Sep 18, 2018

Russia blames Israel after plane shot down by Syrian forces

Photo: Mikhail Svetlov/Getty Images

Russia is blaming Israel after a Russian military plane was shot down by Syrian forces, claiming the plane was in the line of fire during an Israeli strike, CNN reports.

The big picture: Israel has acknowledged striking Syria in the past to keep groups like Hezbollah from obtaining advanced weapons, but the deaths of 15 Russian servicemen complicate an already-tense diplomatic situation. Israel's ambassador to Moscow was summoned by the Russian Ministry of Foreign Affairs in response to the incident, per Reuters.

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SoftBank to cut its stake to get T-Mobile's Sprint deal done

Illustration: Rebecca Zisser/Axios

T-Mobile and Sprint announced a revised merger agreement that will see SoftBank getting a smaller share of the combined company, while most shareholders will receive the previously agreed upon exchange rate. The companies said they hope to get the deal as early as April 1.

Why it matters: The amended deal reflects the decline in Sprint's business, while leaving most shareholders' stake intact and removing another hurdle to the deal's closure.

Trump indulges Wall Street with Milken pardon

Photo Illustration: Sarah Grillo/Axios. Photo: Chris Graythen/Getty Images

Donald Trump loves Wall Street shenanigans. Companies owned by him have declared bankruptcy six different times, and he was once sued alongside Mike Milken for participating in a scheme to artificially inflate junk-bond prices.

Driving the news: Trump pardoned Milken this week, with an official statement positively gushing over Milken's role in developing the wilder side of fixed-income capital markets.