In this Oct. 26, 2009 file photo, a Verizon Wireless store is seen in Glendale, Calif. AP/Damian Dovarganes

Verizon has started a new program called Verizon Up, in which customers' data is exchanged for rewards, according to the Wall Street Journal.

How it works: Up credit is earned when a customer spends $300 on their Verizon bill. The credits can be exchanged for things like concert tickets, free months of Apple Music or Uber rides. In exchange, Verizon gets the customer's interests, visited websites, location, and more. The exchange is made "clear during the sign-up process."

Why it matters: Telecom providers like Verizon and AT&T want to compete with online platforms like Google and Facebook for a bigger slice of the digital advertising market. That means they need to collect more data about users to attract those advertisers. So they are offering more content and perks rather than simply powering the internet connections to deliver other companies' services.

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Jeremy Corbyn suspended by U.K. Labour Party over anti-Semitism report

Photo: Christopher Furlong/Getty Images

The U.K. Labour Party has suspended its former leader, Jeremy Corbyn, after a watchdog report found that the party failed to properly take action against allegations of anti-Semitism during his time in charge.

Why it matters: It represents a strong break by Keir Starmer, Labour's current leader, from the Corbyn era and one of the party's most persistent scandals.

U.S. economy sees record growth in third quarter

The U.S. economy grew at a 33.1% annualized pace in the third quarter, the Commerce Department said on Thursday.

The state of play: The record growth follows easing of the coronavirus-driven lockdowns that pushed the economy to the worst-ever contraction — but GDP still remains well below its pre-pandemic level.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Large coronavirus outbreaks leading to high death rates — Coronavirus cases are at an all-time high ahead of Election Day — Fauci says U.S. may not return to normal until 2022
  2. Politics: Space Force's No. 2 general tests positive for coronavirus
  3. World: Taiwan reaches a record 200 days with no local coronavirus cases
  4. Europe faces "stronger and deadlier" wave France imposes lockdown Germany to close bars and restaurants for a month.
  5. Sports: Boston Marathon delayed MLB to investigate Dodgers player who joined celebration after positive COVID test.