Photo: Scott Heins/Getty Images

Enjoying a boom with so many gyms closed, Peloton "is preparing to launch a cheaper treadmill and a new high-end bike," Bloomberg reports.

The state of play: The new treadmill will be called 'Tread" and will cost less than $3,000, compared to $4,295 for the current model. It will be smaller and have a cheaper belt design. Peloton is also releasing Bike+, a premium stationary bike that will cost more than the current $2,245 version, which will have a price drop to $1,900.

Yes, but: The pandemic has impacted the company's ability to manufacture its new products and forced it to pause deliveries across most of the U.S.

  • Peloton CEO John Foley said the coronavirus has forced the company to rethink how it launches products and releasing a cheaper treadmill is a priority.

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Sep 15, 2020 - Sports

COVID-19 brings boom for bicycles

Illustration: Aïda Amer/Axios

A cycling boom has materialized as a result of the pandemic, with people around the globe taking part in the two-wheel revolution at unprecedented levels.

Why it matters: This has not only been a boon to the biking industry, but it also has the chance to permanently alter cities as bike-friendly changes to urban infrastructure got fast-tracked when the pandemic refused to relent.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 6:30 p.m. ET: 32,390,204 — Total deaths: 985,302 — Total recoveries: 22,286,345Map.
  2. U.S.: Total confirmed cases as of 6:30 p.m ET: 7,020,967 — Total deaths: 203,481 — Total recoveries: 2,710,183 — Total tests: 98,476,600Map.
  3. States: "We’re not closing anything going forward": Florida fully lifts COVID restaurant restrictions — Virginia Gov. Ralph Northam tests positive for coronavirus.
  4. Health: Young people accounted for 20% of cases this summer.
  5. Business: Coronavirus has made airports happier places The expiration of Pandemic Unemployment Assistance looms.
  6. Education: Where bringing students back to school is most risky.
Mike Allen, author of AM
2 hours ago - Politics & Policy

Biden pushes unity message in new TV wave

A fresh Joe Biden ad, "New Start," signals an effort by his campaign to make unity a central theme, underscoring a new passage in his stump speech that says he won't be a president just for Democrats but for all Americans.

What he's saying: The ad — which began Friday night, and is a follow-up to "Fresh Start" — draws from a Biden speech earlier in the week in Manitowoc, Wisconsin: