Axios

Major mobile carriers were fined nearly $200 million by the Federal Communications Commission for illegally sharing their customers' location data.

Why it matters: T-Mobile, AT&T, Sprint and Verizon violated the Communications Act when they sold customers' location data without their consent and continued the practice without sufficient safeguards after being informed of the violations, the FCC said.

Bob Bakish is stepping down as Paramount Global's CEO, a move that comes as the company negotiates a major deal with film and TV studio Skydance Media.

Why it matters: Bakish's resistance to the Skydance deal was a source of friction with controlling shareholder Shari Redstone, sources told Axios, and his exit may allow those talks to escalate.

Elon Musk made an unannounced trip to China to discuss the rollout of self-driving software in China.

Why it matters: The Tesla CEO received quick approval on expanding Tesla's business in the world's largest auto market, as the company's sales and stock prices have slumped.

Demand for fireworks has exploded in recent years — and so have the costs.

The background: Demand increased significantly when many American families put on their own at-home displays during the COVID-19 pandemic.

Conventional wisdom entering 2024 was that private equity dealmaking would surge on a series of interest rate cuts by the U.S. Federal Reserve.

Fast forward: The prediction was right, but for the wrong reasons.

In the hipster antitrust age, workers are taking center stage.

Why it matters: It's one of the clearest signs yet that we're in a new era of antitrust enforcement, after years of pushing from left-of-center scholars and politicians plus a strong shove from the pro-labor White House.