Michael Probst / AP

Qatar Airways has offered to purchase a 10% stake in American Airlines, per Bloomberg. American Airlines did not solicit the offer and has yet to respond to it, though its shares climbed as markets opened today.

Why it matters: The offer comes during an intense diplomatic standoff between Qatar and its neighbors in the Middle East, which threatened to hurt the airline's business. Still, Qatar Airways is one of the fastest growing airline companies in the world. Its rapid growth has antagonized U.S.-based companies, including American, who have accused Qatar Airways of accepting government subsidies to gain an unfair advantage in the market. Qatar Airways has denied these accusations.

What's next:

Qatar Airways' offer is subject to review by American Airlines' board. If Qatar is given the green light to purchase, the foreign company will have as much voting power as American's largest stakeholders.

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Ousted former U.S. attorney for SDNY to testify before House Judiciary Committee

Berman in October 2019 in New York City. Photo: Johannes Eisele/AFP via Getty Images

Geoffrey Berman, the former U.S. attorney for the Southern District of New York, is scheduled to testify to the House Judiciary Committee next week on the circumstances of his forced resignation, Politico reports, citing a congressional aide.

Why it matters: As the top federal prosecutor in Manhattan, Berman oversaw high-profile cases that worried and angered President Trump and his inner circle, including an investigation into his personal lawyer Rudy Giuliani. His removal has added to allegations by Democrats that Attorney General Bill Barr has politicized the Justice Department under President Trump.

Stimulus outlook takes a hit even as coronavirus cases skyrocket

Data: Bureau of Labor Statistics; Chart: Axios Visuals

The pandemic is getting worse, and the question is whether the economic recovery will go with it.

Why it matters: America adding 7.5 million jobs over the last two months pales in comparison to 20+ million lost over the two months prior.

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Texas governor mandates face masks in public spaces

Photo: Mario Tama/Getty Images

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Why it matters: It's a dramatic reversal by the Republican governor that underscores the severity of the outbreak in Texas, which set a single-day record on Wednesday with more than 8,000 confirmed new cases. On June 3, Abbott issued an executive order banning local governments from imposing fines on people who don't wear masks in public.