Borden, a Dallas-based milk and cheese producer founded in 1857, has filed for Chapter 11 bankruptcy protection.

Why it matters: This is the second major U.S. dairy to go bankrupt in the past two months, following market leader Dean Foods, with blame being placed on everything from declining milk consumption to truck driver shortages.

  • The private equity angle: Borden was acquired in 2017 by Washington, D.C.-based buyout firm ACON Investments.

The bottom line: "Consumption of fluid milk, which accounts for the vast majority of Borden’s revenue, has been declining for decades, with per capita consumption down about 40% since 1975, according to Agriculture Department data. Meanwhile, dairy alternatives like milks from soy, oats, almonds and other sources have been on the rise," writes the New York Times.

Go deeper: Dean Foods, America's largest milk producer, is 2019's 100th default

Go deeper

Updated 4 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 12 p.m. ET: 12,772,755 — Total deaths: 566,036 — Total recoveries — 7,030,749Map.
  2. U.S.: Total confirmed cases as of 12 p.m. ET: 3,269,531 — Total deaths: 134,898 — Total recoveries: 995,576 — Total tested: 39,553,395Map.
  3. Politics: Trump wears face mask in public for first time.
  4. States: Florida smashes single-day record for new coronavirus cases with over 15,000.
  5. Public health: Trump's coronavirus testing czar says lockdowns in hotspots "should be on the table" — We're losing the war on the coronavirus.
  6. Education: Betsy DeVos says schools that don't reopen shouldn't get federal funds — Pelosi accuses Trump of "messing with the health of our children."
34 mins ago - Health

Florida smashes single-day record for new coronavirus cases

Data: Covid Tracking Project; Chart: Axios Visuals

Florida reported 15,299 confirmed coronavirus cases on Sunday — a new single-day record for any state, according to its health department.

The big picture: The figure shatters both Florida's previous record of 11,458 new cases and the single-state record of 11,694 set by California last week, according to AP. It also surpasses New York's daily peak of 11,571 new cases in April, and comes just a day after Disney World reopened in Orlando.

Pelosi: Trump is "messing with the health of our children" with push to open schools

House Speaker Nancy Pelosi said on CNN's "State of the Union" Sunday that Education Secretary Betsy DeVos' aggressive push to fully reopen schools this fall is "malfeasance and dereliction of duty," accusing the Trump administration of "messing with the health of our children."

Why it matters: Trump has demanded that schools reopen as part of his efforts to juice the economy by allowing parents to return to work, despite caution from health officials that little is known about how the virus impacts children.