Asana, the San Francisco-based company known for its project- and task-management software, has filed to go public via a direct listing on the New York Stock Exchange.
Why it matters: Despite Silicon Valley's spike in interest in the direct listing as an alternative to the traditional IPO, Asana will be only the third company to take that route after Spotify in 2018 and Slack last year.
Unity Software, a San Francisco-based company known for its popular video game engine, has filed to go public on the New York Stock Exchange under the ticker symbol "U."
Why it matters: The company's move comes at a time when its main rival, Epic Games' Unreal video games engine, is under a cloud as its parent company faces expulsion from the Apple App Store.
The Republican National Convention kicks off this evening, with plans to lay out an economic vision different from what the Democrats presented last week.
Axios Re:Cap speaks with Jason Miller, a senior adviser to the Trump campaign, about where the economy has been, where it's at, and where Trump wants to take it in a second term.
Luminar Technologies, a Palo Alto-based developer of auto lidar sensors, agreed to go public via a reverse merger with Gores Metropoulos, a SPAC sponsored by private equity firm the Gores Group.
Why it matters: SPACs and futuristic auto tech have become the peanut butter and jelly of the capital markets, able to exist independently but more often found together.
TikTok is suing the Trump administration over the president's executive order to ban the app unless it's sold to a U.S. company, arguing it's no security threat and that it was deprived due process.
Why it matters: There are bipartisan concerns that TikTok, owned by Chinese company ByteDance, could share U.S. user data with Beijing. TikTok has lobbied aggressively to dispel those accusations and now says the executive order is invalid because the government has failed to prove that point.
TikTok is expected to sue the Trump administration Monday over its move to ban the app, in what's likely to be an explosive and closely watched court battle.
Why it matters: The Trump administration has given ByteDance, TikTok's Chinese parent company, a deadline to divest its U.S. operations or else see its massively popular social video app banned.
A steady drip of criticism over Apple's App Store policies has become a torrent, as even other tech giants feel emboldened to pile on — but Apple's path to satisfying its critics is uncertain.
Why it matters: Apple's policies aren't that different from those governing other digital marketplaces, but its size and inflexibility could fuel regulatory action from antitrust authorities in the U.S. and beyond.
Early readings of IHS Markit's manufacturing and services purchasing managers' indexes rose by more than expected in August, showing continued improvement in expectations and output among U.S. firms.
By the numbers: The manufacturing index rose by 2.7 points month over month to 53.6, continuing the series' rise from 50.9 in July.
The Census Bureau released new phase two data from its Small Business Pulse survey last week, showing some of the sectors most impacted by the coronavirus pandemic.
What they found: Hiring and rehiring have slowed and businesses now broadly say they expect recovery from the pandemic to take much longer than previously thought.
China is moving ahead "rapidly" with its version of a central bank-issued digital currency and the Fed looks to be prioritizing development and moving forward with urgency to produce one in the U.S. as well.
Why it matters: Digital currencies would provide a number of new policy tools to help stimulate the economy, including allowing Congress to send money more quickly and efficiently to Americans or facilitating direct transmissions from the Fed to consumers.
President Trump made lots of specific economic promises to voters during his 2016 campaign, but only fulfilled some of them before the pandemic plunged America into recession.
Why it matters: Trump's economic record and promises for future prosperity will be front and center during this week's Republican National Convention.
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