President Trump and Petro Poroshenko. Photo: Mikhail Palinchak\TASS via Getty Images

Michael Cohen was paid at least $400,000 on behalf of Ukrainian president Petro Poroshenko to arrange talks last year with President Trump, BBC reports.

The details: The meeting between Poroshenko and Trump took place in the middle of Trump's first year as president. Cohen was tasked with ensuring it was more than a brief photo-op, and wasn't legally registered as a representative of Ukraine, per the report. He and the the two Ukrainians reportedly responsible for opening the backchannel denied the report. Cohen was also paid millions by corporate America for White House insights.

Go deeper: Michael Cohen goes through the wringer for Trump.

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Trump's new TikTok threat

Photo illustration: Aïda Amer/Axios. Photo: Jim Watson/AFP via Getty Images

President Trump said twice Monday that the U.S. Treasury would need to get a portion of the sale price of TikTok, as a condition of regulatory approval.

Why it matters: This is akin to extortion — the sort of thing you'd expect to hear on a wiretap, not from the White House in front of reporters.

Ford names James Farley as new CEO amid ongoing turnaround effort

James Hackett, left, is retiring as Ford CEO. Jim Farley, right, takes over Oct. 1. Photo: Ford

Ford announced Tuesday that James Farley will take over as its next CEO, replacing James Hackett, 65, who is retiring after three years in the job.

Why it matters: It leaves Farley to complete the company's ongoing turnaround effort. The transition will be that much harder as the industry tries to navigate the coronavirus-induced economic slowdown which shuttered Ford plants for two months on the eve of some of its most important vehicle launches.

Updated 3 hours ago - Politics & Policy

Watch the full "Axios on HBO" interview with President Trump

In this episode of “Axios on HBO”, President Trump discusses his handling of the coronavirus pandemic, the upcoming election and much more with National Political Correspondent Jonathan Swan.

The interview was filmed on Tuesday, July 28 and aired Monday, Aug. 3 on HBO.