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An Amazon fulfillment center in New Jersey. Photo: Julio Cortez / AP

Global Logistics Properties, Asia's largest warehouse owner, has paid $2.8 billion for European logistics company Gazeley, per the FT. That will allow GLP — with an existing foothold in the United States, China, Japan, and Brazil — to expand its reach to developed European markets like the United Kingdom and France.

Why it matters: GLP's largest shareholder is Singapore's sovereign wealth fund, so consider this purchase an Asian bet on the underlying businesses behind Amazonization — the inexorable rise of online shopping. Gazeley inked Amazon as a major tenant for its U.K. warehouses last year.

Go deeper

Biden confronts mounting humanitarian crisis at the border

Illustration: Eniola Odetunde/Axios. Photo: Pool/Getty Images     

Just over a month into his presidency, President Biden is staring down a mounting crisis at the border that could be just as bad as the ones faced by Barack Obama and Donald Trump, if not worse.

Why it matters: Immigration is an issue that can consume a presidency. It's intensely and poisonously partisan. It's complicated. And the lives and welfare of vulnerable children hang in the balance.

Erica Pandey, author of @Work
2 hours ago - Economy & Business

The rise of vaccine passports

Illustration: Annelise Capossela/Axios

Vaccine passports were touted early in the pandemic as an important piece of the plan to get people back to normal life. Now they’re becoming a reality.

Driving the news: CLEAR, the secure digital identity app that you see in airports around the world, and CommonPass, a health app that lets users securely access vaccination records and COVID test results, have joined forces.

"Vaccine tourism" stretches states' supplies

Illustration: Sarah Grillo/Axios

Americans who are highly motivated to get vaccinated are traveling across state lines after hearing about larger vaccine supplies or loopholes in sign-up systems.

Why it matters: "Vaccine tourism" raises ethical and legal questions, and could worsen the racial socioeconomic and racial inequalities of the pandemic.