Jun 12, 2019

Howard Schultz says he will not campaign this summer, citing health problems

Howard Schultz. Photo: Owen Hoffmann/Patrick McMullan via Getty Images

Former Starbucks CEO Howard Schultz, who has previously said he is considering running for president as a centrist independent, will not campaign this summer after undergoing three separate back surgeries.

Why it matters: Schultz' announcement and subsequent press tour earlier this year set off significant backlash from Democrats who believe running as an independent could help re-elect Trump. Schultz has warned that Democrats nominating a candidate too far to the left would be damaging to the country, but has nonetheless maintained that he will "not be a spoiler."

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Coronavirus kills 2 Diamond Princess passengers and South Korea sees first death

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. U.S. numbers include Americans extracted from Princess Cruise ship.

Two elderly Diamond Princess passengers have been killed by the novel coronavirus — the first deaths confirmed among the more than 600 infected aboard the cruise ship. South Korea also announced its first death Thursday.

The big picture: COVID-19 has now killed more than 2,200 people and infected over 75,465 others, mostly in mainland China, where the National Health Commission announced 118 new deaths since Thursday.

Go deeperArrowUpdated 6 hours ago - Health

SoftBank to cut its stake to get T-Mobile's Sprint deal done

Illustration: Rebecca Zisser/Axios

T-Mobile and Sprint announced a revised merger agreement that will see SoftBank getting a smaller share of the combined company, while most shareholders will receive the previously agreed upon exchange rate. The companies said they hope to get the deal as early as April 1.

Why it matters: The amended deal reflects the decline in Sprint's business, while leaving most shareholders' stake intact and removing another hurdle to the deal's closure.