John Locher / AP

Small business owners were elated when President Trump withdrew the U.S. from the Paris deal. "It was like a major win at a football game," a management consultant told NYT. Although many big companies (Apple, IBM, Disney, etc.) criticized Trump for the decision, the small business owners he's kept happy are reflective of the base of voters who delivered him to the White House.

"There is a new sheriff in town," said another business owner whose company develops control panels for larger factories. "But the biggest frustration that I have is that there is so much resistance that is keeping him from moving forward."

Why it matters: Trump's decision to withdraw was political. He's appealing to his base (something he's done through continued campaign style rallies) instead of large corporations and business elites like Tim Cook.

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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.