May 12, 2017

The gloves are coming off between Anthem, Cigna

Darron Cummings / AP

Health insurer Anthem ended its merger agreement with Cigna on Friday, a day after a Delaware judge ruled Cigna could walk. Now there's going to be a fight over whether Anthem has to pay Cigna a $1.85 billion break-up fee.

Anthem said Cigna isn't owed a dime: "Cigna's repeated willful breaches of the merger agreement and its successful sabotage of the transaction has caused Anthem to suffer massive damages." Cigna didn't respond, but it has already demanded the $1.85 billion payout as well as $13 billion in damages in a separate lawsuit.

What to watch: Whether a judge believes Cigna actively undermined the deal or Anthem has to pay up because that's what it says in the legal documents. The merger has been ugly from the start, when Cigna CEO David Cordani demanded the corner office but was never given any assurances. This will add to the lofty costs of the now-dead health insurance mega-mergers.

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Renewable energy industry eyes next coronavirus stimulus bill

Illustration: Aïda Amer/Axios

The renewable energy sector is pressing for the "phase 4" coronavirus response bill to provide the aid that was omitted from the recent $2 trillion rescue package — and they might have a wider opening this time around.

Why it matters: Wind and solar developers are warning of project cancelations and layoffs as activity is frozen, supply chains are disrupted, and companies risk missing deadlines to use tax credits.

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 8 a.m. ET: 874,081 — Total deaths: 43,291 — Total recoveries: 185,194.
  2. U.S.: Leads the world in confirmed cases. Total confirmed cases as of 8 a.m. ET: 189,633 — Total deaths: 4,081 — Total recoveries: 7,136.
  3. Axios-Ipsos Coronavirus Index: It's "a tale of two Americas" — as the rich are more likely to work from home and the poor are more likely to report to work.
  4. Federal government latest: President Trump said the next two weeks would be "very painful," with projections indicating the virus could kill 100,000–240,000 Americans.
  5. Coronavirus in custody: Inmates in all federal prisons are set to enter a 14-day quarantine on April 1.
  6. 2020 updates: Joe Biden said it's "hard to envision" the Democratic National Convention going ahead as planned in July.
  7. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

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Americans feel better about their finances after coronavirus stimulus

Data: Axios/Ipsos survey, margin of error ranges from ±5 to ±9 percentage points; Chart: Naema Ahmed/Axios

Americans have become more optimistic about the state of their finances in the last week, a new survey from Axios and Ipsos shows.

The state of play: While some remain worried, particularly those at the lower end of the economic spectrum, the data shows people are more confident about the security of their jobs and ability to take care of expenses after the passage of the $2.2 trillion CARES Act.