Fiat Chrysler HQ in Auburn Hills, Michigan. Photo: Bill Pugliano/Getty Images

Fiat Chrysler and Peugeot-maker PSA Group of France are moving forward with a merger that is expected to be announced Thursday, CNBC reports.

The big picture: Last May, Fiat Chrysler submitted a proposal for a 50-50 merger with Renault, but the deal couldn't get off the ground without the French government's approval, a major shareholder in Renault. However, the new talks between Fiat and Peugeot are fluid and a final deal may not even be reached.

Our thought bubble via Axios' Joann Muller: Fiat Chrysler's talks with PSA could be a way to leverage Renault to restart negotiations. The Renault deal made more sense than this possibility.

  • The bottom line per WSJ: "A deal would give Fiat Chrysler more exposure to Europe, where Peugeot sold 2.5 million vehicles last year, compared with one million for Fiat Chrysler. The Italian-American company, however, has tried in recent years to lessen its dependence on the continent."

Go deeper: Another marriage scuttled, Fiat Chrysler forges ahead

Go deeper

10 hours ago - Health

15 states broke single-day coronavirus records this week

Data: Compiled from state health departments by Axios; Map: Danielle Alberti/Axios

At least 15 states broke their single-day novel coronavirus infection records this week, according to state health department data reviewed by Axios.

The big picture: The number of coronavirus cases increased in the vast majority of states over the last week, and decreased in only two states plus the District of Columbia, Axios' Andrew Withershoop and Caitlin Owens report.

Updated 10 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 3 p.m. ET: 11,143,945 — Total deaths: 527,681 — Total recoveries — 6,004,593Map.
  2. U.S.: Total confirmed cases as of 3 p.m. ET: 2,818,588 — Total deaths: 129,584 — Total recoveries: 883,561 — Total tested: 34,213,497Map.
  3. States: Photos of America's pandemic July 4 ICU beds in Arizona's hot spot reach near capacity.
  4. Public health: U.S. coronavirus infections hit record highs for 3 straight days.
  5. Politics: Trump extends PPP application deadlineKimberly Guilfoyle tests positive.
  6. World: Mexican leaders call for tighter border control as infections rise in U.S.
  7. Sports: 31 MLB players test positive as workouts resume.
  8. 1 📽 thing: Drive-in movie theaters are making a comeback.
11 hours ago - Health

In photos: America celebrates July 4 during global pandemic

Photo: Francine Orr/Los Angeles Times/Getty Images

The U.S. has already celebrated Easter, graduations and so much more during the coronavirus pandemic, and now it can add July 4 to the list.

The state of play: Axios' Stef Kight writes public parades and fireworks displays around much of the country are being canceled to prevent mass gatherings where the virus could spread. Hot-dog contests and concerts will play to empty stands and virtual audiences — all while American pride treads an all-time low.