SaveSave story

Arby's is buying Buffalo Wild Wings

Arby's this morning announced that it will acquire Buffalo Wild Wings for around $2.4 billion, or $157 per share in cash. It would be the fourth-largest U.S. restaurant acquisition of all-time, if you include assumed debt.

Reproduced from S&P Global Market Intelligence; Chart: Axios Visuals

Go deeper: Why Buffalo Wild Wings went on the block

Mike Allen 4 hours ago
SaveSave story

A White House olive branch: no plan to fire Mueller

Photo: Jim Watson / AFP / Getty Images

After a weekend at war with the Mueller investigation, the White House is extending an olive branch. Ty Cobb, the White House lawyer handling the probe, plans to issue this statement:

“In response to media speculation and related questions being posed to the Administration, the White House yet again confirms that the President is not considering or discussing the firing of the Special Counsel, Robert Mueller.”

Why it matters: The White House strategy had been to cooperate with Mueller. So this is an effort to turn down the temperature after a weekend of increasingly personal provocations aimed at the special counsel.

Jonathan Swan 6 hours ago
SaveSave story

Trump's trade plan that would blow up the WTO

President Trump announces tariffs on steel and aluminum earlier this month, flanked by Steven Mnuchin, Wilbur Ross, Robert Lighthizer, and Peter Navarro. Photo: Chip Somodevilla / Getty Images

For months, President Donald Trump has been badgering his economic advisors to give him broad, unilateral authority to raise tariffs — a move that would all but break the World Trade Organization.

His favorite word: “reciprocal.” He’s always complaining to staff about the fact that the U.S. has much lower tariffs on some foreign goods than other countries have on the same American-made goods. The key example is cars: The European Union has a 10 percent tariff on all cars, including those manufactured in America, and China hits all foreign-made cars with 25 percent tariffs. But the U.S. only charges 2.5 percent for foreign cars we import.