Purchases of variable annuities hit a three-year high last quarter, according to new sales figures released by the Secure Retirement Institute.
Why it matters, per Axios Business Managing Editor Jennifer Kingson: Variable annuities, meant to generate income in retirement, fluctuate depending on the performance of various markets. The fact that consumers are buying them is another indicator of economic confidence.
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Illustration: Sarah Grillo/Axios
Media tycoon Jimmy Lai at the Next Digital offices in Hong Kong in June. Photo: Anthony Wallace/AFP via Getty Images
Hong Kong pro-democracy activist Jimmy Lai has been arrested for "collusion with foreign powers," said Mark Simon, an executive at the tycoon's media firm Next Digital Monday morning local time.
Why it matters: He was arrested under the new national security law that gives Beijing more powers over the former British colony. Lai is the most prominent person arrested under the law, which prompted the U.S. to sanction Chinese officials, including Hong Kong leader Carrie Lam, over Beijing's efforts to strip the territory of its autonomy.
People physically distancing at tables in New York City's Times Square in June. Photo: Johannes Eisele/AFP via Getty Images
New York Gov. Andrew Cuomo (D) announced Sunday 515 people, or 0.78% of those tested, returned a positive reading for COVID-19 the previous day.
Why it matters: It's the lowest single-day positive rate since the start of the pandemic. It's another sign that the state that was once a global coronavirus epicenter is curbing the spread of the virus. "Our daily numbers remain low and steady, despite increasing infection rates across the country, and even in our region," Cuomo said in a statement. "But we must not become complacent: Everyone should continue to wear their masks and socially distance."
Go deeper: Cuomo says all New York schools can reopen for in-person learning