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Proctor & Gamble slashed its budget by $200 million. Photo: Raymond Boyd / Getty Images

"Turmoil on Madison Avenue as Marketers Push for Change ... P&G slashes digital ad spending, calls for disrupting 'archaic Mad Men model'" from the Wall Street Journal's front page.

Why it matters: "It represents an important shift after years of marketers raising digital ad spending almost reflexively."

  • What's new: "The world’s biggest marketers are taking aggressive steps to change how they buy ads, triggering upheaval across the advertising industry."
  • What happened: "Procter & Gamble Co. ... slashed spending on digital advertising by more than $200 million last year, after a recent push for more transparency had revealed such spending to be largely wasteful."
  • "WPP, the world’s largest ad agency company, ... logged its worst performance since the financial crisis, posting a decline in net sales for the year and projecting no growth in 2018."
  • "Among the reasons: Big clients like P&G and Unilever PLC have been stepping up their campaigns to cut ad agency costs."

Go deeper

Cedric Richmond: We won't wait on GOP for "insufficient" stimulus

Top Biden adviser Cedric Richmond told "Axios on HBO" the White House believes it has bipartisan support for a stimulus bill outside the Beltway.

  • "If our choice is to wait and go bipartisan with an insufficient package, we are not going to do that."

The big picture: The bill will likely undergo an overhaul in the Senate after House Democrats narrowly passed a stimulus bill this weekend, reports Axios' Kadia Goba.

Updated 5 mins ago - Politics & Policy

Cuomo asks for “independent” investigator into sexual harassment claims

New York Governor Andrew Cuomo at a press conference on Feb. 24. Photo: Seth Wenig/pool/AFP via Getty Images

A top aide to Gov. Andrew Cuomo said that he would authorize and "voluntarily cooperate" with an independent investigation run by New York's attorney general into claims he sexually harassed several women.

The state of play: The statement comes after a day of competing statements from Cuomo and AG Letitcia James over who would oversee an independent investigation into the governor.

Cuomo scandal snares Dems on #MeToo

Illustration: Eniola Odetunde/Axios. Photo: Ray Tamarra/Getty Images   

The searing sexual harassment allegations made against Gov. Andrew Cuomo are trouble for Democrats far beyond Albany and New York.

Why it matters: They hammered Donald Trump after the "Access Hollywood" tape. Pilloried Brett Kavanaugh over Christine Blasey Ford. Defended President Biden when he was accused of inappropriate touching. Now, Democrats have to show whether they walk the "#MeToo" talk.