A resident bails water from a flooded home in Catano, Puerto Rico, yesterday. Photo: Carlos Giusti / AP

"Now even money is running out in storm-hit Puerto Rico," by AP's Ben Fox and Danica Coto in San Juan:

  • "The aftermath ... has resulted in a near-total shutdown of the U.S. territory's economy that could last for weeks and has many people running seriously low on cash and worrying that it will become even harder to survive on this storm-ravaged island."
  • "There are long lines at the banks that are open with reduced hours or the scattered ATMs that are operational amid an islandwide power outage and near total loss of telecommunications."
  • "Many people are unable to work or run their businesses because diesel to run generators is in short supply or they can't spend all day waiting for gas to fill their car."

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12 mins ago - Health

U.S., Canada and U.K. accuse Russia of trying to steal coronavirus vaccine research

Russian President Vladimir Putin. Photo: Alexei Druzhinin\TASS via Getty Images

Hackers associated with Russian intelligence services are trying to steal information from researchers involved in coronavirus vaccine development, according to a joint advisory by U.K., U.S. and Canadian authorities published Thursday.

The big picture: This isn't the first time a foreign adversary has been accused of attempting to steal COVID-19-related research. U.S. officials in May announced an uptick in Chinese-government affiliated hackers targeting medical research and other facilities in the U.S. for data on a potential cure or effective treatments to combat the virus.

M&A activity falls despite early coronavirus fears

Illustration: Aïda Amer/Axios

In April, several prominent Democrats proposed a moratorium on large mergers and acquisitions. Their argument was that the pandemic would embolden the strong to pounce on the weak, thus reducing competition.

Fast forward: The moratorium never materialized. Nor did the M&A feeding frenzy.

More than 32 million Americans are receiving unemployment benefits

Photo: Jay L. Clendenin / Los Angeles Times via Getty Images

More than 32 million Americans are receiving some form of unemployment benefits, according to data released by the Labor Department on Thursday.

Why it matters: Tens of millions of jobless Americans will soon have a smaller cash cushion — as coronavirus cases surge and certain parts of the country re-enter pandemic lockdowns — barring an extension of the more generous unemployment benefits that are set to expire at the end of the month.