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Photo by Justin Sullivan/Getty Images

Campbell Soup is reportedly near a deal with Dan Loeb's Third Point to add two directors nominated by Loeb to its board and give the activist investor input on picking the company's new chief executive, four days before a key shareholder vote on a board shakeup, Wall Street Journal reports.

Why it matters: The deal — the terms of which Loeb largely rejected months ago per WSJ — would seemingly bring the battle between Third Point and Campbell to an end. However, it falls short of Loeb's activist campaign demands, which called for a slate of five board members handpicked by Third Point. The timing of the news is important too: either Loeb realized the likelihood of Campbell shareholders backing him was slim, per WSJ, or Campbell knew that a close vote would not have been enough to fend off Third Point.

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Illustration: Sarah Grillo/Axios

  1. Health: Large coronavirus outbreaks leading to high death rates — Coronavirus cases are at an all-time high ahead of Election Day — U.S. tops 88,000 COVID-19 cases, setting new single-day record.
  2. Politics: States beg for Warp Speed billions.
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  4. 🎧Podcast: The vaccine race turns toward nationalism.

Technical glitch in Facebook's ad tools creates political firestorm

Facebook CEO Mark Zuckerberg. Photo: SOPA Images / Contributor

Facebook said late Thursday that a mix of "technical problems" and confusion among advertisers around its new political ad ban rules caused issues affecting ad campaigns of both parties.

Why it matters: A report out Thursday morning suggested the ad tools were causing campaign ads, even those that adhered to Facebook's new rules, to be paused. Very quickly, political campaigners began asserting the tech giant was enforcing policies in a way that was biased against their campaigns.

3 hours ago - Health

States beg for Warp Speed billions

A COVID-19 drive-thru testing center yesterday at Hard Rock Stadium in Miami Gardens. Photo: David Santiago/Miami Herald via AP

Operation Warp Speed has an Achilles' heel: States need billions to distribute vaccines — and many say they don't have the cash.

Why it matters: The first emergency use authorization could come as soon as next month, but vaccines require funding for workers, shipping and handling, and for reserving spaces for vaccination sites.

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