May 8, 2018

A look at the scale of California's economy

Los Angeles freeways from an aerial view. Photo: Ken Ross/VW Pics via Getty Images

California has become the world's fifth largest economy — and the New York Times examines how "all of that money pouring in to California’s tech and entertainment industries produces a big wealth effect."

An eye-popping stat: "Apple ... brought in more revenue in its latest fiscal year — $229 billion — than the entire economic output of Wyoming, five times over."

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#MeToo gets Weinstein

A man carries out Weinstein's walker. Photo: Johannes Eisele/AFP/Getty Images

Hollywood titan Harvey Weinstein is now a convicted rapist, two years and four months after accusations against him helped ignite the #MeToo movement.

Why it matters: To date, #MeToo has resulted in hundreds of powerful men losing their jobs. Seven have been criminally convicted, with four others still facing charges.

JPMorgan Chase to pull support for some fossil fuels

Illustration: Sarah Grillo/Axios

JPMorgan Chase said Monday that it won’t directly finance new oil and gas development in the Arctic and will significantly curtail its financing of the extraction and burning of coal.

Why it matters: JPMorgan is the world’s largest funder of fossil-fuel companies, according to a report by the Rainforest Action Network (RAN). The announcement follows similar moves by other big banks and investment firms, including Goldman Sachs and BlackRock.