PETA activists rally along Hollywood Boulevard in Los Angeles, California, in 2018. Photo: Frederic J. Brown/AFP/Getty Images

California Gov. Gavin Newsom has signed into law a ban on the sale and manufacture of new fur products — making the state the first in the U.S. to outlaw the practice.

The big picture: Democratic Assemblymember Laura Friedman introduced the bill, AB 44, last December. Newsom on Saturday signed the statewide bill, effective January 2023, along with other measures designed to protect animals, including a law preventing most wild animals from being used in circus performances. California is the third state to introduce a ban on the circus practice, AP notes.

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Betting on inflation is paying off big for investors

Illustration: Aïda Amer/Axios

The specter of rising inflation is helping power assets like gold, silver and Treasury Inflation-Protected Securities (TIPS) to strong returns with record demand this year.

The big picture: Investors continue to pack in even as inflation metrics like the consumer price index (CPI) and personal consumption expenditure (PCE) index have remained anchored.

Scoop: Top CEOs urge Congress to help small businesses

Illustration: Eniola Odetunde/Axios

With a new coronavirus relief measure stalled in Congress, CEOs of some of the world's biggest companies have banded together to send a message to Washington: Get money to small businesses now!

Why it matters: "By Labor Day, we foresee a wave of permanent closures if the right steps are not taken soon," warns the letter, organized by Howard Schultz and signed by more than 100 CEOs.

2 hours ago - Technology

What a President Biden would mean for tech

Illustration: Eniola Odetunde/Axios

A Biden presidency would put the tech industry on stabler ground than it's had with President Trump. Although Biden is unlikely to rein in those Democrats who are itching to regulate the big platforms, he'll almost certainly have other, bigger priorities.

The big picture: Liberal Silicon Valley remains one of Democrats' most reliable sources for big-money donations. But a Biden win offers no guarantee that tech will be able to renew the cozy relationship it had with the Obama White House.