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The European Commission is considering reshaping a proposed EU-wide corporate levy to generate more revenue from large U.S. technology companies such as Apple, Meta, and Google without specifically targeting the digital sector and risking retaliation from the Trump administration. The existing Corporate Resource for Europe proposal would require companies operating in the EU with annual revenue above €100m ($111.87m) to make a lump-sum contribution, but officials are considering raising the revenue threshold and contribution levels to focus the levy on the largest corporations. The changes could increase the amount collected from Big Tech while addressing concerns that the current proposal would disproportionately affect medium-sized European companies. The levy would apply across industries, rather than exclusively to technology companies, and is one of five proposed new EU revenue sources intended to collectively raise about €60bn annually for the bloc’s common budget beginning in 2028. Any changes would require unanimous approval from all 27 EU member states. Brussels is exploring alternatives after international efforts to reform multinational corporate taxation stalled, and amid concerns that a dedicated digital services tax could trigger U.S. trade retaliation.

 

Financial Times

Reuters

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The U.S. trade deficit widened 13.7% in August to $105.6bn, the Commerce Department reported on Tuesday, its highest level in 17 months. Imports climbed 4.3% from July to a record $420.8bn, driven by petroleum, gold, and semiconductors used for artificial intelligence, while exports rose 1.4% to $315.2bn. The AI infrastructure boom has contributed significantly to import growth, with U.S. semiconductor imports exceeding $90bn during the first eight months of 2026, almost double the year-earlier level. Since President Trump returned to office, the monthly trade deficit has averaged $74.5bn, compared with $73.8bn during the final year of the Biden administration. Economists said continued AI-related imports, inventory restocking, and weaker support from oil exports could make trade a significant drag on third-quarter economic growth.

 

Bloomberg

New York Times

Reuters

The U.S. Justice Department has instructed employees to use “super intelligence” and the abbreviation “SI” instead of “artificial intelligence” in most official contexts, including public communications, policy documents and, where appropriate, court filings. The directive from acting Deputy Attorney General Trent McCotter follows President Donald Trump’s executive order requiring federal agencies to adopt the new terminology, which he said better reflects the technology’s potential. Staff were told to make the change “to the maximum extent permitted by law”. The move comes as public confidence in AI has been tested by hacking incidents and wider safety concerns. Trump has generally opposed imposing new regulations on the technology, although he has said the Justice Department could intervene if necessary.

 

Reuters

U.S. News

A new Government Accountability Office report has found that a growing number of gig workers earn too little to cover basic needs, leaving them dependent on food stamps and Medicaid. Uber, Lyft and DoorDash rank among the top employers of safety-net recipients in several states, showing the scale of low-paid app-based work. A USA Today opinion argues that this contingent labor model, rather than AI alone, is a central cause of the broader U.S. job crisis. It says gig arrangements make workers disposable while public assistance supports people whose earnings do not cover living expenses.

 

USA Today

Despite 7.1m job openings in the U.S., many young workers face challenges in finding meaningful entry-level positions. Dr. Daryl D. Green, in the inaugural Nehemiah Leadership Brief titled “Where Are the Jobs?”, emphasized: “The national numbers tell us jobs exist. They do not tell us whether the pathway into those jobs is still working.” Research from the Stanford Digital Economy Lab indicates that generative AI adoption has led to a decline in junior workforce representation, particularly affecting workers aged 22 to 25 in AI-exposed roles. Green argues that the focus should shift from fearing job loss to understanding how AI alters job requirements and skills needed for advancement. The Brief aims to guide educators and employers in supporting young workers through this transition.

 

Cincinnati.com

Plaid finance chief Seun Sodipo is reshaping the finance team to play a more active role in business decision-making, encouraging staff to move beyond analysing numbers and engage directly with company leaders. Sodipo, who joined from Glossier in October 2025 after earlier senior roles at Stripe, said she has focused on “shifting mindsets” so finance employees see business partnership as part of their mandate. She is also preparing Plaid for the AI era and a possible future IPO by strengthening operational rigor and using AI inside finance. The team has built its own benchmarking tool linked to SEC data and developed an AI contract-review system to check customer order forms against Salesforce, replacing third-party providers. Sodipo said she has urged staff to pursue larger AI projects rather than isolated experiments, telling them: “Let’s try and think big.”

 

Wall Street Journal

McDonald’s U.S. franchisees are raising concerns about the cost of the fast-food chain’s multiyear “Next” plan, which aims to improve food quality, service, restaurant design, and operational efficiency. The upgrades are expected to cost operators about $800,000 per location, on top of scheduled remodels costing at least $400,000, potentially bringing total investment to roughly $1.2m per restaurant. Franchisees are concerned about taking on additional debt and are seeking more information about the sales increases they can expect from the investment. Guggenheim Securities expects operators could seek to negotiate the cost of the program down by roughly 20%-40%. McDonald’s has committed about $8.5bn in cash and rent relief to help offset franchisees’ costs, with support varying by operator. The company expects initiatives including automated order-taking to generate approximately $100,000 of annual cash flow savings for operators and is targeting investment returns of at least 20%.

