1. Private Equity Buyouts Lead to Significant Layoffs；
2. U.S. and Ukraine Reach Mineral Agreement；
3. Bank of America Ends DEI Programs；
4. Adobe Launches Photoshop for iPhone；
5. Tesla’s Market Cap Drops Below $1 Trillion；
6. 76% of Americans Plan to Reduce Spending；
7. U.S. Introduces $5 Million “Gold Card”。
1. Private Equity Buyouts Result in Significant Layoffs
A new study by workforce analytics firm Revelio Labs reveals that employees at companies acquired by private equity firms are more likely to quit or be laid off within 12 months compared to their industry peers. This suggests that private equity buyers tend to cut costs through layoffs, and employees dissatisfied with new ownership are more prone to leaving.
Additionally, companies acquired by private equity firms tend to offer lower salaries for new hires, with average pay for operational roles dropping by 10.6%.
Between 1980 and 2013, publicly traded companies that were taken private experienced an average workforce reduction of 13% within two years of acquisition.
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2. U.S. and Ukraine Reach Rare Minerals Agreement
Sources report that Ukraine and the U.S. have reached an agreement to share revenue from rare mineral extraction. Ukrainian Prime Minister Volodymyr Zelensky is scheduled to travel to the U.S. on Friday to sign the treaty with President Trump.
However, the new treaty does not include security guarantees from the U.S.
Under the agreement, the U.S. will no longer require Ukraine to pay $500 billion but will instead establish a joint fund to share revenue from natural resource extraction. Ukraine hopes for a 50-50 investment split in the fund.
Since China dominates global rare mineral processing, Western countries will still need to send materials to China for refinement.
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3. Bank of America Cancels DEI Initiatives
Sources indicate that under pressure from Trump’s policies, Bank of America (BofA) is scaling back diversity, equity, and inclusion (DEI) initiatives.
In its annual report released Tuesday, BofA replaced the term “diversity” with “talent” and “opportunity.”
Since Trump’s election, corporations have faced increased political and legal scrutiny, prompting a rollback of DEI programs. CEO Brian Moynihan emphasized that BofA remains committed to providing opportunities for individuals from all backgrounds, regardless of their school, upbringing, or community.
Trump has signed executive orders restricting DEI programs across multiple industries.
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4. Adobe Launches Photoshop for iPhone
Adobe announced on Tuesday that its Photoshop photo-editing software is now available on iPhones, with an Android version expected by year-end.
The free version includes three core features, including AI-powered image generation and multilayer editing. Adobe aims to expand its user base by offering robust tools in the mobile version.
A $7.99-per-month premium version will include additional advanced features.
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5. Tesla Market Cap Falls Below $1 Trillion
On Tuesday, Tesla’s stock plunged 8.4% to $302.8, pushing its market cap below $1 trillion to $974 billion. Over the past four trading sessions, Tesla’s stock has declined 16%, wiping out $186 billion in market value.
Concerns over Tesla’s declining European sales have shaken investor confidence, causing the company to lose its $1 trillion valuation status.
Investors had initially hoped that Elon Musk’s political ties with Trump would expedite regulatory approval for Tesla’s autonomous driving technology.
However, Musk’s political involvement has yet to yield any tangible benefits for the company.
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6. 76% of Americans Plan to Cut Spending
A new study by Wells Fargo found that economic uncertainty has led over half of Americans to delay major life decisions, such as buying a home, pursuing education, or retiring.
The survey revealed that one-third of respondents have postponed home purchases, one-sixth have delayed education plans, and one-eighth plan to retire later.
Despite inflation easing from its 2022 peak, high living costs continue to impact consumer behavior. A staggering 90% of respondents cited high costs for dining out and entertainment as significant concerns.
This year, 76% of respondents plan to cut spending, up from 67% in 2024.
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7. U.S. Launches $5 Million ‘Gold Card’
On Tuesday, President Trump signed a new executive order introducing a $5 million “Gold Card” as an alternative legal immigration pathway. This program may replace the existing EB-5 investor visa program.
Trump stated that the Gold Card would grant the same privileges as a green card, while also generating revenue to help reduce the U.S. fiscal deficit. Purchasers of the Gold Card are expected to create jobs and pay taxes in the U.S.
While Trump has taken a hard stance against illegal immigration, he continues to support legal immigration initiatives.
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This report contains information sourced from Financial Times, Bloomberg, The Real Deal, and other financial news media.