Welcome to Read Sunday, your essential source for a concise and impactful weekly Business & Finance recap. Dive into the pivotal market highlights from the week, distilled for your convenience, and stay tuned for the thought-provoking editor's piece that rounds off your Sunday with insightful perspectives.

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Market Recap

Last Week’s Headlines

Economy & World News

• Protein-Rich Breakfast Favorites Make a Comeback, But Orange Juice Lags Behind
  After years of health debates, eggs, butter, and cottage cheese have regained their spot at American breakfast tables, driven by protein trends. However, orange juice struggles to reclaim its past popularity, with consumption continuously declining since the 1990s, according to recent USDA data.

• DHS Seeks Treasury Assistance in Immigration Enforcement
  The Department of Homeland Security has requested Treasury Secretary Scott Bessent to assign law enforcement personnel, including IRS criminal investigators, to support immigration enforcement efforts. According to a Wall Street Journal report, these agents would focus on investigating and disrupting financial networks tied to human trafficking and illegal employment.

• Trump Announces Major Tariffs on Steel and Aluminum Imports
  President Donald Trump declared that the U.S. will implement a 25% tariff on all steel and aluminum imports, impacting trade partners like Canada and Mexico. This announcement, made aboard Air Force One, has already boosted shares of U.S. steel companies significantly in futures trading, with firms like Cleveland-Cliffs and U.S. Steel seeing notable gains. Further "reciprocal tariffs" are expected to be revealed mid-week.

• European Commission Launches $207 Billion AI Investment Initiative
  To counteract lagging behind the US and China in AI, the European Commission, led by President Ursula von der Leyen, has unveiled the InvestAI initiative at the AI Action Summit in Paris. This ambitious plan includes forming the world's largest public-private AI partnership, with €150 billion funded by investors and industry partners, and an additional €50 billion from EU programs. It also includes a significant €20 billion investment in building four AI gigafactories across Europe.

• India's Inflation Drop Supports Further RBI Rate Cuts, Analysts Predict
  The recent decline in India's consumer price inflation, particularly in January, supports the Reserve Bank of India's (RBI) decision to lower interest rates last week and indicates potential for further easing, according to Harry Chambers from Capital Economics. With food inflation expected to decrease and economic growth slowing, Chambers foresees an additional 75 basis points in rate cuts throughout this year to help stimulate economic growth.

• China Supports Vanke with $6.8 Billion Funding Plan
  Chinese regulators are reportedly developing a proposal to assist distressed developer China Vanke Co., addressing a significant funding shortfall of about 50 billion yuan ($6.8 billion). The plan includes allocating 20 billion yuan from special local government bonds to purchase Vanke's unsold properties and vacant land, enabling the Shenzhen-based company to manage its public and private debt obligations for the year.

• Adani Builds U.S. Political Network Amid Legal Silence
  Following charges in the US, Asia's second-richest man, Gautam Adani, is reportedly expanding his political influence through top-tier law firms and lobbyists to navigate his legal challenges and grow his business operations. Adani is increasingly leveraging these political connections, potentially enhancing his influence ahead of a key meeting between India's Prime Minister Narendra Modi and President Donald Trump in Washington.

• U.S. Egg Prices Soar Amid Worsening Shortage
  The American egg shortage intensifies as bird flu decimates poultry populations, leading to a more than 15% price hike in January alone—the largest increase since 2015. This surge, which represents a 55% jump from last year, contributed significantly to rising overall U.S. inflation, impacting everything from grocery bills to dining out, with establishments like Waffle House implementing an egg surcharge. Stores in major cities are limiting purchases, and some, like a Whole Foods in Chicago, have run completely out of eggs.

• Zelenskyy Seeks Security Guarantees Before Russia Talks
  Amid pressure from the Trump administration for a resolution, Ukrainian President Volodymyr Zelenskyy insists on "security guarantees" prior to any direct negotiations with Russia.

• U.S. Wholesale Prices Climb, Driven by Rising Food and Energy Costs
  January saw U.S. wholesale prices rise more than expected, propelled by increasing costs in food and energy. The producer price index for final demand increased by 0.4%, following a revised 0.5% rise in December, according to the Bureau of Labor Statistics. This escalation in wholesale prices follows closely on the heels of a consumer price index report that indicated underlying inflation at its highest level in over a year, adding tension as the Trump administration considers additional tariffs.

• Robert F. Kennedy Jr. Takes Helm at Health and Human Services
  Robert F. Kennedy Jr. was sworn in as the head of the US Department of Health and Human Services, initiating a shift in health policy direction. Appointed by President Donald Trump and confirmed with a Senate vote of 52-48, Kennedy has raised concerns with vaccine safety and pledged to eliminate artificial food dyes from the US food supply.

• NYSE Chicago to Rebrand as NYSE Texas Amid Business Boom in the State
  The exchange formerly known as the Chicago Stock Exchange will soon operate as NYSE Texas. This change follows TXSE Group's recent SEC filing to register the Texas Stock Exchange, highlighting Texas' growing prominence as a business hub. Notably, Texas is also challenging Delaware's status as the preferred legal domicile for major corporations.

• DOJ Moves to Dismiss Case Against NYC Mayor Eric Adams Amid Controversy
  The Department of Justice has filed to dismiss the criminal corruption charges against New York City Mayor Eric Adams, leading to the resignation of a seventh federal prosecutor in protest. Despite the controversy, President Donald Trump has stated he did not influence the DOJ's decision. The dismissal follows an agreement by Adams to allow federal immigration authorities access to New York’s Rikers Island jail complex.

