Photo: Laura Lezza/Getty Images

The European Commission on Monday unveiled a proposal seeking to prohibit the use of single plastic products such as cutlery, plates and straws — a move connected to a larger effort by the European Union to reduce carbon emissions and garbage pollution in the ocean, Bloomberg reports.

The details: The proposed directive, which is subject to approval by EU governments and the European Parliament, member states would be required to collect 90% of single-use plastic drink bottles by 2025, and producers would have to offset the cost of waste management and label how waste will be disposed. Bloomberg adds that a projected 6.5 billion euros and the emission of 3.4 million tons of CO2 equivalent would be saved per year by 2025, the commission said.

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FBI director says China aims to become "world's only superpower"

FBI Director Christopher Wray speaks to the media during a news conference at FBI Headquarters on June 14, 2018 in Washington, DC. Photo: Mark Wilson/Getty Images

FBI Director Christopher Wray gave a speech today at the Hudson Institute in Washington, D.C. in which he laid out "more detail on the Chinese threat than the FBI has ever presented in an open forum."

Why it matters: China's increasingly aggressive behavior under General Secretary Xi Jinping is ringing alarm bells in the U.S.

14 mins ago - Health

Trump administration invests $2 billion in coronavirus drugs

A Novavax researcher prepares to test the vaccine. Photo: Andrew Caballero-Reynolds/AFP via Getty Images

The Department of Health and Human Services and Department of Defense have awarded $1.6 billion to Novavax and $450 million to Regeneron Pharmaceuticals as part of the federal government's efforts to speed up the development of coronavirus treatments.

The bottom line: Federal scientists are holding out hope that these companies' treatments, along with other vaccines in development, will snuff out the spread of the coronavirus.

Breaking down the PPP disclosure debacle

Illustration: Eniola Odetunde/Axios

The U.S. Treasury Department Monday morning released the names over 660,000 small businesses that received Paycheck Protection Program loans of at least $150,000, per its recent compromise with Congress. Well, at least that's what we thought Treasury did.

What happened: Within hours, several well-known companies and investment firms on the list denied that they had ever applied for PPP loans, let alone received them.