Apr 13, 2018 - Politics & Policy

Trump designates task force to evaluate USPS finances

A United States Postal Service mail carrier. Photo: Jonathan Wiggs/The Boston Globe via Getty Images

President Trump issued an executive order on Thursday, designating a task force for the U.S. Postal Service "to evaluate the operations and finances of the USPS," chaired by Treasury Secretary Steven Mnuchin.

The big picture: This isn't the first time Trump has spoken out about USPS — earlier this month he tweeted that he was "right about Amazon costing the United States Post Office massive amounts of money." While he didn't mention Amazon in the order, Axios' Jonathan Swan reported last month that Trump tells people Amazon has gotten a free ride from taxpayers and cushy treatment from the U.S. Postal Service

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Jeff Tracy

35 mins ago - Economy & Business

BodyArmor takes aim at Gatorade's sports drink dominance

Illustration: Eniola Odetunde/Axios

BodyArmor is making noise in the sports drink market, announcing seven new athlete partnerships last week, including Christian McCaffrey, Sabrina Ionescu and Ronald Acuña Jr.

Why it matters: It wants to market itself as a worthy challenger to the throne that Gatorade has occupied for nearly six decades.

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Dion Rabouin

1 hour ago - Economy & Business

S&P 500's historic rebound leaves investors divided on future

Data: Money.net; Chart: Axios Visuals

The S&P 500 nearly closed at an all-time high on Wednesday and remains poised to go from peak to trough to peak in less than half a year.

By the numbers: Since hitting its low on March 23, the S&P has risen about 50%, with more than 40 of its members doubling, according to Bloomberg. The $12 trillion dollars of share value that vanished in late March has almost completely returned.

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Sara Fischer

3 hours ago - Economy & Business

Newsrooms abandoned as pandemic drags on

Illustration: Sarah Grillo/Axios

Facing enormous financial pressure and uncertainty around reopenings, media companies are giving up on their years-long building leases for more permanent work-from-home structures. Others are letting employees work remotely for the foreseeable future.

Why it matters: Real estate is often the most expensive asset that media companies own. And for companies that don't own their space, it's often the biggest expense.