Italy is used to changes at the top, so the resignation this week of Prime Minister Guiseppe Conte won't have come as a massive shock.
The big picture: Italy has shuffled through 17 prime ministers over the last 30 years, second only to Japan among G7 countries. With only 3 chancellors since 1982, Germany is on the other end of the spectrum — though Angela Merkel is expected to step aside by 2021.
Illustration: Aïda Amer/Axios
The growth of coronavirus cases is "casting a shadow" over oil's recovery despite the partial demand revival and supply cuts that have considerably tightened the market in recent months, the International Energy Agency said Friday.
Why it matters: IEA's monthly report confirms what analysts have seen coming for a long time: Failure to contain the virus is a huge threat to the market rebound that has seen prices grow, but remain at a perilous level for many companies.
Illustration: Aïda Amer/Axios
The Big Ten announced Thursday that it will move all fall sports to a conference-only schedule.
Why it matters: This will have a snowball effect on the rest of the country, and could force all Power 5 conferences to follow suit, resulting in a regionalized fall sports season.
Illustration: Aïda Amer/Axios
This week, United Airlines warned 36,000 U.S. employees their jobs were at risk, Walgreens cut more than 4,000 jobs, Wells Fargo announced it was preparing thousands of terminations this year, and Levi's axed 700 jobs due to falling sales.
Why it matters: We have entered round two of the jobs apocalypse. Those announcements followed similar ones from the Hilton, Hyatt, Marriott and Choice hotels, which all have announced thousands of job cuts, and the bankruptcies of more major U.S. companies like 24 Hour Fitness, Brooks Brothers and Chuck E. Cheese in recent days.