Feb 15, 2017

Verizon reportedly cuts Yahoo deal price by $250m

Julie Jacobson / AP

Verizon has reached a tentative agreement to lower the price it's paying for Yahoo's core Internet business from $4.8 billion to around $4.45 billion, according to Bloomberg. The cut comes after the revelation of multiple security breaches at Yahoo that affected tens of millions of users.

Bottom line: If $250 million is all Yahoo has to give up to get this deal done, then it must be breathing a major sigh of relief. Verizon could have tried to kill the deal entirely, arguing that the breaches constituted a material adverse event. There also could have been questions about what and when Yahoo shared information about the breaches with Verizon.

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Updated 11 mins ago - Health

World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

Over 500 schools in South Korea have either closed or postponed reopening, according to the Korea Times, which cites data from the Ministry of Education.

Why it matters: South Korea has been a model for how to handle the novel coronavirus, and the closures reportedly followed concerns from parents and teachers over child safety. The country's confirmed death toll has plateaued at 269 over the past few days, with few increases, per Johns Hopkins data.

Updated 13 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

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Trump to end Hong Kong’s special trade status

President Trump. Photo: Win McNamee/Getty Images

President Trump announced on Friday that the U.S. would be fundamentally changing longstanding policies toward Hong Kong as a result of Chinese encroachment on the city's autonomy.

Why it matters: Trump said he would be effectively ending the special trade status that has allowed Hong Kong to flourish as a gateway to the Chinese market. That leaves an uncertain future for businesses that operate in Hong Kong, not to mention the city's 7 million residents, and could be met with reprisals from Beijing.