May 11, 2018 - Technology

The Postal Service is losing billions

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.

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Zachary Basu, Bethany Allen-Ebrahimian

Updated 16 mins ago - World

U.S. sanctions Chinese officials over Uighur human rights abuses

Photo: Xinhua/Liu Jie via Getty Images

The Treasury Department announced Thursday that the U.S. has sanctioned four Chinese Communist Party officials and the Xinjiang Public Security Bureau for human rights abuses against Uighur Muslims and other ethnic minorities in Xinjiang.

Why it matters: The sanctions designations, pursuant to the Global Magnitsky Act passed by Congress in 2016, mark a significant escalation in the Trump administration's response to the Chinese government's detainment of over 1 million Uighurs in internment camps.

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Axios

Updated 23 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

Global: Total confirmed cases as of 2 p.m. ET: 12,118,667 — Total deaths: 551,271 — Total recoveries — 6,649,930 — Map.
U.S.: Total confirmed cases as of 2 p.m. ET: 3,081,383 — Total deaths: 132,570 — Total recoveries: 953,420 — Total tested: 37,431,666 — Map.
Public health: Cases rise in 33 states — Florida reports highest single-day coronavirus death toll since pandemic began.
Science: World Health Organization acknowledges airborne transmission of coronavirus.
Travel: Young adults are most likely to have moved due to coronavirus.

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Felix Salmon

40 mins ago - World

China's extraterritorial threat

Illustration: Aïda Amer/Axios

All multinational companies and executives need to worry about breaking U.S. law, no matter where they're based or doing business. Now, they need to worry about Chinese law, too.

Why it matters: The projection of U.S. norms and laws around the world has been an integral (and much resented) part of America's "soft power" since 1945. As China positions itself to replace the USA as global hegemon, expect it to become increasingly assertive along similar lines.