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Amcor, an Australian plastic packaging company, has agreed to buy Wisconsin-based rival Bemis for $5.25 billion in stock (12% premium to Friday's closing price).

Why it's a big deal: Because consolidation is the name of the game right now in packaging, due primarily to rising costs.

Bottom line: "Amcor generated sales of $9.1 billion last year servicing sectors ranging from food and beverages to pet care. The company, whose founding dates back to the 1860s, has grown into a global packaging giant employing more than 35,000. By acquiring Bemis, Amcor could bolster its offerings of so-called rigid plastic packaging." — Dana Mattioli & Ben Dummett, WSJ

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Trump: "We are going a different way" on coronavirus aid

President Trump. Photo: Jim Watsonn/AFP via Getty Images

President Trump tweeted on Friday that his administration is "going a different way" with coronavirus aid after negotiations with congressional Democrats stalled again, suggesting he will use an executive order to address stimulus spending.

What he's saying: "Pelosi and Schumer only interested in Bailout Money for poorly run Democrat cities and states. Nothing to do with China Virus! Want one trillion dollars. No interest. We are going a different way!" Trump tweeted.

Trump's swift, sweeping China offensive

Illustration: Aïda Amer/Axios

President Trump's rhetoric on China has tended to run hotter than his actions — until now.

Why it matters: Even at the height of Trump's trade war, his administration never hit China as hard, as fast, and on as many fronts as it is right now.

Liberty University's Jerry Falwell Jr. agrees to “indefinite leave of absence”

Liberty University President Jerry Falwell Jr. in 2019. Photo: Ethan Miller/Getty Images

Jerry Falwell Jr. will take an “indefinite leave of absence” from his roles as president and chancellor of Liberty University after posting a photo of himself with unzipped pants and an arm around a woman on social media, according to the school.

The state of play: The picture, which has since been deleted, drew backlash and charges of hypocrisy from conservative political figures because the university's honor code strictly prohibits students from having "sexual relations outside of a biblically-ordained marriage," and recommends they dress with“appropriateness” and “modesty."