Photo by Astrid Stawiarz/Getty Images for UN Global Compact

Ameenah Gurib-Fakim, president of Mauritius and Africa's only female head of state, is refusing to resign amid allegations that she spent $27,000 on clothing and jewelry using a charity credit card, reports the BBC.

  • The details: The credit card was given to Gurib-Fakim, who was a celebrated scientist before entering politics, by the Planet Earth Institute to cover travel expenses while promoting a science initiative abroad. The president's office has denied wrongdoing, claiming that that she inadvertently used an identical credit card from the same bank and that all expenses have been paid back to PEI.

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BodyArmor takes aim at Gatorade's sports drink dominance

Illustration: Eniola Odetunde/Axios

BodyArmor is making noise in the sports drink market, announcing seven new athlete partnerships last week, including Christian McCaffrey, Sabrina Ionescu and Ronald Acuña Jr.

Why it matters: It wants to market itself as a worthy challenger to the throne that Gatorade has occupied for nearly six decades.

S&P 500's historic rebound leaves investors divided on future

Data: Money.net; Chart: Axios Visuals

The S&P 500 nearly closed at an all-time high on Wednesday and remains poised to go from peak to trough to peak in less than half a year.

By the numbers: Since hitting its low on March 23, the S&P has risen about 50%, with more than 40 of its members doubling, according to Bloomberg. The $12 trillion dollars of share value that vanished in late March has almost completely returned.

Newsrooms abandoned as pandemic drags on

Illustration: Sarah Grillo/Axios

Facing enormous financial pressure and uncertainty around reopenings, media companies are giving up on their years-long building leases for more permanent work-from-home structures. Others are letting employees work remotely for the foreseeable future.

Why it matters: Real estate is often the most expensive asset that media companies own. And for companies that don't own their space, it's often the biggest expense.