Photo: Brooks Kraft/Getty Images

Jack Welch, the former chairman and CEO of General Electric, died at 84, according to a Monday announcement from his wife.

Why it matters: During Welch's 20 years at the helm of the conglomerate, the company's market value grew from $12 billion to $410 billion, becoming one of the world’s most valuable companies, CNBC reports. He was known for his streamlining of GE's workforce, cutting its employees by more than 100,000 at the start of his tenure to improve the company's bottom line.

Go deeper

2 mins ago - World

House report: U.S. intelligence agencies have failed to adapt to China threat

Xi Jinping and other Chinese politicians and delegates listen to the national anthem duirng the closing of the 19th Communist Party Congress in 2017. Photo: Lintao Zhang/Getty Images

The House Intelligence Committee on Wednesday released a report finding that the U.S. intelligence community has failed to adapt to the growing threat from China, arguing that it will struggle to compete on the global stage for decades to come if it does not implement major changes.

The big picture: The 200-page report, based on thousands of analytic assessments and hundreds of hours of interviews with intelligence officers, determined that the intelligence community's focus on counterterrorism after 9/11 allowed China "to transform itself into a nation potentially capable of supplanting the United States as the leading power in the world."

Updated 5 mins ago - Politics & Policy

Tim Scott says Trump "misspoke" when he told Proud Boys to "stand by"

Photo: Bonnie Cash/Pool/AFP via Getty Images

Sen. Tim Scott (R-S.C.) told reporters on Wednesday that he believes President Trump "misspoke" when he told the far-right "Proud Boys" group to "stand back and stand by" in response to a question about condemning white supremacy at the first presidential debate.

Catch up quick: Moderator Chris Wallace asked Trump on Tuesday, "Are you willing, tonight, to condemn white supremacists and militia groups and to say that they need to stand down?" Trump asked who specifically he should condemn, and then responded, "Proud Boys, stand back and stand by. But I'll tell you what, somebody's got to do something about antifa and the left."

43 mins ago - Sports

Steelers-Titans NFL game delayed after coronavirus outbreak

A worker cleans a handrail at a Tennessee Titans game. Photo by Hannah Foslien/Getty Images)

The NFL announced that Sunday's game between the Tennessee Titans and the Pittsburgh Steelers has been delayed after several Titans players and staffers tested positive for the coronavirus.

Why it matters: It's the league's first game delay caused by a COVID-19 outbreak during the season, which is not taking place in a "bubble," like the NBA and MLS.

Get Axios AM in your inbox

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Subscription failed
Thank you for subscribing!