Morgan Stanley's New York HQ. Photo: Spencer Platt/Getty Images

Morgan Stanley has agreed to buy Solium Capital (TSX: SUM), a Calgary-based administrator for employee stock compensation, for approximately $900 million in cash — a 43% premium over Friday's closing price.

Why it matters: This will help Morgan Stanley's wealth management group access the trove of unicorn millionaires whose paper is managed by Solium, including companies such as Uber, Stripe and SpaceX. Plus, this is Morgan Stanley's largest acquisition in more than a decade. "We did a partnership in late 2016 with Morgan Stanley ... and our win rate just went through the roof when we brought together our technology with their wealth management and workplace services," Solium Capital CEO Marcos Lopez told Axios over the phone.

Go deeper: The unicorn bucket challenge

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Ben Sasse emerges as GOP Trump critic ahead of November

Sen. Ben Sasse walks to the Senate from the subway to vote in June. Photo: Bill Clark/CQ-Roll Call via Getty Images

Sen. Ben Sasse (R-Neb.) has dialed up his spicy slams of President Trump, including this swipe at yesterday's signing ceremony: "The pen-and-phone theory of executive lawmaking is unconstitutional slop."

Why it matters: Trump increasingly looks — to business and to fellow Republicans — like a loser in November. So they're more likely to create distance to save their own skins. Sasse also won his May primary, further freeing him.

Pelosi: "States don't have the money" for Trump's unemployment order

House Speaker Nancy Pelosi claimed on "Fox News Sunday" that states don't have the funds to comply with the executive order President Trump signed on Saturday, which requires them to cover 25% of an additional $400 in weekly unemployment benefits.

Why it matters: Many state and local governments have had their budgets devastated by the economic impacts of the coronavirus, which have caused expenses to soar and revenues to plunge.

Kudlow says he regrets claiming Trump couldn't use executive order for unemployment

White House economic adviser Larry Kudlow said on CNN's "State of the Union" Sunday that he regrets suggesting this week that unemployment benefits can only be extended by Congress.

Why it matters: President Trump's decision to bypass Congress to sign four executive actions, including one that provides $400 per week in extra unemployment benefits, has prompted outcry from Democrats and even some Republicans who believe he is overstepping his constitutional authority.