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The deployment of AI agents in online shopping raises concerns about scams and data privacy, according to a report from banks including NatWest and Bank of America. Some retailers have seen increased traffic from AI agents, but banks warn that technology is outpacing consumer protections. The report highlights risks such as AI agents soliciting payment details and directing users to less secure payment channels. Banks plan to propose measures for transparency and data protection to policymakers. "Consumers are unclear if AI will act in their ‌interests," ⁠the report says. "They are concerned that AI agents may buy the wrong thing or spend too much – or even worse, lose their money to scams and fraud. They are not sure whether they will be protected or who they ​will need to go ​to if things ⁠go wrong."

 

Reuters

Three-quarters (73%) of Americans say AI firms are not doing enough to prevent disaster, according to a Reuters/Ipsos poll. The survey found that many respondents did not have confidence in the companies' ability to regulate themselves, ​and most said federal officials should play a major role in setting safety standards. Fifty-five percent of respondents said it would be good to slow  AI development; 13% said it would be a bad thing. The rest didn't express an opinion or didn't answer the question.

 

Reuters

Nike-owned Converse has apologized and removed a social media advertisement after critics said its imagery evoked the Ku Klux Klan and lynching. The Instagram ad featured K-pop singer Karina holding a pair of Chuck 70 X trainers: critics argued that lighting on her skirt resembled a KKK hood and the positioning of the shoes recalled the imagery of a lynching victim. Converse acknowledged that the image was “deeply upsetting”, and said it had removed the advertisement from its channels and was working to remove it elsewhere. The company declined to provide further details about its advertising review and approval processes, while the controversy prompted calls for a boycott and criticism over how the campaign had passed internal checks.

 

ABC News

Los Angeles Times

The Oregonian

Reuters

The Canadian province of British Columbia is suing OpenAI for its alleged role in the Tumbler Ridge mass shooting in February. The incident at a school in a remote British Columbia community left nine people dead, including the attacker, and many others injured. The province's attorney general, Niki Sharma, said OpenAI is being sued for its failure to notify law enforcement of threats made on its platform, ChatGPT, before the shooting. The company is also being sued for designing an unsafe product, Sharma said. "We owe it to the families, survivors, and everyone whose life was changed by this tragedy, to get answers and accountability," she said. "OpenAI remains committed to working collaboratively with government and law enforcement officials, and continuing to advance our ongoing safety work," OpenAI said in a statement.

 

CBC

Financial Times

Wall Street Journal

A court in Germany has said Meta is liable for fake advertisements posted by third parties ​on its Instagram and Facebook platforms. The lawsuit had been filed by ​a German financial portal whose trademarked logo and image were ⁠used without consent in posts recommending investments allegedly ​with fraudulent intent. Germany’s Frankfurt regional court ordered Meta to remove the fake content and pay damages. "We respectfully disagree with this decision ​and are considering ​next steps," ⁠a spokesperson for the U.S. tech giant said, adding that Meta had taken ​significant action, including proactive detection measures and ​removal of ⁠reported content.

 

Silicon UK

Reuters

CNN, MS NOW and Politico have sued President Donald Trump and other members of his administration for banning them from White House grounds. The news outlets said the action was a violation of their rights to free speech ​and a free press under the U.S. Constitution's First Amendment. They are seeking a temporary restraining order to block Trump's action in federal court in Washington, D.C.. A joint statement from the outlets said: "Without notice or process, the White House revoked our journalists' credentials because it objected to our reporting . . . Left unchallenged, this threatens press freedom and the public's right to independent journalism free from government interference." A hearing is scheduled for tomorrow.

