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Senate Democrats reach deal on extending unemployment insurance

Senate Democrats struck a deal Friday evening on extending unemployment insurance in the President Biden's $1.9 trillion COVID-19 relief package after deliberating for most of the day, per a Senate aide.

Why it matters: The deal allows Congress to move forward with voting on amendments to the bill, though it caused a massive delay in the 20-hour debate over the legislation.


  • Sen. Joe Manchin (D-W.V.) backed his party’s proposal, after reluctance to support an earlier version.

The big picture: Democrats will now offer an amendment extending the enhanced unemployment insurance of $300 per week through Sept. 6. The bill passed by the House pushed the program through Aug. 29.

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Private equity firms buy Medline in largest buyout since the financial crisis

When news broke last month that groups of buyout firms were bidding around $30 billion to buy medical supplies firm Medline Industries, we speculated that it could kick off a new "Golden Age" of private equity, an era that directly preceded (but didn't cause) the financial crisis.

Driving the news: Medline has picked its patrons, a consortium led by The Blackstone Group, The Carlyle Group and Hellman & Friedman. But the details make this feel more like a growth equity deal on steroids than a mega-LBO of yesteryear.

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