The XFL's Tampa Bay Vipers line up against the L.A. Wildcats. Photo: John McCoy/Getty Images

The XFL suspended its operations and laid off almost all of its staff Friday with no plans to return in 2021 after its inaugural season was cut short by the coronavirus pandemic, ESPN reports.

Why it matters: The football upstart, which was the second attempt to upend the sport's market by WWE chairman and CEO Vince McMahon, would be the first major sports league to be felled by the coronavirus-driven economic shutdown, despite saying last month that it remained "committed to playing a full season in 2021 and future years."

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Virtual school is another setback for struggling retail industry

Illustration: Annelise Capossela/Axios

A virtual school year will likely push retailers even closer to the brink.

Why it matters: Back-to-school season is the second-biggest revenue generating period for the retail sector, after the holidays. But retailers say typical shopping sprees will be smaller with students learning at home — another setback for their industry, which has seen a slew of store closures and bankruptcy filings since the pandemic hit.

43 mins ago - Health

The pandemic hasn't hampered the health care industry

Illustration: Rebecca Zisser/Axios

The economy has been tanking. Coronavirus infections and deaths have been rising. And the health care industry is as rich as ever.

The big picture: Second-quarter results are still pouring in, but so far, a vast majority of health care companies are reporting profits that many people assumed would not have been possible as the pandemic raged on.

Column / Harder Line

How climate and business woes are sinking a natural-gas project

Illustration: Annelise Capossela/Axios

The Trump administration recently touted its approval of America’s first terminal on the West Coast to export liquefied natural gas. There’s just one problem: it probably won’t be built.

Why it matters: The project in southern Oregon faces political and business hurdles serious enough that those who are following it say it will be shelved. Its problems embody the struggles facing a once-promising sector that's now struggling under the weight of the pandemic and more.