Trump shakes hands with China's President Xi Jinping during a press conference at the Great Hall of the People in Beijing. Photo: Nicolas Asfouri / AFP / Getty Images.

During his stop in Beijing last week, President Trump personally requested that Chinese President Xi Jinping look into the shoplifting case against three UCLA basketball players accused of stealing sunglasses from a Louis Vuitton store in Hangzhou, per The Washington Post. The players include LiAngelo Ball, the brother of Los Angeles Lakers rookie Lonzo Ball and a member of the media-savvy Ball family.

Why it matters: China is notorious for its slow justice system and lack of protections for foreigners, but Trump's intervention seems to have worked, as charges against the players have reportedly been reduced, though they may be forced to remain in China for a few more weeks.

Go deeper: LaVar Ball used Trump's playbook to conquer sports media.

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Coronavirus surge punctures oil's recovery

Illustration: Aïda Amer/Axios

The growth of coronavirus cases is "casting a shadow" over oil's recovery despite the partial demand revival and supply cuts that have considerably tightened the market in recent months, the International Energy Agency said Friday.

Why it matters: IEA's monthly report confirms what analysts have seen coming for a long time: Failure to contain the virus is a huge threat to the market rebound that has seen prices grow, but remain at a perilous level for many companies.

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Big Ten's conference-only move could spur a regionalized college sports season

Illustration: Aïda Amer/Axios

The Big Ten announced Thursday that it will move all fall sports to a conference-only schedule.

Why it matters: This will have a snowball effect on the rest of the country, and could force all Power 5 conferences to follow suit, resulting in a regionalized fall sports season.

The second jobs apocalypse

Illustration: Aïda Amer/Axios

This week, United Airlines warned 36,000 U.S. employees their jobs were at risk, Walgreens cut more than 4,000 jobs, Wells Fargo announced it was preparing thousands of terminations this year, and Levi's axed 700 jobs due to falling sales.

Why it matters: We have entered round two of the jobs apocalypse. Those announcements followed similar ones from the Hilton, Hyatt, Marriott and Choice hotels, which all have announced thousands of job cuts, and the bankruptcies of more major U.S. companies like 24 Hour Fitness, Brooks Brothers and Chuck E. Cheese in recent days.