Terry Renna / AP

Jacob Bernstein, a features writer for the Times, came clean today on Twitter and said he made the offensive remark:

"I want to take ownership of a mistake I made. Speaking at a party in what I thought was a personal conversation, I nevertheless made a stupid remark about the first lady. My editors have made it clear my behavior was not in keeping with the standards of the Times, and I agree. My mistake, referring to unfounded rumors, shouldn't reflect on anyone else and I apologize profusely."

Background: Supermodel Emily Ratajkowski caused a stir yesterday by saying a New York Times journalist told her "Melania is a hooker." Ratajkowski said all women were obligated to defend against such gendered attacks, and the First Lady tweeted her thanks:

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BodyArmor takes aim at Gatorade's sports drink dominance

Illustration: Eniola Odetunde/Axios

BodyArmor is making noise in the sports drink market, announcing seven new athlete partnerships last week, including Christian McCaffrey, Sabrina Ionescu and Ronald Acuña Jr.

Why it matters: It wants to market itself as a worthy challenger to the throne that Gatorade has occupied for nearly six decades.

S&P 500's historic rebound leaves investors divided on future

Data: Money.net; Chart: Axios Visuals

The S&P 500 nearly closed at an all-time high on Wednesday and remains poised to go from peak to trough to peak in less than half a year.

By the numbers: Since hitting its low on March 23, the S&P has risen about 50%, with more than 40 of its members doubling, according to Bloomberg. The $12 trillion dollars of share value that vanished in late March has almost completely returned.

Newsrooms abandoned as pandemic drags on

Illustration: Sarah Grillo/Axios

Facing enormous financial pressure and uncertainty around reopenings, media companies are giving up on their years-long building leases for more permanent work-from-home structures. Others are letting employees work remotely for the foreseeable future.

Why it matters: Real estate is often the most expensive asset that media companies own. And for companies that don't own their space, it's often the biggest expense.