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GE CEO John Flannery said today the giant conglomerate was thinking of breaking itself up into separate units, the Wall Street Journal reports. Flannery said a decision could come this spring on the "best structure or structures for our businesses."

Why this matters: A breakup of the remaining operations would be "a shift from decades of deals that once made it the most valuable company in the U.S.," the WSJ wrote, and the paper's financial editor called it "an end of a long and glorious era of American industrial might."

General Electric this morning also said that it will book a $6.2 billion after-tax charge in its Q4 results, based on worse-than-expected problems related to GE Capital's insurance portfolio. GE Capital also will pay $15 billion over seven years to fill an insurance reserves shortfall. Its dividends to the parent company will remain suspended indefinitely.

  • All of this is sure to become more grist for the reported feud between former GE chief executives Jack Welch and Jeff Immelt.

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Americans reflect on Independence Day amid racism reckoning

A Black Lives Matter banner and a United States flag on the facade of the U.S. embassy building in Seoul, South Korea. Photo: Simon Shin/SOPA Images/LightRocket via Getty Images

America's leaders are rethinking how they view Independence Day, as the country reckons with the historic, unequal treatment of people of color during a pandemic which has disproportionately affected nonwhite Americans.

Why it matters: The country’s legacy of racism has come into sharp focus in the weeks of protests following the death of George Floyd while in Minneapolis police custody. From Confederate statues to Mount Rushmore, Americans are reexamining the symbols and traditions they elevate and the history behind them.

Updated 12 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 7 p.m. ET: 11,031,905 — Total deaths: 523,777 — Total recoveries — 5,834,337Map.
  2. U.S.: Total confirmed cases as of 7 p.m. ET: 2,788,395 — Total deaths: 129,306 — Total recoveries: 790,404 — Total tested: 34,213,497Map.
  3. States: ICU beds in Arizona's hot spot reach near capacity.
  4. Public health: The states where face coverings are mandatory Fauci says it has been a "very disturbing week" for the spread of the coronavirus in the U.S.
  5. Economy: The economy may recover just quickly enough to kill political interest in more stimulus.
15 hours ago - Sports

Washington Redskins to review team name amid public pressure

Photo: Patrick McDermott/Getty Images

The Washington Redskins have announced they will be conducting a review of the team's name after mounting pressure from the public and corporate sponsors.

Why it matters: This review is the first formal step the Redskins are taking since the debate surrounding the name first began. It comes after weeks of discussions between the team and the NFL, the team said.