More than 8 million people tuned into Night 1 of the second round of Democratic primary debates for the 2020 cycle, according to preliminary numbers from Nielsen.
Why it matters: It was a significantly smaller audience than that of the first round of debates that aired in June — which drew 15.3 million viewers on Night 1, while the second totaled 18.1 million viewers.
ABC, CBS, Fox and NBC are suing to shut down Locast, a non-profit, over-the-air broadcast TV streaming service that they say serves as a commercial prop for AT&T and Dish Network Corp.
Why it matters: The lawsuit has been a long time coming. Critics have argued that Locast's offering is similar to that of Aereo, another over-the-air broadcast streaming service that was shut down in 2014, shortly after the Supreme Court ruled against Aereo in a similar copyright case brought by broadcast networks.
Feeling the effects of the Trump administration's trade war with China, some states and cities are stepping in to build their own relationships.
Why it matters: Mayors and governors are hearing directly from farmers and business owners concerned that the trade war will permanently cut off access to the Chinese market.
"People are scared about their livelihoods and job opportunities going somewhere else," said Bob Holden, CEO of the U.S. Heartland China Association and former governor of Missouri. "I see now a paranoia in our culture that we've lost control."
The Carlyle Group Wednesday morning announced that it will become the latest big private equity firm to convert from a publicly traded partnership into a C-corporation.
The big picture: Carlyle converting, on its face, isn't too surprising. Rivals like Apollo, Blackstone and KKR already took the plunge. But this particular conversation is different because Carlyle is giving all of its shares equal voting rights, meaning that the firm's 30% outside owners will have a 30% say in the business. Other firms have maintained a dual-class share structure.
The private sector added 156,000 jobs in July, more than the 150,000 economists expected and an improvement from the June figures which were revised slightly higher, according to a closely watched report by ADP and Moody's Analytics.
Why it matters: The ADP report is seen as an indicator of what could come from the government's official jobs release on Friday. Mark Zandi, chief economist at Moody's Analytics noted in a call with reporters that job growth in the private sector remains healthy, but is "throttling back" from the outsized job gains we've seen in previous months — particularly among small businesses.
South Bend Mayor Pete Buttigieg quoted scripture during the second Democratic presidential debate on Tuesday to attack Republican senators for blocking a bill to raise the federal minimum wage to $15.
Bernie Sanders made waves ahead of his time in the debate spotlight Tuesday night with a conversation on "canceling student debt, climate change and raising the minimum wage" with rapper Cardi B for an upcoming campaign video.
Why it matters: "We [are] working on a way to involve more young people in the political process," Sanders told CNN. "The future of America depends on young people. They are voting in large numbers, but not large enough numbers."
More than 50% of federal aid meant to help American farmers cope with the negative impacts of the U.S.-China trade war went to the largest and wealthiest farms, according to a new study of Department of Agriculture data.
Why it matters: The Trump administration prioritized aid to farms that produced high volumes of specific crops, leaving smaller farms behind, per the study. Senate Finance Committee Chairman Chuck Grassley (R-Iowa) says the findings illustrate a need for "payment caps" on the aid, reports Bloomberg.
Niche media outlets are having their moment, with cross-vertical topics experiencing new room for growth.
Where it stands: The Athletic, a digital sports news subscription service, has reached more than 500,000 subscribers and expects nearly 1 million globally by year's end, thanks to heavy investments being made in the U.K.
A handful of venture capitalists have participated in the seed round for The Juggernaut, a premium subscription publication for South Asian stories and news, Axios has learned.
Why it matters: It's the latest in a series of investments from venture capitalists and Hollywood giants in South Asian storylines and talent.
Beyond Meat filed for a follow-on public offering of 3.25 million shares, which had a market value of $763 million at the time of filing.
Why it matters: Those same shares at today's open had a market value of just around $600 million, down more than 20%, as investors seem unable to stomach a secondary offering announced less than three months after IPO. Beyond Meat likely thought its much better-than-expected Q2 earnings could pump its new float, but it may have been a rotten bet.
Investors are scrambling to get their hands on next-generation meatless and agrifood technology companies, but the past couple of years have proven very lucrative for old-fashioned fast-food chains.
Why it matters: While legacy brands like Kraft Heinz and Campbell's are losing market share as consumers' tastes and shopping habits change, fast-food legacy names like McDonald's and KFC/Taco Bell owner YUM! Brands are seeing all-time high stock prices.
Political groups on both sides of the aisle are throwing money and resources at propping up local, partisan websites that are often designed to appear as straight news. Some of these sites are leveraging Facebook advertising to boost their content.
Why it matters: Local news deserts in America are being displaced by big-money politics, and the trend is accelerating ahead of the 2020 election, thanks in large part to technology.
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