Feb 17, 2017

Tillerson tells China to put pressure on North Korea

Brendan Smialowski / AP

Secretary of State Rex Tillerson told China's foreign minister Friday that the country should "use all available tools" to confront North Korean provocations, per WSJ. Tillerson and his Chinese counterpart Wang Yi met for an hour Friday morning in Bonn, Germany amid a meeting of foreign ministers from the Group of 20 countries.

Tillerson's urging comes a week after North Korea launched a missile test into the Sea of Japan, which Tillerson and his Japanese and South Korean counterparts condemned on Thursday, promising a tougher international response.

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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.