Impossible Burger patties. Photo: Impossible Foods

Impossible Foods, a company developing a plant-based meat alternative and known for its burgers, has raised $114 million in a convertible note led by Singapore's Temasek and Sailing Capital.

Why it matters: There's a growing interest in plant-based alternatives to animal foods, and companies like Impossible Foods, Just, and others have been racing to meet that need.

Impossible Foods would like to some day offer not just ground meat, but alternatives to fish, chicken, steak, eggs and cheese. The company raised $75 million last year via a convertible note.

How it works: Impossible makes its burger "meat" from something called soy leghemoglobin, produced from genetically modified yeast and a fermentation process. "Our scientists spent so much time and effort studying a single molecule -- heme -- because heme is what makes meat taste like meat," Impossible Foods CEO and Founder Patrick Brown said in a statement.

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Biden says he will appoint commission on Supreme Court reform

Photo: Chip Somodevilla/Getty Images

Joe Biden told CBS' "60 Minutes" this week that if elected, he would put together a bipartisan commission to study the federal court system and make recommendations for reform.

Why it matters: Biden has come under pressure to clarify his position on court packing after some Democrats suggested expanding the court if Senate Republicans confirm President Trump's Supreme Court nominee Amy Coney Barrett.

Dion Rabouin, author of Markets
44 mins ago - Economy & Business

Wall Street still prefers bonds

Illustration: Aïda Amer/Axios. Photo: Sunset Boulevard/Getty Contributor

Investors' return on U.S. corporate bonds has been falling since its August peak, but buying has only accelerated, especially in investment grade bonds that are offering historically low yields.

The state of play: Since hitting its 2020 high on Aug. 4, the benchmark Bloomberg Barclays U.S. bond aggregate has delivered a -2.2% return. (For comparison, the S&P 500 has gained 3.9% during the same time period.)