The DOJ has launched a criminal investigation into the Equifax breach, because three of its executives sold stock in the company after the company found out it had been hacked and before the company disclosed the breach, Bloomberg reports, citing "people familiar with the investigation."

  • The Securities and Exchange Commission is also said to be weighing in on the investigation.
  • Equifax and those executives did not immediately respond to requests for comment. They have previously said those executives "had no knowledge that an intrusion had occurred at the time they sold their shares."
  • The personal identifying information of as many as 143 million Americans was compromised in the Equifax breach.

Why it matters: Stocks fell 35% after the breach was disclosed, but were little changed before that, in effect, making those stock trades beneficial for those top execs.

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Quibi says it's shutting down

Photo: Igor Golovniov/SOPA Images/LightRocket via Getty Images

Quibi, the mobile-only video subscription streaming service, is shutting down, the company announced Wednesday. The company said the decision was made to preserve shareholder equity.

Why it matters: Quibi had struggled to hit its subscriber growth targets amid the global pandemic. The app launched six months ago.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Senate Democrats block vote on McConnell's targeted COVID relief bill McConnell urges White House not to strike stimulus deal before election.
  2. Economy: Why the stimulus delay isn't a crisis (yet).
  3. Health: New York reports most COVID cases since MayStudies show drop in coronavirus death rate — The next wave is gaining steam.
  4. Education: Schools haven't become hotspots — San Francisco public schools likely won't reopen before the end of the year.
  5. World: Spain becomes first nation in Western Europe to exceed 1 million cases.
3 hours ago - Podcasts

House antitrust chair talks USA vs. Google

The Justice Department filed a 63-page antitrust lawsuit against Google related to the tech giant's search and advertising business. This comes just weeks after the House subcommittee on antitrust issued its own scathing report on Google and other Big Tech companies, arguing they've become digital monopolies.

Axios Re:Cap talks with Rep. David Cicilline (D-R.I.), chair of the subcommittee on antitrust, about Google, the DOJ's lawsuit and Congress' next move.