Pablo Martinez Monsivais / AP

Reuters reports a bizarre story today that details how Mylan, the pharmaceutical company that has been lambasted for drastically raising prices of EpiPens, also earns a decent chunk of money from...coal operations.

Why Mylan invests in refined coal: Tax credits. The coal operations lose money, but Mylan is able to claim hefty clean energy tax credits. In 2016 alone, that gave Mylan "an effective tax rate of negative 294 percent" and boosted earnings by at least $40 million, Reuters reports. Mylan already enjoys a low corporate tax rate after it parked its headquarters in the Netherlands in 2015.

Why it matters: It's another instance of financial engineering that hangs over Mylan, which will face angry investors at its shareholder meeting tomorrow.

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Dave Lawler, author of World
44 mins ago - World

A hinge moment for America's role in the world

Photo illustration: Aïda Amer/Axios. Getty Images photo: Saul Loeb/AFP

The world may be living through the last gasps of America First — or just getting a taste of what's to come.

Why it matters: President Trump's message at this week's virtual UN General Assembly was short and relatively simple: global institutions like the World Health Organization are weak and beholden to China; international agreements like the Iran deal or Paris climate accord are "one-sided"; and the U.S. has accomplished more by going its own way.

New York daily coronavirus cases top 1,000 for first time since June

Photo: Chip Somodevilla/Getty Images

New York on Friday reported more than 1,000 new coronavirus cases for the first since June.

Why it matters: The New York City metropolitan area was seen as the epicenter of the COVID-19 pandemic throughout the spring. But strict social distancing and mask mandates helped quell the virus' spread, allowing the state to gradually reopen.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 2 p.m. ET: 32,647,382 — Total deaths: 990,473 — Total recoveries: 22,527,593Map.
  2. U.S.: Total confirmed cases as of 2 p.m. ET: 7,053,171 — Total deaths: 204,093 — Total recoveries: 2,727,335 — Total tests: 99,488,275Map.
  3. States: U.S. reports over 55,000 new coronavirus cases.
  4. Health: The long-term pain of the mental health pandemicFewer than 10% of Americans have coronavirus antibodies.
  5. Business: Millions start new businesses in time of coronavirus.
  6. Education: Summer college enrollment offers a glimpse of COVID-19's effect.