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Martin Meissner / AP

General Motors is considering a sale of its European Opel unit to the French automaker Peugeot, the firm said yesterday. It's a move that could knock the carmaker out of its position as top-five auto manufacturer by volume, behind the likes of NIssan. But CEO Mary Barra is willing to take that risk, given that it's been a money losing operation for years. It's an example of Barra bucking the conventional wisdom that carmakers need massive scale to survive — she wants profit margins over volume.

Janet Yellen, round two: The Federal Reserve Chair will give testimony and face questions from the House Financial Services committee this morning, after spending time with the Senate Banking Committee yesterday. There's always more fireworks in the House than the more cordial Senate — look for tough questioning, on the topic of bank regulation specifically

Goldman hits new highs: Goldman Sachs stock touched a new record high Tuesday, its first in ten years. It's been a good year for Goldman Sachs, whose alumni are staffing the Trump Administration at an impressive rate. Investors bought up the bank's stock yesterday on improved economic metrics and the hope that coming financial regulatory reform will boost profits.

Go deeper

Officials warn 5 key tech sectors will determine whether China overtakes U.S.

Illustration: Aïda Amer/Axios

U.S. intelligence officials responsible for protecting advanced technologies have narrowed their focus to five key sectors: artificial intelligence, quantum computing, biotechnology, semiconductors and autonomous systems.

Why it matters: China and Russia are employing a variety of legal and illegal methods to undermine and overtake U.S. dominance in these critical industries, officials warned in a new paper. Their success will determine "whether America remains the world’s leading superpower or is eclipsed by strategic competitors."

4 hours ago - Health

Pfizer says COVID vaccine over 90% effective in kids

Photo: Michael M. Santiago/Getty Images

Pfizer and BioNTech said their COVID-19 vaccine was more than 90% effective at protecting children between the ages of 5 and 11 from symptomatic infections from the virus, according to a study posted online by the FDA Friday.

Why it matters: Pfizer is seeking an emergency use authorization to vaccinate children — one of the last groups of Americans still largely ineligible to receive a coronavirus vaccine.

Changing the inflation conversation

Illustration: Annelise Capossela/Axios

Inflation looks like it’ll run hot for longer than plenty of smart people thought it would. The conversation over just how much more Americans will have to pay for their stuff has taken on a new intensity, as supply problems show few signs of fading.

Why it matters: The rate of price growth has remained consistently strong in recent months — a time that some thought would bring cooling prices after an initial reopening spike. What goes on with prices will influence the decisions made by Congress, the Biden Administration, and the Federal Reserve.