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The NBA tips off tomorrow night, making it the first major U.S. sports league to play a second season amidst the pandemic. No bubble this time, but also not many in-person fans.

Axios Re:Cap talks with Milwaukee Bucks co-owner Marc Lasry on the business of basketball, how much he expects to lose this season and that massive new deal for two-time MVP Giannis Antetokounmpo.

Go deeper

Dec 24, 2020 - Sports

Rockets' James Harden fined and NBA game with Thunder postponed over coronavirus

The Houston Rockets' James Harden during game against the San Antonio Spurs at the Toyota Center last Thursday in Houston, Texas. Photo: Carmen Mandato/Getty Images

The NBA announced it's fining Houston Rockets star James Harden $50,000 for COVID-19 protocols violations and postponing his team's Wednesday night season opener with the Oklahoma City Thunder following a coronavirus outbreak.

Why it matters: The NBA suspended the previous season in March due to the pandemic. It returned to play in late July in a bubble at the ESPN Wide World of Sports Complex near Orlando.

Dion Rabouin, author of Markets
12 mins ago - Economy & Business

Stock buybacks are kicking back into high gear

Illustration: Aïda Amer/Axios

It was expected that with the economy improving and company balance sheets already loaded with cash, U.S. firms would slow down their debt issuance in 2021 after setting records in 2020. But just the opposite has happened.

Why it matters: Companies generally issue bonds for one of two reasons — because they're worried about not having enough cash to cover their expenses or because they want to lever up and make risky bets.

Ben Geman, author of Generate
1 hour ago - Energy & Environment

Japan vows deeper emissions cuts ahead of White House summit

Japanese Prime Minister Yoshihide Suga. Photo: Carl Court/Getty Images

Japan on Thursday said it will seek to cut greenhouse gas emissions by 46% below 2013 levels by 2030, per the AP and other outlets.

Why it matters: The country is the world's fifth-largest largest carbon dioxide emitter and a major consumer of coal, oil and natural gas.