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Corporate Retreat from DEI Programs Widens

Amid scrutiny from the new administration, Citigroup and PepsiCo announce rollbacks of their DEI policies, joining other major businesses in a retreat from corporate diversity programs.

White House: Elon Musk Not Running DOGE

Elon Musk is not in charge of the Department of Government Efficiency (DOGE), according to a White House affidavit. The document claims Musk is merely a "senior adviser" with no formal authority.

Merck in Talks to Acquire Springworks Therapeutics for $3 Billion

Merck KGaA in advanced talks to acquire Springworks Therapeutics in a deal that could be signed in the coming weeks, sources say. Springworks has a market value of $3 billion.

Starbucks aims for turnaround with focus on core products and faster service

Starbucks (SBUX) reports Q1 2025 results, beating expectations despite declines in same-store sales and foot traffic. CEO Brian Niccol's turnaround plan focuses on core coffee products, pricing, and faster service. The company plans to reduce menu offerings, invest in marketing, and improve staffing levels. Wall Street analysts expect ongoing negative sales trends, but anticipate momentum in the future.

Fed-Trump Clash Looming as Central Bank Eyes Inflation, Economy

The Federal Reserve meets this week for its first meeting of 2025, with President Trump hinting at a coming clash with Fed policymakers over interest rates. Trump has said he wants rates to come down "a lot," while Fed officials have suggested they may not be changing for awhile. Some watchers of the US economy are now raising the possibility that the Fed could even be forced to raise rates this year.

IAG Said to Lead Race to Buy $1 Billion Stake in Portugal's TAP

IAG Emerges as Frontrunner in Race for TAP Stake, Signaling New Era of European Airline Consolidation