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Japan to declare state of emergency in Tokyo 2 weeks before Olympics

Japan's government is set to declare a state of emergency for Tokyo due to a COVID-19 spike, a minister who heads the government's coronavirus response said Thursday, per Reuters.

Why it matters: It'll be in effect throughout the Olympics, confirmed Yasutoshi Nishimura, the economy minister, after a government meeting. The government will decide after talks with International Olympic Committee officials later Thursday whether to ban all spectators, which medical experts say could help slow the virus' spread, AP notes.


Of note: The declaration will run from July 12 to Aug 22 and is expected to be formally announced by Prime Minister Yoshihide Suga later in the day.

  • The Games are due to begin with the opening ceremony on July 23.

Flashback: International Olympic Committee Vice President John Coates said in May that the Tokyo Olympics will proceed even if the city or other parts of Japan are under a COVID-19 state of emergency.

By the numbers: Tokyo reported 920 new coronavirus cases on Wednesday, which was the highest total since 1,010 were reported on May 13, according to ESPN.

The big picture: Olympic organizers announced in June that venues can be filled up to 50% capacity with local fans with a maximum of 10,000 spectators at each event.

Go deeper ... Axios Today podcast: Controversy ahead of the Olympics

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Billionaire philanthropist Robert Smith's tax fraud roils Vista Equity

Robert Smith's admission to tax fraud has done more than just cost him a whopping $140 million. It's also roiled Vista Equity Partners, the private equity firm he founded and leads, with some insiders and limited partners feeling they were misled (or left in the dark) about the extent of Smith's legal troubles.

Behind the scenes: Smith called a virtual meeting of Vista's managing directors and other top staffers on Wednesday, to discuss details of his settlement. A source says he called the overall experience "humbling" and that he regretted the "undue burden" that his actions had put on others, including some Vista colleagues.

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4 board members of Texas power grid operator ERCOT resign

Four members of Texas' power grid operator resigned from their posts Tuesday after a winter storm led millions of homes to lose power across the state last week, according to a public filing.

Why it matters: Their resignations come days after Texas' public utility commission launched a probe to discover the "factors that combined with the devastating winter weather to disrupt the flow of power," throughout the state.

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CDC expects new COVID surge starting this month

Coronavirus cases across the U.S. are likely to peak this month before dropping by July, the Centers for Disease Control and Prevention said Wednesday.

The state of play: America's rate of daily new COVID cases has declined in recent weeks, per data from Johns Hopkins University. Health officials are urging people to remain vigilant as variants spread, some of which are more contagious and deadly than the original strain of the virus.

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