U.S. cuts off federal aid to Guatemala, El Salvador and Honduras

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The U.S. is cutting off federal aid to Guatemala, El Salvador and Honduras in response to what President Trump described as incoming migrant caravans from those countries, per a State Department spokesperson, reports CNN.

The big picture: This announcement comes the day after Trump threatened to shut down "large sections" of the U.S.-Mexico border unless Mexico "immediately" stops "all illegal immigration." Earlier this week, Homeland Security Secretary Kirstjen Nielsen signed a regional compact agreement with Guatemala, El Salvador and Honduras reportedly "aimed at preventing irregular migration, combating criminal organizations and ultimately helping with US border security," per CNN.

Go deeper: "A system-wide breakdown:" DHS Secretary Kirstjen Nielsen asks for volunteers at U.S.-Mexico border

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The corruption of laissez-faire capitalism

Illustration: Sarah Grillo/Axios

Laissez-faire capitalism works very well in theory. The government sets clearly-defined rules, within which corporations compete for profits. Companies win by providing the best products at the lowest price; investors win by allocating scarce capital where it can be put to best use; the country as a whole reaps the benefit.

In an age of corruption anxiety, however, laissez-faire often means that companies themselves get to set the rules.

Comedian known for playing president on TV wins Ukrainian election

Ukrainian comedian and presidential candidate Volodymyr Zelensky shows his ballot to the media at a polling station. Photo: Genya Savilov/AFP/Getty Images

Comedian Volodymyr Zelensky, who plays president on a popular television show, has defeated incumbent President Petro Poroshenko with more than 70% of the vote to win Ukraine's presidential election, according to exit polls.

The big picture: This was Ukraine's first presidential election without a clear pro-Kremlin candidate, reflecting a shift for a country that has been increasingly drawn toward the West since the Russian annexation of Crimea in 2014. Zelensky, who lacked any sort of a formal campaign, has promised that as a fresh face on the political scene, he can shepherd lasting structural change that career politicians cannot.

Facebook's regulatory woes

Illustration: Sarah Grillo/Axios

One company is having a hard time capturing U.S. regulators: Facebook. It's the subject of federal criminal investigation in New York, and is reportedly facing a record multi-billion-dollar fine from the Federal Trade Commission for violating its users' privacy.

The latest: An NBC News investigation has found that Facebook would regularly barter its users' privacy, opening up its treasured proprietary datasets to its most valuable partners, while denying them to potential rivals.

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