The FBI's seal pictured outside the DC headquarters. Photo: T.J. Kirkpatrick / Bloomberg via Getty Images

Top intelligence and law enforcement officials warn that the release of a memo alleging FBI surveillance abuse could cause spy agencies to start sharing less with Congress, AP's Deb Riechmann writes.

Why it matters: This development would stem the flow of information through government entities and risks weakening Congress' oversight of intelligence agencies.

  • Robert Litt, former general counsel for the director of national intelligence: "The precedent that's been set here is very dangerous ... You can only imagine if the Democrats get control of the House in the mid-year election; they will now be able to say look, 'We've established a precedent here. You've released classified information, and we're going to start doing it as well.'"
  • The next memo: "Democrats have prepared their own memo in response to the one Nunes released last week. The intelligence committee [yesterday] authorized its release and sent it to the president, who will decide whether it should be declassified."

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Trump's new TikTok threat

Photo illustration: Aïda Amer/Axios. Photo: Jim Watson/AFP via Getty Images

President Trump said twice Monday that the U.S. Treasury would need to get a portion of the sale price of TikTok, as a condition of regulatory approval.

Why it matters: This is akin to extortion — the sort of thing you'd expect to hear on a wiretap, not from the White House in front of reporters.

Ford names James Farley as new CEO amid ongoing turnaround effort

James Hackett, left, is retiring as Ford CEO. Jim Farley, right, takes over Oct. 1. Photo: Ford

Ford announced Tuesday that James Farley will take over as its next CEO, replacing James Hackett, 65, who is retiring after three years in the job.

Why it matters: It leaves Farley to complete the company's ongoing turnaround effort. The transition will be that much harder as the industry tries to navigate the coronavirus-induced economic slowdown which shuttered Ford plants for two months on the eve of some of its most important vehicle launches.

Updated 3 hours ago - Politics & Policy

Watch the full "Axios on HBO" interview with President Trump

In this episode of “Axios on HBO”, President Trump discusses his handling of the coronavirus pandemic, the upcoming election and much more with National Political Correspondent Jonathan Swan.

The interview was filmed on Tuesday, July 28 and aired Monday, Aug. 3 on HBO.