Jan 28, 2019

Bloomberg dismisses Howard Schultz's theory on moderate voters

Former New York City Mayor and billionaire Michael Bloomberg is out with a statement on the viability of an independent candidacy, which Starbucks CEO Howard Schultz is openly mulling.

What he's saying: "The data was very clear and very consistent. Given the strong pull of partisanship and the realities of the electoral college system, there is no way an independent can win. That is truer today than ever before."

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SoftBank to cut its stake to get T-Mobile's Sprint deal done

Illustration: Rebecca Zisser/Axios

T-Mobile and Sprint announced a revised merger agreement that will see SoftBank getting a smaller share of the combined company, while most shareholders will receive the previously agreed upon exchange rate. The companies said they hope to get the deal as early as April 1.

Why it matters: The amended deal reflects the decline in Sprint's business, while leaving most shareholders' stake intact and removing another hurdle to the deal's closure.

Trump indulges Wall Street with Milken pardon

Photo Illustration: Sarah Grillo/Axios. Photo: Chris Graythen/Getty Images

Donald Trump loves Wall Street shenanigans. Companies owned by him have declared bankruptcy six different times, and he was once sued alongside Mike Milken for participating in a scheme to artificially inflate junk-bond prices.

Driving the news: Trump pardoned Milken this week, with an official statement positively gushing over Milken's role in developing the wilder side of fixed-income capital markets.