May 8, 2018

The European Union moves to protect firms from U.S. sanctions

European Union member flags in Parliament Square. Photo: Alberto Pezzali/NurPhoto via Getty Images

European Union leaders are making moves to protect European companies from U.S. sanctions as foreign policy differences between the EU and U.S. continue to drift apart, the Wall Street Journal reports.

The state of play: The EU has long opposed sanctions against countries such as Russia, Iran and Cuba and with the U.S. pulling out of the 2015 Iran nuclear deal, sanctions could return, with European firms likely paying premium.

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MLB's Rob Manfred is latest villain in Astros' cheating scandal

Illustration: Aïda Amer/Axios

MLB Commissioner Rob Manfred's decision to grant Astros players immunity in exchange for confessions about their sign-stealing scheme has undermined his reputation — and he only made himself look worse on Sunday.

The interview: In a 45-minute conversation with ESPN, Manfred asserted that public shame was punishment enough for the Astros. He also called the World Series trophy "just a piece of metal" and said that taking a title away from Houston "seems like a futile act."

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Economists warn coronavirus risk far worse than realized

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Worries are growing that the economic impact from the novel coronavirus outbreak will be worse than expected and that markets are being too complacent in factoring it in as a risk.

What's happening: The number of confirmed cases has already far outpaced expectations and even those reports are being viewed through a lens of suspicion that the Chinese government is underreporting the figures.

National newspapers thrive while local outlets struggle to survive

Illustration: Sarah Grillo/Axios

While big national newspapers grow stronger, local newspaper chains that have for decades kept the vast majority of the country informed are combusting.

Why it matters: The inequity between giants like the New York Times and the Wall Street Journal and their local counterparts represents a growing problem in America as local communities no longer have the power to set the agenda for the news that most affects them.