Paul Sakuma / AP

Signet Jewelers, owner of Kay, Zales, and Jared, is looking to drop out of malls: it's going to close between 165 - 170 stores this year and is aiming to open 90 - 115 stores elsewhere. Signet is the largest specialty retail jeweler in the U.S., U.K., and Canada.

Breaking it down: This adds to retailers' continued exodus from malls as they eye locations with better traffic to boost sales.

Another move to boost business: Signet is outsourcing its credit portfolio, which allows customers to make purchases, for a few reasons: "eliminating material credit risk...enhancing net sales...minimizing any disruption to business," according to the earnings conference call. Last year in-house credit sales dropped by 12.6%.

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Trump's new TikTok threat

Photo illustration: Aïda Amer/Axios. Photo: Jim Watson/AFP via Getty Images

President Trump said twice Monday that the U.S. Treasury would need to get a portion of the sale price of TikTok, as a condition of regulatory approval.

Why it matters: This is akin to extortion — the sort of thing you'd expect to hear on a wiretap, not from the White House in front of reporters.

Ford names James Farley as new CEO amid ongoing turnaround effort

James Hackett, left, is retiring as Ford CEO. Jim Farley, right, takes over Oct. 1. Photo: Ford

Ford announced Tuesday that James Farley will take over as its next CEO, replacing James Hackett, 65, who is retiring after three years in the job.

Why it matters: It leaves Farley to complete the company's ongoing turnaround effort. The transition will be that much harder as the industry tries to navigate the coronavirus-induced economic slowdown which shuttered Ford plants for two months on the eve of some of its most important vehicle launches.

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Watch the full "Axios on HBO" interview with President Trump

In this episode of “Axios on HBO”, President Trump discusses his handling of the coronavirus pandemic, the upcoming election and much more with National Political Correspondent Jonathan Swan.

The interview was filmed on Tuesday, July 28 and aired Monday, Aug. 3 on HBO.