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Trump Organization sues New York City for canceling golf course contract after Capitol riot

The Trump Organization filed a lawsuit against New York City Monday, alleging that the termination of its Bronx golf course contract following the Jan. 6 U.S. Capitol riot was politically motivated.

Why it matters: The estimated cost of the decision by NYC Mayor Bill De Blasio to end all contracts between the city and former President Trump's family business in response to the insurrection is $17 million a year in revenue.


  • The Trump Organization alleges in the wrongful termination suit that the cancelation would cost the company $30 million.

What they're saying: "Mayor de Blasio had a pre-existing, politically-based predisposition to terminate Trump-related contracts, and the city used the events of January 6, 2021 as a pretext to do so," states the lawsuit, which was filed in the New York State Supreme Court in Manhattan.

The other side: Per the New York Times: Bill Neidhardt, a spokesperson for the mayor, said in response: "Donald Trump directly incited a deadly insurrection at the U.S. Capitol. You do that, and you lose the privilege of doing business with the City of New York."

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The stock market had its worst day in months, but no one is quite sure why

Data: FactSet; Chart: Axios Visuals

The Nasdaq fell 5% on Thursday, its worst decline since March, and the S&P 500 had its worst session since June, but no one was quite sure why.

What happened: Fund managers and strategists posited that profit taking or rebalancing was to blame as no fundamental drivers for the sell-off were apparent and it remains unclear whether Thursday was a fluke or the beginning of retrenchment from what most Wall Street analysts viewed as an overextended market.

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GOP Sen. Rob Portman will not run for re-election, citing "partisan gridlock"

Sen. Rob Portman (R-Ohio) announced Monday he will not run for a third term in the U.S. Senate in 2022, citing "partisan gridlock."

Why it matters: It's a surprise retirement from a prominent Senate Republican who easily won re-election in 2016 and was expected to do so again in 2022.

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