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Air France CEO Jean-Marc Janaillac during a press conference. Photo: Eirc Piermont/AFP via Getty Images

Air France-KLM Group's stock dropped as much as 14% on Monday in the fallout of CEO Jean-Marc Janaillac's announced resignation late last week amid a labor dispute, reports Bloomberg. Janaillac plans to submit his resignation to the board on May 9.

The state of play: Air France has lost $358 million in operating profits this year because of labor strikes — with a push for higher wages by Air France's employees at the heart of the conflict. Janaillac had offered a 7% wage increase to employees over the next four years as a last-ditch effort to remain in his position, but it was voted down, forcing his departure.

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Updated 6 mins ago - Politics & Policy

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Illustration: Sarah Grillo/Axios

  1. Health: CDC director defends agency's response to coronavirus pandemic — CDC warns highly transmissible coronavirus variant could become dominant in U.S. in March.
  2. Politics: Azar says deadly Capitol siege could "tarnish" Trump administration's legacy — Biden says, "We will manage the hell out of" vaccine distribution.
  3. Vaccine: Battling Black mistrust of the vaccines"Pharmacy deserts" could become vaccine deserts — Instacart to give $25 to shoppers who get vaccine.
  4. Economy: Unemployment filings explode againFed chair: No interest rate hike coming any time soon —  Inflation rose more than expected in December.
  5. World: WHO team arrives in China to investigate pandemic origins.
Bryan Walsh, author of Future
14 mins ago - Politics & Policy

America is anxious, angry and heavily armed

Data: FBI; Chart: Andrew Witherspoon/Axios

Firearms background checks in the U.S. hit a record high in 2020.

The big picture: This past year took our collective arsenal to new heights, with millions of Americans buying guns for the first time. That trend coincides with a moment of peak political and social tension.

Mike Allen, author of AM
1 hour ago - Economy & Business

America on borrowed time

Illustration: Aïda Amer/Axios

Economic recovery will not be linear as the world continues to grapple with the uncertainty of the pandemic.

Why it matters: Despite being propped up by an extraordinary amount of fiscal stimulus and support from central banks, the state of the global economy remains fragile.