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Photo: Bandar Algaloud via Getty Images

Let's call it: Neither SoftBank nor Saudi Arabia will face any significant U.S. investment losses over the murder of journalist Jamal Khashoggi.

Driving the news: Axios has learned from multiple sources that San Francisco-based freight logistics startup Flexport is in talks to raise around $500 million in a SoftBank-led deal. One source puts the pre-money price talk at around $3 billion (another dissents), which could mean the final investment is smaller if either side becomes concerned about CFIUS approvals (which I'd think they would). [Update: A source closer to the situation puts the pre-money closer to $2 billion]

  • Last week, Silicon Valley-based robotic delivery vehicle-maker Nuro raised $940 million from SoftBank Vision Fund.
  • The Saudi sovereign wealth fund is now so confident that it's planning to open investment offices in U.S. cities like New York and San Francisco.

Between the lines: Just to make it crystal clear, Colony Capital CEO Tom Barrack yesterday joked about the murder from a conference stage in Dubai, arguing that U.S. concerns were a "misunderstanding" about the rule of law in Saudi Arabia. Unclear if Barrack realizes that Khashoggi was killed in Turkey.

Flashback ... The companies who have backed away from Saudi business over Khashoggi

Go deeper

3 hours ago - Health

Biden administration to lift travel ban for fully vaccinated international travelers

Photo: Win McNamee/Getty Images

White House COVID-19 response coordinator Jeff Zients announced on Monday that the Biden administration will allow fully vaccinated travelers from around the world to enter the U.S. beginning in November.

Why it matters: The announcement comes as President Biden seeks commitments from countries to donate vaccines to the global COVAX initiative. He is expected to host a COVID summit on the sidelines of the UN General Assembly this week, and many of the countries attending have expressed frustration with the travel ban.

Dan Primack, author of Pro Rata
3 hours ago - Economy & Business

Gen Z breaks into VC

Illustration: Aïda Amer/Axios

When Meagan Loyst joined VC firm Lerer Hippeau, less than two years out of Boston College, she was still living with her parents. She had virtually no online brand presence, and the pandemic made it impossible to build a professional network via in-person meetings.

Why it matters: Loyst wasn't alone. Venture firms have accelerated hiring in line with record deal activity, often seeking younger investors who can spot trends that fly below the radar (or intrinsic understanding) of older partners.

White House aims to protect workers from extreme heat

Two pear pickers in Hood River, Ore. on Aug. 13. Photo: Michael Hanson/AFP via Getty Images

The White House announced a slew of actions Monday, including the start of a rule-making process at the Occupational Safety and Health Administration (OSHA), to protect American workers from extreme heat.

Driving the news: The U.S. just had its hottest summer on record, with triple-digit-temperatures killing hundreds in the Pacific Northwest and exposing outdoor workers to dangerous conditions.