Jun 8, 2017 - Technology

Verizon's Yahoo purchase expected to close next week

Marcio Jose Sanchez / AP

Yahoo's shareholders signed off Thursday on the sale of the company's core assets to Verizon, with the deal expected to close on Tuesday.

Worth noting: Job cuts are expected to accompany the deal. TechCrunch reported on Thursday that cuts are expected to amount to about 15% of the firms' combined workforce, echoing an earlier report from Recode that layoffs were coming.

Why it matters: It's been a long road to this deal because of revelations about breaches that hit Yahoo's user data and ultimately resulted in a price reduction for Verizon. But the merger is an important part of Verizon's strategy to become a bigger player in the digital ad world dominated by Facebook and Google.

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Jeff Tracy
25 mins ago - Sports

Pac-12 football players threaten coronavirus opt-out

Illustration: Eniola Odetunde/Axios

A group of Pac-12 football players have threatened to opt out of the season unless the conference addresses systemic inequities and concerns related to the coronavirus pandemic.

Why it matters: College football players have never had more leverage than they do right now, as the sport tries to stage a season amid the pandemic. And their willingness to use it shows we've entered a new age in college sports.

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Dion Rabouin
47 mins ago - Economy & Business

Betting on inflation is paying off big for investors

Illustration: Aïda Amer/Axios

The specter of rising inflation is helping power assets like gold, silver and Treasury Inflation-Protected Securities (TIPS) to strong returns with record demand this year.

The big picture: Investors continue to pack in even as inflation metrics like the consumer price index (CPI) and personal consumption expenditure (PCE) index have remained anchored.

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Dion Rabouin
57 mins ago - Economy & Business

Scoop: Top CEOs urge Congress to help small businesses

Illustration: Eniola Odetunde/Axios

With a new coronavirus relief measure stalled in Congress, CEOs of some of the world's biggest companies have banded together to send a message to Washington: Get money to small businesses now!

Why it matters: "By Labor Day, we foresee a wave of permanent closures if the right steps are not taken soon," warns the letter, organized by Howard Schultz and signed by more than 100 CEOs.

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