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Photo by Sven Nackstrand/Getty Images

Israel's Elbit Systems has agreed to buy IMI Systems, a weapons maker known for Uzi submachine guns, for around $523 million from the Israeli government (which announced plans to privatize IMI back in 2013).

Why it matters: Because it likely would create Israel's largest defense contracting company.

Go deeper at Haaretz: "The deal will create a company with a heavy emphasis on research and development, and whose product range will extend from IMI’s shoulder-launched missiles, precision-guided mortar munitions and rocket-propulsion systems to Elbit’s portfolio of avionic systems, drones and intelligence and cybertechnology."

Go deeper

Biden embarks on a consequential presidency

Photo illustration: Sarah Grillo/Axios. Photo: Joe Raedle/Getty Images

Donald Trump tried everything to delegitimize the rival who vanquished him. In reality, he's set Joe Biden on course to be a far more consequential U.S. president than he might otherwise have become.

The big picture: President Biden now confronts not just a pandemic, but massive political divisions and an assault on truth — and the aftermath of the assault on the Capitol two weeks ago that threatened democracy itself.

Updated 15 mins ago - Politics & Policy

Inauguration Day dashboard

U.S. Capitol and stage are lit at sunrise ahead of the inauguration of Joe Biden. Photo: Patrick Semansky - Pool/Getty Images

President Biden has delivered his inaugural address at the Capitol, calling for an end to the politics as total war but warning that "we have far to go" to heal the country.

What's next: Representatives from all branches of the military escort the 46th president to the White House.

Inaugural address: Biden vows to be "a president for all Americans"

Moments after taking the oath of office, President Biden sought to soothe a nation riven by political divisions and a global pandemic, while warning that "we have far to go" to heal the country and defeat a "virus that silently stalks the the country."

Why it matters: From the same steps that a pro-Trump mob launched an assault on Congress two weeks earlier, the new president paid deference to the endurance of American political institutions.