Photo: Koichi Kamoshida/Getty Images.

Japan announced Wednesday that it will be leaving the International Whale Commission so that it can resume commercial whale hunting for the first time in 30 years, the AP reports.

The big picture: Previously, Japan had conducted whale hunting in the Southern Ocean as part of what it claimed was a research program, but environmentalists and officials from other nations criticized it as an illegitimate commercial hunt. Now the country's withdrawing from the IWC entirely. Chief Cabinet Secretary Yoshihide Suga, who said the organization is run by conservationists, said whale stocks have recovered enough to resume commercial hunts. Suga said commercial whaling will resume in July in Japanese territorial waters and economic zones only, leaving the controversial Antarctic waters alone.

Go deeper

U.S. economy sees record growth in third quarter

The U.S. economy grew at a 33.1% annualized pace in the third quarter, the Commerce Department said on Thursday.

The state of play: The record growth follows easing of the coronavirus-driven lockdowns that pushed the economy to the worst-ever contraction — but GDP still remains well below its pre-pandemic level.

Updated 38 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Large coronavirus outbreaks leading to high death rates — Coronavirus cases are at an all-time high ahead of Election Day — Fauci says U.S. may not return to normal until 2022
  2. Politics: Space Force's No. 2 general tests positive for coronavirus
  3. World: Taiwan reaches a record 200 days with no local coronavirus cases
  4. Europe faces "stronger and deadlier" wave France imposes lockdown Germany to close bars and restaurants for a month.
  5. Sports: Boston Marathon delayed MLB to investigate Dodgers player who joined celebration after positive COVID test.
Dion Rabouin, author of Markets
2 hours ago - Economy & Business

Investors have nowhere to hide

Photo: Jeenah Moon/Getty Images

The massive losses in oil prices and U.S. and European equities were not countered by gains in traditional safe-haven assets on Wednesday.

Why it matters: The unusual movement in typical hedging tools like bonds, precious metals and currencies means they are not providing investors an asset that will appreciate in the event of a major equity selloff.

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!