Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!
Data: Fortune 500, Axios analysis of company statements, get the data; Chart: Andrew Witherspoon, Naema Ahmed/Axios

Since our Monday story on Fortune 100 companies' donations to battle racism and inequality, the tally has risen to more than $2 billion and now includes 50 firms, according to company announcements and an Axios analysis.

Why it matters: Pressure is growing for wealthy corporations to speak out on social issues and to back up those words with sizable funding. More are doing so than ever before and in a much more public way.

  • Over the past week, PepsiCo announced a $400 million contribution over five years to "lift up Black communities and increase Black representation" at the company.
  • Less public-facing companies like AbbVie, Dow Chemical and Caterpillar are also joining in, with each announcing commitments of over $1 million.

By the numbers: The top 10 companies account for the lion's share of money pledged, with $1.86 billion of the $2.05 billion total.

  • The top 10 companies have committed to an average of 1.14% of their 2019 profits. That raises the average by about 6 times from what it was as of Monday.
  • The other 40 companies have committed 0.05% of their 2019 profits.

Yes, but: The donations are still literally pennies on the dollar when compared to the collective $500 billion in profits made last year and many lack specific details on how the companies plan to ensure their donations will make a difference.

  • Activists say they want to see increased hiring and retention of black workers as well as increased wages for existing employees in addition to the monetary commitments.

Between the lines: Most of the companies that donated (and some that did not) have made bold, unequivocal statements condemning racism and clearly voicing support for the victims of police killings.

  • At least 29 of the Fortune 100 companies have released statements including the word "racism."

What they're saying: "As people around the world demand justice for George Floyd, Ahmaud Arbery, Breonna Taylor, Rayshard Brooks and far too many others, we have been thinking hard about how PepsiCo can help dismantle the systemic racial barriers that for generations have blocked social and economic progress for Black people in this country," PepsiCo chairman and CEO Ramon Laguarta said in a LinkedIn post announcing the commitment on Monday.

  • "We know that the first step toward change is to speak up, so I want to be very clear: Black Lives Matter, to our company and to me."

Go deeper

Stock buybacks stage a comeback

Source: S&P Dow Jones Indices; Chart: Naema Ahmed/Axios

A slew of companies put stock buyback plans on ice at the onset of the pandemic. Now some of them are beginning put share repurchases back on the table.

Why it matters: The ramping up of stock buybacks is a sign that swaths of corporate America feel confident enough to return to some sense of normalcy, even as millions of Americans are still dealing with the harsh fallout from the coronavirus-hit economy.

Felix Salmon, author of Capital
Aug 27, 2020 - Economy & Business

A tale of two direct listings

Illustration: Lazaro Gamio/Axios

This was a big week for you, if you're a Facebook billionaire looking to take your money-losing post-Facebook company public by doing a direct listing of shares on the New York Stock Exchange.

Details: Asana was founded by Facebook co-founder Dustin Moskovitz in 2008; Palantir was founded by Facebook investor and board member Peter Thiel in 2003. Both companies released their full financials this week.

DHS directing $77 million to combat domestic violent extremism in states, cities

DHS Secretary Alejandro Mayorkas. Photo: Tasos Katopodis/Getty Images

For the first time, states and localities will spend at least $77 million of Department of Homeland Security grant money on combatting domestic violent extremism, DHS Secretary Alejandro Mayorkas announced on Thursday.

Why it matters: Domestic terrorism has been on the rise in the U.S., spurred on by growing polarization and the mainstreaming of online conspiracy theories. In the wake of the Jan. 6 Capitol attack, Mayorkas has made fighting the problem a "National Priority Area."