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L’Oréal, Dyson, and Bausch + Lomb have become the latest major companies to sue the U.S. government for refunds of tariffs imposed under President Donald Trump’s emergency trade measures, following a Supreme Court ruling that declared the duties unlawful. The companies filed complaints in the U.S. Court of International Trade after the Supreme Court ruled 6-3 that Mr Trump exceeded his authority by using the International Emergency Economic Powers Act (IEEPA) to impose tariffs. The decision potentially opens the door to refunds of up to $175bn in tariff collections. The cases add to a growing list of more than 1,400 importers - including Costco and Goodyear - challenging the tariffs. FedEx and skincare brand Sol de Janeiro have also filed suits.

 

Bloomberg

Reuters

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President Donald Trump brushed aside affordability worries in his State of the Union speech on Tuesday, repeatedly insisting that the U.S. economy is thriving despite polls showing widespread public dissatisfaction over inflation and living costs. In a nearly two-hour address, Mr. Trump declared that “inflation is plummeting” and “incomes are rising fast,” portraying the economy as stronger than ever. He offered few new policy proposals to tackle cost-of-living pressures and instead highlighted past tax cuts, falling mortgage rates and lower gasoline prices. When acknowledging concerns about affordability, Mr. Trump blamed Democrats, calling their criticism over rising prices a “dirty, rotten lie.” Democrats quickly criticized the address, arguing it lacked solutions for everyday Americans. Sen. Elizabeth Warren (D-MA) said the president failed to address issues such as capping credit card interest rates and reducing childcare costs. Polls indicate that majorities of voters disapprove of Mr. Trump’s handling of the economy, inflation and tariffs, raising questions about whether his optimistic message will resonate beyond his core supporters.

 

Bloomberg

Los Angeles Times

Politico

Wall Street Journal

Chief financial officer turnover reached a seven-year high in 2025, with 316 global appointments across 13 major stock indexes - a 10% increase from the prior year - according to data from Russell Reynolds Associates. While retirements accounted for 60% of departures, burnout and role fatigue are increasingly driving finance chiefs to step down. Expanding responsibilities - including capital allocation, investor relations, enterprise risk management and activist engagement - have made the CFO role more demanding than ever. Many seasoned executives are opting for board roles, advisory positions or private equity opportunities that offer greater flexibility.

 

Bloomberg

U.S. Secretary of Defense Pete Hegseth has vowed to remove Anthropic from his agency's supply chain if the company declines to allow its AI technology to be used across military applications. A senior Pentagon official said Anthropic had until Friday evening to comply. "We continued good-faith conversations about our usage policy to ensure Anthropic can continue to support the government's national security mission in line with what our models can reliably and responsibly do," Anthropic said in a statement.

 

Axios

BBC News

Europe’s defence chiefs are concerned that discussions about regional “tech sovereignty” could have serious security consequences given the continent’s reliance on U.S. technology for military communications and intelligence gathering.

 

Financial Times

Wynn Resorts has confirmed that hackers stole employee data, prompting the company to launch an investigation with external cybersecurity experts. Chief Communications Officer Michael Weaver said that the "unauthorized third party acquired certain employee data," but added that there is currently no evidence of the data being misused or published. The hackers reportedly demanded 22.34 bitcoin (approximately $1.5m). Wynn did not disclose specifics about how many employees were affected.

 

Reuters

Crypto.com has received conditional approval from the Office of the Comptroller of the Currency for a national trust bank charter, allowing the digital assets firm to operate as a federally regulated custodian. The charter will enable Crypto.com to manage client assets and handle trade settlements, although it will not permit cash deposits or loan issuances. Analysts suggest that obtaining a national trust bank charter is crucial for crypto companies aiming to attract institutional clients and integrate into the traditional financial system more effectively.

 

Reuters

The Panamanian government has handed control of the Balboa and Cristóbal ports on the Panama Canal to Danish shipping giant Maersk and Swiss-based MSC after the country's top court last month annulled a contract with Chinese conglomerate CK Hutchison Holdings as operator of the two key ports following legal challenges. CK Hutchison considers Panama’s takeover of the two ports, and the court’s earlier ruling, as unlawful. Hong Kong’s government has lodged a formal protest against Panama for the takeover. Panama “is responsible for harm and damage caused by the confiscatory actions it has taken,” CK Hutchison said.

 

Bloomberg

Financial Times

West Virginia's attorney general, JB McCuskey, has filed a lawsuit against Apple, accusing the company of enabling the distribution of child sexual abuse material (CSAM) via its iCloud service. The lawsuit claims Apple failed to implement necessary tools to detect such material, prioritizing user privacy over child safety. McCuskey stated: "These images are a permanent record of a child's trauma." Apple denied the allegations, asserting its commitment to user safety. The lawsuit seeks damages and demands Apple enhance its measures to combat CSAM.

 

The New York Times

The Guardian

Berkshire Hathaway-owned utility PacifiCorp has reached a $575m settlement with the U.S. government regarding claims that its electrical lines caused six wildfires in Oregon and California. Although PacifiCorp denies any liability for the fires, which collectively burned nearly 290,000 acres, the company said that the settlement provides "certainty for customers and progress toward a financially healthy utility."

 

Reuters

The Insurance Information Institute (Triple-I) has reported a surge in flood risks across the US. In its brief, "Flood Insurance: State of the Risk," Triple-I noted that many homeowners underestimate their flood risk, with 64% believing their properties are safe. Despite the growth of private flood insurance, over half of policies are still through the National Flood Insurance Program. Sean Kevelighan, Triple-I CEO, emphasised the importance of investing in flood insurance and mitigation measures to reduce future disaster costs.

 

Reinsurance news

Elon Musk is actively recruiting Korean semiconductor engineers to support Tesla's plans for a large-scale chip production hub, known as "Terra Fab." He announced job openings for AI chip design engineers on his X account, highlighting a need for talent in chip design and fabrication. Musk said: "If you're in Korea and want to work on chip design, fabrication or AI software, join Tesla!" Demand for semiconductor engineers is rising, with Korea projected to face a shortfall of 54,000 engineers by 2031, according to the Korea Semiconductor Industry Association.

 

Korea Joongang Daily

The Korea Times

Cattle ranchers across Oklahoma and Kansas are urgently seeking hay and feed after massive wildfires scorched hundreds of thousands of acres of pasture, killing cattle and destroying grazing land at a time when U.S. herd numbers are already at a 75-year low. The largest blaze, the Ranger Road Fire, burned more than 283,000 acres in northern Oklahoma and southern Kansas and was about 65% contained as of Monday. Additional fires have affected parts of Texas, with some cattle killed and many pastures reduced to barren sand. With grasslands wiped out, ranchers are relying on hay donations from across the country to sustain surviving herds. Farmers cut fences to help cattle escape advancing flames, though some animals suffered burns or died. Officials warn that pasture recovery could take longer than usual due to the intensity of the fires.

 

Reuters