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FirstEnergy Solutions files for bankruptcy

Erica Pandey, author of @Work

A coal-fired power plant in Arizona. Photo: Education Images / UIG via Getty Images

FirstEnergy Solutions Corp., a coal and nuclear power generator, has filed for bankruptcy, per Bloomberg. Just last week, the company made the decision to close three nuclear facilities in Pennsylvania and Ohio.

The big picture: After the plant closure announcement, FirstEnergy Solutions controversially petitioned Energy Secretary Rick Perry for an emergency order that would allow coal and nuclear generators in the Northeast to meet their operating costs.

Go deeper

Dion Rabouin, author of Markets
40 mins ago - Economy & Business

How the tech stock selloff is hurting average Americans

Expand chart
Data: FactSet; Chart: Axios Visuals

Investors holding the ultra-popular Nasdaq 100 and S&P 500 index funds have been hard hit over the last two weeks as tech shares have been roiled by rising U.S. Treasury yields.

Why it matters: Even though the economy is growing and many U.S. stocks are performing well, most investors are seeing their wealth decline because major indexes no longer reflect the overall economy or even a broad swath of public companies — they reflect the performance of a few of the country's biggest companies.

Go deeper (1 min. read)Arrow
Fadel Allassan
1 hour ago - World

UN rights chief: At least 54 killed, 1,700 detained since Myanmar coup

A Feb. 7 protest in Yangon, Myanmar. Photo: Getty Images/Getty Images

Police and military officers in Myanmar have killed at least 54 people during anti-coup protests, while "arbitrarily" detaining over 1,700 people, United Nations Human Rights Commissioner Michelle Bachelet said Thursday.

Why it matters: Protesters have demonstrating across Myanmar for nearly a month, demanding the restoration of democracy after the country's military leaders overthrew its democratically elected government on Feb. 1.

Go deeper (1 min. read)Arrow
Sam Baker
2 hours ago - Health

The danger of a fourth wave

Expand chart
Data: The COVID Tracking Project, state health departments; Note: Anomalous Arkansas case data from Feb. 28 was not included in the calculated change; Map: Andrew Witherspoon/Axios

The U.S. may be on the verge of another surge in coronavirus cases, despite weeks of good news.

The big picture: Nationwide, progress against the virus has stalled. And some states are ditching their most important public safety measures even as their outbreaks are getting worse.

Go deeper (2 min. read)Arrow