 

Bloomberg

Rip Van has appointed former Hershey US president Todd Tillemans as chief executive as the low-sugar snack maker prepares to expand its retail presence and reach $100m in retail sales this year. Mr Tillemans, most recently chief commercial officer at Perdue Farms, succeeds co-founder Rip Pruisken, who will remain involved in daily operations, fundraising, and product development, while fellow co-founder Marco De Leon will continue as chief financial officer. Rip Van, which sells seven lower-sugar, high-fibre snack varieties, is expanding into 1,800 additional stores, including physical Walmart locations later this month, as well as Albertsons, BJ’s Wholesale Club, and Wawa. Its products are already available through Whole Foods Market, Costco, and Walmart online.

 

Bloomberg

Constellation Brands has reported fiscal second-quarter revenue up 6% to $2.63bn, ahead of analysts’ $2.54bn forecast, while profit increased to $565.8m, or $3.32 per share, from $466m, or $2.65 per share, a year earlier. Comparable earnings of $3.74 per share also exceeded analysts’ expectations of $3.55. Sales in its beer business, which includes Corona and Modelo, rose 5%, supported by stronger demand in bars and restaurants, including World Cup-related activity, although tighter consumer budgets weighed on sales through grocery and liquor stores. Wine and spirits sales increased 17%, while pricing was broadly flat and volume growth drove most of the overall revenue increase.  

 

Wall Street Journal

Frasers Group has acquired an 8.8% stake in U.S. sportswear group Under Armour, extending its strategy of investing in underperforming brands and marking a renewed push into the US retail market. The Sports Direct owner holds around 16.6m Under Armour shares, worth approximately $80.1m based on Tuesday’s closing price. The investment follows Frasers’ recent acquisition of an almost 6% stake in Puma and its takeover of Nordic sporting-goods retailer XXL last year. Under Armour is undergoing a turnaround after its shares fell around 90% from their peak more than a decade ago, with the company cutting its product range and reducing discounts after lowering its outlook in August amid challenging consumer demand.

 

Bloomberg

Financial Times

Texas state Sen. Nathan Johnson, the Democratic candidate for attorney general, has pledged to investigate Deloitte and review the state’s use of outside contractors following a software error that left at least 178,000 voter registration applications unprocessed. Deloitte allegedly installed a software update on Department of Public Safety servers in 2025 that caused the problem, which was discovered in September, shortly before the November elections. Deloitte did not immediately respond to the article’s request for comment. Johnson said the incident raises broader concerns about outsourcing core state functions and plans to examine both the contracting process and individual agreements if elected. Deloitte has six active contracts with the Department of Public Safety worth a combined $84.46m and 30 active contracts across 16 Texas agencies totaling $2.02bn. 

 

CNBC

Tesla is lobbying European regulators to approve its Full Self-Driving technology, using company safety research and public pressure to argue that delays could cost lives. The campaign has secured a key approval in the Netherlands, paving the way for an EU-wide vote, while seven other countries have granted national approvals. However, seven traffic-safety researchers who reviewed Tesla’s methodology said its European study does not substantiate claims that FSD prevents fatal crashes. They questioned its use of professional drivers, small FSD mileage samples and driving behaviours such as horn use as substitutes for crash data. Tesla says FSD remains supervised and requires drivers to stay attentive, while Dutch regulator RDW maintains that its assessment was independent and objective.

 

Reuters

Amazon and Walmart-owned Flipkart have begun reviewing internet-connected security cameras sold by third-party sellers on their Indian platforms after a Reuters analysis found that more than 700 of roughly 770 listings were for models not included in the Bureau of Indian Standards’ database of approved cameras and brands. Any products found without the required government approval are expected to be removed, with at least a dozen listings already taken down. India has required surveillance camera manufacturers to submit hardware and software for security testing and certification since April, amid concerns that sensitive footage could be transferred overseas. The affected listings include products from brands linked to Hikvision and Dahua, which together accounted for 30% of India’s security camera market last year, while Amazon is also reportedly planning to remove Dahua’s Imou brand page.

 

Reuters

FlyDubai is facing scrutiny over whether its rapid post-pandemic expansion outpaced its ability to recruit and vet pilots after a 29-year-old first officer allegedly attempted to crash a flight to Israel. The carrier has nearly doubled its workforce since the pandemic and built its business around serving routes that many Western airlines avoid, including Tel Aviv, Kabul and Damascus. Its Israel operation had become particularly important, carrying more than 800,000 passengers through Ben Gurion in 2025, up 71% from 2024. The pilot involved had reportedly experienced unsuccessful stints at airlines in Oman and Morocco before joining FlyDubai in February. The airline has suspended its Dubai-Tel Aviv route and said the “safety and wellbeing of our passengers, crew and operations remain our highest priority” while cooperating with investigators.

 

Wall Street Journal

The European Parliament has called for EU-wide rules to address work-related stress, burnout, depression and anxiety, which affected 29% of EU workers in 2025 and 32% of those aged 25 to 39. MEPs want psychosocial risks such as harassment, excessive workloads and unpredictable hours recognised as potential causes of occupational disease. Belgian Socialist MEP Estelle Ceulemans said that “illnesses linked to psychosocial risks, such as burnout, must be recognised as occupational diseases”. The resolution proposes binding employer obligations, stronger labour inspections, a right to disconnect outside working hours and voluntary telework. It would also shift the burden of proof in some occupational disease cases, requiring employers to rebut evidence linking workplace risks to health damage. Far-right groups opposed the measures, arguing they could impose excessive obligations on businesses. The European Commission has now been asked to propose legislation on psychosocial risks, stress and workplace mental health.

 

Business Review

Euronews