Susan Walsh / AP

President Trump and Indian Prime Minister Narendra Modi delivered warm statements in the Rose Garden Monday evening, with Trump saying the U.S.-India relationship had "never been stronger." Trump gave a special shoutout to their social media skills — each has more than 30 million followers on Twitter.

  • They took no questions.
  • Modi invited Trump and his family to India, and asked Ivanka Trump to lead the U.S. delegation to a global entrepreneurship summit in India.
  • Trump said he hoped the Indian-U.S. trading relationship would become "fair and reciprocal." In that vein, Trump said the U.S. looked forward to exporting natural gas to India but wanted to "get the price up a little bit." Earlier in the day, Trump thanked Modi for purchasing American military equipment.

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The new buyout barons

Illustration: Eniola Odetunde/Axios

Last month I wrote that SPACs are the new IPOs. But I may have understated it, because SPACs are also becoming the new private equity.

By the numbers: Short for "special purpose acquisition company," SPACs have raised $24 billion so far in 2020, with a loaded pipeline of upcoming offerings. U.S. buyout firms raised nearly $102 billion through the end of June — a much larger amount, but not so much larger that the two can't play on the same field.

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Macron visits Beirut promising a "new political pact" for Lebanon

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French President Emmanuel Macron walked through the blast-damaged streets of Beirut on Thursday, swarmed by people chanting for the fall of Lebanon's government and pleading for international aid.

Why it matters: Lebanon is at a breaking point. Its economy was collapsing and its government hardly functioning — all before a massive explosion destroyed swathes of the capital city, including its vital port.

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The PGA Championship is golf's first major in over a year

Photo: Gary Kellner/PGA of America via Getty Images

The 2020 PGA Championship tees off Thursday at San Francisco's TPC Harding Park, which is hosting its first-ever major.

Why it matters: It's the first major in more than a year — and the first of seven majors in the next 12 months. Though there won't be any fans in attendance, the excitement is palpable.