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Bryan Walsh, author of Future
5 hours ago - Health

Testing our way around the Delta surge

Illustration: Aïda Amer/Axios

The recent surge of COVID-19 cases is strengthening the case for more frequent testing.

Why it matters: The more contagious Delta variant threatens the fuller reopening of offices and schools in the fall. But regular testing — especially with cheap and almost instantaneous tests — could help catch cases before they have a chance to spread.

Olympic athletes see more sponsorship opportunities

Illustration: Sarah Grillo/Axios

Tokyo 2020 athletes are cashing in on more personal sponsorship opportunities compared with past Games.

Why it matters: Marketing deals are an important income stream for competitors, nearly 60% of whom say they are not financially stable. 

Subscribe to Axios Sports
Catch up quick on the Olympics every weekday with Axios Sports. Sign up for free.
Dan Primack, author of Pro Rata
58 mins ago - Economy & Business

The mental health deal boom

Illustration: Sarah Grillo/Axios

The positive social media response to Simone Biles withdrawing from Olympic competition highlights how the artificial line between health care and mental health care is finally beginning to dissolve. And startup investors have taken notice.

By the numbers: Venture capital investments in mental health startups rose 72.6% between Q1 2020 and Q1 2021, per CB Insights.

U.S. economy grew at a 6.5% rate last quarter, missing expectations

Contractors work on a home under construction. (Photo: Micah Green/Bloomberg via Getty Images)

The U.S. economy grew at an annualized 6.5% rate last quarter, the government said Thursday — slower than the 8.4% economists expected.

Why it matters: It came as the economy made strides toward further reopening, vaccinations rolled out and government stimulus bolstered spending. But supply crunches held the pace of growth back.

2 hours ago - Sports

U.S. gymnast Suni Lee wins Olympic gold in individual all-around

Suni Lee Photo: Jamie Squire/Getty Images

U.S. gymnast Sunisa "Suni" Lee won Olympic gold on Thursday in the individual all-around event.

The big picture: Simone Biles, who withdrew from the event to focus on her mental health, cheered from the stands with the rest of the women's gymnastics team as they watched Lee and teammate Jade Carey compete. Brazil's Rebeca Andrade won the silver and Russian Angelina Melnikova took the bronze.

Updated 4 hours ago - Sports

Olympics dashboard

Team USA's Simone Biles during the women's team final on day four of the Tokyo 2020 Olympic Games at Ariake Gymnastics Centre on Tuesday in Japan. Photo: Fred Lee/Getty Images

🤸🏾‍♀️: Simone Biles reacts to "love and support" after withdrawing from all-around gymnastics and team finals, citing her mental health

🏃: U.S. pole vaulter Sam Kendricks withdraws from Games after positive coronavirus test

🏊‍♂️: Caeleb Dressel wins gold in men's 100m freestyle —Bobby Finke wins gold in first men's Olympic 800m freestyle

📷: In photos: Tokyo Olympics day 6 highlights

🗓: The Olympic events to watch today

💵: Olympic athletes see more sponsorship opportunities

🏃‍: Female Olympians push back against double standard in uniforms

Go deeper: Full Axios coverage - Medal tracker

Felix Salmon, author of Capital
4 hours ago - Economy & Business

Giant earnings growth for the world's largest companies

Illustration: Aïda Amer/Axios

Never in the history of capitalism have the world's biggest companies grown as fast as the tech giants in recent years.

Why it matters: A series of stunning earnings reports this week — with another one likely to arrive Thursday afternoon, from Amazon — has underscored the astonishing growth among a group of companies that were already some of the most profitable of all time.

Biden administration outlines goals to slow migration

Vice President Kamala Harris speaks during a press conference in Guatemala City on June 7. Photo: Jim Watson/AFP via Getty Images

Vice President Kamala Harris has big goals for improving conditions in Central America to help slow migration from the region toward the United States.

Driving the news: Senior administration officials unveiled five sweeping goals during a call on Wednesday: Bettering economic prospects; rooting out corruption; promoting human rights, labor rights, and a free press; preventing gang violence; and combating sexual, gender-based and domestic violence.

5 hours ago - Technology

Ad boom rains billions on Big Tech

Data: Company filings; Chart: Axios Visuals

Advertising growth was the chief driver of tech's blowout quarter, as the economy snapped back from the pandemic and a long-term shift to digital went into overdrive.

By the numbers: Facebook, Snapchat, Twitter, LinkedIn, YouTube and Google all posted record ad revenue growth rates in earnings reports for 2021's second quarter.

