Why it matters: This is an about-face for Paramount's controlling shareholder, which could put to rest one of the messiest mergers in Hollywood history.
Zoom in: The two sides reached an agreement on a slightly reworked deal last night that will now go to the special committee of Paramount's board for approval, a source with knowledge of the negotiations tells Axios.
Skydance will pay $1.75 billion for Paramount parent National Amusements, which is owned by the Redstone family.
Federal Reserve officials discussed mounting financial strains on lower- to moderate-income consumers at its policy meeting last month, according to minutes released on Wednesday.
Why it matters: The Fed said their stretched budgets might lead to an "abrupt" pullback in consumer spending that could take a toll on the economy.
The national average gas price for the Independence Day weekend is expected to be the lowest holiday price since 2021 but prices have been rising in recent weeks with record travel demand.
Threads — Meta's "friendlier" version of X/Twitter — has amassed more than 175 million "monthly actives" since launching a year ago this week, Meta CEO Mark Zuckerberg announced Wednesday morning.
Why it matters: While it's grown at a steady clip, Threads still lacks the scale and influence of the platform it set out to disrupt.
Southwest Airlines said it has adopted a shareholder rights plan in an effort to prevent Elliott Management from building a bigger stake in the company.
Why it matters: The move signals the company is fixing for a fight.
The American Civil Liberties Union is already looking at how to challenge a future Trump administration's efforts to dismantle diversity, equity, and inclusion (DEI) programs inside and outside of government, according to a new memo.
Why it matters: Former President Trump's campaign and his allies have signaled they will use Civil Rights-era laws to focus on "anti-white racism" as a means of dismantling DEI programs in the federal government and the private sector.
The Fed hasn't cut rates yet, but in the first half of this year, the riskiest U.S. companiesslashed the interest they're paying on more than half a trillion dollars in loans.
Why it matters: The huge investor demand for debt has driven rates down, granting welcome relief to borrowers who were shocked in 2022 by the speed with which their floating-rate loans became much more expensive to service than they'd anticipated.
Higher food prices are taking a bite out of Independence Day barbecue budgets and summer grilling season.
Why it matters: Cookout staples are up 5% from last year but up a whopping 30% from five years ago, according to the American Farm Bureau's annual survey.
The Food and Drug Administration will no longer allow the use of brominated vegetable oil (BVO) in food products and sodas due to concerns it poses a threat to people's health, the FDA announced Tuesday.
The big picture: The ban follows similar action in California against the food additive that's modified with bromine, which has been used in small quantities as a stabilizer in some citrus-flavored drinks and which is also found in fire retardants.
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