Illustration: Aïda Amer/Axios

Several climate models from top institutions around the globe are suddenly predicting the world will warm by 5°C (9°F) by 2100, a possible "nightmare scenario," and scientists aren't sure why, Bloomberg reports.

Why it matters: The 2015 Paris climate agreement set an agreed threshold to attempt to limit warming below 1.5°C (2.7°F). Should these newest projections turn out to be accurate, the Paris agreement's goals would already be well out of reach.

The state of play: These models have projected global warming with relative accuracy for the last half-century, and there has long been a general consensus that warming of 3°C (5.4°F) would produce catastrophic change.

  • Yes, but: Researchers don't yet agree on how to interpret the hotter results — based on supercomputer simulations of climate models — and some believe they may have "overshot."

The bottom line: These models inform how policymakers and politicians can plan for the future effects of climate change, so any unexpected and extreme change in their output would radically lessen the time that humanity would have to prepare.

Go deeper: Dissecting Trump's State of the Union energy claims

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Quibi says it's shutting down

Photo: Igor Golovniov/SOPA Images/LightRocket via Getty Images

Quibi, the mobile-only video subscription streaming service, is shutting down, the company announced Wednesday. The company said the decision was made to preserve shareholder equity.

Why it matters: Quibi had struggled to hit its subscriber growth targets amid the global pandemic. The app launched six months ago.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Senate Democrats block vote on McConnell's targeted COVID relief bill McConnell urges White House not to strike stimulus deal before election.
  2. Economy: Why the stimulus delay isn't a crisis (yet).
  3. Health: New York reports most COVID cases since MayStudies show drop in coronavirus death rate — The next wave is gaining steam.
  4. Education: Schools haven't become hotspots — San Francisco public schools likely won't reopen before the end of the year.
  5. World: Spain becomes first nation in Western Europe to exceed 1 million cases.
3 hours ago - Podcasts

House antitrust chair talks USA vs. Google

The Justice Department filed a 63-page antitrust lawsuit against Google related to the tech giant's search and advertising business. This comes just weeks after the House subcommittee on antitrust issued its own scathing report on Google and other Big Tech companies, arguing they've become digital monopolies.

Axios Re:Cap talks with Rep. David Cicilline (D-R.I.), chair of the subcommittee on antitrust, about Google, the DOJ's lawsuit and Congress' next move.