 

Reuters

BBC News

Richmond Federal Reserve President Thomas Barkin has said U.S. economic conditions appear to be strengthening, with resilient consumer spending, improving manufacturing sentiment, healthy banking pipelines, and momentum extending beyond AI-related data center investment. Barkin said inflation risks currently outweigh risks to employment, supporting the Fed’s quarter-point rate increase last week to a 3.75%-4.00% range, while leaving open the possibility of further hikes. He also warned that inflation is increasingly being driven by broader demand rather than solely by energy prices, tariffs, and other supply shocks, noting that much of the Personal Consumption Expenditures Price Index is rising at an annual rate above 3%.

 

Reuters

Rising food prices are increasing financial pressure on U.S. consumers ahead of the holiday season, with 50% saying higher grocery costs are making hosting more stressful, according to a USA Today survey of 1,000 consumers. Despite this, 53% still plan to host or provide food for holiday gatherings and 33% expect to spend more on holiday groceries than last year. Food-at-home prices rose 2.2% year-on-year in August. Shoppers are increasingly focused on value, with Walmart the most popular destination for holiday groceries. Consumers plan to use coupons, set stricter budgets and wait for sales to control spending. However, 44% expect to carry holiday debt into the new year.

 

USA Today

Canada's tax agency is to prioritise advance income tax ruling requests for investments of C$1bn or more. Finance Minister Francois-Philippe Champagne announced the measure in a bid to provide large investors with more certainty. The initiative allows investors to receive binding decisions on tax law applications before committing capital. Champagne said: "This move is meant to reduce risk, inform financing decisions and support Canada's efforts to attract investment." Rulings not qualifying for prioritisation will follow the standard 90-business-day target.

 

Reuters

Activist investor Jana Partners has called on medical-device maker Cooper Cos. to replace chief executive Albert White and appoint a new board chair, arguing that an urgent overhaul is needed to address what it describes as “chronic underperformance”. Jana has also urged Cooper to engage with potential buyers for its CooperVision contact-lens business and consider selling its fertility and medical-device assets. The demands escalate pressure from Jana roughly a year after it built a stake in Cooper and called for strategic alternatives, including a potential combination of the contact-lens business with Bausch + Lomb. Cooper’s shares have fallen around 16% over the past year, giving the company a market value of approximately $10bn.

 

Wall Street Journal

McDonald’s is expected to provide more detail on its McDonald’s > NEXT growth strategy at its investor event in Chicago later today, as it seeks to revive U.S. momentum following a quarter in which same-store sales rose just 0.8%, while restaurant traffic declined. The company is expected to focus on strengthening its value proposition and securing greater franchisee participation in promotions, alongside menu improvements including hand-breaded chicken and an expanded beverage offering. McDonald’s is also preparing for a new restaurant remodeling program, which analysts expect could significantly increase capital expenditures in 2027 and 2028, while management is due to outline its own spending expectations. The company is also expected to address cost reductions, including its outlook for general and administrative expenses and plans to refranchise some company-owned restaurants. The investor day comes as McDonald’s shares have fallen 18% over the past 12 months, reducing its market value to about $175bn.

 

CNBC

Law firm Weil, Gotshal & Manges is considering options for its ​future, including a potential merger with ‌a competitor, Bloomberg has reported, citing individuals with knowledge of the matter. Bloomberg said the firm has been holding informal discussions with its partners and exploring ways to ​strengthen its business through strategic hires and ⁠promotions, and it could still remain independent. There have been a number of key departures at Weil, including prominent New York dealmaker Michael Aiello and five other M&A partners who are set to join ​Cravath, Swaine & Moore, along with two London-based M&A ​partners who recently moved to Sullivan & Cromwell.

 

Bloomberg

Thailand's finance minister, Ekniti Nitithanprapas, says the demands of the job have cut his nightly sleep to about four hours, and weekly vitamin drips and daily supplements keep him going. “They help ease the fatigue,” he said in an interview with Bloomberg News. When he can, Ekniti, who was 55 last week, tries to claim one weekend day for himself, sleeping seven or eight hours and exercising before returning to work. He says such respite can be short-lived: “There always seems to be another crisis.”

 

Bloomberg