Public Markets

• BP Shares Surge on News of Elliott Management's Stake
  BP's stock soared following reports that activist investor Elliott Management, led by Paul Singer, has acquired a stake in the oil giant. While the company remained silent on the details, RBC analysts suggest a potential strategy shift to separate BP's traditional oil and gas operations from its renewable energy divisions.

• Rivian Expands Van Sales to All U.S. Fleets, Eyes Growth with New Models
  Rivian is now selling its delivery vans to various fleet sizes across the U.S., a move following the end of its exclusive arrangement with Amazon. The expansion, combined with the upcoming launch of its more affordable R2 SUVs in 2026, is vital as the electric vehicle maker adapts to the shifting demand in the EV market.

• Baidu Set to Launch Next-Gen AI Model Amidst Competitive Pressure
  Baidu is gearing up to release a new generation of its artificial intelligence model later this year, aiming to reclaim a competitive edge in the global AI race dominated by firms like OpenAI. Despite pioneering with its Ernie chatbot in early 2023, Baidu faces increasing competition from other Chinese tech giants and startups, prompting this latest innovation push.

• Uber Sues DoorDash for Alleged Anticompetitive Practices
  Uber Technologies has filed a lawsuit against DoorDash, accusing the food delivery service of anticompetitive behaviors that increase costs for both restaurants and consumers. The lawsuit, lodged in California's state superior court, claims DoorDash coerced restaurants into exclusive delivery agreements, threatening higher fees if they also partnered with Uber Eats. DoorDash has dismissed the allegations as baseless, attributing them to Uber's failure to provide a competitive quality service.

• Meta Platforms Sets Sights on AI-Powered Humanoid Robots

  Meta Platforms Inc. is venturing into the development of AI-powered humanoid robots, marking its latest expansion beyond augmented reality and artificial intelligence. The company plans to establish a new team within its Reality Labs hardware division to spearhead this initiative. Initially, Meta aims to design robots tailored for household tasks, but its broader goal involves developing the AI, sensors, and software necessary for robots that other companies will manufacture and market. Details of this project remain confidential as the initiative has not yet been publicly disclosed.

Real Estate

•  Dell Nears $5 Billion Deal to Supply AI Servers to Elon Musk’s xAI

  Dell Technologies Inc. is close to finalizing a deal valued over $5 billion to supply Elon Musk's xAI with AI-optimized servers. These servers, equipped with Nvidia Corp. GB200 semiconductors, are slated for delivery within the year. The agreement highlights the increasing demand for high-performance computing necessary for AI applications, benefiting server manufacturers like Dell, Super Micro Computer Inc., and Hewlett Packard Enterprise Co. Musk's ventures, including Tesla Inc. and xAI, are significant consumers in this expanding market. Details of the deal are still under negotiation and subject to change.

• TSMC May Take Control of Intel's U.S. Factories Amid Push for American Chip Manufacturing

  Taiwan Semiconductor Manufacturing Co. (TSMC) is considering acquiring a controlling stake in Intel Corp.’s U.S. factories, following encouragement from Trump administration officials aiming to strengthen American manufacturing and secure leadership in essential technologies. According to sources, the Trump administration proposed the idea to TSMC, which showed interest, although it remains unclear if Intel is open to such a deal. The discussions are preliminary, with the potential partnership's specifics yet to be determined. This move could help manage Intel's recent financial challenges, including job cuts and reduced global operations.

M&A, IPO’s, Bankruptcies

• Novartis Acquires Anthos Therapeutics in $3.1 Billion Deal to Enhance Cardiovascular Portfolio
  Swiss pharmaceutical leader Novartis has agreed to purchase Anthos Therapeutics from Blackstone's Life Sciences division for up to $3.1 billion, aiming to strengthen its cardiovascular business as its key drug Entresto approaches patent expiration. This strategic acquisition, set to close in the first half of this year, also marks the end of a notable partnership in drug development between a pharmaceutical giant and a private equity firm, highlighting an emerging funding model in the industry.

• Carlyle Group Plans Confidential IPO for Nouryon with Potential $13 Billion Valuation
  Carlyle Group Inc. has confidentially filed for a U.S. initial public offering of Nouryon, a specialty chemicals producer, which could occur in the second half of the year. Nouryon, known for its chemicals used in diverse sectors such as agriculture and personal care, is potentially valued at about $13 billion. The specifics of the IPO, including timing and valuation, remain flexible and subject to market conditions.

• SailPoint IPO Marks Muted Market Return with $12.8 Billion Valuation
  SailPoint, backed by Thoma Bravo, was valued at $12.8 billion following a subdued debut where shares opened at their offer price of $23 each. This low-key return to the stock market for the Austin-based identity security company highlights ongoing investor caution in 2025, amid an uneven recovery in the IPO market driven by regulatory uncertainty and potential delays in interest rate cuts.

• Diamondback Energy in Talks to Acquire Double Eagle Amid Permian Basin Consolidation

  Diamondback Energy is negotiating to purchase Double Eagle, a significant crude producer in West Texas, signaling ongoing consolidation in the major U.S. oil region. According to sources, the deal, potentially valuing Double Eagle at over $5 billion, may be announced soon unless negotiations falter or another bidder emerges. Double Eagle, which controls over 95,000 net acres in the Permian Basin's Midland area, has been noted for its strategic accumulation and sale of valuable oil patches. Diamondback, with a market value of approximately $47 billion, continues its expansion following last year's acquisition of Endeavor Energy Resources for about $26 billion.

• Elon Musk’s xAI Seeks $10 Billion Funding at $75 Billion Valuation

  Elon Musk’s AI startup, xAI, is in discussions with investors for a $10 billion funding round that would value the company at approximately $75 billion. Existing backers, including Sequoia Capital, Andreessen Horowitz, and Valor Equity Partners, are in talks to participate, though final terms are still being negotiated.

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