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President Trump and North Korean leader Kim Jong-un in Hanoi. Photo: Saul Loeb/AFP/Getty Image

President Trump raised eyebrows on Friday with a tweet declaring that he would be withdrawing "additional large scale Sanctions" on North Korea, which he said had been announced earlier in the day by the Treasury Department. 

Between the lines: It's unclear what exactly Trump is talking about, though Treasury did announce sanctions yesterday on 2 shipping companies it said had attempted to evade North Korea sanctions. Per Fox News' John Roberts, the sanctions Trump said he is withdrawing are not in reference to the 2 shipping companies, but instead are referencing "new large-scale sanctions that were about to be announced by Treasury." White House Press Secretary Sarah Sanders told reporters the decision was made because "President Trump likes Chairman Kim and he doesn’t think these sanctions will be necessary." 

Editor's note: This post has been updated with a Fox News report.

Go deeper

Updated 41 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
1 hour 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.