Apr 10, 2018

Twitter follows Facebook in backing online ads bill

Twitter has been under pressure to back the bill. Photo: Justin Sullivan/Getty Images

Twitter said Monday it is backing a bill to require more disclosures around online political ads, after facing pressure following Facebook's endorsement.

The bigger picture: The endorsements show the web companies still dealing with the fallout of manipulation of their platforms during the 2016 elections are becoming increasingly willing to work with policymakers on new rules.

  • The bill hasn't gained much momentum since being introduced last fall, so it's unlikely to pass anytime soon.
  • Google has not yet endorsed the bill, despite pressure from Sens. Mark Warner and Amy Klobuchar.

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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.