Slain journalist Jamal Khashoggi. Photo: Mohammed Al-Shaikh/AFP/Getty Images

Saudi Arabian state media announced Thursday that the kingdom plans to seek the death penalty against five suspects in the killing of Washington Post columnist Jamal Khashoggi, the AP reports.

The big picture: Saudi Arabia has felt immense international pressure regarding its response to Khashoggi's death, especially following revelations that the assassination may have been overseen by Crown Prince Mohammed bin Salman. And it's sure to face even more scrutiny regarding this ongoing court case — as very few details, including the identities and alleged motives of the suspects, have been made public.

Go deeper: Senators convinced Saudi crown prince behind Khashoggi murder

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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.