Axios

Target is the latest retailer to report strong quarterly results — sales growth at stores open for at least one year increased the most in 13 years — thanks to the booming economy.

"There's no doubt that, like others, we're currently benefiting from a very strong consumer environment — perhaps the strongest I've seen in my career."

The big picture: Walmart, Home Depot, Kohl's, Macy's and Nordstrom have also recently posted strong results thanks to a hot job market that is leading to higher wages and consumer confidence approaching an 18-year high.

The fight to get severance for thousands of fired Toys "R" Us workers has moved on to a new phase: Attacking the creditors.

Talks continue with buyout firms Bain Capital and KKR, which owned Toys "R" Us prior to its bankruptcy. Expectations remain that they'll contribute substantially to what could ultimately be a $75 million pot, although what I had been told would be an August announcement is now being referred to as a September announcement.

Newspapers around the world reacted Wednesday to the bombshell news that two of President Trump's former associates — former personal attorney Michael Cohen and former campaign chairman Paul Manafort — are guilty of committing felonies.

The big picture: It was one of the most newsworthy days of 2018, and the worldwide media did not hold back in their efforts to encapsulate the threat that these men pose to Trump.

Authorities in Iowa filed charges against an undocumented immigrant in connection with a recovered body believed to be that of 20-year-old University of Iowa student Mollie Tibbetts, who disappeared from her home a month ago.

The state of play: Former Speaker Newt Gingrich emailed Axios' Mike Allen to make sure that we'd be covering this story, which Fox News led with on air and online Tuesday evening, ahead of the Cohen-Manafort news. His take: "If Mollie Tibbetts is a household name by October, Democrats will be in deep trouble. If we can be blocked by Manafort-Cohen, etc., then GOP could lose [the House] badly."

U.K. Foreign Secretary Jeremy Hunt sat down with Axios on his first visit to Washington since replacing Boris Johnson last month, and said his early interactions with President Trump lead him to believe Trump "is actually trying to do something quite different from what a lot of people think."

What he's saying: "I think he absolutely understands the importance of the international order as we know it. You don’t have to persuade him that Russia is up to nefarious activity which is not acceptable and breaches international norms. But his view is that if this international order is going to work, it’s got to be reformed. It’s got to change."

Verizon said Tuesday that it made a customer service mistake by not quickly restoring high-speed wireless service to a fire truck that had gone over its data cap, but insists net neutrality is not to blame.

Why it matters: The Santa Clara, Calif. Fire Department said that during the effort to fight the recent Mendocino Complex fire, one of its trucks, equipped with Verizon wireless service, had its connection speeds dramatically slowed, and was unable to restore full-speed service until it agreed to take out a higher-speed plan.

Senator Elizabeth Warren (D-Mass.) introduced a sweeping anti-corruption bill Tuesday that would impose a lifetime ban on lobbying for presidents and federal lawmakers, restrict elected officials from owning individual stock, and limit lobbying on behalf of foreign governments.

Why it matters: Warren's Anti-Corruption and Public Integrity Act has a slim chance of passing, but it does shine a light on the questionable financial practices of several government officials, from Capitol Hill to the White House — just in time for the November midterm elections and 2020 presidential buzz.

The acquisition of new U.S.-based customers for some streaming services is slowing considerably, according to estimates from broadcast research firm Frank Magid & Associates.

Why it matters: People are streaming more digital video than ever before, but they are less likely to continue to buy into new or additional subscription video streaming services (SVODs) due to growing competition in the space, seasonal content needs and technical work-arounds, like password sharing.

With China’s economy cooling, President Trump and his aides are emboldened on the hardline tariffs strategy that they increasingly believe is jamming President Xi Jinping, officials tell Axios.

Why it matters: For West Wing policy advisers, China has become a rare unifying issue, while deep rifts remain on other trade issues, especially the wisdom of Trump’s plan to impose massive tariffs on car imports.

CoinDesk is the hottest digital media startup that most people haven't heard of, generating around $20 million in revenue through the first seven months of 2018. It's also profitable.

The bottom line: Less than three years ago the business was sold for just $500,000, but that was before cryptocurrencies and blockchain went mainstream.

New research shows hospitals aren't saving a lot of money on routine expenses — such as surgical staples, stents and implants — after they merge with or acquire other hospitals.

Why it matters: Lowering costs is one of the primary justifications hospitals give for consolidating, but this developing research indicates that argument doesn't carry a lot of weight.

More than a dozen companies, including Google, Apple and IBM, are no longer requiring applicants to have college degrees, CNBC reports.

Why it matters: Many jobs have historically required employees to hold college degrees even if they are not relevant or needed. This is connected to an effort to improve diversity and make it easier for those that attend coding boot camps or pursue other non-traditional college paths to be hired.