cartogram: Sara Wise and Oriana Gonzalez/AxiosLower-income women will likely bear the brunt of Friday's U.S. Supreme Court ruling overturning the constitutional right to an abortion.Why it matters: Though it may seem solely personal and political, abortion access is also an economic issue for women in the U.S., where they often face a steep wage and career penalty for becoming mothers.In its majority opinion, the court did not substantively address any of the economic arguments in favor of keeping abortion legal — though these points garnered much attention in recent months.Instead, the court said the notion that women need abortion access to participate equally in the economic and social life of the nation —as held in Roe and Planned Parenthood v. Casey — was "intangible."In their dissent, Justices Sonia Sotomayor, Stephen Breyer and Elena Kagan dispute that. "Above all others, women lacking financial resources will suffer from today’s decision," they write.State of play: About 100,000 women who want abortions over the next year will likely not be able to get one due to financial and logistical constraints, Caitlin Knowles Myers, an economist at Middlebury C...
Axios     Jun 27, 2022

Subpoenas issued to directors of SPAC taking Trump's social network public

tech

A federal grand jury in New York has issued subpoenas to each board director of the blank check company that has agreed to take Donald Trump's social media startup, Truth Social, public. Why it matters: This is in addition to previously disclosed investigations into the blank-check company by both the SEC and Justice Department, thus intensifying questions about Truth Social's financial future.Details: Digital World Acquisition Corp. on Monday disclosed the subpoenas, adding that some of the information requested were about communications with a Miami-based investment firm called Rocket One Capital. It also said the Bruce Garelick, chief strategy officer at Rocket One, is resigning from Digital World Acquisition's board of directors.By the numbers: Trump currently has 3.37 million followers on Truth Social, a far cry from the 88.7 million followers he had on Twitter before being banned in early 2021. It's worth noting, however, that Truth Social remains unavailable for Android users.What they're saying: Trump Media Technology Group, the parent company of Truth Social, this morning issued the following statement: "TMTG is focused on reclaiming the American people's right to free exp...
Axios     Jun 27, 2022

Democrats bet on Roe's ballot power ahead of midterms

Reproductive Health

Democrats are grabbing the Roe reversal as a lifeline ahead of November's midterms. Republicans want to keep talking about inflation.Why it matters: This is an unusual case where the losing side wants to talk all about it. The winning side wants the spotlight elsewhere.Axios got a first look at websites that Democrats' House and Senate campaign arms launched Monday — less than 72 hours after the Supreme Court ruling — blasting GOP candidates' abortion records.Democrats see it as a mobilizing issue for suburban women in swing House districts across the country.The House Democratic (DCCC) site is called "Extreme GOP."The Senate Democrats' (DSCC) site is: "This is the GOP on Abortion."Republicans know the issue could hurt them with those very same voters, so they will try to keep slamming President Biden on pocketbook issues, Axios' Lachlan Markay reports.Samantha Bullock of the House Republicans' campaign arm (NRCC) said: "This ruling does nothing to change the fact that voters' top concerns are rising prices, soaring crime, and the disaster at the southern border."Two polls released in the past 24 hours give Democrats hope the issue will move voters.A CBS News/YouGov poll of 1,591 a...
Axios     Jun 27, 2022

Almost everyone works from home — if they can

American workers really, really want pandemic-era work flexibility to stick around, a new McKinsey survey reveals.Why it matters: Offering remote or hybrid work is turning into table stakes for attracting high-skilled talent.Some of the survey's most interesting findings include
Axios     Jun 27, 2022

Tesla's in the lead as U.S. electric car sales get supercharged

Industries

Data: S&P Global Mobility (formerly IHS Markit); Chart: Baidi Wang/AxiosTesla's grip on the growing U.S. electric vehicle (EV) market remains strong despite an onslaught of new plug-in models from competitors.Why it matters: The Elon Musk-led automaker pioneered the EV movement more than a decade ago, but only now is U.S. demand starting to take off.EV registrations have doubled over the past year, to about 5% of all new cars, and shoppers have dozens of new choices, with many more on the way.What's happening: The historic shift away from gasoline will take years to play out, but Axios is tracking the revolution as it rolls across the U.S., using monthly vehicle registration data from S&P Global Mobility.California has by far the largest market today, but EV adoption is also growing in some large cities in the Northeast, Florida and Texas. EV ownership remains limited in the Midwest.Each of our Axios Local newsletters will monitor EV adoption in their hometown, and take note of the most popular models among their neighbors.Over time, we'll be able to track the EV wave as it spreads across the country, and we'll be watching to see whether Tesla's market share declines as expected as...
Axios     Jun 27, 2022

Sanctions drive Russia to first foreign debt default since 1918

Law

Russia is set to default on its foreign-currency sovereign debt after bond holders reported the Kremlin missed two payments late Sunday, per the Wall Street Journal.Why it matters: This is the foreseeable outcome of sanctions imposed due to the invasion of Ukraine, even though Russia had successfully pushed off the inevitable for months. For now, the default is mostly notable for its symbolism as Russia's first foreign debt default since 1918, reflecting the country's international pariah status and crumbling economy.Our thought bubble, via Axios' Felix Salmon: Bond defaults normally happen because the issuer doesn't want to make the payment. In this case, Russia was clearly willing to do so; it just wasn't able to. The big picture: Russia hasn't defaulted on international debts since the Bolshevik Revolution, though it defaulted on domestic debt during a financial crash in 1998.Russian officials have struggled with payments on $40 billion of outstanding bonds since the U.S. and allies moved to impose sanctions on the country after Putin's forces launched their invasion last February.Russia's President Vladimir Putin signed a decree last week for a temporary measure giving the gov...
Axios     Jun 27, 2022