Updated 5 hours ago - Sports

The Olympic events to watch today

Suni Lee on the uneven bars during the women's gymnastics team final. Photo: Berengui/DeFodi Images via Getty Images

5 events to watch today...
  • 🤸‍♀️ Women's gymnastics: Team USA’s Suni Lee and Jade Carey will compete in the individual all-around. Carey replaces Simone Biles, who pulled out of the event for mental health reasons. Coverage starts at 6:50 a.m. ET on nbcolympics.com (watch the replay at 8 p.m. ET on NBC).
  • 🏐 Women’s volleyball: The women’s team, who is 2-0 in pool play, will meet Turkey at 8:45 a.m. ET on USA Network.
  • 🏊 Swimming: Finals in the women’s 200m breaststroke and 100m freestyle, as well as the men’s 200m backstroke and 200m individual medley. Coverage starts at 9:30 p.m. ET on NBC.
  • 🚲 BMX racing: Live coverage of the men and women’s semifinals and finals starts at 10 p.m. ET on CNBC.
  • 🏃‍♀️ Track and field: Round 1 of the women’s 100m race begins at 11:15 p.m. on NBC.
Felix Salmon, author of Capital
5 hours ago - Economy & Business

Get ready for more debt ceiling drama

Illustration: Aïda Amer/Axios

It was bliss while it lasted — which was exactly two years. Right now, the U.S. has no limit on the amount of debt it can issue. But that ends on Saturday.

Why it matters: Brace yourself for another round of unedifying posturing and brinkmanship, all of which should result — after a period of entirely unnecessary fiscal contortion — in the debt ceiling being raised (not abolished) sometime this fall.

5 hours ago - Politics & Policy

First look: Biden adviser Donilon touts infrastructure deal

Mike Donilon. Photo: Drew Angerer/Getty Images

One of President Biden’s closest advisers, Mike Donilon, believes swing voters want Congress to pass the $1.2 trillion bipartisan infrastructure deal, and embrace solutions where the two parties "meet in the middle,” according to a memo first reported by Axios.

Why it matters: While Biden has faced doubters — especially in his own party — about his ability to work with Republicans, a core group of advisers, including Donilon, is convinced the president’s political fortunes rest on his ability to transcend partisanship.

5 hours ago - Health

The billion-dollar COVID booster discussion

A third dose of the COVID-19 vaccine could add billions of dollars in extra revenue for Pfizer. Photo: Michael Nagle/Bloomberg via Getty Images

Pfizer said yesterday that it expects to sell nearly $34 billion worth of coronavirus vaccines this year — and there could be billions more behind that, if people who have gotten the shot ultimately need boosters.

Why it matters: It's unclear whether, when and for whom a coronavirus vaccine booster will be necessary. Pfizer has a lot of money riding on those answers, and executives are already making the case that many Americans will need a third dose.

Robinhood IPO brings meme stock icon into the Wall Street fold

Illustration: Sarah Grillo/Axios

Today is the day everyone can begin buying and selling shares in Robinhood, which goes public on the Nasdaq after raising $1.89 billion in its IPO.

Why it matters: Robinhood is considered a proxy for the rise of retail investing, particularly among younger Americans. But it also has drawn regulatory and political scrutiny for a variety of business practices, and found itself in the crosshairs after users drove up the price of GameStop stock earlier this year.

Study: Cost of carbon emissions measured in lives lost is high

Data: Our World in Data; Chart: Axios Visuals

Adding projected heat-related deaths into cost-benefit analysis of federal rules would tilt policymaking in favor of more aggressive carbon emissions cuts, a new study finds.

Why it matters: The social cost of carbon helps determine the outcome of cost-benefit analyses that underpin federal regulations. Adding in global warming's potential to cause more heat-related fatalities would tilt the policy calculus from supporting a gradual phaseout of emissions starting in 2050, to fully decarbonizing by the same year.

Updated 7 hours ago - Sports

In photos: Tokyo Olympics day 6 highlights

An underwater view of swimmers including Team USA's Caeleb Dressel (R) in the final of the Olympic Tokyo Games men's 100m freestyle on July 29. Photo: François-Xavier Marit/AFP via Getty Images

There's been plenty of Olympics drama on day six of the Tokyo Games Thursday — notably China's women's swimming team beating the U.S. and Australia in the record-setting 4x200-meter freestyle relay.

The big picture: Katie Ledecky helped the U.S. win silver, which also beat the previous world record smashed by China's team. Team USA grabbed two more swimming gold medals, when Caeleb Dressel won the men's 100m freestyle and Bobby Finke triumphed in the first men's Olympic 800m freestyle.

