Rite Aid stock fell as much as 18.5% in morning trading after a Bloomberg report that the FTC is "worried" about the details of Walgreens planned buyout of its smaller rival. It's since pared about half of those losses.

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Data: Money.net; Chart: Andrew Witherspoon / Axios

Walgreens had planned to sell hundreds of its stores to regional pharmacy chain Fred's, but reports are that the FTC may not see these divestitures as bold enough to avoid antitrust concerns.

Why it matters: The Obama Administration ramped up antitrust oversight and one of the big question marks of the Trump Administration is whether it will get tough on mergers or take a more traditional Republican stance. The Walgreens-Rite Aid merger could be an important clue in this puzzle.

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3 mins ago - Axios on HBO

Preview: "Axios on HBO" interviews acting Secretary of Homeland Security Chad Wolf

On the next episode of "Axios on HBO," acting Secretary of Homeland Security Chad Wolf tells Axios co-founder Mike Allen why he "would be concerned" about Joe Biden and Kamala Harris in office.

Catch the full interview on Monday, August 17 at 11 p.m. ET/PT on all HBO platforms.

Updated 8 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 9 p.m. ET: 20,755,406 — Total deaths: 752,225— Total recoveries: 12,917,934Map.
  2. U.S.: Total confirmed cases as of 9 p.m. ET: 5,246,760 — Total deaths: 167,052 — Total recoveries: 1,774,648 — Total tests: 64,831,306Map.
  3. Politics: House Democrats to investigate scientist leading "Operation Warp Speed" vaccine projectMcConnell announces Senate will not hold votes until Sept. 8 unless stimulus deal is reached.
  4. 2020: Biden calls for 3-month national mask mandateBiden and Harris to receive coronavirus briefings 4 times a week.
  5. States: Georgia Gov. Brian Kemp to drop lawsuit over Atlanta's mask mandate.
  6. Business: Why the CARES Act makes 2020 the best year for companies to lose money.
  7. Public health: Fauci's guidance on pre-vaccine coronavirus treatments Cases are falling, but don't get too comfortable.

Trump says he intends to give RNC speech on White House lawn

President Trump speaking to reporters on South Lawn in July. Photo: Jabin Botsford/The Washington Post via Getty Images

President Trump told the New York Post on Thursday that he plans to deliver his Republican National Convention speech from the White House lawn, despite bipartisan criticism of the optics and legality of the location.

Why it matters: Previous presidents avoided blurring staged campaign-style events — like party conventions — with official business of governing on the White House premises, per Politico.