Illustration: Aïda Amer/Axios

Thyssenkrupp of Germany agreed to sell its elevators unit for $18.7 billion to a consortium that includes Advent International, Cinven, ADIA and the RAG Foundation.

Why it matters: This is Europe's largest buyout since before the 2008-2009 financial crisis.

  • Marketplace: The winning price approximated a bid from Finnish strategic Kone, which was hampered by German labor concerns. It was higher than a rival private equity offer from Blackstone, Carlyle and CPPIB.

The bottom line: "Once an emblem of German industrial prowess, Thyssenkrupp is fighting for survival. The company has been bruised by a slowdown in Chinese and German manufacturing, rising pension costs and falling demand for European steel," Bloomberg writes.

Go deeper: Private equity "plague" descends on Germany's elevator industry

Go deeper

Pompeo: Trump administration is "looking at" TikTok ban

Secretary of State Mike Pompeo told Fox News' Laura Ingraham on Monday that the Trump administration is "looking at" a ban on Chinese social media app TikTok.

Why it matters: Lawmakers have long expressed fears that the Chinese government could use TikTok to harvest reams of data from Americans — and actions against the app have recently accelerated worldwide, highlighted by India's ban.

"Hamilton" is a streaming hit for Disney+

Data: Google Trends; Chart: Andrew Witherspoon/Axios

The debut of "Hamilton" on Disney+ last Friday sent downloads of the app soaring over the weekend.

Why it matters: With theaters closed until 2021, "Hamilton" is the biggest litmus test for whether Broadway will ever be able to successfully transition some of its iconic hits.

Wall Street is no longer betting on Trump

Illustration: Sarah Grillo/Axios

Betting markets have turned decisively toward an expected victory for Joe Biden in November — and asset managers at major investment banks are preparing for not only a Biden win, but potentially a Democratic sweep of the Senate and House too.

Why it matters: Wall Street had its chips on a Trump win until recently — even in the midst of the coronavirus-induced recession and Biden's rise in the polls.