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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

Oct 13, 2020 - Economy & Business

The winners of the stay-at-home economy

Illustration: Eniola Odetunde/Axios

The coronavirus pandemic has created a stay-at-home economy worth trillions.

The big picture: While the pandemic is killing scores of businesses that depend on office workers, it's also making way for startups and titans alike to conquer a new industry — powering our remote lives.

45 mins ago - World

Pentagon warns of ISIS-K capabilities outside Afghanistan

The site of an airstrike conducted by the U.S. against a planner for ISIS-K in Nangarhar province, Afghanistan in August. Photo: Xinhua via Getty Images

U.S. intelligence believes ISIS-K has the "intent" to eventually launch attacks outside of Afghanistan and could be capable of doing so "somewhere between six or 12 months," a top Pentagon official told senators Tuesday.

Why it matters: The U.S. withdrawal and subsequent Taliban takeover of Afghanistan has raised fears that terrorist groups will reconstitute and potentially pose a renewed threat to the U.S. homeland.

Exclusive: Billionaires back new media firm to combat disinformation

Illustration: Aïda Amer/Axios

A new public benefit corporation backed by billionaires Reid Hoffman, George Soros, and others is launching Tuesday to fund new media companies and efforts that tackle disinformation.

Why it matters: Good Information Inc. aims to fund and scale businesses that cut through echo chambers with fact-based information. As part of its mission, it plans to invest in local news companies.