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The International Labor Organization (ILO), an agency of the United Nations, has downgraded its global employment forecast for 2025, saying “the global economy is growing at a slower pace than we had anticipated.” In its latest edition of its World Employment and Social Outlook Trends report, the ILO forecast 7 million less jobs would be created in 2025 globally, for a total of 53 million jobs, down from 60 millionbased on economic growth projections from the International Monetary Funds (IMF) April 2025 World Economic Outlook. The numbers translate into slower overall employment growth across the globe in 2025, down to 1.5% from 1.7%; and lower expected GDP growth of 2.8%, down from previous forecasts of 3.2%. “Our report now tells us that if geopolitical tensions and trade disruptions continue, and if we do not address fundamental questions that are reshaping the world of work, then they will most certainly have negative ripple effects on labor markets worldwide,” ILO Director-General Gilbert F. Houngbo said in a statement. The report found the United States was a driving factor in worldwide employment growth, with 84 million jobs across 71 countries “directly or indirectly tied to U.S. consumer demand, now increasingly at risk of disruption due to elevated trade tensions.” Of those 84 million jobs, 56 million are located in the Asia-Pacific region. However, Canada and Mexico have the highest share of jobs (17.1%) that are exposed to trade disruption. The report does make some recommendations: Houngbo said countries and employers can make a difference “by strengthening social protection, investing in skills development, promoting social dialogue, and building inclusive labor markets to ensure that technological change benefits all.”
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E-Commerce
Data analytics firm LexisNexis Risk Solutions said it suffered a data breach that could have affected the names, Social Security numbers, driver’s license numbers, and contact information of more than 364,000 people. The company said in a filing with Maine’s attorney general that an “unauthorized third party” stole data from a third-party platform used for software development. A spokesperson told TechCrunch, which earlier reported about the breach, that an unknown hacker accessed its GitHub account. The breach dates back to last Christmas, though the company said it only discovered it on April 1. “Upon learning of the issue, we promptly launched an investigation with the assistance of leading external cybersecurity experts, notified law enforcement, and took steps to review and further enhance our security controls,” LexisNexis said in a notice that’s being sent out to consumers. “We also initiated an extensive review of the impacted data to identify personal information that may have been affected.” Reached for comment by Fast Company, a spokesperson for LexisNexis Risk Solutions confirmed the third-party breach and emphasized that it did not contain financial or credit card information. “There was no compromise of our own systems, infrastructure, or products,” the spokesperson said. “We are notifying approximately 360,000 individuals and appropriate regulators. We have also reported this incident to law enforcement.” Their market, your data LexisNexis is part of a massive industry in which data brokers collect and sell access to personal and financial data for risk and fraud assessment. That information can have wide repercussions for consumers. For example, The New York Times reported last year that LexisNexis had received driving data from automakers, which the firm would then sell to insurance companies, potentially leading to higher premiums. LexisNexis also operates a large database of legal documents and public records. The Consumer Financial Protection Bureau (CFPB) said in December that it planned to introduce rules that would limit the ability of data brokers to sell sensitive information on Americans. But the new Trump administration halted those operations, and the CFPB officially scrapped the plans earlier this month. “The Bureau is withdrawing this NPRM [notice of proposed rulemaking] in light of updates to Bureau policies,” its listing in the Federal Register said.
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E-Commerce
e.l.f. Beauty (NYSE:ELF) announced on Wednesday that it has signed a definitive agreement to acquire rhode, the beauty brand founded by Hailey Rhode Bieber, alongside its Q4 earnings for the fiscal quarter ending March 2025. (Shares of ELF closed down over 1% Wednesday afternoon, before the news was announced.) e.l.f. Beauty found a like-minded disruptor in rhode, said e.l.f. chairman and CEO Tarang Amin. rhode further diversifies our portfolio with a fast-growing brand that makes the best of prestige accessible.” According to a press release sent to Fast Company, the deal is built on “both brands shared focus on disruption and product innovation, setting the stage for transformative global expansion” and is in line with e.l.f. Beauty’s vision “to create a different kind of beauty company by building brands that disrupt norms, shape culture and connect communities.” Bieber will step into an expanded role as rhode’s Chief Creative Officer and Head of Innovation. “I look forward to leading the brand into this exciting new chapter of possibilities alongside my co-founders Michael D. Ratner and Lauren Ratner, who have helped bring my vision to life from the start,” Bieber said in a statement. rhode plans to launch its first physical in-store partnership with retailer Sephora throughout North America and the U.K. before the end of the year, and has doubled its consumer base over the past year, driving a total of $212 million in net sales in the 12 months that ended March 31, 2025. The $1 billion deal is comprised of $800 million of consideration payable at closing in a combination of cash and stock, subject to customary adjustments, and an additional potential earnout consideration of $200 million based on the future growth of the brand over a three-year timeframe. e.l.f. Beauty previously cut its full-year guidance when it last reported earnings for Q3, after seeing a 36% drop in profits and softer than expected sales trends in January, according to CNBC. In its fiscal third quarter ending December 31, 2024, the cosmetics company reported revenue of $355 million vs. $330 million expected; and an EPS, or earnings per share, of 74 cents adjusted from 75 cents. e.l.f. Beauty has a market cap of $5.10 billion, as of market close Wednesday. The Oakland, California-based skincare and cosmetic products company was founded by Joseph Shamah and Scott Vincent Borba in 2004.
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E-Commerce
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