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Michael Wolff's "Fire and Fury" sequel flops

Axios

Michael Wolff. Photo: Jared Siskin/Patrick McMullan via Getty Images

Michael Wolff's "Siege" sold just 17,756 copies in its first week, according to NPD BookScan figures reported by AP.

The big picture: Wolff's "Fire and Fury" sold more than 25,000 copies its first week, despite a shortage, and nearly 200,000 copies the following week, according to BookScan, which tracks around 85% of physical book sales. In September, Bob Woodward's "Fear" sold 1.1 million copies in its first week in all formats (hardback, digital and audio).

Go deeper: Trump muses about Protestant Supreme Court picks in Michael Wolff's new book

Go deeper

Andrew Freedman, Ben Geman
11 mins ago - World

Scramble over gas for EU as Russia threatens Ukraine

Illustration: Annelise Capossela/Axios

Cracks in the NATO alliance regarding sanctions for Russia should President Vladimir Putin order troops into Ukraine are in large part based on energy supply concerns.

Why it matters: Russia holds tremendous leverage over some European countries because it provides roughly 40% of Europe's natural gas supply. In Germany, this figure is greater than 50%.

Go deeper (2 min. read)Arrow
Neil Irwin
2 hours ago - Economy & Business

Why the Fed might want to jolt the markets

Fed chair Jerome Powell at a hearing earlier this month. Photo: Brendan Smialowski-Pool/Getty Images

So far, financial markets are cooperating nicely with the Federal Reserve's efforts to restrain inflation. They're doing the Fed's work for it by creating tighter financial conditions, in a distinctly non-panicky way.

  • But as the central bank's policymakers meet this week, an underlying question they face is whether the adjustment is happening too slowly.
Go deeper (2 min. read)Arrow
Kate Marino, author of Markets
3 hours ago - Economy & Business

Omicron outbreaks were bad for business in January

Data: New York Federal Reserve Bank; Chart: Axios Visuals

Emerging anecdotal evidence shows just how hard the recent rise in COVID-19 cases hit businesses in early January — but that hasn't hurt some business leaders’ longer-term views of their companies' prospects.

Why it matters: Increasingly, the economic recovery has come in fits and starts that move in tandem with new peaks in cases. Look no further than the thousands of canceled flights and shuttered Broadway theaters in the wake of the Omicron variant's spread over the last few months.

Go deeper (1 min. read)Arrow

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