Axios

Sen. Dan Sullivan (R-Alaska) is getting some air cover from a political organization that can accept unlimited — and anonymous — contributions.

• Last Frontier Action is launching a six-figure digital and TV advertising campaign to bolster Sullivan against former Rep. Mary Peltola in Alaska's Senate race.

Why it matters: Sullivan and his allies are taking the challenge from Peltola, a proven fundraiser, seriously.

Live Nation and the Department of Justice have reached a settlement over the latter's antitrust claims, with the live music giant agreeing to cap service fees and allow venues to partner with alternate ticket providers like StubHub.

Why it matters: Several of the states involved in the suit — and Democratic lawmakers — say that consumers are being shortchanged by the settlement, which still needs to be approved by the court.

The U.S. aims to accelerate the next era of aviation with eight pilot projects to test innovative electric aircraft across 26 states, the Trump administration announced Monday.

Why it matters: Together, the projects will create one of the largest real-world testing environments for next-generation aircraft in existence, the Federal Aviation Administration said in a statement.

A federal grand jury subpoenaed records from the Arizona Senate's debunked "audit" of the 2020 election in Maricopa County amid fears that the Trump administration will attempt to assert control over this year's midterms.

Why it matters: The audit, largely funded by groups loyal to President Trump and supportive of his false claims that he won Arizona in 2020, reached erroneous and inaccurate conclusions.

Rep. Kevin Kiley (Calif.) announced Monday that his decision to leave the Republican Party and register as an Independent will take effect immediately.

Why it matters: House Speaker Mike Johnson's (R-La.) two-vote majority just got even smaller.

Pressure is mounting on President Trump to tap the Strategic Petroleum Reserve, the world's largest emergency oil stockpile, as gas prices surge in response to the Iran war.

Why it matters: The stockpile sits near its lowest levels in decades, limiting the government's cushion if the conflict drags on.

The Iran war has cast a sharp spotlight on the global economy's reliance on the Strait of Hormuz.

Why it matters: The strait is a chokepoint for critical global commodities — and prices for oil, gas, plastics and fertilizers are already surging on fears of war-related disruptions.

The Department of Justice and Live Nation have settled their antitrust dispute, which had been focused on the 2010 merger of Live Nation and Ticketmaster.

Why it matters: The settlement means that Live Nation won't need to divest Ticketmaster, or any other assets, despite DOJ having argued that the tie-up had created an illegal monopoly that hurt both consumers and performers.

No matter how long the current Middle East upheaval lasts, it could spark or accelerate lasting changes to global energy flows and policies.

Why it matters: Analysts are starting to look beyond the immediate market shock — which is indeed quite shocking.

In the first week of the American and Israeli attack on Iran, the economic ripples were looking pretty minimal. But as Week 2 begins, the risks to the global economy are growing much more serious.

The big picture: You can't decapitate the leadership of a country of 90 million people, with expansive military and intelligence capabilities, in the heart of some of the world's most economically important supply chains, without a huge cost.