Keith Srakocic / AP

Hudson's Bay, owner of Saks Fifth Avenue and Lord & Taylor announced Thursday night that it would layoff roughly 2,000 workers as part of a restructuring plan. The move continues a trend of retailer downsizing, as the industry battles its own overextension and takes on the growing threat of online retail.

Why it matters: Economy-wide the retail industry has cut 80,000 jobs this year, compared with an average of 16,000 new jobs per month last year. These job cuts can be partially blamed on Amazon's continued success at luring shoppers online. "Amazon is unstoppable," former retail CEO Marc Cohen writes for Axios. "It and its myriad of e-commerce cohorts will continue to grow meteorically, entirely at the expense of traditional brick and mortar retail."

Traditional retail isn't going away, but don't expect it to be an engine for new jobs going forward.

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22 mins ago - Technology

Epic sues Apple over developer tax as Fortnite is pulled from App Store

Illustration: Sarah Grillo/Axios

Fortnite maker Epic Games on Thursday escalated its battle over Apple's App Store tactics, suing the tech giant over antitrust claims while also baiting Apple into dropping Fortnite from the App Store.

The big picture: Epic is just one of several developers clashing with Apple. They argue the company harms competition by taking a cut of up to 30% on in-app purchases and subscriptions and blocking most developers from getting around the tax by charging their users directly.

Biden calls for 3-month national mask mandate: "Be a patriot"

Joe Biden called on governors to issue a three-month mandatory outdoor mask mandate on Thursday, telling reporters after receiving a coronavirus briefing that experts say it could save over 40,000 lives.

Why it matters: Biden was more aggressive and specific than he has been in previous calls to wear a mask, arguing that it will allow children to return to school sooner, businesses to reopen and help "get our country back on track."

McConnell announces Senate will adjourn until Sept. 8

Photo: Nicholas Kamm/AFP/Getty Images

Senate Majority Leader Mitch McConnell (R-Ky.) announced Thursday that the Senate will not hold any more votes until Sept. 8, though members will remain on 24-hour notice in case a coronavirus stimulus deal is reached.

Why it matters: With millions of Americans unemployed, the Trump administration and Democrats remain hopelessly deadlocked and unlikely to reach a deal any time soon.