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L: Michael Cohen. Photo: Eduardo Munoz Alvarez/Getty Images. R: Paul Manafort. Photo: Mark Wilson/Getty Images

Longtime Trump lawyer Michael Cohen and 2016 Trump campaign chairman Paul Manafort each became felons during the 4pm hour this afternoon.

The bottom line: Former Trump allies are going to jail, with no end in sight for the Mueller probe.

In New York, Michael Cohen accepted a plea deal to charges that include campaign finance violations, tax and bank fraud. His sentencing hearing will be on December 12.

  • "The plea agreement does not call for Mr. Cohen to cooperate with federal prosecutors in Manhattan, but it does not preclude him from providing information to the special counsel, Robert S. Mueller III," the N.Y. Times reports.
  • Reuters: "Cohen says at direction of 'candidate for federal office' he arranged to make payments 'for principal purpose of influencing election.'"
  • Go deeper: What Michael Cohen knows (Axios)

In Virginia, a jury found Paul Manafort guilty on eight counts of fraud.

  • WashPost: "Manafort was convicted on five counts of filing false tax returns, one count of not filing a required IRS form, and two bank fraud counts."
  • Why it matters: "Manafort’s guilty verdict may strengthen Mueller’s hand as he continues to investigate possible conspiracy and seeks an interview with the president; an acquittal could have led to a broader effort by conservatives to shut down the special counsel’s office."
  • Senate Intel Committee ranking Democrat Mark Warner in a statement: “Any attempt by the President to pardon Mr. Manafort or interfere in the investigation into his campaign would be a gross abuse of power and require immediate action by Congress.”

Go deeper... Mueller’s map: What 35 indictments and pleas tell us

Go deeper

Updated 17 mins ago - Economy & Business

Ubisoft workers demand company accountability in open letter

Photo: Frederic Brown / Getty Images

Close to 500 current and former employees of “Assassin’s Creed” publisher Ubisoft are standing in solidarity with protesting game developers at Activision Blizzard with a letter that criticizes their company's handling of sexual misconduct.

Why it matters: Ubisoft and Activision Blizzard workers are framing the actions as part of a bigger movement meant to have lasting change in the industry and its culture.

Companies deploy tech to prevent retail crime

Customers in a Home Depot in Pleasanton, California, in February 2021. Photo: David Paul Morris/Bloomberg via Getty Images

Retailers have a new edge for fighting theft: They're using technology to disable stolen goods — from iPhones to Black & Decker drills — and render them useless.

Why it matters: Organized retail crime has a considerable affect on retailers every year, costing them an average of $719,000 per $1 billion dollars in sales, according to estimates from the National Retail Federation.

Dan Primack, author of Pro Rata
49 mins ago - Podcasts

Spotify CEO Daniel Ek does a podcast on the future of podcasts

Spotify on Wednesday reported significant ad revenue growth from its podcast business, as part of its quarterly earnings disclosure.

Take a listen: Company founder and CEO Daniel Ek appeared on the Axios Re:Cap podcast to discuss how the podcast business model is changing, why he's spending big on exclusive shows and his personal favorites in both podcasting and music.