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

Ben Geman, author of Generate
38 mins ago - Energy & Environment

Oil's turbulent long-term future

Illustration: Aïda Amer/Axios

The oil sector is facing risks from all sides.

Why it matters: Risk in the industry is nothing new. But these are especially turbulent and uncertain times. The industry's market clout has waned, the future of demand is kind of a mystery, and future U.S. policy is too, just to name three.

Meadows on Wray's voter fraud dismissal: "He has a hard time finding emails in his own FBI"

White House chief of staff Mark Meadows dismissed FBI Director Chris Wray's testimony that the U.S. has never historically seen evidence of widespread voter fraud, including by mail, during an appearance on "CBS This Morning" on Friday.

Why it matters: Meadows' statement highlights the Trump administration's strategy to sow doubt in November's election results by challenging the legitimacy of mail-in ballots, which are expected to skew heavily in Democrats' favor.

The next cliff for the unemployed

Illustration: Sarah Grillo/Axios

A program supporting Americans who are typically ineligible for unemployment benefits will expire at the end of the year, with millions still relying on it as the labor market sputters.

Why it matters: The result could be catastrophic for the economic recovery that Wall Street fears is already fragile.

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