Joe Biden's campaign is asking staffers to delete TikTok from their phones and forbidding them from trading individual stocks without first getting approval from the campaign's general counsel, according to Bloomberg News.
Why it matters: Biden is seeking to draw a contrast with President Trump and members of his family and administration, whom Democrats have accused of profiting from his presidency.
After days of intense debate, Senate Majority Leader Mitch McConnell (R-Ky.) and other Republican leaders rolled out a roughly $1 trillion proposal for the next round of coronavirus relief funding, which has the White House's seal of approval.
Why it matters: The HEALS Act (health, economic assistance, liability protection, schools) is viewed as a GOP marker for broader negotiations, since both Democrats and some Republicans have expressed dissatisfaction with key aspects of the bill. It's expected to change significantly in the coming days.
Dozens of local news and sports stations across the country are blacked out for customers of satellite TV giant Dish Network after it failed to renegotiate programming fee agreements with the station owners.
Why it matters: Dish is known for being a shrewd negotiator when it comes to hashing out fees with station owners. But its recent slew of local blackouts is creating an enormous local news draught for many communities during the pandemic.
Senate Republicans on Monday rolled out their proposal for the next federal stimulus, and they have some major disagreements with the Democrats who they'll need to get it passed.
Perhaps no issue will be more contentious than extra unemployment benefits — $600 weekly payments passed in the March CARES Act that are due to expire on Friday. Axios Re:Capdigs in with the Wall Street Journal's Andy Duehren.
Former CBS Interactive president Jim Lanzone has been named CEO of Tinder, the dating app's parent company Match Group announced Monday.
The big picture: Lanzone's appointment comes in the midst of the dating app industry's foray into original content. He oversaw all digital products at CBS Interactive, including its streaming network CBS All Access. Tinder began to experiment with scripted content last year.
Oprah Winfrey's third streaming show for Apple, "The Oprah Conversation," is set to premiere July 30 with a series of virtual interviews from global thought leaders and newsmakers, Variety reports.
The big picture: The new show falls under a multi-year content agreement that Winfrey signed with Apple in 2018 that also includes “Oprah Talks COVID-19” and “Oprah’s Book Club.” Winfrey is also working on an upcoming documentary series that will cover mental health stigmas.
Senate Republicans' coronavirus relief proposal will include a provision to cut federal weekly unemployment benefits from $600 to $200, the Washington Post reports, citing two people familiar with the plan.
How it works: The reduction would be a temporary measure in place until states implement a more targeted system that pays individuals 70% of their lost weekly wages, which they would be given two months to do. The federal benefits are supplemental to existing unemployment insurance, which varies by state.
Carta, an equity management "unicorn," on Friday held an all-staff meeting in which CEO Henry Ward addressed a gender discrimination and retaliation lawsuit brought by the company's former VP of marketing, Axios has learned from several sources.
Why it matters: The company, which recently was valued at $3.3 billion, has generated attention for its reports on gender disparities in equity ownership —often the primary source of wealth creation for startup employees.
Berkshire Partners agreed to buy fitness brand CrossFit, in partnership with CrossFit gym owner and former Datalogix CEO Eric Roza (who will become CrossFit CEO). The seller is CrossFit's founding CEO Greg Glassman, who resigned after making controversial comments about the killing of George Floyd.
Why it matters: CrossFit needed a lifeline, due to both its management tumult and business challenges related to the pandemic.
The BMW Group said Monday that it will make sustainability "central to the company’s strategic direction" as it rolled out new climate goals and revealed fresh details about its electric lineup.
Driving the news: The German automaker said it's setting emissions targets for 2030 that apply to vehicles' "entire lifecycle," including supply chains, production and use.
This week brings the heart of Big Oil's earnings season and it's not going to be a pretty picture for the industry.
Why it matters: The second-quarter results will bear the heavy imprint of the collapse in demand and prices in recent months — and could reveal more about steps that companies are taking in response.
Given the latest reports on existing and new home sales and mortgage applications, "housing is the strongest major sector of the economy," says Ian Shepherdson, chief economist at Pantheon Macroeconomics.
The state of play: Friday's report showed new home sales jumped to the highest level in nearly 13 years.
The Fed's outlook is relatively pessimistic about the future, based on recent speeches and communications from top policymakers and likely augurs a massive expansion of the central bank's balance sheet in coming years, Deutsche Bank chief U.S. economist Matthew Luzzetti says in a new research note.
What's happening: "We find that the Fed will need to provide significant accommodation — roughly equal to a fed funds rate of -5% — and that [quantitative easing] and forward guidance could be insufficient."
After reading Axios' 10 myths about the racial wealth gap, BET co-founder and entrepreneur Robert L. Johnson is issuing a challenge to politicians, civic leaders and Black organizations across the country: Refute the findings or lay out a set of actionable solutions.
What he's saying: And if they can't, "they need to have the courage to stand up to Black people and say, 'You are perpetually a second-class economic population in America,'" Johnson said during an hourlong one-on-one interview Sunday.
The four Big Tech CEOs who will testify before Congress Wednesday command global empires with power and wealth that make them more like countries than companies.
By the numbers: Here are four very large stats for Facebook, Apple, Google/Alphabet and Amazon that tell the story of their value, scale and influence.
Expenses are piling up for cash-strapped small businesses as they invest in what it takes to lure customers and workers back into shops: fancy air filters, plexiglass shields, and stockpiles of PPE.
Why it matters: Some small business owners are spending the equivalent of a month's worth of profit on precautionary equipment — even as they question whether it's worth it as the threat of more lockdowns loom.
Coronavirus cases in rural communities have now surpassed the number of COVID-19 infections in big cities, and rural economies will have a harder time recovering from a second shutdown.
Why it matters: Without additional federal relief for rural regions, "people and businesses will not have enough confidence to return to their jobs and daily activities," Center for American Progress senior economist Olugbenga Ajilore argues in an analysis out on Monday. "The result will be a prolonged, deep recession."
