Former first lady Michelle Obama. Photo: Paul Morigi/Getty Images for Glamour

New York is leading a group of states — and Washington, D.C. — in a lawsuit against the Trump administration for reversing healthier school lunch nutrition standards introduced in one of Michelle Obama's signature programs.

What's happening: California, Illinois, Minnesota, New Mexico, Vermont, D.C., and New York have asked the court to pause the administration's sodium and whole grain standards, citing concerns that students are ingesting too much sodium under the current rules, which allow schools to freeze sodium levels as they exist and opt out of whole-grain products.

The other side: The Trump administration has said it believes healthier options introduced in the Obama plan lead to more waste, as kids don't want to eat the healthier options.

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The new buyout barons

Illustration: Eniola Odetunde/Axios

Last month I wrote that SPACs are the new IPOs. But I may have understated it, because SPACs are also becoming the new private equity.

By the numbers: Short for "special purpose acquisition company," SPACs have raised $24 billion so far in 2020, with a loaded pipeline of upcoming offerings. U.S. buyout firms raised nearly $102 billion through the end of June — a much larger amount, but not so much larger that the two can't play on the same field.

3 hours ago - World

Macron visits Beirut promising a "new political pact" for Lebanon

Macron visits the hard-hit Gemmayzeh neighborhood. Photo: AFP via Getty Images

French President Emmanuel Macron walked through the blast-damaged streets of Beirut on Thursday, swarmed by people chanting for the fall of Lebanon's government and pleading for international aid.

Why it matters: Lebanon is at a breaking point. Its economy was collapsing and its government hardly functioning — all before a massive explosion destroyed swathes of the capital city, including its vital port.

3 hours ago - Sports

The PGA Championship is golf's first major in over a year

Photo: Gary Kellner/PGA of America via Getty Images

The 2020 PGA Championship tees off Thursday at San Francisco's TPC Harding Park, which is hosting its first-ever major.

Why it matters: It's the first major in more than a year — and the first of seven majors in the next 12 months. Though there won't be any fans in attendance, the excitement is palpable.