Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Axios on your phone

Get breaking news and scoops on the go with the Axios app.

Download for free.

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Courtesy of Square

Square, the payments company co-founded by Twitter CEO Jack Dorsey, plans to apply on Thursday for a license to be an industrial loan company, as American Banker first reported on Wednesday and the company has confirmed to Axios. The license would allow it to perform certain banking services like offer loans without having to get licenses in each state or relay on a bank to originate them.

"The primary purpose of the Bank will be to offer business loans to small businesses, similar to the existing business of Square Capital, and to offer deposit products," a Square spokesperson told Axios in a statement. Square Capital has been making small advances to the company's business customers since 2014. The new unit will be based in Utah and get $56 million in capital.

New wave: Square's application comes just a few months after SoFi, another San Francisco tech company that provides loans and refinancing, submitted its own. The FDIC hasn't approved a new license since Walmart unsuccessfully applied for one in 2005.

Go deeper

Women are leading the new Latin American literature boom

Photo illustration: Sarah Grillo/Axios. Photos: David Levenson, Ray Tang/Anadolu Agency/Getty Images

Gone are the whimsical elements, and in come the suspense, the gothic and the noir. The new Latin American Boom is here, and it is being led by women.

What’s happening: Writers like Argentines Samanta Schweblin and Mariana Enríquez, Mexican Fernanda Melchor and Chilean Lina Meruane have made international waves with books that comment on quotidian violence — gender and otherwise — as well as othering through pulse-racing, enthralling and occasionally beautiful horror.

Updated 23 mins ago - Sports

Olympics dashboard

Suni Lee. Photo: Jamie Squire/Getty Images

🥇 : U.S. gymnast Suni Lee wins gold in the women's individual all-around

🤸🏾‍♀️: Simone Biles reacts to "love and support" after withdrawing from all-around gymnastics and team finals, citing her mental health

🏃: U.S. pole vaulter Sam Kendricks withdraws from Games after positive coronavirus test

🏊‍♂️: Caeleb Dressel wins gold in men's 100m freestyle —Bobby Finke wins gold in first men's Olympic 800m freestyle

📷: In photos: Tokyo Olympics day 6 highlights

🗓: The Olympic events to watch today

🏃‍: Female Olympians push back against double standard in uniforms

Go deeper: Full Axios coverage

Heat dome sends temperatures soaring from Oregon to Louisiana

Forecast maximum temperatures (darker red shading represents the hottest temperatures, in the upper 90s to low 100s, Fahrenheit). July 29. Image: WeatherBell

The Pacific Northwest is once again in the midst of a heat wave after already seeing its worst such event on record this summer. Temperatures are soaring into the low 100s in some areas, while dangerous heat is also affecting the South Central states and Gulf Coast.

Why it matters: The occurrence of yet another heat wave during a drought in the West is ratcheting up wildfire risks. The heat itself is a major public health risk, as extreme heat is typically the biggest annual weather-related cause of mortality in the U.S.