Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

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

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

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Photo: Chet Strange/Getty Images

JBS USA on Thursday announced it had paid hackers "the equivalent of $11 million in ransom" to resolve a cyberattack that forced the meat company to shut down.

State of play: The payment was made in bitcoin, per the Wall Street Journal. The company said it made the decision to pay the ransom after consulting with "internal IT professionals and third-party cybersecurity experts."

  • JBS USA CEO Andre Nogueira said the payment had been made after most JBS plants were up and running again, the Journal reports.
  • The FBI have said they believe that the Russia-linked REvil ransomware group was behind the attack.

What they're saying: "This was a very difficult decision to make for our company and for me personally. However, we felt this decision had to be made to prevent any potential risk for our customers," Nogueira said in a statement.

The big picture: The FBI has urged companies and organizations targeted by hackers to avoid paying ransoms, noting that there's no guarantee it will end the cyberattack, per Bloomberg.

  • Earlier this week, the Justice Department said U.S. investigators recovered $2.3 million worth of cryptocurrency paid as a ransom to the cybercrime group responsible for the attack that shut down Colonial Pipeline last month.

Go deeper

Ina Fried, author of Login
Sep 14, 2021 - Technology

Facebook allows prominent users to break rules

Signage in front of the Facebook Inc. headquarters in Menlo Park, California, U.S., on Wednesday, April 21, 2021. Photo: David Paul Morris/Bloomberg via Getty Images

Facebook has long said that it applies the same rules to all posts, but internal documents obtained by the Wall Street Journal paint a picture of a company that allowed millions of politicians, celebrities and other high-profile users to break those rules without consequence.

Why it matters: It's hard to limit misinformation on a platform when you give a free pass to those with the most reach.

Biden pledges to double U.S. climate funding to developing nations

U.S. President Joe Biden addresses the 76th Session of the U.N. General Assembly on September 21, 2021. (Eduardo Munoz-Pool/Getty Images)

Staring down a "borderless climate crisis," President Biden told the UN General Assembly on Tuesday that the U.S. will double public financial assistance to developing countries, including money to help them adapt to present-day climate impacts.

Why it matters: The failure of industrialized nations to fulfill a 2009 pledge to devote $100 billion annually to developing countries is a major impediment to a successful UN Climate Summit in Glasgow, which starts next month.

Dan Primack, author of Pro Rata
1 hour ago - Economy & Business

IPO market holds firm amid stock market tumult

Illustration: Aïda Amer/Axios

The IPO market is doing its best Alfred E. Neuman impression so far this week, refusing to entertain everyone else's worries.

The big picture: Both the Dow and S&P 500 fell nearly 2% yesterday, as investors tried to measure the fallout of Chinese construction giant Evergrande defaulting on its $300 billion in liabilities.