Photo: Win McNamee/Getty Images

President Trump has privately said he's glad that Democrats took the House in the 2018 midterm elections because he believes it will increase his chances of being re-elected in 2020, the New York Times reports.

The big picture: Trump's outlook is that incoming-Speaker of the House Nancy Pelosi and the House Democrats will "serve as a useful antagonist," per the Times, which notes that both Presidents Bill Clinton and Barack Obama were re-elected after "even bigger midterm setbacks" than Trump saw in November. Former legislative affairs director Marc Short told the Times it's "better to have Nancy Pelosi as a foil than Paul Ryan as a foil." Of course, just wait until the subpoenas start flying — as Trump's glad will likely turn to mad.

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Dan Primack, author of Pro Rata
11 mins ago - Economy & Business

Leon Black says he "made a terrible mistake" doing business with Jeffrey Epstein

Photo illustration: Sarah Grillo/Axios. Photo: Rick Friedman/Corbis/Getty Images

Apollo Global Management CEO Leon Black on Thursday said during an earnings call that he made a "terrible mistake" by employing Jeffrey Epstein to work on personal financial and philanthropic services.

Why it matters: Apollo is one of the world's largest private equity firms, and already has lost at least one major client over Black's involvement with Epstein.

1 hour ago - World

Jeremy Corbyn suspended by U.K. Labour Party over anti-Semitism report

Photo: Christopher Furlong/Getty Images

The U.K. Labour Party has suspended its former leader, Jeremy Corbyn, after a watchdog report found that the party failed to properly take action against allegations of anti-Semitism during his time in charge.

Why it matters: It represents a strong break by Keir Starmer, Labour's current leader, from the Corbyn era and one of the party's most persistent scandals.

U.S. economy sees record growth in third quarter

The U.S. economy grew at a 33.1% annualized pace in the third quarter, the Commerce Department said on Thursday.

The state of play: The record growth follows easing of the coronavirus-driven lockdowns that pushed the economy to the worst-ever contraction — but GDP still remains well below its pre-pandemic level.

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