Photo: CargoX

Brazilian trucking platform CargoX has raised $60 million in new funding led by The Blackstone Group and Hudson Structured Capital Management, Axios has learned.

Why it matters: The trucking industry can be very inefficient, with rigs often carrying half-full payloads. CargoX tries to correct this supply/demand imbalance by matching businesses with truckers who have excess capacity.

Others investors include Goldman Sachs, Qualcomm Ventures, Soros, and Uber co-founder Oscar Salazar.

CargoX currently operates in Brazil, but may eventually expand into other markets, where it could run into Uber, which recently expanded its own freight business.

Clarification: The story was updated to include Hudson Structured Capital Management, which co-led the funding round.

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Scoop: Chinese biotech giant's U.S. subsidiary received PPP loan

Chinese biotech company BGI Genomics provided mobile labs for conducting COVID-19 tests at a sports center in Beijing. Photo credit: Xinhua/Chen Zhonghao via Getty Images.

A U.S. subsidiary of Chinese genomics company BGI Group received a loan through the Paycheck Protection Program (PPP), according to data on the program released by the U.S. Treasury Department this week.

Why it matters: BGI's close ties to the Chinese government, which is constructing a massive genetics database of its population, have raised concerns among U.S. officials.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 11:30 a.m. ET: 12,081,232 — Total deaths: 550,440 — Total recoveries — 6,639,503Map.
  2. U.S.: Total confirmed cases as of 11:30 a.m. ET: 3,057,431 — Total deaths: 132,360 — Total recoveries: 953,420 — Total tested: 37,431,666Map.
  3. Public health: Cases rise in 33 states — Fauci says states with severe outbreaks "should seriously look at shutting down"
  4. Education: How Trump's push to reopen schools could backfire — College sports stare down a disaster in the fall.
  5. Jobs: 1.3 million Americans filed for unemployment last week.
  6. Travel: Over 1,000 TSA agents have tested positive.

Supreme Court says Manhattan prosecutors can obtain Trump's financial records

Photo: Saul Loeb/AFP via Getty Images

The Supreme Court ruled Thursday that Manhattan prosecutors can obtain President Trump's financial records — and punted House Democrats' efforts to access similar records to a lower court.

Why it matters: The Manhattan ruling, a 7-2 decision, is a stinging loss for Trump, who has fought relentlessly to keep these records secret.