Photo: Justin Sullivan/Getty Images

Altria Group is expected to take a $4.5 billion writedown on its original $12.8 billion investment in e-cigarette maker Juul, AP reports.

The big picture: Altria, which owns Marlboro and other nicotine products, acquired a 35% stake in Juul in 2018, which has since dropped in value amid rising health concerns and deaths related to vaping.

  • Juul CEO Kevin Burns stepped down last month and was replaced by Altria executive K.C. Crosswaite. The e-cigarette company has since axed many of its flavored products in the U.S., which are argued to be marketed to youth and teen consumers.

Of note: The number of vaping deaths reached 37 as of Thursday, and illnesses have swelled to well over 1,000.

Go deeper... Expert Voices: Regulatory gaps are exacerbating the youth vaping crisis

Go deeper

Report: Goldman to settle DOJ probe into Malaysia's 1MDB for over $2B

Illustration: Lazaro Gamio/Axios

Goldman Sachs has agreed with the Department of Justice to pay over $2 billion for the bank's role in Malaysia's multi-billion dollar scandal at state fund 1MDB, Bloomberg first reported.

Why it matters: The settlement, expected to be announced within days, would allow Goldman Sachs to avoid a criminal conviction in the U.S. over the bribery and money laundering scandal that saw three of its former bankers banned for life from the banking industry by the Federal Reserve Board.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Americans feel Trump's sickness makes him harder to trustFlorida breaks record for in-person early voting — McConnell urges White House not to strike stimulus deal before election — Republican senators defend Fauci as Trump escalates attacks.
  2. Health: The next wave is gaining steam.
  3. Education: Schools haven't become hotspots — University of Michigan students ordered to shelter-in-place.
  4. World: Ireland moving back into lockdown — Argentina becomes 5th country to report 1 million infections.

Trump threatens to post "60 Minutes" interview early after reportedly walking out

Trump speaks to reporters aboard Air Force One, Oct. 19. Photo: Mandel Ngan/AFP via Getty Images

President Trump tweeted on Tuesday that he was considering posting his interview with CBS' "60 Minutes" prior to airtime in order to show "what a FAKE and BIASED interview" it was, following reports that he abruptly ended the interview after 45 minutes of taping.

Why it matters: Trump has escalated his war on the media in the final stretch of his re-election campaign, calling a Reuters reporter a "criminal" this week for not reporting on corruption allegations about Hunter Biden and disparaging CNN as "dumb b*stards" for the network's ongoing coronavirus coverage.