Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Bannon speaks at a rally in Arizona. Photo: Ross D. Franklin / AP

In a Friday night phone call, President Trump's former chief strategist and enforcer Steve Bannon told Trump he was going "off the chain" to destroy Paul Singer, a New York hedge fund billionaire who is one of the most influential donors to the Republican Party.

Trump agreed with Bannon that it needed to be done, according to two sources familiar with the conversation. (Though I'm also told that Trump has since told at least one other person that Singer is "on the team" — suggesting that maybe he's telling everyone what they want to hear.)

A cautionary note for those wanting to oppose Singer: A source familiar with the arrangements told me that Singer has already made a "major commitment" and cut substantial checks to outside groups to support the president's tax reform push.

Why this matters: Bannon spoke to Trump shortly after the New York Times broke the news that a Singer-funded conservative website first paid for anti-Trump research by the firm, Fusion GPS, that later produced the infamous Russia dossier. The dossier alleges that the Trump campaign conspired with the Russian government to influence the 2016 presidential election. It also contains unsubstantiated sexual allegations.

  • A source close to Singer said the billionaire had no idea who Fusion GPS was until they became a subject of news reports related to Trump and Russia. Though the source added that of course Singer generally knew — and it was public knowledge — that the website he funds, the Washington Free Beacon, paid for opposition research.
  • Free Beacon editors told the NYT the outlet had nothing to do with the dossier that the Clinton campaign funded.
  • Since the story broke, the president has told several people he views the NYT revelations as a "win" for Republicans because they show that only Democrats and the Clinton campaign paid for the controversial dossier, produced by former British intelligence officer Christopher Steele.
  • Trump's tweets this morning reinforce that message: "Never seen such Republican ANGER & UNITY as I have concerning the lack of investigation on Clinton made Fake Dossier..."

In their Friday phone call, Bannon told Trump he had been looking for a long time "to set things right with Singer and his entire crew," according to a source familiar with the conversation.Since the NYT story broke, Bannon's right-wing media outlet, Breitbart News, has been relentlessly attacking Singer and calling on politicians who've taken money from him to return the donations.Background: Trump loathed Singer during the campaign, when the billionaire was a lead financier of the "Never Trump" movement. But the two made up earlier this year, and Singer has been financially very helpful since Trump won the presidency. He donated $1 million to Trump's inauguration and has supported various administration efforts including funding the successful outside campaign to back the confirmation of Neil Gorsuch to the Supreme Court.Bottom line: Bannon has long despised Singer. In Bannon's worldview, Singer belongs to a "globalist" cabal that favors open borders and includes other bogeymen and bogeywomen such as George Soros and Hillary Clinton. It's also helpful to Bannon that Singer has close ties Mitch McConnell — the Senate GOP leader whom Bannon is obsessed with destroying.Based on my reporting so far, however, I'd be surprised if Trump publicly joins the fight against one of the most important donors in Republican politics.

Go deeper

Chauvin trial leaves cities, activists across America on edge

Illustration: Brendan Lynch/Axios

The impact of the Derek Chauvin trial is reverberating far beyond the walls of the downtown Minneapolis courtroom.

The state of play: With the trial set to enter its third week, activists across America are watching the proceedings unfold with heavy skepticism that what they perceive as justice will be served.

Felix Salmon, author of Capital
2 hours ago - Economy & Business

The dispiriting housing boom

Illustration: Sarah Grillo/Axios

It's a discouraging scene: Bidding wars, soaring prices, and fears that homeownership is becoming out of reach for millions of Americans. We're in a housing frenzy, driven by a massive shortage of inventory — and no one seems to be happy about it.

Why it matters: Not all bubbles burst. Real estate, in particular, tends to rise in value much more easily than it falls. Besides, says National Association of Realtors chief economist Lawrence Yun, this "is not a bubble. It is simply lack of supply."

Updated 6 hours ago - World

China's COVID vaccines have low efficacy rates, official says

China Centers for Disease Control director Gao Fu at a March event in Beijing, China. Photo: Han Haidan/China News Service via Getty Images

The Chinese Center for Disease Control and Prevention's director said Saturday authorities are considering mixing COVID-19 vaccines because the country's domestically made doses "don't have very high protection rates," per AP.

Why it matters: The remarks by the Gao Fu at a news conference in the southwestern city of Chengdumark mark the first time a Chinese health official has spoken publicly about the low efficacy of vaccines made in China.

You’ve caught up. Now what?

Sign up for Mike Allen’s daily Axios AM and PM newsletters to get smarter, faster on the news that matters.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!