Esteban Felix / AP

Facebook announced a new initiative Wednesday called the "Facebook Journalism Project" that aims to strengthen its relationship with the news industry.

What's in it:

  • Testing new storytelling formats: Facebook will begin testing packages of stories within Instant Articles so readers can see multiple stories from the same news outlet at the same time.
  • Free resources for journalists: Facebook will now conduct a series of free "e-learning courses" on Facebook products and tools for journalists. They will also offer journalists free CrowdTangle subscriptions for social media monitoring. They will also begin trainings for local newsrooms through non-profit news organizations and academia.
  • More resources to curb fake news: They announced another program to work with third-party fact checkers to identify hoaxes on Facebook. They also announced partnerships with non-profits and academia to help promote news literacy.

Smart take: Technology companies are typically averse to acknowledging their role in media distribution, as it forces them to consider a public good as opposed to profit.

But there is likely a business motive behind this. Advertisers won't continue to place a premium on data being driven by social platforms that enable misleading news. According to North 6th Agency CEO Matt Rizzetta, Facebook's move draws a clear line between major social media entities and traditional media influencers using their platform.

Why this matters: Theres going to be a greater premium placed on speed for traditional publishers. According to Rizetta, "Mainstream media will need to counter Facebook's news quality with expediency."

We hear you, Mark: This is the third major move announcement Facebook has rolled out in a month to help filter for better news quality. Last month, they announced a fact-checking initiative with the likes of AP and Politifact. Then they announced last week that they're hiring former NBC and CNN news anchor Campbell Brown to head up the inaugural News Partnership Team.

Go deeper

Dion Rabouin, author of Markets
1 hour ago - Economy & Business

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Illustration: Aïda Amer/Axios

The death of Justice Ruth Bader Ginsburg and President Trump's vow to name her replacement to the Supreme Court before November's election are amplifying Wall Street's worries about major volatility and market losses ahead of and even after the election.

The big picture: The 2020 election is the most expensive event risk on record, per Bloomberg — with insurance bets on implied volatility six times their normal level, according to JPMorgan analysts. And it could take days or even weeks to count the record number of mail-in ballots and declare a winner.

Election clues county by county

Ipsos and the University of Virginia's Center for Politics are out with an interactive U.S. map that goes down to the county level to track changes in public sentiment that could decide the presidential election.

How it works: The 2020 Political Atlas tracks President Trump's approval ratings, interest around the coronavirus, what's dominating social media and other measures, with polling updated daily — enhancing UVA's "Crystal Ball."

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Coronavirus dashboard

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  1. Global: Total confirmed cases as of 3 a.m. ET: 31,605,656 — Total deaths: 970,934 Total recoveries: 21,747,491Map.
  2. U.S.: Total confirmed cases as of 3 a.m. ET: 6,897,432 — Total deaths: 200,814 — Total recoveries: 2,646,959 — Total tests: 96,612,436Map.
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  4. Politics: Elected officials are failing us on much-needed stimulus.
  5. Business: Two-thirds of business leaders think pandemic will lead to permanent changes — Fed chair warns economy will feel the weight of expired stimulus.
  6. Sports: NFL fines maskless coaches.

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