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President Donald Trump returns to the White House Monday after his vacation in Bedminster, NJ (Alex Brandon / AP).

According to an executive who was involved in today's decision to disband President Trump's top outside business board, the CEOs decided they "couldn't justify the capital they were spending, hoping that this guy can function in a somewhat mature and statesmanlike way."

Trump used a tweet to preemptively shut down his top two business councils as soon as word leaked about the coming snub by the members of the President's Strategic and Policy Forum, chaired by Blackstone CEO Steve Schwarzman.

The executive told me: "Everyone knew, going in, that this was the way the guy was. They were just hoping that if he got the right people and decisionmaking processes in place, he could grow into the job. He proved he has no capability to do that." Yesterday's presser about Charlottesville was the last straw.

Why it matters … Axios CEO Jim VandeHei just told Nicolle Wallace on MSNBC: "Today is an awful day for the presidency – an awful day. … Hedid have those business leaders, who he needs: He's about to do tax reform! He's about to ask them to spend money, to spend political capital, to spend time to go get tax reform done."

  • "Now he has a massive public rebuke, in a way that we have not seen at any point in the Trump reign. So there's no way for them to spin it. And I think it gets worse: These CEOs are under so much pressure – internally, at home – in their own households."

Go deeper: Full recap on Trump's councils shutting down.

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Go deeper

DiDi to delist from NYSE under Chinese govt pressure

Illustration: Sarah Grillo/Axios

Chinese ride-hail giant DiDi said it will delist from the New York Stock Exchange, following a Chinese government crackdown on foreign listings.

Why it matters: This reflects how geopolitical tensions are bleeding into the capital markets.

Updated 13 mins ago - Health

Omicron cases confirmed in 5 U.S. states

A healthcare worker inserts a Covid-19 rapid test into a machine in Denver, Colorado. Photo: Daniel Brenner/Bloomberg via Getty Images

Hawaii became on Thursday the fifth state to confirm the newly discovered Omicron variant after New York announced five new cases earlier in the day.

The latest: In Hawaii, the variant was found in an unvaccinated O'ahu resident with moderate symptoms who had previously been infected with COVID-19, per a state health department statement. The variant has also been confirmed in California, Colorado and Minnesota.

Senate Dems receive max donations from Nord Stream 2 lobbyist

Illustration: Annelise Capossela/Axios

A major Democratic donor and Nord Stream 2 lobbyist has made maximum campaign contributions this year to Senate Majority Leader Chuck Schumer and vulnerable Senate Democrats, campaign finance records show.

Why it matters: If pressure from the White House to vote against reimposing sanctions on the Russia-backed natural gas pipeline weren't enough, Democrats who back such legislation also will be at loggerheads with one of their party's top fundraisers.