Illustration: Aïda Amer/Axios

Apollo Global Management and Silver Lake are in "advanced talks" to invest around $1 billion in travel-booking portal Expedia (Nasdaq: EXPE), per the Wall Street Journal.

Why it matters: Private equity has begun bargain-hunting, and Apollo and Silver Lake have emerged as the most eager coupon-clippers.

  • Details: Expedia closed trading yesterday with a market cap just north of $8 billion, having fallen around 50% this year. The new investors would be expected to receive a board seat.
  • Added intrigue: Silver Lake just invested in Airbnb, which competes with Expedia's HomeAway platform.
  • The bottom line: "Companies of all stripes — but especially in the travel sector — have been drawing down on credit lines and looking for other ways to stockpile cash to withstand potentially months of social-distancing measures. Expedia’s peers, including Sabre and Booking Holdings, have both issued new debt in recent weeks." — Cara Lombardo, WSJ

Go deeper: Travel fears at their highest since 9/11 due to coronavirus

Go deeper

GM's high-stakes electric move

The Cadillac Lyriq. Image courtesy of Cadillac

Cadillac on Thursday unveiled the Lyriq, the luxury brand's first all-electric model and GM's first consumer electric vehicle unveil since the Chevy Bolt several years ago.

Why it matters: It's the first reveal by GM of an electric vehicle that will use the company's new modular platform and Ultium battery system — technologies meant to underpin the 20 electric vehicles that GM plans to launch by 2023.

Trump's TikTok and WeChat actions ratchet up the pressure on China

Illustration: Aïda Amer/Axios

President Trump escalated his campaign to claw apart the Chinese and American tech worlds Thursday evening, issuing executive orders that threaten to ban both TikTok and massive global messaging app WeChat.

The big picture: Trump's orders come against a backdrop of heightening tension with China, the steady unfolding of a hard "decoupling" between the world's two largest economies, and the Trump campaign's effort to wave a "tough on China" banner.

Updated 36 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 9 a.m. ET: 19,128,901 — Total deaths: 715,555— Total recoveries — 11,591,028Map.
  2. U.S.: Total confirmed cases as of 9 a.m. ET: 4,884,406 — Total deaths: 160,111 — Total recoveries: 1,598,624 — Total tests: 59,652,675Map.
  3. Politics: Trump floats executive action even if stimulus deal is reached.
  4. Business: U.S. economy adds 1.8 million jobs in July — Household debt and credit delinquencies dropped in Q2.
  5. Sports: The pandemic's impact on how sports are played.
  6. 1 🎮 thing: Video gaming growth soars.