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.

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7 mins ago - World

U.S. rejects China's claims to territory in South China Sea

Photo: Artyom Ivanov\TASS via Getty Images

The State Department announced Monday that it rejects most of China's territorial claims in the South China Sea, a first from the U.S. as the Trump administration toughens its approach toward Beijing.

Why it matters, via Axios' Bethany Allen-Ebrahimian: This is a significant, if symbolic, step toward a tougher U.S. approach to China's attempted annexation of the open seas.

Los Angeles and San Diego public schools will be online only this fall

Alhambra Unified School District. Photo: Frederic J. Brown/AFP via Getty Images

Public schools in Los Angeles and San Diego, the two largest public school districts in California, will not be sending children back to campuses next month and will instead administer online classes due to concerns over the ongoing threat of the coronavirus.

Why it matters: The two districts, which together enroll about 825,000 students, are the largest in the country thus far to announce that they will not return to in-person learning in the fall, even as the Trump administration aggressively pushes for schools to do so.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 2 p.m. ET: 12,984,811 — Total deaths: 570,375 — Total recoveries — 7,154,492Map.
  2. U.S.: Total confirmed cases as of 2 p.m. ET: 3,327,388— Total deaths: 135,379 — Total recoveries: 1,006,326 — Total tested: 40,282,176Map.
  3. World: WHO head: There will be no return to the "old normal" for the foreseeable future — Hong Kong Disneyland closing due to surge.
  4. States: Cuomo says New York will use formula to determine if reopening schools is safe.
  5. Politics: Mick Mulvaney: "We still have a testing problem in this country."