Axios

Americans set off roughly 275 million pounds of fireworks every year, according to data from the American Pyrotechnics Association.

The big picture: The vast majority — about 250 million pounds — are consumer fireworks.

The fun flavor or summer campouts is now a limited-edition ramen — Cup Noodles Campfire S'mores — to cook in the microwave instead of an open flame.

Why it matters: Companies are looking to push the boundaries and create viral products that often sell out and land on the resale market.

The U.S. Chamber of Commerce is launching a new agenda on Thursday, telling politicians that economic growth should be the top issue in the 2024 election and beyond.

Why it matters: The influential business group is telling elected officials to prioritize economic policies that could return U.S. economic growth to the 3%+ rates that prevailed in the second half of the 20th century—not the sub-2% growth economists project for the decades ahead.

Americans are marking the Fourth of July with barbecues, fireworks, travel and shopping.

The big picture: Most of the nation's largest retailers and restaurants are open Thursday with many stores holding sales throughout the holiday weekend.

President Biden's interview with ABC News' George Stephanopoulos will now air as a primetime special on Friday.

Why it matters: The shift from the previously announced Sunday morning time slot reflects the urgency of the situation as Biden faces growing pressure from some Democrats to abandon his re-election bid in the wake of his lackluster debate performance.

A Texas federal judge has temporarily blocked the Federal Trade Commission's ban on employment non-compete agreements.

Why it matters: The ruling is a setback for workers as these agreements restrict their ability to take a similar job for better pay or other benefits.

Three weeks after abruptly walking away, Shari Redstone has finally blessed the deal that will see Skydance Media merge with Paramount.

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.

Why it matters: Nearly 71 million people will travel during the holiday week with a record 60.6 million people traveling by car, according to AAA's holiday forecast.

The pool boom is over, and macroeconomic forces are largely to blame.

Why it matters: The factors cooling the broader economy are also drowning the pool business.

Shareholder activists launched a record 86 campaigns in the second quarter, driving the number of first-half campaigns to a record 147, Barclays says.

The big picture: Companies managed a strong defense against the heavy flow of attacks, with activists capturing fewer board seats this proxy season.

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. companies slashed 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.

Skydance has reached a preliminary deal to purchase National Amusements and merge with Paramount, Axios has confirmed.

Why it matters: This is an about-face for National Amusements owner, Shari Redstone, who ended earlier talks with Skydance last month.