Jan 2, 2018 - Politics & Policy

Pakistan calls emergency meeting over Trump's tweet

The Pakistani government held an emergency security meeting on Tuesday in response to President Donald Trump accusing the country of "lies and deceit" in an early morning New Year's Day tweet, per CNN. Pakistan also on Monday summoned the U.S. ambassador David Hale, per Reuters.

The backdrop: The White House considering whether to give Pakistan $255 million in military aid it has withheld in August out of frustration over what it has characterized as Islamabad's unwillingness to crack down on terror groups, The New York Times reported last week. U.S. aid to Pakistan totals $33 billion since 2002. In a Times op-ed last week, Secretary of State Rex Tillerson called on Pakistan to contribute more by combating terrorist groups on its own soil, adding that the country must "demonstrate its desire to partner with us."

The Trump tweet:

Go deeper

Fadel Allassan
35 mins ago - Politics & Policy

Pelosi rips GOP: "Perhaps you mistook them for somebody who gives a damn"

House Speaker Nancy Pelosi tore into her Republican colleagues on Thursday for their approach to negotiating the next coronavirus stimulus package, telling CNBC's Jim Cramer: "Perhaps you mistook them for somebody who gives a damn."

Why it matters: Democrats and the Trump administration have not agreed to any "top-line numbers" and remain "trillions of dollars apart," White House chief of staff Mark Meadows told reporters on Thursday.

Go deeper (1 min. read)Arrow
Dan Primack
50 mins ago - Economy & Business

The new buyout barons

Illustration: Eniola Odetunde/Axios

Last month I wrote that SPACs are the new IPOs. But I may have understated it, because SPACs are also becoming the new private equity.

By the numbers: Short for "special purpose acquisition company," SPACs have raised $24 billion so far in 2020, with a loaded pipeline of upcoming offerings. U.S. buyout firms raised nearly $102 billion through the end of June — a much larger amount, but not so much larger that the two can't play on the same field.

Go deeper (1 min. read)Arrow
Dave Lawler
3 hours ago - World

Macron visits Beirut promising a "new political pact" for Lebanon

Macron visits the hard-hit Gemmayzeh neighborhood. Photo: AFP via Getty Images

French President Emmanuel Macron walked through the blast-damaged streets of Beirut on Thursday, swarmed by people chanting for the fall of Lebanon's government and pleading for international aid.

Why it matters: Lebanon is at a breaking point. Its economy was collapsing and its government hardly functioning — all before a massive explosion destroyed swathes of the capital city, including its vital port.

Go deeper (1 min. read)Arrow