Feb 23, 2017

Bannon is attacking the media again

Steve Bannon returned to a favorite attack this afternoon, calling the press the "opposition party" twice in the first few minutes of his conversation with Reince Priebus at CPAC.

"It's not gonna get better, it's gonna get worse," Bannon said. "They are corporatist globalist media who are diametrically opposed to the economic nationalist agenda that President Trump presents…if you think they're gonna give your country back without a fight, you're sadly mistaken…"

Bannon refers to the press as the "opposition party" and says we've been wrong since day 1 pic.twitter.com/iISRb9DLgT— Axios (@axios) February 23, 2017

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Jeff Tracy

21 mins ago - Economy & Business

BodyArmor takes aim at Gatorade's sports drink dominance

Illustration: Eniola Odetunde/Axios

BodyArmor is making noise in the sports drink market, announcing seven new athlete partnerships last week, including Christian McCaffrey, Sabrina Ionescu and Ronald Acuña Jr.

Why it matters: It wants to market itself as a worthy challenger to the throne that Gatorade has occupied for nearly six decades.

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Dion Rabouin

51 mins ago - Economy & Business

S&P 500's historic rebound leaves investors divided on future

Data: Money.net; Chart: Axios Visuals

The S&P 500 nearly closed at an all-time high on Wednesday and remains poised to go from peak to trough to peak in less than half a year.

By the numbers: Since hitting its low on March 23, the S&P has risen about 50%, with more than 40 of its members doubling, according to Bloomberg. The $12 trillion dollars of share value that vanished in late March has almost completely returned.

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Sara Fischer

3 hours ago - Economy & Business

Newsrooms abandoned as pandemic drags on

Illustration: Sarah Grillo/Axios

Facing enormous financial pressure and uncertainty around reopenings, media companies are giving up on their years-long building leases for more permanent work-from-home structures. Others are letting employees work remotely for the foreseeable future.

Why it matters: Real estate is often the most expensive asset that media companies own. And for companies that don't own their space, it's often the biggest expense.