Putin and Macron shake hands at Versailles in May, 2017. Photo: Chesnot/Getty Images

Russia claims Presidents Vladimir Putin and Emmanuel Macron agreed on a phone call to stay in “close contact” and coordinate their actions to avoid military escalation in Syria, per the AP. The French readout did not mention coordination.

What it means: Trump is also coordinating next steps with the French, along with the British. If Russia is being kept in the loop, that reduces the likelihood of escalation. But if strikes only target the Assad regime and not Russia and Iran, “it will not harm Assad’s backers and therefore is unlikely to weaken [Assad's] resolve,” according to Jenny Cafarella of the Institute for the Study of War.

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Coronavirus surge punctures oil's recovery

Illustration: Aïda Amer/Axios

The growth of coronavirus cases is "casting a shadow" over oil's recovery despite the partial demand revival and supply cuts that have considerably tightened the market in recent months, the International Energy Agency said Friday.

Why it matters: IEA's monthly report confirms what analysts have seen coming for a long time: Failure to contain the virus is a huge threat to the market rebound that has seen prices grow, but remain at a perilous level for many companies.

2 hours ago - Sports

Big Ten's conference-only move could spur a regionalized college sports season

Illustration: Aïda Amer/Axios

The Big Ten announced Thursday that it will move all fall sports to a conference-only schedule.

Why it matters: This will have a snowball effect on the rest of the country, and could force all Power 5 conferences to follow suit, resulting in a regionalized fall sports season.

The second jobs apocalypse

Illustration: Aïda Amer/Axios

This week, United Airlines warned 36,000 U.S. employees their jobs were at risk, Walgreens cut more than 4,000 jobs, Wells Fargo announced it was preparing thousands of terminations this year, and Levi's axed 700 jobs due to falling sales.

Why it matters: We have entered round two of the jobs apocalypse. Those announcements followed similar ones from the Hilton, Hyatt, Marriott and Choice hotels, which all have announced thousands of job cuts, and the bankruptcies of more major U.S. companies like 24 Hour Fitness, Brooks Brothers and Chuck E. Cheese in recent days.