Jul 24, 2017

Michael Flynn returns to private equity consulting

Saul Loeb / Pool Photo via AP

Donald Trump's former National Security Advisor Michael Flynn has returned to the business of consulting private equity firms, having formed a new shop called Resilient Patriot, per an AP interview with Flynn's brother.

  • Prior to his short-lived role in the Trump Administration, Flynn consulted for private equity firm Francisco Partners – owner of Procera Networks, which was controversial for its work with the Turkish government.
  • Flynn also was a paid advisor for Francisco portfolio company NSO Group, an Israeli cybersecurity company whose software was used by the Mexican government to spy on journalists and anti-corruption advocates. This past weekend there was an Israeli media report that The Blackstone Group is in talks to buy a 40% stake in NSO, while ClearSky would purchase another 10%.
  • No word yet on Flynn's current clients. Spokespeople for both Blackstone and Francisco say he is not currently consulting for them.

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U.S. coronavirus updates: Largest 24-hour spike in fatalities

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

New York's death toll from the novel coronavirus surged to its highest one-day total on Tuesday, as the U.S. saw its largest 24-hour spike in fatalities, per Johns Hopkins data. Recorded deaths across the U.S. surpassed 12,900 Wednesday.

Why it matters: Public health officials have warned this would be a particularly deadly week for America, even as New York began to see trends of hospitalizations and ICU admissions decrease.

Go deeperArrowUpdated 6 mins ago - Health

Fauci: U.S. "starting to see glimmers of hope" in new coronavirus cases

The U.S. is starting to see "glimmers of hope" when it comes to the coronavirus pandemic, despite recent increases in the rate of reported deaths due to the illness, Dr. Anthony Fauci, Director of the National Institute of Allergy and Infectious Diseases, told Fox News.

The big picture: Fauci said deaths generally lag behind the number of new cases and hospitalizations. The latter two indicators are what's "fueling the outbreak," Fauci said. He pointed to stabilizing or decreasing numbers of key indicators in New York as a sign that "we should start to see the beginning of a turnaround," after this week.

Go deeperArrow14 mins ago - Health