Jan 24, 2018

Two car bombings kill at least 33 in Benghazi

A pair of car bombs were detonated in central Benghazi in Libya Tuesday, killing at least 33 and leaving more than 50 others wounded, per Reuters.

How it happened: The first bomb went off outside a mosque as attendees were leaving evening prayers. As ambulances and security officers arrived at the scene, a second bomb exploded about 10 minutes later across the street. It is not yet clear who is responsible for the attack.

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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.