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!

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!

Editor's note: Axios has returned the loan. Details here.

Axios is among the small businesses that qualified for a PPP loan to protect existing jobs and help weather the coronavirus crisis.

Why it matters: We are in the somewhat unique position of being both a media company, which covers government and business, and a job-creating small business with a national presence. So we wanted to be fully transparent about our thinking. 

  • We have taken a financial hit like other small businesses. Our physical event business is gone until the crisis subsides, and some ad buyers are pulling back to measure the economic fallout.  The media, broadly speaking, is getting crushed by the economic fallout. The good news is that demand for our trusted journalism is stronger than ever.

Our plan: We qualified for just shy of $5 million. Along with quick moves we made early in the crisis to reduce non-personnel expenses, this loan ensures we can avoid layoffs and pay cuts for our almost 200-person staff for the rest of the year, regardless of how much the overall economy deteriorates.

  • This will  be good for readers, our employees and the economy. 
  • In the spirit of full transparency, we will note our participation in PPP when writing stories predominantly focused on that topic. 

The big picture: This is a tough time for small businesses and the media alike. All of us should work our tails off to help others navigate this economic mess.

  • Many organizations have had to lay off talented journalists and teams, or even shut down. Our commitment is to not only protect existing jobs but, with time, grow new ones. 
  • Hopefully, our journalism and business will help lift others through this crisis.

Go deeper

Dion Rabouin, author of Markets
Aug 4, 2020 - Economy & Business

U.S. Chamber of Commerce warns of racial inequality for small businesses

Illustration: Aïda Amer/Axios

Attitudes and beliefs about racial inequality are changing quickly as protests and media attention have helped highlight the gaps in opportunity between white- and minority-owned businesses in the United States.

Driving the news: A new survey from the U.S. Chamber of Commerce and MetLife provided early to Axios shows a 17-point increase in the number of small business owners who say minority-owned small businesses face more challenges than non-minority-owned ones.

8 mins ago - Health

FDA advisory panel endorses Johnson & Johnson COVID vaccine for emergency use

Photo: Illustration by Cezary Kowalski/SOPA Images/LightRocket via Getty Images

A Food and Drug Administration advisory panel on Friday recommended the authorization of Johnson & Johnson’s one-shot coronavirus vaccine for emergency use.

Why it matters: The FDA is expected to make a final decision within days on the J&J vaccine, which was found to be 66% effective against moderate to severe COVID. An emergency use authorization would allow distribution to immediately begin, helping streamline and speed up the vaccine rollout across the U.S.

Dave Lawler, author of World
9 mins ago - World

Schiff: "Definitive" Khashoggi report sends clear message to Saudis

Photo: Leon Neal/Getty Images

The report released Friday on the murder of Jamal Khashoggi was short on evidence or new information, but Rep. Adam Schiff (D-Calif.) tells Axios that the “definitive” statement assigning responsibility to Saudi Crown Prince Mohammed bin Salman (MBS) speaks volumes.

What he’s saying: Schiff, the chairman of the House intelligence committee, says that while some intelligence couldn’t be published because of the need to protect sources and methods, “we rarely see something published that is this definitive and I think that's an important accomplishment for the administration.”