Axios hosts a conversation on the future of work at Howard University in Washington, D.C., featuring JPMorgan Chase CEO Jamie Dimon, MSNBC hosts Stephanie Ruhle and Ali Velshi, AOL co-founder Steve Case and comedian and writer Baratunde Thurston.
Suspended Cambridge Analytica (CA) CEO Alexander Nix said his firm "ran all the digital campaign" for President Donald Trump and played a crucial role in Trump winning the electoral college by a margin of 40,000 votes in three states, reports the UK's Channel 4 News. While being secretly recorded by an undercover reporter, Nix and other CA executives discussed how they acted as a conduit between the Trump campaign and outside super PACs — which is illegal under U.S. election law.
Bloom Energy, a Sunnyvale, Calif.-based fuel cell company that provides on-site power generation to large facilities, reportedly has restarted its IPO process and could list in the second quarter.
Why it's a big deal: Because Bloom is a survivor, albeit one with nearly $1 billion in venture funding and some unexpected help from the Trump administration. Most other capital-intensive "cleantech" startups from the early aughts failed, leading VCs to largely abandon the sector (including some of Bloom's own backers, like Kleiner Perkins).
The Wall Street Journal has the latest evidence that Saudi Arabia is delaying and potentially scaling back plans for the IPO of state oil giant Aramco. The paper reported yesterday that the Saudis will move ahead next year with a listing only on their domestic exchange, called the Tadawul, while "taking more time to decide if an international venue is worth it."
The intrigue: The WSJ story arrived on the eve of President Trump's meeting today with Crown Prince Mohammed bin Salman. Trump has urged the Saudis to select the U.S. as the international venue for what could be the largest IPO ever.
"Harvey Weinstein's embattled movie studio — once a premier maker of award-winning films — has filed for Chapter 11 bankruptcy more than five months after sexual misconduct allegations against its co-founder sent the company spiraling out of control," the L.A. Times reports.
The big picture: The company is also releasing its employees from non-disclosure agreements as part of the bankruptcy filing. New York AG Eric Schneiderman, who has been investigating the company, said, "The Weinstein Company's agreement to release victims of and witnesses to sexual misconduct from non-disclosure agreements ... will finally enable voices that have for too long been muzzled to be heard."
"The Trump administration plans to impose tariffs worth as much as $60 billion on Chinese products as early as this week to punish Beijing for what the U.S. perceives as intellectual property theft from American businesses," Bloomberg reports.
Why it matters, from WashPost: "Senior aides had presented Trump with a $30 billion tariff package that would apply to a range of products, but Trump directed them to roughly double the scope of the new trade levies."
Newspaper publisher Tronc has had a rocky few months. Plagued by management shakeups, unionization battles, layoffs and accusations of sexual harassment, the media group formerly known as Tribune Publishing has struggled in its efforts to adapt to a digital landscape.
Why it matters: An underwhelming year-end earnings report further sounded the alarm for Tronc investors earlier this month, causing the company to lose almost a quarter of its market value in a single trading session.
iHeart Media, the country's biggest radio broadcaster, filed for bankruptcy protection last week. The news came after the company said it expected bankruptcy within a year last April and after its greatest rival, Cumulus Media, filed in November.
Why it matters: The fates of iHeart and Cumulus raise questions about the future of terrestrial radio, which is struggling to compete with digital broadcasting and streaming services like Spotify. Although the companies' ad-driven revenue model is facing headwinds, market research indicates that consumers are still tuning into radio in robust numbers.
Two women are accusing former Tronc chairman Michael Ferro of making inappropriate advances toward them, Fortune reports.. This comes just hours after announcing his retirement from the company.
Why it matters: Some were calling into question the timing of Ferro's retirement, as Tronc is currently in the process of finalizing the $500 million sale of the Los Angeles Times and the San Diego Union-Tribune. Fortune reached out to Ferro last week with the details of both women's accounts, but he declined to be interviewed.
Cheddar, an online video network for business and tech news, has raised $22 million in new funding at what Axios is told is a $140 million pre-money valuation. It previously raised last May at a $64 million pre-money valuation.
Why it matters: Cheddar claims that 20% of Americans between 18 and 24 is aware of its brand — with 13% of that cohort having viewed Cheddar content — in an age when traditional news broadcasters are struggling to connect with younger viewers.
The future of Toys "R" Us may be determined tomorrow in a Virginia bankruptcy court hearing that one source tells me will be "explosive."
At issue will be whether liquidation of the entire U.S. business will proceed as the only option (per preference of the "B-4 lender" group) or if a parallel process can continue whereby different debtors can keep working to find a strategic or financial partner that would save around 200, strong-performing U.S. stores (via a merger with the company's much-healthier Canada business).
Michael Ferro, chairman of newspaper publisher Tronc, is retiring from the board of directors as the company looks to finalize a $500 million sale of the Los Angeles Times and the San Diego Union-Tribune to local ownership. He will be succeeded by Tronc CEO Justin Dearborn.
Why it matters: Tronc is the country's third largest newspaper publisher and operates publications in 10 markets, including the Chicago Tribune, New York Daily News and The Baltimore Sun. Dozens of employees were laid off at the Tribune last week.
In a new program, Google is partnering with retailers including Target, Walmart, Home Depot and Costco, according to Reuters. "[R]etailers can list their products on Google Search, as well as on the Google Express shopping service, and Google Assistant on mobile phones and voice devices."
Why it matters: "Google hopes the program helps retailers capture more purchases on desktop, cell phones and smart home devices with voice search."
Forty-five trade associations representing some of the country's largest companies are urging President Trump to freeze his plan to impose another round of steep tariffs on China after his recent actions on imported steel and aluminum.
Why it matters: Their Sunday letter to Trump signals a growing rift between the Trump administration and the business community on international trade. Trump's recent tariffs plan drew rebukes from mainstream Republicans, industry leaders, and foreign leaders.
