A trader on the floor of the New York Stock Exchange. Photo: Bryan R. Smith/AFP/Getty Images

"North American companies unleashed a dealmaking spree totaling more than $50bn [yesterday], as executives ignored a pending trade war and uncertainty around US midterm elections to swallow European rivals in a series of industry-changing mergers," per the Financial Times (subscription).

Why it matters: "Boardroom confidence, cheap debt and record stock prices have spurred a wave of activity that left global dealmaking at a record high of $3.2tn in 2018. ... Companies are racing to remake themselves by snatching trophy assets or consolidating with rivals before the business cycle turns."

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Michael Cohen taken back into federal custody

Michael Cohen arrives at his Park Avenue apartment on May 21 in New York City. Photo: Johannes Eisele/AFP via Getty Images

President Trump's disgraced former personal lawyer Michael Cohen is heading back to prison after refusing the conditions of his home confinement, according to two people familiar with the situation.

Details: A New York Post report earlier this month placed Cohen out at a restaurant in New York with his wife, while one of the sources said that more broadly he refused to wear an ankle bracelet.

U.S. sanctions Chinese officials over Uighur human rights abuses

Photo: Xinhua/Liu Jie via Getty Images

The Treasury Department announced Thursday that the U.S. has sanctioned four Chinese Communist Party officials and the Xinjiang Public Security Bureau for human rights abuses against Uighur Muslims and other ethnic minorities in Xinjiang.

Why it matters: The sanctions designations, pursuant to the Global Magnitsky Act passed by Congress in 2016, mark a significant escalation in the Trump administration's response to the Chinese government's detainment of over 1 million Uighurs in internment camps.

Updated 29 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 2 p.m. ET: 12,118,667 — Total deaths: 551,271 — Total recoveries — 6,649,930Map.
  2. U.S.: Total confirmed cases as of 2 p.m. ET: 3,081,383 — Total deaths: 132,570 — Total recoveries: 953,420 — Total tested: 37,431,666Map.
  3. Public health: Cases rise in 33 statesFlorida reports highest single-day coronavirus death toll since pandemic began.
  4. Science: World Health Organization acknowledges airborne transmission of coronavirus.
  5. Travel: Young adults are most likely to have moved due to coronavirus.