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The Morandi Bridge after its collapse. Photo: Jack Taylor/Getty Images

Italy will introduce an infrastructure plan in September aimed at improving the country's bridges, highways and public buildings, according to a government official, reports Reuters.

Why it matters: The collapse of the Morandi Bridge in Genoa this week left at least 42 people dead and prompted the government to launch an investigation into Autostrade, the Italian toll road operator responsible for maintaining the motorway. Italy already has the second-highest public debt in Europe and faces a potential downgrade in its credit rating from three agencies, raising questions about how the government will finance the "enormous investment."

Go deeper

Ben Geman, author of Generate
10 mins ago - Economy & Business

Tesla's wild rise and European plan

Tesla's market capitalization blew past $500 billion for the first time Tuesday.

Why it matters: It's just a number, but kind of a wild one. Consider, via CNN: "Tesla is now worth more than the combined market value of most of the world's major automakers: Toyota, Volkswagen, GM, Ford, Fiat Chrysler and its merger partner PSA Group."

Dave Lawler, author of World
52 mins ago - World

China's Xi Jinping congratulates Biden on election win

Photo: Paul J. Richards/AFP via Getty Images

Chinese President Xi Jinping sent a message to President-elect Biden on Wednesday to congratulate him on his election victory, according to the Xinhua state news agency.

Why it matters: China's foreign ministry offered Biden a belated, and tentative, congratulations on Nov. 13, but Xi had not personally acknowledged Biden's win. The leaders of Brazil, Mexico and Russia are among the very few leaders still declining to congratulate Biden.

Kendall Baker, author of Sports
2 hours ago - Sports

College basketball is back

Illustration: Sarah Grillo/Axios

A new season of college basketball begins Wednesday, and the goal is clear: March Madness must be played.

Why it matters: On March 12, 2020, the lights went out on college basketball, depriving teams like Baylor (who won our tournament simulation), Dayton, San Diego State and Florida State of perhaps their best chance to win a national championship.