Michael Vadon

In an effort to comply with ethics laws, Ivanka Trump and her husband Jared Kushner will step down from their executive roles at Trump Organization and Kushner Companies, respectively. Kushner earlier today accepted a White House adviser role, as first reported by Axios.

Trump leaves behind her roles and stock in the Trump Organization, as well as her fashion brand. Kushner will sell property and stock in Thrive Capital and leave his job at the Kushner organization, in addition to divesting his stake in the New York Observer.

What we're watching: The President-elect has not announced any changes in his plans to divest his financial holdings in his organization. He holds his next presser Wednesday.

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Mergers and acquisitions make a comeback

Illustration: Sarah Grillo/Axios

A slew of high-profile headlines led by Microsoft's expected acquisition of social media video app TikTok helped bring the Nasdaq to another record high on Monday.

Why it matters: The mergers-and-acquisitions market looks like it's bouncing back, joining the revived credit and equity markets as well as the market for new public companies through IPOs and special purpose acquisition companies (SPACs).

U.S. Chamber of Commerce warns of racial inequality for small businesses

Illustration: Aïda Amer/Axios

Attitudes and beliefs about racial inequality are changing quickly as protests and media attention have helped highlight the gaps in opportunity between white- and minority-owned businesses in the United States.

Driving the news: A new survey from the U.S. Chamber of Commerce and MetLife provided early to Axios shows a 17-point increase in the number of small business owners who say minority-owned small businesses face more challenges than non-minority-owned ones.

BP's in the red, slashing its dividend and vowing a greener future

Photo: Ben Stansall/AFP via Getty Images

BP posted a $6.7 billion second-quarter loss and cut its dividend in half Tuesday while unveiling accelerated steps to transition its portfolio toward low-carbon sources.

Why it matters: The announcement adds new targets and details to its February vow to become a "net-zero" emissions company by mid-century.