Axios

Incoming Starbucks CEO Brian Niccol's new pay package has prompted raised eyebrows and eye emojis this week.

The intrigue: Luring the rising star away from Chipotle wasn't going to be cheap. And it's his success at the burrito chain — reflected in its share appreciation — that's helping to fatten his number at Starbucks.

By the numbers: There are multiple components of the offer that helped sway Niccol, including:

• $1.6 million per year: This is his initial base salary, 23% more than at Chipotle last year.
• $10 million: This is his sign-on bonus, part of which is meant to cover cash incentive awards and equity that would have vested within the year at Chipotle.

"Deadpool & Wolverine," from Disney's Marvel Studios, became the highest-grossing R-rated movie in history this week at global box offices, surpassing the record held by "Joker."

Why it matters: Disney's "Inside Out 2" also crossed $1 billion globally at the box office earlier this summer, cementing the media giant's status as the only one ever to produce back-to-back $1 billion releases in a single year, Axios has previously reported.

A federal judge granted a temporary injunction against an upcoming streaming joint venture formed by Disney, Fox and Warner Bros. Discovery after a rival streamer sued it on antitrust grounds.

Why it matters: The companies' Venu Sports was supposed to launch later this month but now faces an uncertain future.

The 2024 presidential candidates are betting on populist economic pitches that they say will soothe the pain from the inflation shock that peaked years ago.

Why it matters: By most measures, the two candidates could not be more different — yet former President Trump and Vice President Harris agree that high prices are the economy's central issue.

It's gotten tougher to nab a remote or hybrid office job — with one exception.

Why it matters: When you're a CEO, they let you do it.

It's been more than six years since FanDuel merged with European gaming company Paddy Power Betfair, a seminal moment in forging the U.S. sports betting market.

• But a legal fight over that deal is just ramping up.

Walmart and drone delivery partner DroneUp are ending drone delivery in three states to focus on perfecting the airborne package delivery service in the Dallas-Fort Worth area.

Why it matters: Instant drone delivery only makes economic sense if it can be done at scale, and Dallas is emerging as the capital of drone delivery in America.

Edgar Bronfman Jr. is in talks with multiple parties about advancing a bid for Paramount Global's parent company, sources tell Axios.

Why it matters: A Bronfman bid would complicate Paramount's existing $8 billion agreement to merge with Skydance Media, and add further drama to the already long and complicated sale process.

The share of job listings that advertise remote or hybrid work has declined from its 2022 peak, but is still far greater than pre-pandemic levels, per data from jobs site Indeed.

Why it matters: The prevalence of remote work is declining, as the labor market weakens.

Price cuts are back.

Why it matters: The inflation crisis made discounts hard to come by, but that era is fading fast.

Nike shares got a much-needed jolt today after Bill Ackman's hedge fund disclosed a stake in the apparel giant.

Why it matters: Ackman rose to prominence as an activist investor but said in 2022 that he was pivoting to a "quieter approach."

Driving the news: Pershing Square Capital Management yesterday disclosed ownership of 3 million shares of Nike stock at the end of June, worth about $229 million. (That's about 0.25% of Nike's outstanding Class B shares).

As Mars announces its acquisition of Kellanova, nothing epitomizes the homogenization of global snacking quite like the rise of peanut butter in the U.K. — where it has overtaken native English jam.

Why it matters: The U.K.'s legume boom has coincided with an increase in health-conscious consumption, to the point where Whole Earth brand peanut butter now outsells Sun-Pat, the sweetened market leader from 1946 to 2016.

By the numbers: Posh U.K. supermarket Waitrose now stocks 35 different varieties of peanut butter, per the NYT, even if it seems to have soured on the peculiarly British concoction that is Marmite peanut butter.

Misleading, violent and copyright-infringing AI-generated images from a beta version of xAI's Grok-2 are going viral.

Why it matters: Leaders at Google, Meta and Microsoft have all apologized when their bots created problematic images, but "free speech" has overridden other concerns for Elon Musk — who owns xAI and has made its chatbot available to everyone who pays for X.

If re-elected, former president Donald Trump really probably could strip SEC chair Gary Gensler of his place at the head of the agency.

Why it matters: The former president promised to "fire" the American blockchain industry's No. 1 enemy last month in front of a cheering crowd at this year's biggest Bitcoin conference, but there's actually no precedent for a president firing a leader of the agency.

Threads, the X-like social platform from Meta, is releasing new tools to help creators plan their content strategy and to schedule posts.

Why it matters: The release comes amid a heated race among Big Tech companies to recruit and retain influencers.

Here's what's new on Peacock, Netflix, Apple TV+, Prime Video, Paramount+ and Max.

What we're watching: A new season of Peacock's "Fresh Prince" reboot, a touching documentary about a unique daddy-daughter dance and a new action-comedy starring Awkwafina and John Cena.

Once the epicenter of the Chicano Movement, Central California is at risk of losing its Latino history amid broad political shifts and lack of preservation.

Why it matters: As the Latino population grows and becomes more diverse in the region, past lessons are being lost, depriving a new generation of activists of stories on how people once battled poverty and inequality — issues that persist in the Central Valley.

The scope of chief communication officers is expanding, according to a new report by the Observatory on Corporate Reputation (OCR).

Why it matters: More communication executives are absorbing other business functions, leading to the rise of the CCO+ title.

Memes — viral snippets of a cultural moment — are defining the 2024 presidential election cycle.

Why it matters: In a fragmented media landscape, memes still find a way to transcend constituencies, shape narratives and forge connection.

Tracie Haas has spent roughly three decades in the pharmaceutical industry — most recently at AbbVie, which spun off from Abbott in 2013.

Why it matters: As senior vice president of corporate affairs, her job is to enhance and protect the reputation of the research-based pharmaceutical manufacturer.

Walmart is slashing prices amid broader signs that the inflation crisis is over.

Why it matters: The nation's biggest retailer is aiming to extend its competitive advantage by discounting products at a time when consumers are looking for deals.

Canada Pension Plan Investment Board is promoting Caitlin Gubbels to head of global private equity. She succeeds Suyi Kim, who's been in the role since 2021 and with CPPIB for 17 years.

Why it matters: CPP is one of the world's largest investors in private equity, including both company and fund stakes, with around US$100 billion in assets.

Nonprofit credit unions are buying record numbers of for-profit banks.

Why it matters: Until recently, a nonprofit couldn't own a for-profit — it seems to defeat the whole point —  but in recent years the walls between these two worlds have been breaking down. (Think of the Chan Zuckerberg Initiative or Patagonia.)

After years of soaring prices, the cost of a new car is falling, per a batch of fresh data out this week.

Why it matters: It's not time to celebrate yet. Prices for vehicles and insurance are still eye-popping compared to pre-pandemic days.