Jan 18, 2018

Two more senators come out against short-term funding

Image: Senators Mike Rounds and Angus King on CNN's New Day

Republican Sen. Mike Rounds and independent Sen. Angus King announced they would not vote for the short-term funding bill, or continuing resolution (CR), on CNN's "New Day" this morning.

Why it matters: The Senate no longer has even 50 Republicans to vote to keep the government funded past tomorrow's deadline. In theory, all Senate Republicans and at least 10 Democrats would be needed to pass the bill.

Go deeper: What a government shutdown means for you

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Investment pros are selling while mom and pop buy the coronavirus dip

Illustration: Aïda Amer/Axios

As traders around the globe have frantically unloaded positions in recent weeks, so-called mom and pop retail investors have kept level heads and not sold out of stocks.

What they're saying: In fact, "the typical trader is buying equities on the dips," passive investment firm Vanguard notes in a research paper, adding that "older, wealthier traders are moving modestly to fixed income."

Zuckerberg: "Local journalism is incredibly important" to fighting coronavirus

Photo: Sven Hoppe/picture alliance via Getty Images

Mark Zuckerberg, signaling his personal involvement in a new Facebook commitment of $100 million to bolstering local journalism, told me that "very local work" is vital to his big mission of bringing the world closer together.

What he's saying: "Everyone believes that local journalism is incredibly important," Zuckerberg told Axios in a phone interview. "But everyone is connected to their local [outlets]. Figuring out how to make an impact, and support local journalism broadly and at scale, has been a challenge."

Facebook spending $100 million to help news outlets in coronavirus crisis

Photo Illustration by Budrul Chukrut/SOPA Images/LightRocket via Getty Images

Facebook says it is spending $100 million to support news outlets around the world that have been impacted by the coronavirus, the company said Monday.

Why it matters: Whatever Facebook's motivation, this is a much-needed cash infusion at a critical time for the local news industry.