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Magic Leap in talks for new funding

Illustration courtesy of Magic Leap

Magic Leap, the secretive "mixed reality" company, is seeking to raise more than $500 million in new funding at around a $6 billion valuation, as Bloomberg earlier reported and Axios has confirmed with a source. Among the expected participants is Singapore-based sovereign wealth fund Temasek.

Florida-based Magic Leap has already raised more than $1.3 billion in funding from investors like Alibaba, Qualcomm, and Google. It was last valued at $4.5 billion. The company is reportedly developing devices for so-called "mixed reality," a combination of virtual and augmented reality, although it has yet to publicly unveil any products.

A company spokesperson has not returned a request for comment.

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Trump: Transgender people "disqualified" from the military

SecDef Jim Mattis and Gen. Joseph Dunford.
Secretary of Defense Jim Mattis and Gen. Joseph Dunford. Photo: Andrew Harrer-Pool / Getty Images

President Trump late Friday issued an order disqualifying most transgender people from serving in the military.

"[T]ransgender persons with a history or diagnosis of gender dysphoria -- individuals who the policies state may require substantial medical treatment, including medications and surgery -- are disqualified from military service except under certain limited circumstances."

Why it matters: Anything short of an inclusive policy for transgender troops will be viewed as a continuation of the ban Trump announced on Twitter in August.

Haley Britzky 14 hours ago
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Both Bush and Obama also requested line item veto power

Donald Trump.
Photo: Mark Wilson / Getty Images

President Trump tweeted on Friday evening that to avoid having "this omnibus situation from ever happening again," he wants Congress to re-instate "a line-item veto."

Why it matters: This would allow him to veto specific parts of a bill without getting rid of the entire thing. Trump was deeply unhappy with the $1.3 trillion spending bill approved by Congress early Friday morning, but signed it anyway on Friday afternoon.