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Trump asks Supreme Court to block Manhattan district attorney's subpoena for tax returns

President Trump's attorneys filed an emergency request on Tuesday asking the Supreme Court to block a lower court's ruling that would allow the Manhattan district attorney to enforce a subpoena for his personal and corporate tax returns.

The state of play: This could be the second time that the long-running legal battle over Trump's finances ends up before the Supreme Court. In July, the court ruled that presidents are not immune from investigation but sent the case back down to lower courts, where Trump's lawyers could try again to fight the subpoena.


  • A three-judge appeals panel in New York rejected Trump's argument last week that the subpoena from Manhattan DA Cy Vance was overbroad and amounted to political harassment.
  • Vance agreed to hold off on enforcing the subpoena for 12 days on the condition that Trump's lawyers moved quickly to appeal.

The big picture: Vance's office, which is one of several probing Trump's business dealings and financials, was initially believed to be examining hush money payments made by Trump's former fixer Michael Cohen during the 2016 election.

  • Recent court filings, however, suggest that the scope of the probe is far broader, and that Trump could be under investigation for tax fraud.

Read the emergency request.

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Why the startup world needs to ditch "unicorns" for "dragons"

When Aileen Lee originally coined the term "unicorn" in late 2013, she was describing the 39 "U.S.-based software companies started since 2003 and valued at over $1 billion by public or private market investors."

Flashback: It got redefined in early 2015 by yours truly and Erin Griffith, in a cover story for Fortune, as any privately-held startup valued at $1 billion or more. At the time, we counted 80 of them.

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Scoop: Facebook's new moves to lower News Feed's political volume

Facebook plans to announce that it will de-emphasize political posts and current events content in the News Feed based on negative user feedback, Axios has learned. It also plans to expand tests to limit the amount of political content that people see in their News Feeds to more countries outside of the U.S.

Why it matters: The changes could reduce traffic to some news publishers, particularly companies that post a lot of political content.

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