May 6, 2020 - Economy & Business

Podcast: Legal Sea Foods takes on its insurer over coronavirus

Dan Primack, author of Pro Rata

Restaurant chain Legal Sea Foods signed a new business interruption insurance policy on March 1, after which the coronavirus pandemic caused it to close all 33 locations and furlough thousands of employees. But its insurer won't pay up, mirroring the experiences of many other restaurateurs. Now Legal Sea Foods is suing. Dan digs in with Legal Sea Foods CEO Roger Berkowitz.

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The risk asset rally continues as stock market rebounds

Illustration: Sarah Grillo/Axios

Risk assets have jumped over the past week and continued their rally on Wednesday, with the S&P 500 gaining for a fourth straight day and posting its highest close since March 4, while the Nasdaq ended the day just 1.4% below its all-time high.

What it means: If it hadn't been evident before, Wednesday's market action made clear that the bulls are back in charge.

Trump's troubles grow, spread

Photo: Tasos Katopodis/Getty Images

President Trump is confronting the most dire political environment of his presidency, with his support dropping fast from Texas to Wisconsin, even among his base of religious and older voters. 

Why it matters: Top Republicans tell Axios that Trump's handling of the nation's civil unrest, including his hasty photo op at St. John's Church after the violent clearing of Lafayette Park, make them much more worried about his chance of re-election than they were one week ago.

Social media takes on world leaders

Illustration: Aïda Amer/Axios

Social media companies are finally beginning to take action on posts from world leaders that violate their policies, after years of letting them mostly say whatever they wanted unfiltered to millions of people.

Why it matters: Government officials are among the users most likely to abuse the wide reach and minimal regulation of tech platforms. Mounting pressure to stop harmful content from spreading amid the coronavirus pandemic, racial protests and a looming U.S. election has spurred some companies to finally do something about it.