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The Postal Service is losing billions

Erica Pandey, author of @Work

A Postal Service worker unloads collected mail. Photo: Joe Raedle/Getty Images

The Postal Service lost $1.3 billion in the first quarter of 2018, CNNMoney reports. The agency cites the decline of physical mail and the rising cost burden of retiree benefits — not Amazon's market dominance — as reasons for the blow.

The big picture: This quarter's loss adds to a years-long pattern at the Postal Service. The agency, which is affiliated with the federal government but operates as an independent business, has lost $65 billion in the last 11 years.

Go deeper

Dion Rabouin, author of Markets
38 mins ago - Economy & Business

How the tech stock selloff is hurting average Americans

Expand chart
Data: FactSet; Chart: Axios Visuals

Investors holding the ultra-popular Nasdaq 100 and S&P 500 index funds have been hard hit over the last two weeks as tech shares have been roiled by rising U.S. Treasury yields.

Why it matters: Even though the economy is growing and many U.S. stocks are performing well, most investors are seeing their wealth decline because major indexes no longer reflect the overall economy or even a broad swath of public companies — they reflect the performance of a few of the country's biggest companies.

Go deeper (1 min. read)Arrow
Fadel Allassan
1 hour ago - World

UN rights chief: At least 54 killed, 1,700 detained since Myanmar coup

A Feb. 7 protest in Yangon, Myanmar. Photo: Getty Images/Getty Images

Police and military officers in Myanmar have killed at least 54 people during anti-coup protests, while "arbitrarily" detaining over 1,700 people, United Nations Human Rights Commissioner Michelle Bachelet said Thursday.

Why it matters: Protesters have demonstrating across Myanmar for nearly a month, demanding the restoration of democracy after the country's military leaders overthrew its democratically elected government on Feb. 1.

Go deeper (1 min. read)Arrow
Sam Baker
2 hours ago - Health

The danger of a fourth wave

Expand chart
Data: The COVID Tracking Project, state health departments; Note: Anomalous Arkansas case data from Feb. 28 was not included in the calculated change; Map: Andrew Witherspoon/Axios

The U.S. may be on the verge of another surge in coronavirus cases, despite weeks of good news.

The big picture: Nationwide, progress against the virus has stalled. And some states are ditching their most important public safety measures even as their outbreaks are getting worse.

Go deeper (2 min. read)Arrow