Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

General Motors workers leave the Oshawa General Motors plant in Oshawa, Ontario, on Monday. Photo: Lars Hagberg/AFP/Getty Images

Wall Street analysts are responding to General Motors' plans to lay off nearly 15,000 salaried workers in 2019 and idle five North American manufacturing plants.

The big picture: Analysts were largely surprised by the scale of the restructuring, GM's largest since emerging from bankruptcy, but welcomed the cost cuts.

What analysts are saying:

  • Philippe Houchois, Jefferies automotive analyst, wrote in a note to clients that it was a "bigger restructuring than expected" and is "certainly piling pressure on Ford to announce plans."
  • Rebecca Lindland, Kelley Blue Book executive analyst, in an email to Axios: "Mary Barra is pushing GM into the 21st century by proactively up-ending nearly every part of the U.S. business and its global operations, positioning the company to be more flexible, agile, and streamlined. But it comes at a tremendous cost to people and the communities which depend upon GM plants for economic sustainability."
  • Michelle Krebs, Autotrader analyst, in an email to Axios: "A confluence of factors has triggered GM’s actions: a downturn in the important China market as well as a potential downturn in the North American market — the two are GM’s biggest markets; the dramatic shift by consumers from traditional cars to utility vehicles; and the impact of tariffs and trade issues."
  • Colin Langan, UBS analyst: "GM's cost reduction efforts have been a key driver of its operating performance and have helped offset recent commodity & [currency] headwinds. We are impressed by GM's proactive cost actions, and remain bullish on the stock."

Go deeper

Dave Lawler, author of World
2 mins ago - World

Globetrotting climate envoy Kerry makes Biden team’s first visit to China

Illustration: Aïda Amer/Axios

John Kerry became the first senior Biden administration official to touch down in China this week. He's also been the first to sit down with a string of world leaders.

Why it matters: Kerry may no longer be secretary of state, but you'd be forgiven for thinking otherwise after a glance at his calendar. The unusual role could make Kerry a foreign policy force multiplier for President Biden, or potentially a source of mixed messages.

Chicago releases video of fatal police shooting of 13-year-old boy

A small memorial is seen on April 15 in Chicago where 13-year-old Adam Toledo was shot and killed by a police officer in March. Photo: Kamil Krzaczynski/Getty Images

Chicago's independent police review board on Thursday released the body camera footage of an officer's fatal shooting of 13-year-old Adam Toledo on March 29.

The big picture: Tension continues to rise nationwide in response to police misconduct and racism. Thursday's footage release comes days after officer Kim Potter fatally shot Daunte Wright in a traffic stop near Minneapolis, where the trial of Derek Chauvin, a former police officer accused of murdering George Floyd, is ongoing.

3 hours ago - Podcasts

State AG candidate Jen Jordan talks Georgia's time under the microscope

Georgia has become the center of American politics, in an era wherein state issues and officials have taken on elevated national prominence.

Axios Re:Cap speaks with Georgia state Sen. Jen Jorden, a Democrat running for attorney general, about her state's time in the national spotlight, if she'd defend the voting law as AG and if Will Smith should have pulled his movie production from her state.