Get the latest market trends in your inbox

Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

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!

Denver news in your inbox

Catch up on 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!

Des Moines news in your inbox

Catch up on 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!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

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!

Tom Shannon (right). Photo: Paul Richards / Getty Images

Undersecretary of State for Political Affairs Tom Shannon, a 35-year veteran of the U.S. Foreign Service and the department's most senior holdover from the Obama administration, announced his plans to retire Thursday, reports AP's Matthew Lee.

Why it matters: Though Shannon said he was stepping down for personal and not political reasons, the career diplomat was widely seen as a steadying force for a department in flux.

Secretary of State Rex Tillerson, "who has been criticized for his leadership of the State Department and removing or forcing out senior career officials," told Lee that he had asked Shannon to stay on, adding that his departure would be a loss. “Thirty-five years of experience is not something you replace overnight,” Tillerson told Lee.

Note: "Of five 'career ambassadors' on the job when Tillerson arrived at the State Department, only one remains and that diplomat is currently on sabbatical," writes Lee.

Official statement:

Today, Under Secretary Tom Shannon announced his intent to retire. Under Secretary Shannon has given a lifetime of service to the American people at the State Department. He’s a patriot, a diplomat and a great American who has served under six presidents and ten secretaries of state. His decision is personal. The Secretary has asked Under Secretary Shannon to stay on until his successor is named, and to ensure a smooth transition to the new Under Secretary for Political Affairs.  He has agreed to do so. We are all grateful to Under Secretary Shannon for his leadership and service to our country.

Go deeper: The diminishing State Department; Foreign Service head questions "disturbing trends" at State Department; Reassigned State Department employees claim political targeting

Go deeper

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: WHO: AstraZeneca vaccine must be evaluated on "more than a press release."
  2. Politics: Supreme Court backs religious groups on New York COVID restrictions.
  3. Economy: Safety nets to disappear in DecemberAmazon hires 1,400 workers a day throughout pandemic.
  4. Education: U.S. public school enrollment drops as pandemic persists — National standardized tests delayed until 2022.
  5. Cities: Los Angeles County issues stay-at-home order, limits gatherings.
  6. World: London police arrest dozens during anti-lockdown protests — Thailand, Philippines sign deal with AstraZeneca for vaccine.

Tony Hsieh, longtime Zappos CEO, dies at 46

Tony Hsieh. Photo: FilmMagic/FilmMagic

Tony Hsieh, the longtime ex-chief executive of Zappos, died on Friday after being injured in a house fire, his lawyer told the Las Vegas Review-Journal. He was 46.

The big picture: Hsieh was known for his unique approach to management, and following the 2008 recession his ongoing investment and efforts to revitalize the downtown Las Vegas area.

Dan Primack, author of Pro Rata
9 hours ago - Economy & Business

The unicorn stampede is coming

Illustration: Annelise Capossela/Axios

Airbnb and DoorDash plan to go public in the next few weeks, capping off a very busy year for IPOs.

What's next: You ain't seen nothing yet.