Get the latest market trends in your inbox

Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. 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!

Denver news in your inbox

Catch up on 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!

Des Moines news in your inbox

Catch up on 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!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

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!

Illustration: Sam Jayne / Axios

Steve Bannon has stepped down as executive chairman of Breitbart News. SiriusXM has now also cancelled his radio show, as "the agreement is with Breitbart."

The big picture: Trump got his scalp. He forced everyone inside and close to the White House to make a binary choice: “it’s me or Steve.” For everyone, including some of Bannon’s close allies, it was an easy choice. Almost everyone abandoned Bannon.

Between the lines:

  • This was the Mercers forcing his hand. It wasn’t just Bannon’s quotes to Wolff but how he mishandled the fallout. He took five days to issue a weak apology, which fell flat.
  • Right up until today Steve was telling associates everything was going to be fine (but he always does that when he’s under the gun.) But his associates knew this was coming. The Mercers had turned against him months ago. 
  • Per source close to the White House: “God, I can’t believe the whole movement just collapsed on this guy. He’s done.”
  • Per a former WH ally of Bannon’s: “I’ve gone from being sympathetic to Steve to believing he’s a genuinely bad guy, totally duplicitous. It’s a shame. He has a lot of talent. But his self-destructive streak is unlike anything I’ve ever seen.”

Go deeper:

From Breitbart's statement:

  • Bannon said, “I’m proud of what the Breitbart team has accomplished in so short a period of time in building out a world-class news platform.”
  • According to Breitbart CEO Larry Solov, “Steve is a valued part of our legacy, and we will always be grateful for his contributions, and what he has helped us to accomplish.”

Go deeper

1 hour ago - World

Iran confirms assassination of top nuclear scientist Mohsen Fakhrizadhe

The Iranian ministry of defense issued a statement on Friday confirming the assassination of Mohsen Fakhrizadhe, an Iranian scientist and the architect behind the Islamic Republic’s military nuclear program.

Why it matters: Fakhrizadhe was the head of the Amad project in the Iranian ministry of defense, which focused on developing a nuclear bomb until 2003.

U.K. to launch new watchdog next year to police digital giants

Photo: Muhammed Selim Korkutata/Anadolu Agency/Getty Images

The U.K. government said on Friday that it will establish next year a Digital Markets Unit, which will enforce forthcoming "pro-competition" regulations aimed at curbing some of the digital platforms like Google and Facebook.

Why it matters: This is the latest move by a government to respond to growing objections to the size and power these companies have amassed.

Get Axios AM in your inbox

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!