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The front page of the final edition of Apple Daily newspaper at a newsstand in Hong Kong on June 24. Photo: Ivan Abreu/SOPA Images/LightRocket via Getty Images

The Apply Daily, Hong Kong's last pro-democracy newspaper, printed and sold 1 million copies of its final edition on Thursday, according to AP.

Why it matters: The newspaper said it's being forced to shut down after Hong Kong police froze $2.3 million of its assets and arrested arrested five senior executives under China's national security law.

  • The newspaper typically only prints around 80,000 copies, according to AP.

The paper's forced closure is another sign of China tightening its grip on the once semi-autonomous city by cracking down on rights and freedoms previously enjoyed by those living there.

  • The security law Beijing passed last year gave the Hong Kong government broad power to limit people's political freedom.

What they're saying: "This is our last day, and last edition, does this reflect the reality that Hong Kong has started to lose its press freedom and freedom of speech?” Dickson Ng, a graphic designer for the Apple Daily, asked the AP.

  • “Why does it have to end up like this?”

The big picture: The front page of the Apply Daily's final edition carried an image of an employee for the newspaper waving at supporters surrounding its office with a headline reading, “Hong Kongers bid a painful farewell in the rain, ‘We support Apple Daily,'" according to AP.

  • It's unclear if the Apply Daily's shutdown will cause other media outlets, such as the English-language South China Morning Post, to become more reserved in their coverage of Hong Kong and on mainland China issues.

Go deeper: Hong Kong to censor movies under China's national security law

Go deeper

Wall Street's wobble disrupts record stock market boom

People walk by the New York Stock Exchange earlier this month. Photo: Spencer Platt/Getty Images

Monday interrupted a stretch of calm amid the historic stock market boom underway since March 2020.

Driving the news: Jitters were apparent nearly everywhere.

Austria approves COVID vaccine mandate for adults

A vaccination center installed at the Barbara Chapel of St Stephen's Cathedral in Vienna, Austria. Photo: Alex Halada/AFP via Getty Images

Austria's lower house of parliament voted on Thursday in favor of making COVID-19 vaccinations compulsory for most adults from next month.

Why it matters: The bill is expected to soon pass the upper house and be signed by President Alexander Van der Bellen in order for the law to take effect Feb. 1, per Reuters. It'd make Austria the first EU nation to impose such a sweeping mandate.

Hope King, author of Closer
Updated 5 hours ago - Economy & Business

Peloton pumps its brakes

Data: FactSet; Chart: Axios Visuals

Peloton’s popularity is falling as swiftly as it shot up.

Why it matters: Not all pandemic habits stick around. Peloton's trajectory over the past two years exemplifies how challenging it's been for companies to gauge shifts in consumer demand — particularly in sectors heavily altered by the pandemic.