Peretz Partensky via Flickr CC

Toshiba Corp. last week took a $6.3 write-down related to four U.S. nuclear reactors operated by subsidiary Westinghouse Electric, per Bloomberg. Cost overruns and missed deadlines on the reactors ― located in Georgia and South Carolina ― have effectively cost the Japanese parent company more than it originally paid to buy Westingthouse in 2006.

Why it matters: This means the end of new nuclear construction in the U.S., at least for the foreseeable future.

Westinghouse in 2008 became the first U.S. company to receive building permits for new nuclear power plants since the Three Mile Island accident, but the project failed and was mired in lawsuits. Now, Toshiba seems highly unlikely to move forward with new construction. Plus cheaper natural gas has reduced the need to invest in risky and expensive nuclear reactors.

Toshiba is in trouble, too: Due to the size of its failed investment, Toshiba may sell Westinghouse and also is likely to sell a large stake in its flash-memory business. Toshiba Chairman Shigenori Shiga has already resigned.

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Trump administration cuts refugee cap to new record low

Photo: Mandel Ngan/AFP via Getty Images

The Trump administration plans to only admit a maximum of 15,000 refugees this fiscal year, the State Department said in a release late Wednesday evening.

Why it matters: This is yet another record low refugee cap. Before leaving office, President Obama set the refugee limit at 110,000 for fiscal year 2017 — a number Trump has continued to slash throughout his presidency.

Updated 27 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 9 a.m. ET: 34,018,143 — Total deaths: 1,014,995 — Total recoveries: 23,674,533Map.
  2. U.S.: Total confirmed cases as of 9 a.m. ET: 7,234,327 — Total deaths: 206,963 — Total recoveries: 2,840,688 — Total tests: 103,939,667Map.
  3. Health: New poll shows alarming coronavirus vaccine skepticism — New research centers will study "long-haul" COVID — Coronavirus infections rise in 25 states.
  4. Business: Remdesivir is good business for Gilead.
  5. Retail: The holiday shopping season will now begin in October.
  6. 🎧Podcast: The looming second wave of airline layoffs.
Kendall Baker, author of Sports
50 mins ago - Sports

Barstool jumps into sports betting

Illustration: Eniola Odetunde/Axios

Barstool Sports was founded in 2003 as a free gambling newspaper. It later became a sports blog before growing into a media empire, and now things have come full circle with the recent launch of its own branded sportsbook.

Driving the news: The Barstool Sportsbook app saw a record 21,000 downloads per day during its first weekend (Sept. 18–20), breaking DraftKings' and Fanduel's daily records despite Pennsylvania being the only state where it was operational.