Jan 28, 2019

Michael Cohen to give closed testimony to House Intel

Michael Cohen. (Photo: Drew Angerer/Getty Images)

Former Trump lawyer Michael Cohen has voluntarily agreed to testify behind closed doors to the House Intelligence Committee on Feb. 8, committee chair Adam Schiff announced in a statement today.

Why it matters: Cohen said last week that he was postponing his testimony in front of the House Oversight Committee — originally scheduled for Feb. 7 — due to "threats against his family from President Trump and Mr. Giuliani," as well as his cooperation in ongoing investigations. House Oversight chair Elijah Cummings and Schiff issued a statement following that saying, while they understood Cohen's concerns, "not appearing before Congress was never an option."

Go deeper: Michael Cohen postpones House testimony, blames Trump "threats"

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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.

Trump indulges Wall Street with Milken pardon

Photo Illustration: Sarah Grillo/Axios. Photo: Chris Graythen/Getty Images

Donald Trump loves Wall Street shenanigans. Companies owned by him have declared bankruptcy six different times, and he was once sued alongside Mike Milken for participating in a scheme to artificially inflate junk-bond prices.

Driving the news: Trump pardoned Milken this week, with an official statement positively gushing over Milken's role in developing the wilder side of fixed-income capital markets.