Hunter Biden. Photo: Paul Morigi/Getty Images for World Food Program USA

Hunter Biden, son of the former vice president and 2020 presidential candidate Joe Biden, will be leaving the board of BHR Equity Investment — a private equity fund backed by Chinese state-owned entities — at the end of the month, Bloomberg reports.

Why it matters: The younger Biden is leaving the board amid unsubstantiated allegations by President Trump and his personal lawyer Rudy Giuliani that he made millions of dollars from BHR Equity Investment while his father was in office. Trump has suggested that China should investigate Hunter, setting off claims by Democrats that the president is soliciting foreign election interference.

  • Trump and Giuliani have also made unsubstantiated claims that Joe Biden in 2016 used his position in the Obama administration to help stop an investigation into the owner of one of Ukraine's largest private gas companies, where Hunter was a board member.
  • The alleged pressure campaign on Ukraine's government has prompted House Democrats to launch an impeachment inquiry.

What they're saying: “Hunter always understood that his father would be guided, entirely and unequivocally, by established U.S. policy, irrespective of its effects on Hunter’s professional interests. ... He never anticipated the barrage of false charges against both him and his father by the President of the United States," Biden's lawyer said in a statement.

  • "Under a Biden Administration, Hunter will readily comply with any and all guidelines or standards a President Biden may issue to address purported conflicts of interest, or the appearance of such conflicts, including any restrictions related to overseas business interests. ... He will continue to keep his father personally uninvolved in his business affairs."

Go deeper: Biden's 2020 family problem

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Updated 57 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9:30 p.m. ET: 19,499,341 — Total deaths: 723,881 — Total recoveries — 11,864,471Map.
  2. U.S.: Total confirmed cases as of 9:30p.m. ET: 4,999,836 — Total deaths: 162,382 — Total recoveries: 1,643,118 — Total tests: 61,080,587Map.
  3. Politics: Trump signs 4 executive actions on coronavirus aid — Democrats slam Trump, urge GOP to return to negotiations
  4. Public health: Fauci says chances are "not great" that COVID-19 vaccine will be 98% effective — 1 in 3 Americans would decline COVID-19 vaccine.
  5. Science: Indoor air is the next coronavirus frontline.
  6. Schools: How back-to-school is playing out in the South as coronavirus rages on — Princeton, Johns Hopkins, Howard to hold fall classes online.

Trump signs 4 executive actions on coronavirus aid

President Trump speaking during a press conference on Aug. 8. Photo: Jim Watson/AFP via Getty Images

President Trump on Saturday signed four executive actions to provide relief from economic damage sustained during the coronavirus pandemic after talks between the White House and Democratic leadership collapsed Friday afternoon.

Why it matters: Because the Constitution gives Congress the power to appropriate federal spending, Trump has limited authority to act unilaterally — and risks a legal challenge if congressional Democrats believe he has overstepped.

9 hours ago - World

What's next for Lebanon after the Beirut explosion

Photo: Houssam Shbaro/Anadolu Agency via Getty Images

Beirut residents are still clearing rubble from streets that appear war-torn, days after a blast that shocked the country and horrified the world.

Why it matters: The explosion is likely to accelerate a painful cycle Lebanon was already living through — discontent, economic distress, and emigration.