Axios

Oklahoma, Indiana and Texas are the latest Republican-led states to say they'll prematurely cut off the more generous unemployment benefits next month.

The big picture: The money has kept millions of Americans afloat while the pandemic took a historic toll on the economy. The states' governors say slimmed-down payments will help with widespread reports of worker shortages in their states.

Wealthy investors and business owners overwhelmingly support the Biden administration's infrastructure plan, according to a new UBS survey.

Yes, but: It starts to drop off for "social infrastructure" initiatives, like child care services and elderly care.

A growing number of companies are facing investor backlash against fat C-suite pay packages.

Why it matters: Shareholders are eyeing pay more closely after a year that crushed the economy, decimated some businesses (and displaced their workers) — but still left some top executives with hefty payouts.

President Biden issued an executive order Thursday that directs agencies government-wide to launch or expand efforts to analyze and lessen economic risks stemming from climate change.

Why it matters: The order lays the groundwork for new oversight and mandates that would affect banking and other sectors. It signals growing concerns that the government lacks sophisticated understanding of how global warming creates new or growing jeopardy for financial and government institutions and consumers.

The number of vaccinated U.S. Latinos is increasing after months of unequal access, but hurdles remain for this especially hard-hit group to get COVID-19 vaccines at the same rate as others.

Why it matters: President Biden wants 70% of U.S. adults vaccinated by July 4.

During the third week of the Epic-Apple trial, Apple executives have portrayed their company as a benevolent and helpful gatekeeper to iPhone users and app developers.

Why it matters: It's been Apple's turn to present its side in a trial that will determine whether its restrictions on its app store are illegally monopolistic.

Robinhood, the no-fee trading app, said Thursday it would gradually roll out features allowing users to buy company shares at their IPO price.

Why it matters, via Axios' Kia Kokalitcheva: Investing into IPOs has historically been reserved for Wall Street insiders, but this move is in line with Robinhood's image of "democratizing investing."

Snapchat on Thursday debuted a slew of new products and user metrics for things like games and augmented reality lenses that have been built using Snapchat's developer tools.

Why it matters: It's an important milestone in Snapchat's transformation from a social network to a camera company that caters to developers.

The Treasury Department on Thursday unveiled new tax compliance measures that it estimates will raise an additional $700 billion in tax revenue over the next decade, before raising $1.6 trillion in the second decade.

Why it matters: The initiatives are part of President Biden’s American Families Plan agenda and they aim to close the “tax gap” between what the government is owed and what is actually paid.

Twitter has begun rolling out a new verification process and says moving forward, it will accept and review all public applications for verification on Twitter. 

Why it matters: Executives told press during a briefing Wednesday that for a long time, people have complained that the verification process felt unfair.

Roivant Sciences, a New York-based drug development firm that recently agreed to go public via SPAC, will offer to buy Immunovant, a former Roivant subsidiary that was sold to a SPAC in 2019.

Why it matters: This appears to be the first-ever transaction of its kind, which means we get to name it. My suggestion is deSPAC/reSPAC, but you're encouraged to propose snappier ones.

Josh Harris is stepping down from his day-to-day Apollo Global Management, the alternative investment giant he co-founded in 1990, after losing a succession battle.

Between the lines: This is the latest domino to fall from the relationship between fellow Apollo co-founder Leon Black and Jeffrey Epstein, which ultimately resulted in Black's resignation as both CEO and chairman.

The Alliance for Market Solutions, a group trying to get political traction for carbon taxes, is launching a new advocacy campaign that counts ExxonMobil and Dow among its backers.

Why it matters: It's the first corporate support for the group that's seeking to win support among conservative lawmakers. The alliance had for years relied only on individual contributions.

U.S. markets needed liquidity last year, and the government helped provide it. Now, by at least one measure, that liquidity is starting to erode bank margins.

What’s new: Net interest margins at U.S. banks reached record lows on average in Q1 2021, according to new data from S&P Global Market Intelligence. That's largely due to a glut of cash sitting on bank balance sheets, along with the low-rate environment.

Binance and Coinbase, the world’s two largest cryptocurrency exchanges, both had service disruptions Wednesday that intensified a crypto selloff.

Why it matters: It’s a signal that the exchanges are still not equipped to handle the full breadth of the mania. Hundreds of billions in investor money are at stake after crypto’s explosive rise this past year.

People expect corporations and CEOs to continue addressing the most pressing social and political issues even after the pandemic is over, according to new data.

Why it matters: While this provides opportunities for some companies to grow, it also puts more pressure on CEOs and business leaders to address more than just shareholder returns.

Inequality in the U.S. is worsening by many measures — especially when it comes to employment.

Driving the news: The Job Quality Index (JQI), a measurement of "high" to "low quality" jobs in the U.S. private sector, has fallen from 81.1 in 2007 to 80.5 last year.

Big name investors are putting new capital behind "climate intelligence" — the sophisticated analytics that companies and governments will need to uncover and reduce risk in a warming world.

Why it matters: With the effects of climate change already visible in the form of extreme weather events and sea level rise, companies face increasing pressure from investors and regulators to grapple with their climate-related vulnerabilities.

Fortune 500 firms have been scrambling to hire chief diversity officers in response to racial justice protests in the year since George Floyd's death — but just filling that seat isn't enough.

The big picture: Companies' top diversity executives too often lack the power or resources to effect real change, and many get frustrated, leading to constant churn. But firms will have to figure out the role of CDO if they want to attract new talent and customers, experts say.

Central banks around the globe are beginning to eye the exit ramp.

Why it matters: As parts of the world are starting to rebound from the depth of the pandemic, investors are sketching out timetables for when central banks will pull back on those pandemic-era emergency programs that have helped ignite a financial asset boom.

Zhang Yiming, co-founder of TikTok owner ByteDance, is stepping down as CEO and moving to a new role, the company said in a memo released Thursday.

Why it matters: The replacement of Zhang with human resources chief Liang Rubo, another TikTok co-founder, marks the "biggest corporate shake-up" at the firm since it launched in 2012, going on to become a major social media player in China and turning TikTok into a massive global force, per Reuters, which first reported the news.

The New York attorney general's office has begun a criminal tax investigation into Trump Organization chief financial officer Allen Weisselberg, CNN first reported Wednesday.

Why it matters: Weisselberg has not been accused of any wrongdoing, but investigators are pushing for him to cooperate with them in their investigation into former President Trump's organization, per CNN and the New York Times.

Electric vehicles have finally hit the mainstream: America's most popular model, the Ford F-series pickup truck, is going electric at a decidedly mass-market price: $39,974.

Why it matters: Until now, EVs have appealed mostly to wealthy technology fans or environmentalists. But the F-150 Lightning is aimed at everyday truck owners — making it a potential turning point in the electric vehicle revolution.