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A view above Ellesmere Island, Canada, in 2017.

Canada's only ice shelf broke apart due to a hot summer and climate change, the AP reports.

Why it matters: Ice shelves are between hundreds and thousands of years old and bulkier than long-term sea ice. Their disappearance from Canada showcases how the Arctic has warmed faster than the rest of globe.

What they're saying: “There aren’t very many ice shelves around the Arctic anymore,” University of Ottawa glaciology professor Luke Copland told the AP.

  • “It seems we’ve lost pretty much all of them from northern Greenland and the Russian Arctic. There may be a few in a few protected fjords.”

By the numbers: Temperatures in the region have been 9 degrees warmer than the 1980-2010 average from May to early August, Copland said.

The big picture: The shelf, located on the northwestern boundary of Ellesmere Island, broke into two large icebergs that started drifting away. One is the size of Manhattan.

Go deeper: The rising seas global warming has already locked in

Go deeper

Dan Primack, author of Pro Rata
Aug 7, 2020 - Economy & Business

Intercontinental Exchange to buy mortgage software provider Ellie Mae

Illustration: Aïda Amer/Axios

Intercontinental Exchange agreed to buy Ellie Mae, a Pleasanton, Calif.-based provider of mortgage finance software, from Thoma Bravo for $11 billion.

Why it matters: This is the largest acquisition ever for Intercontinental Exchange, as it only spent $8.2 billion to buy the New York Stock Exchange in 2012. It also pushes ICE much further into the mortgage finance market, following smaller deals for MERS (2016) and Simplifile (2019).

“You blew it”: GOP activist turns on corporations over vaccine mandates

The chairman of the American Conservative Union said on "Axios on HBO" he accepts "Joe Biden is my president, and I want him to succeed," but predicted Republicans retake the House and Senate in 2022 — with greater than 50% odds Donald Trump runs in 2024.

The big picture: In a joint interview with his wife, Mercedes, Matt Schlapp also refused to share their vaccination status. And he told corporate America "you blew it" by embracing vaccine mandates and liberal social stances that have alienated GOP voters and politicians.

26 mins ago - Politics & Policy

Pelosi expects “billionaire’s tax” to pay for Biden social spending

Photo: Yasin Ozturk/Anadolu Agency via Getty Images

House Speaker Nancy Pelosi (D-Calif.) said Sunday she expects the chamber to pass the bipartisan infrastructure plan by week’s end, and alternatives to corporate tax hikes and a “billionaires tax” will be used to finance President Biden’s promised expansion to the social safety net.

Why it matters: Pelosi’s comments come as House and Senate leaders try to wrap up a deal. What will get cut — and how the remainder will be paid — are linchpins to a final agreement.