Economy & Business

Why it matters: After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

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Felix Salmon, author of Capital
1 hour ago - Economy & Business

Wall Street: Recession is over

Illustration: Aïda Amer/Axios

U.S. economic activity fell more sharply in the second quarter of this year than during any other quarter in history. It's also going to grow more sharply in the third quarter of this year than during any other quarter in history.

  • The recession is over, according to Wall Street, with current forecasts showing sustained economic growth through 2021 and beyond.
Ben Geman, author of Generate
2 hours ago - Energy & Environment

Nikola founder steps aside amid allegations of fraud

Illustration: Lazaro Gamio/Axios

Nikola announced Monday that executive chairman Trevor Milton, who is also the company's founder, is out as the electric and fuel cell truck startup reportedly faces federal inquiries into a short-seller's allegations of inaccurate or misleading statements.

Why it matters: It's the latest move in a head-spinning series of events for Nikola.

College students give failing grade on return to campus

Illustration: Sarah Grillo/Axios

College students are learning less, partying less and a majority say the decision to return to campus was a bad decision, according to a new College Reaction/Axios poll.

Why it matters: The enthusiasm to forge something resembling a college experience has dissipated as online learning, lockdowns and a diminished social life has set in.

Updated 4 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3 a.m. ET: 31,032,045 — Total deaths: 960,729— Total recoveries: 21,255,717Map.
  2. U.S.: Total confirmed cases as of 3 a.m. ET: 6,805,342 — Total deaths: 199,511 — Total recoveries: 2,590,671 — Total tests: 95,108,559Map.
  3. Politics: Testing czar on Trump's CDC contradictions: "Everybody is right" Ex-FDA chief: Career scientists won't be "easily cowed" by political vaccine pressure.
  4. Education: What we overlooked in the switch to remote learning.
  5. Health: The dwindling chances of eliminating COVID-19 — 7 states set single-day coronavirus case records last week.
  6. World: England sets £10,000 fine for breaking self-isolation rules — The countries painting their pandemic recoveries green.

Leaked Treasury documents reveal how dirty money moves through global banking system

Photo: Eduardo Parra/Europa Press via Getty Images

Thousands of leaked government documents covering at least $2 trillion worth of transactions reveal how some of the world's biggest banks knowingly moved around the money of oligarchs, terrorists and criminals, with few consequences, according to a massive investigation by BuzzFeed News, the International Consortium of Investigative Journalists (ICIJ) and hundreds of other news organizations.

The big picture: The investigation, published on Sunday, examines more than 2,100 suspicious activity reports (SARs) filed by banks and other financial firms with the U.S. Department of Treasury’s Financial Crimes Enforcement Network, known as FinCEN.

What we overlooked in the switch to remote learning

Illustration: Eniola Odetunde/Axios

America’s rapid and urgent transition to online school has come with a host of unforeseen consequences that are only getting worse as it continues into the fall.

The big picture: The issues range from data privacy to plagiarism, and schools are ill-equipped to deal with them, experts say.

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