Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa Bay news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Charlotte news in your inbox

Catch up on the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Palestinian fishermen return from fishing in Gaza City, Gaza. Photo: Ali Jadallah/Anadolu Agency/Getty Images

After months of review by the State Department and the White House, President Trump has decided to cut $200 million in civilian aid to the Palestinian Authority and for projects in the West Bank and Gaza, the State Department said in a statement. 

Why it matters: The decision comes 9 months after President Trump's Jerusalem announcement, which prompted Palestinian President Mahmoud Abbas to cut all ties with the White House. Those two developments created huge difficulties for the Trump administration to push forward with it's peace plan, which the White House is still debating when to launch. The aid cut also comes as Egypt and the U.N. are working on a stabilization deal for Gaza which will include a major push for humanitarian aid and reconstruction for the strip. 

The details: The statement said the funds will now address high-priority projects elsewhere, and explained, "This decision takes into account the challenges the international community faces in providing assistance in Gaza, where Hamas control endangers the lives of Gaza’s citizens and degrades an already dire humanitarian and economic situation."

State Department officials said the U.S. did provided a combined $61 million in funding for Palestinian security services in the West Bank. The officials added that providing assistance to the East Jerusalem Hospital Network is still under review, and a decision needs to be made soon about the funding to UNRWA.

Go deeper

Reddit traders look to pummel Wall Street's old guard

Illustration: Sarah Grillo/Axios

Reddit traders are taking on Wall Street pros at their own game with this basic mantra: Stocks will always go up.

Why it matters: Their trades — egged on in Reddit threads — have played a role in historic market activity in recent days.

The week the Trump show ended

Data: NewsWhip; Chart: Andrew Witherspoon/Axios

Donald Trump was eclipsed in media attention last week by President Biden for the first time since Trump took office, according to viewership data on the internet, on social media and on cable news.

Why it matters: After Trump crowded out nearly every other news figure and topic for five years, momentum of the new administration took hold last week and the former president retreated, partly by choice and partly by being forced off the big platforms.

Pay TV's bleak post-pandemic outlook

Data: eMarketer; Chart: Axios Visuals

The pandemic has taken a huge toll on the Pay-TV industry, and with the near-term future of live sports in question, there are no signs of it getting better in 2021.

Why it matters: The fraught Pay-TV landscape is forcing some smaller, niche cable channels out of business altogether.