Former New York Mayor Mike Bloomberg wrote on Instagram (followed by Facebook and Twitter) that he's now officially a Democrat.
Why it matters: Bloomberg, looking ahead to a possible 2020 presidential race as a Democrat, is heading toward spending $100 million on House Democratic races, and made a surprise contribution of $20 million to Senate Democrats.
Illustration: Eniola Odetunde/Axios
A group of Pac-12 football players have threatened to opt out of the season unless the conference addresses systemic inequities and concerns related to the coronavirus pandemic.
Why it matters: College football players have never had more leverage than they do right now, as the sport tries to stage a season amid the pandemic. And their willingness to use it shows we've entered a new age in college sports.
Illustration: Aïda Amer/Axios
The specter of rising inflation is helping power assets like gold, silver and Treasury Inflation-Protected Securities (TIPS) to strong returns with record demand this year.
The big picture: Investors continue to pack in even as inflation metrics like the consumer price index (CPI) and personal consumption expenditure (PCE) index have remained anchored.
Illustration: Eniola Odetunde/Axios
With a new coronavirus relief measure stalled in Congress, CEOs of some of the world's biggest companies have banded together to send a message to Washington: Get money to small businesses now!
Why it matters: "By Labor Day, we foresee a wave of permanent closures if the right steps are not taken soon," warns the letter, organized by Howard Schultz and signed by more than 100 CEOs.