Reproduced from CB Insights; Chart: Axios Visuals

Big companies are quickly getting back to business as usual even as coronavirus cases continue to hit record levels.

What's happening: A recent survey of U.S. chief financial officers found the difference in outlooks between small and large firms over the next 12 months "is extreme."

  • Expectations at small businesses "have essentially collapsed," says Keith Parker, global equity strategist at UBS Research.
  • Conversely, more than 60% of large firms with sales over $2 billion expect sales growth to accelerate — 49% expect a "significant pickup."

In the world of M&A, deals started picking back up in the back half of the second quarter, data from CB Insights show.

By the numbers: VC deal activity rebounded globally and Asia saw the largest increase of the quarter, with activity rising 20%, compared to 9% in Europe and 3% in North America.

  • Deals in the U.S. rose after three straight quarterly declines and U.S. VC-backed unicorns rose to a new record of 209.
  • 69 companies raised funding rounds worth at least $100m in Q2, a new record.
  • IPO exits jumped 60% in the quarter.

Go deeper

Dion Rabouin, author of Markets
Sep 23, 2020 - Economy & Business

The U.S. housing boom continues

Data: Investing.com; Chart: Axios Visuals

The housing market continued its boom in August and U.S. existing home sales surged to their highest level in nearly 14 years, setting a new record for average home price.

What happened: Following July's record-shattering 24.7% gain, sales increased 2.4% to a seasonally adjusted annual rate of 6 million, according to the National Association of Realtors.

Florida fully lifts coronavirus restrictions on restaurants

Photo: Don Juan Moore/Getty Images

Florida Gov. Ron DeSantis (R) announced Friday the state will completely reopen its economy, allowing restaurants at operate full capacity and barring localities from ordering businesses to close.

Why it matters: The state became one of the world's epicenters for the virus in July, forcing DeSantis to pause its first round of reopening.

1 hour ago - Economy & Business

Eyeing the end of gas-powered cars

Illustration: Eniola Odetunde/Axios

Gasoline-powered cars may be going the way of the woolly mammoth, even if it will take decades to replace them and seems hard to fathom today.

The big picture: Internal combustion engines (ICEs) have powered automobiles for more than 100 years. But the shift to electric vehicles, slow to materialize at first, is now accelerating due to tightening government policies, falling costs and a societal reckoning about climate change.

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