The Supreme Court on Monday permitted President Trump to proceed with plans to build the White House ballroom.
Why it matters: The 5-4 ruling is likely the final word on the project, which can now proceed with above-ground work after it was halted while the case played out in court.
U.S. Army Secretary Dan Driscoll is stepping down from his post, according to a Department of Defense official.
Why it matters: Driscoll, the youngest Army secretary in U.S. history, was well-liked in the military and regarded as a Trump 2.0 power player who took on a diplomatic role in talks to end the war between Russia and Ukraine.
The nine new drug pricing deals the Trump administration announced with midsize manufacturers Monday came together despite fears within segments of the industry about how price concessions could affect smaller companies' bottom lines.
Why it matters: The administration has been pressuring midsize companies to fall in line with its pricing regime, as it expands the "most favored nation" deals it's already struck with 17 large drug manufacturers.
ASHEVILLE, N.C. — Treasury Secretary Scott Bessent met with Russian Finance Minister Anton Siluanov on the sidelines of the G20 on Monday, a striking sign of the Trump administration's willingness to reopen high-level engagement with Moscow.
Why it matters: Russia's top financial official is attending the gathering of global economic policymakers in person for the first time since Russia's invasion of Ukraine. His appearance exposed the sharp divide between the U.S. and its European allies over how Moscow should be treated.
OpenAI on Monday said its nascent advertising business has reached a $1 billion annualized revenue run rate less than 200 days after its launch.
Why it matters: Advertising revenue is critical to supporting access to free generative AI services. This is especially true for AI companies like OpenAI that are looking to go public in coming months.
President Trump and his team frequently tout the president as the most media-accessible in history — but female reporters in his orbit are often disparaged and belittled, an Axios analysis of his remarks shows.
Why it matters:Press freedom advocates say Trump's attacks on female reporters undermine media trust while exposing individual journalists to harassment.
Treasury Secretary Scott Bessent made a case for lighter financial regulation at the G20 finance ministers gathering Monday, arguing to CEOs that post-crisis rules have squeezed small banks, according to remarks first shared with Axios.
Why it matters: The private sector has a prominent role in the U.S.-led G20, with business leaders like JPMorgan Chase CEO Jamie Dimon and Goldman Sachs chief David Solomon participating alongside finance ministers and central bankers.
California's state legislature last week passed a bill to restrict private equity investment in litigation firms, but it appears to have the bite of a goldfish.
Why it matters: Legal practices are greenfield for private equity, which has spent the past decade buying and rolling up virtually every other type of professional services partnership (financial advisory, medical, etc.).
Aon on Monday agreed to acquire insurance brokerage USI from private equity firm KKR for around $17 billion in cash.
Why it matters: This will help Aon, one of the world's largest professional services firms, dive deeper into the U.S. middle market — following its $13 billion purchase of NFP in 2024 from Madison Dearborn and HPS Investment Partners.
Venture capitalist Josh Kushner is speaking publicly for the first time on his failed efforts to help form a new commercial subsidiary for World Cup organizer FIFA, which would have included up to $4.2 billion in private investment.
Why it matters: This comes just days after European soccer authority UEFA asked a federal judge in Manhattan to approve subpoenas for related testimony and documents from Kushner and his firm Thrive.
TrustedRouter, an AI routing startup, raised $1.25 million from a group of investors, Axios has learned.
Why it matters: The interest in the startup is the latest example of Silicon Valley's obsession with routing, and the bet that businesses won't rely on just one AI model.
The bond market is growing more interesting lately — and that's concerning.
Why it matters: The$160 trillionglobal bond market is like the plumbing in your house. You don't think about it until it stops working and you've got a nasty situation on your hands.
Why it matters: Saving the world with AI-designed cures is better than being blamed for ruining the environment or driving up Americans' utility bills.
Build American AI — an advocacy group tied to pro-AI super PAC Leading the Future — is spending big on the AI data center fight, with plans to pour millions of dollars into battleground states, according to an announcement shared first with Axios.
Why it matters: The data center backlash is becoming a definingissue of the midterms, and supporters of the developments are punching back.
The U.S. military struck Iranian military targets to prevent the deployment of sea mines in the Strait of Hormuz, a U.S. official said.
Why it matters: This is the first known U.S. strike in Iran since late July when President Trump paused a two-week U.S. military campaign in the strait in late July.
