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The Consumer Financial Protection Bureau (CFPB) has significantly scaled back its regulatory scrutiny under the Trump administration, with more than half of its spring examinations receiving expedited reviews, a historically rare process reserved for minor violations posing little risk to consumers. Approximately 70 companies have been selected for examination this year, roughly half the usual number, as the administration seeks to reduce regulatory burdens, cut staffing, and shift oversight toward banks, mortgages, and protections for military service members. Current and former officials have warned that political pressure, threats of job losses, and directives discouraging aggressive supervision could allow serious compliance failures to go undetected, potentially exposing consumers to financial harm.

 

Reuters

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The World Health Organization (WHO) is seeking more information from Russia regarding the death of Darya Shipilova, a 28-year-old laboratory worker at the Irkutsk Antiplague Research Institute in the Irkutsk region. Shipilova died from severe pneumonia: authorities are yet to determine the cause. Russian health officials have quarantined around 200 individuals but have reported no dangerous pathogens among those tested. WHO Director-General Tedros Adhanom Ghebreyesus emphasised the need for "timely, complete and transparent information sharing." The Kremlin stated that established procedures were followed in notifying the WHO, which said Russian authorities had reported that no plague cases had recently been registered in the Irkutsk region.

 

Helsinki Times

Americans' expectations for inflation over the next year rose to 3.9% in September, up from 3.6% in August and the highest level since May 2023, according to the Federal Reserve Bank of New York. Three-year inflation expectations increased to 3.3%, while five-year expectations remained unchanged at 3%. Consumers anticipate higher prices for gasoline, food, rent, medical care, and college education, contributing to worsening assessments of their current and future financial situations. Persistent inflation, driven partly by tariffs, rising energy costs, and technology investment, has prompted the Federal Reserve to raise interest rates to 3.75%–4%, with another increase expected before year-end. Despite growing financial concerns, households expressed greater confidence in the labor market, reporting reduced fears of unemployment and improved prospects of finding new jobs. Expectations for future household spending also reached their highest level since May 2023.

 

Reuters

U.S. consumer borrowing increased by $8.3bn in August, significantly below economists' forecasts of $15bn and down from a revised $17.7bn increase in July, according to Federal Reserve data. The slowdown was driven by a $4.8bn decline in revolving credit, including credit card debt, marking its largest drop since November 2024. Meanwhile, non-revolving credit, including auto and student loans, rose by $13.1bn, supported by stronger vehicle sales. Despite resilient consumer spending, households face increasing financial pressure from slowing wage growth, elevated prices, and higher borrowing costs. The average interest rate on credit card accounts carrying interest reached 22.36% in August, its highest level in a year, while rates on 60-month new vehicle loans stood at 7.54%. These pressures are particularly challenging for lower-income households and consumers carrying credit card balances.

 

Bloomberg

A Dutch patent court has ruled ​in favor of biopharma company Halozyme against Merck, ordering the drugmaker ‌to halt production and sale of ​injectable Keytruda in Belgium, Denmark, France, Ireland, Italy, Sweden, Switzerland and the Netherlands. The court in the Hague determined that the subcutaneous (SC) formulation of Keytruda (pembrolizumab) infringes one of Halozyme's patents around its MDASE technology for subcutaneous drug delivery. "The MDASE technology was developed through years of rigorous research to enable rapid, high-volume subcutaneous drug delivery," said Mark Snyder, Halozyme's chief legal officer. "We're very pleased the Dutch court recognised the validity and infringement of . . . EP622 and granted an injunction." A spokesperson for Merck said: "We strongly disagree with the Dutch court’s decision to grant a cross-border injunction. We consider Halozyme’s patent to be invalid globally and its allegation of infringement to be without merit."

