May 26, 2018 - World

Trump administration reaches deal with ZTE

Photo: Thomas Peter - Pool/Getty Images

President Trump confirmed on Twitter Friday night that the administration reached a deal with Chinese telecom company ZTE, while criticizing Senator Chuck Schumer and former President Obama for past choices with the company.

Why it matters: The deal, per the New York Times, "could clear the way for further trade talks with China." It's contingent on ZTE hiring American compliance officers, paying a fine, and shaking up its management team. In return, the Times reports, ZTE will "once again begin doing business with American companies."

Go deeper

Sara Fischer, author of Media Trends
7 mins ago - Economy & Business

Quibi says it's shutting down

Photo: Igor Golovniov/SOPA Images/LightRocket via Getty Images

Quibi, the mobile-only video subscription streaming service, is shutting down, the company announced Wednesday. The company said the decision was made to preserve shareholder equity.

Why it matters: Quibi had struggled to hit its subscriber growth targets amid the global pandemic. The app launched six months ago.

Go deeper (3 min. read)Arrow
Axios
Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Senate Democrats block vote on McConnell's targeted COVID relief bill — McConnell urges White House not to strike stimulus deal before election.
  2. Economy: Why the stimulus delay isn't a crisis (yet).
  3. Health: New York reports most COVID cases since May — Studies show drop in coronavirus death rate — The next wave is gaining steam.
  4. Education: Schools haven't become hotspots — San Francisco public schools likely won't reopen before the end of the year.
  5. World: Spain becomes first nation in Western Europe to exceed 1 million cases.
Go deeper (1 min. read)Arrow
Axios
2 hours ago - Podcasts

House antitrust chair talks USA vs. Google

The Justice Department filed a 63-page antitrust lawsuit against Google related to the tech giant's search and advertising business. This comes just weeks after the House subcommittee on antitrust issued its own scathing report on Google and other Big Tech companies, arguing they've become digital monopolies.

Axios Re:Cap talks with Rep. David Cicilline (D-R.I.), chair of the subcommittee on antitrust, about Google, the DOJ's lawsuit and Congress' next move.