Photo: Artur Widak/NurPhoto via Getty Images

The Blackstone Group agreed to buy Ayumi Pharmaceutical, a Japanese maker of anti-rheumatism drugs, from Unison Capital for a reported $1 billion.

Why it's the BFD: Because it's Blackstone's first-ever buyout in Japan, and comes as many other U.S. and European private equity firms are seeking deals in a country they had spent over a decade ignoring. "We are seeing much more deal flow in Japan," said Kewsong Lee, co-CEO of The Carlyle Group, speaking last month at the SuperReturn event in Berlin. "It is the third largest economy in the world, but private-equity penetration there is much lower."

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Dion Rabouin, author of Markets
1 hour ago - Economy & Business

Bond investors see brighter days

Illustration: Sarah Grillo/Axios

U.S. government bonds could breakout further after yields on the benchmark 10-year Treasury note ticked up to their highest since early June last week.

But, but, but: Strategists say this move is about an improving outlook for economic growth rather than just inflation.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: The swing states where the pandemic is raging. Ex-FDA chief: Pence campaigning after COVID exposure puts others at risk — Mark Meadows: "We are not going to control the pandemic"
  2. Health: 13 states set single-day coronavirus case records last week — U.S. reports over 80,000 new cases for second consecutive day.
  3. Education: The dangerous instability of school re-openings.
  4. World: Australian city to exit one of world's longest lockdowns — In photos: Coronavirus restrictions grow across Europe
  5. Media: Fox News president and several hosts advised to quarantine after possible COVID-19 exposure
  6. Nonprofit: Rockefeller Foundation commits $1 billion for COVID-19 recovery
Erica Pandey, author of @Work
3 hours ago - Economy & Business

The dangerous instability of school re-openings

Illustration: Eniola Odetunde/Axios

Schools across the country have flip-flopped between in-person and remote learning — and that instability is taking a toll on students' ability to learn and their mental health.

The big picture: While companies were able to set long timelines for their return, schools — under immense political and social strain — had to rush to figure out how to reopen. The cobbled-together approach has hurt students, parents and teachers alike.