 

FirstWord Pharma

Bloomberg

Reuters

Starbucks has reduced references to diversity, equity, and inclusion (DEI) initiatives and softened its environmental commitments in its latest global impact report, shifting its focus toward chief executive Brian Niccol’s “Back to Starbucks” turnaround strategy. The report omits terms such as racial equity, LGBTQIA2+, and pay equity, alongside previously published workforce diversity statistics. It also removes prominent references to earlier targets for reducing waste and water consumption by 50% by 2030. Starbucks has acknowledged challenges in meeting its original greenhouse gas emissions reduction target and plans to announce a revised, science-aligned goal in early 2027. The company maintains that it remains committed to employee inclusion, community investment, and environmental responsibility. The changes reflect a broader shift in corporate DEI reporting, although Starbucks Workers United has criticized the company for retreating from its previous commitments. In other Starbucks news, the firm is laying off 51 employees in Washington state, including eight corporate staff at its Seattle headquarters and 43 retail workers affected by the closure of five coffeehouses. According to a regulatory filing, the corporate layoffs will take place between November 14th and December 4th.

 

The Columbian

The Seattle Times

Amazon has confirmed a new round of layoffs affecting fewer than 1,000 corporate employees, primarily within its Stores division, which oversees the company’s main e-commerce operations. The cuts, which coincide with Amazon’s Prime Big Deal Days shopping event, reportedly affect teams including customer service and selling partner services, with employees in the U.S., U.K., and India among those impacted. The reductions follow a larger restructuring that began last year and continued into January, resulting in approximately 30,000 job cuts. Amazon said the latest changes are intended to improve its organizational structure and help the company deliver on its priorities. Amazon founder and executive chairman Jeff Bezos attributed the broader workforce reductions to overhiring during the COVID-19 pandemic, when a surge in online shopping prompted the company to significantly expand its workforce.

 

Reuters

Pfizer is to cut around 330 jobs at its Sicily plant following unsuccessful talks in Rome between the U.S. drugmaker and Italy's ​industry ministry, the CGIL, CISL and ⁠UIL labor unions have said. The industry ministry said "the points raised during the meeting serve as a ​starting point for strengthening the dialogue." Industry minister Adolfo Urso plans to visit the plant ‌on ⁠October 23, and further talks are scheduled for November 10.

 

Reuters

PepsiCo is facing growing pressure to deliver on growth and profitability targets established following activist investor Elliott Investment Management's roughly $4bn investment last year. The company is struggling with declining North American sales volumes, rising costs, and changing consumer preferences, particularly as GLP-1 weight-loss drugs encourage healthier eating habits. Despite cutting prices by up to 15% on selected snacks and introducing healthier products, including Doritos Protein and SunChips Fiber, PepsiCo's core operating margin fell 15 basis points to 16.3% in the first half of 2026. This contrasts with its target of a 100-basis-point improvement over three years. PepsiCo shares have declined nearly 12% this year, reflecting investor concerns about weakening demand and profitability. Analysts expect third-quarter revenue to rise 4.3% to $24.96bn, with adjusted earnings of approximately $2.29 per share. Investors will be watching for signs of recovering sales volumes, stronger pricing power, and improved margins.

 

Reuters

Workers at Micron Technology's plant in Taiwan have voted overwhelmingly to strike after failed negotiations over bonus reforms. The union reported that 1,994 out of 2,258 eligible members supported the strike. Workers are demanding a one-off bonus equivalent to 83 months' salary and a system allocating 15% of operating profits for quarterly bonuses. Micron's previous offer of up to 68 months' pay was deemed insufficient. The Taichung union will continue negotiations despite the strike at the Taoyuan site, where the union has secured the right to establish picket lines.

 

France 24

Procrastination significantly impacts students' academic performance, according to a U.S. study involving over 65,000 young people. Nearly 50% of respondents identified procrastination as a major barrier to their studies, surpassing issues including depression and anxiety. The study warns of a situation where procrastination leads to stress, sleep issues, and further procrastination. Itamar Shatz, the study's author, said: "Pretty much all of us procrastinate, but it's not a huge impediment for all of us. For the people that it is, it can be huge . . . It's an obstacle that can interfere with academic success, with success in the workplace, it can cause issues in relationships, it can cause stress, it can cause health issues and stop us reaching out for help."

 

The Guardian