Updated 10 hours ago - Sports

China wins Olympic gold in women's 4x200m freestyle relay, sets world record

Junxuan Yang, Muhan Tang, Yufei Zhang and Bingjie Li of Team China react after winning the gold medal in the women's 4 x 200m freestyle relay final. Photo: Al Bello/Getty Images

China grabbed Olympic gold in the women's 4x200m freestyle relay, in a surprise record win in Tokyo Thursday.

The big picture: Katie Ledecky made up time as Team USA's final swimmer to help the U.S. take silver. Australia, which was the heavy favorite, won the bronze. All three teams finished ahead of the previous world record pace.

Updated 11 hours ago - Technology

Google and Facebook offices to mandate vaccines

Photo: Brooks Kraft LLC/Corbis via Getty Images

Google and Facebook both announced Wednesday that they would require everyone in their offices to be vaccinated against COVID-19.

Why it matters: The Delta variant's spread is upending corporate plans for a quick and steady resumption of in-office work, and vaccine mandates are one way for companies to put employees at ease and increase their safety.

Updated 12 hours ago - Sports

Simone Biles reacts to "love and support" over Olympics decision

U.S. gymnastics great Simone Biles blows a kiss whilst watching the men's all-around Final on day five of the Tokyo 2020 Olympic Games at Ariake Gymnastics Centre in Japan on Wednesday. Photo: Jamie Squire/Getty Images

Simone Biles tweeted her thanks Wednesday for the support she's received after pulling out of two Olympic gymnastics events to focus on her mental health.

What she's saying: "the outpouring love & support I’ve received has made me realize I’m more than my accomplishments and gymnastics which I never truly believed before. 🤍" Biles said.

12 hours ago - Sports

Caeleb Dressel wins Olympic gold in men's 100m freestyle

Caeleb Dressel in Tokyo. Photo: Clive Rose/Getty Images

American swimmer Caeleb Dressel snagged his second gold medal of the Tokyo Olympics Thursday, winning the men's 100-meter freestyle race and setting a new Olympic record.

The big picture: It's his first individual Olympic gold of his career. He won gold earlier this week in the men's 4x100m medley relay, and brought home two gold medals for relays in Rio.

First look: Biden meeting with Democrats on DACA

President Biden walks to the Oval Office on Wednesday. Photo: Anna Moneymaker/Getty Images

President Biden will meet with 11 Democratic members of Congress at the White House Thursday to discuss the next steps for providing a pathway to citizenship for undocumented migrants brought to the U.S. as children, a White House official told Axios.

Why it matters: Congressional Democrats plan to try to pass pathways to citizenship for so-called Dreamers, TPS holders and undocumented essential workers in the upcoming reconciliation package. Biden also has consistently called on Congress to pass legislation to protect Dreamers.

Conservative media's gold diggers

Illustration: Annelise Capossela/Axios

With inflation rising and Congress pumping out massive spending bills, conservative media have focused renewed attention on financial issues — and lent significant airtime to some of the very companies underwriting their shows.

Why it matters: Politics is bleeding into financial advice, and all incentives are to play up impending economic disaster.

14 hours ago - Politics & Policy

Infrastructure bills face House chaos

Rep. Hakeem Jeffries arrives for a House vote last month. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

The infrastructure agreement cinched Wednesday by senators faces several changes in the House before it — and a companion reconciliation bill — have any chance of becoming law.

Why it matters: The myopic focus on the bipartisan group of Senate negotiators overlooks House progressives and others ready to pounce. They have the ability to quash any deal, given the narrow Democratic margins not only in the Senate but also the House.

By the numbers: Clocking the Senate

Data: Brookings Institution, U.S. Senate; Chart: Connor Rothschild/Axios

Senators are spending more days in session than past congresses — but fewer hours per day on average, according to data from the Brookings Institution and the U.S. Senate.

Why it matters: The Senate pushed to wrap up negotiations on the bipartisan infrastructure package on Wednesday ahead of its longest break of the year. Other lingering work is likely to cut into senators' planned August recess, though.

14 hours ago - World

First look: Lawmakers form bipartisan Uyghur caucus

Uyghurs of the East Turkistan National Awakening Movement appeared outside the White House last October. Photo: Nicholas Kamm/AFP via Getty Images

House lawmakers are forming a bipartisan caucus to hold the Chinese Communist Party accountable for its human rights violations against Uyghurs in the Xinjiang region, Axios is first to report.

Why it matters: While the United States economy relies heavily on trade with China, relations between the two global powers are tense. The Chinese Communist Party's human rights violations are at the center of many complications.