Axios

About 23.8 million people watched President Trump's speech at the Republican National Convention Thursday, according to early figures from Nielsen. That's about 3% fewer viewers than the 24.6 million who tuned into Joe Biden's speech at the Democratic National Convention last week.

The big picture: TV ratings for the RNC were down about 21% on average this year across all four nights compared to 2016. They were also down 10% compared to the 2020 DNC.

GoodRx, a Santa Monica, California-based telemedicine and drug discount company, has filed to go public on the Nasdaq under the symbol "GDRX."

Why it matters: The company is among a flurry of tech firms that have recently filed to go public — and it's actually profitable.

The dividing line between Fox News and President Trump has become blurred, with each increasingly relying on the other to accomplish their goals.

Axios Re:Cap speaks with Brian Stelter, the CNN media critic and author of a new book about Fox News called "Hoax," about the network's evolution, who really calls the shots, and what Sean Hannity thinks about Trump.

MGM Resorts International plans to lay off 18,000 furloughed workers beginning on Monday, the Wall Street Journal reports.

Why it matters: The number represents a quarter of the resort giant's U.S. workforce and highlights how the hospitality sector has been ravaged by the effects of the coronavirus pandemic.

Amazon announced Friday it will add more than 1,800 battery-powered Mercedes-Benz vans in Europe this year, continuing its push toward electrification of its delivery fleet.

The big picture: Amazon is shipping more of its own products, relying less on major carriers, and the Mercedes purchase makes it clear the giant online retailer favors vehicles that will help remove greenhouse gases from its delivery fleet.

Airlines service cuts to small cities could dramatically affect connectivity for Americans, National League of Cities CEO and Executive Director Clarence Anthony said during an Axios virtual event on Friday. "It is a devastation,' he said.

What's happening: American Airlines last week announced plans to suspend service to 15 small cities once federal coronavirus aid for airlines runs out in October, per CNBC. American was the only airline servicing nine of the affected airports.

The lull in transit use during COVID-19 has given officials room to experiment with public transportation for all communities, Chicago's transportation commissioner, Gia Biagi, said at an Axios event on Friday.

The big picture: Americans have shied away from public transportation during the coronavirus pandemic. But Biagi argues that declines in ridership provide a window to innovation that wouldn't otherwise be available.

This week I'm driving the Hyundai Venue Denim, the very definition of what the auto industry calls a "cute ute."

The big picture: The stylish compact SUV is aimed at young urban buyers who want an SUV but have no intention of driving off-road. (Good thing because it's not available in four-wheel-drive.)

The Chrysler Pacifica — the quintessential family hauler for soccer moms and stay-at-home dads — has a cool side hustle. It's the go-to model for Silicon Valley engineers working on self-driving cars.

Why it matters: Minivan sales have plummeted as America's love affair with SUVs has grown. But Fiat Chrysler Automobiles is quietly carving out a new niche for the Pacifica hybrid with a purpose-built, AV-ready platform.

Former Transportation Secretary Ray LaHood said he expects a bipartisan push in Congress to shore up public transportation during the coronavirus pandemic, as it did for the airlines earlier this year and is under pressure to do again.

The state of play: During an Axios virtual event, LaHood underscored that Americans are using cars, rather than public transit, during COVID-19 pandemic. Public transportation as a result has subsequently seen a massive drop in ridership and revenue along with it.

The Blackstone Group is leading a $300 million minority investment in Tricon Residential, owner of more than 30,000 single-family rental homes.

Why it matters: This is Blackstone's return to the single-family rental market, which it dominated until cashing out of Invitation Homes late last year.

A slew of companies put stock buyback plans on ice at the onset of the pandemic. Now some of them are beginning put share repurchases back on the table.

Why it matters: The ramping up of stock buybacks is a sign that swaths of corporate America feel confident enough to return to some sense of normalcy, even as millions of Americans are still dealing with the harsh fallout from the coronavirus-hit economy.

The Fed is ditching the "take away the punch bowl" mentality, which economists say choked employment opportunity for low-income, Black and Latino workers.

Why it matters: The central bank says the shift will help "foster economic conditions that benefit everyone," and be more inclusive for the communities that aren't lifted when the economy first begins to recover.

Anyone looking to buy a car right now is likely to find fewer choices and higher prices — with very little room to negotiate.

The big picture: The pandemic has thrown off the natural balance between supply and demand for new and used cars, driving up vehicle prices and putting all the bargaining power into the hands of car dealers, who are enjoying fatter-than-normal profits.

CNN debuted a new chyron on Thursday to fact-check Donald Trump's acceptance speech at the Republican National Convention in real-time.

Why it matters: News networks have faced sustained criticism for airing Trump speeches and press conferences live, instead of layering on more fact-checking.