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The Securities and Exchange Commission (SEC) has declined to pursue charges against major asset managers, including BlackRock, Vanguard, and State Street, over their involvement in climate-related shareholder activism ahead of ExxonMobil’s 2021 annual meeting. However, the regulator has warned that participation in coordinated investor campaigns, such as Climate Action 100+, could jeopardize eligibility for simplified, lower-cost ownership disclosures if those activities seek to influence corporate control or board appointments. The SEC has urged large investors to review their reporting obligations ahead of the 2027 proxy season, highlighting the growing regulatory scrutiny of environmental, social, and governance (ESG) engagement. BlackRock, Vanguard, and State Street have already scaled back their climate-related activities amid heightened legal and regulatory concerns.

 

Financial Times

Reuters

Your Vendor's Risk Is Now Your Risk

Third parties are now responsible for more than half of all data breaches, and the regulatory net keeps closing. DORA, GDPR, NYDFS, and a growing list of national frameworks all say the same thing, you cannot outsource liability.

This guide walks through the five principles of modern vendor risk management, the five-stage oversight lifecycle, and the red flags to catch before a vendor relationship becomes a liability.

It is built for risk, compliance, and procurement leaders who need a practical framework, not another static questionnaire that goes stale the moment it is filed.

Get the Guide

 

American Express has been fined $350m by U.S. regulators after significant shortcomings were identified in its anti-money laundering controls, which allegedly resulted in approximately $13bn of suspicious activity going inadequately monitored or reported over the past decade. The Office of the Comptroller of the Currency and Federal Reserve cited insufficient resources, inexperienced staff, inadequate training and weaknesses in internal controls, particularly within the company’s credit card operations. American Express neither admitted nor denied the findings but has committed to strengthening its compliance procedures. Chief executive Stephen Squeri said the company has already made progress in addressing the issues and expects neither the penalty nor additional compliance costs to affect its financial guidance for 2026 or 2027.

 

Financial Times

American Banker

Barron's

Bloomberg

Wells Fargo faces a potential investigation from the Trump administration's housing authority over programs and commitments ​the lender made over nearly a decade to increase homeownership among Black Americans. The probe will look at whether the ​bank violated fair-lending laws by favoring Black or other ⁠minority homeowners, according to a letter from the Department of Housing and Urban Development sent to Wells Fargo CEO ​Charlie Scharf. The Wall Street Journal notes that the potential probe is another instance of corporate America being targeted by the White House for programs that were encouraged during prior administrations, either by the government or socially conscious investors.

 

Wall Street Journal

Starbucks has declined to comment on reports that it is considering a takeover of Chipotle Mexican Grill, describing the discussions as rumors and speculation. According to the Financial Times, the coffee giant has spent several months exploring a potential acquisition of the restaurant chain, previously led from 2018 to 2024 by Starbucks chief executive Brian Niccol. Chipotle shares rose following the report, while Starbucks emphasized its continued focus on its “Back to Starbucks” turnaround strategy, aimed at improving store operations, staffing, and customer experience. Analysts have raised concerns about the potential deal’s size, financing requirements, and execution risks, warning that an acquisition could distract management from its ongoing recovery efforts. Although antitrust scrutiny remains a possibility, legal experts suggest the limited overlap between the companies’ businesses could reduce regulatory obstacles.

 

Bloomberg

Financial Times

Reuters

The Seattle Times

The Federal Communications Commission (FCC) is to vote on October 29 to ban all test labs and certification bodies in countries including China from testing electronic devices such as smartphones, cameras and computers for use ‌in the U.S., unless they offer reciprocal treatment to U.S.-based test labs. "Less than 4% of all electronic devices are tested in labs located inside the U.S.," FCC Chair Brendan Carr said, adding the FCC will "insist on fair and reciprocal treatment in international commerce." Reuters notes that the commission's prohibitions are set to take effect in December 2028.

 

Reuters

A new Reuters/Ipsos survey has found that 84% of voters see AI as ‌a major threat to American jobs, and most do not believe the Trump administration and Congress are taking the risks of the technology seriously enough and want the government to ​write new rules. "The Trump administration’s priority is to ensure there is a booming economy so that ‌workers have ⁠many opportunities and experience limited volatility from any short-term disruptions," a White House official told Reuters when questioned about voters' AI-related employment fears.

 

Reuters

AI-driven changes in productivity, climate resilience and energy constraints are altering potential output and make capacity utilization and price pressures harder to gauge, according to a study from the Bank for International Settlements (BIS) which also identified potential financial stability risks from the technology. BIS researchers Leonardo Gambacorta and Salvatore Polizzi observed: “Ultimately, AI is neither inherently a climate solution nor inherently a climate problem . . . The coming decade will be critical in determining whether AI becomes a force that accelerates the transition to a more sustainable economy or one that intensifies existing environmental pressures.”

 

Bloomberg

Retailer Asos has confirmed that hackers accessed customer information after tricking an employee into sharing login credentials. The attackers, identifying themselves as the Xuanye group, accessed data held on third-party platforms and demanded a ransom, threatening to release stolen information within two weeks. Asos confirmed that customer names and contact details were compromised, but payment card information and account passwords remained secure. The retailer immediately restricted access to affected databases and launched an investigation. U.S. data provider Snowflake, mentioned in the hackers’ message, said it found no evidence of a breach of its systems. Asos reassured customers that its website and app remained safe to use, while shares rose as much as 5.7% on Thursday.

 

The Daily Telegraph

BBC News

City AM

The Guardian

Federal Reserve officials expect another interest rate increase before the end of 2026, although minutes from September's policy meeting suggest there is little urgency to raise rates again in October. Policymakers unanimously supported September's increase, the first in three years, amid persistent inflation driven partly by higher energy prices, tariffs, and AI-related investment. Most officials anticipate one further rate hike this year, with December increasingly viewed as the likely timing. New York Fed President John Williams and Fed Vice Chair Philip Jefferson have both signaled that the central bank can afford to wait for additional economic data. A weaker-than-expected September jobs report, including annual wage growth of 3%, has reinforced expectations of an October pause. Meanwhile, rising Treasury yields have already increased borrowing costs, reducing pressure on the Fed to tighten monetary policy immediately.

 

Bloomberg

CNBC

Wall Street Journal

The Ebola outbreak in Congo is escalating as new hot spots emerge amid minimal support for patients. Over 4,000 deaths have been reported, with more than 70% of new cases arising from unknown contacts. Dr. Jean Kaseya, Africa CDC Director-General, noted that only 23% of expected contacts have been traced. North Kivu province is now the epicenter, accounting for 40% of new cases.  the response on the ground is “chaotic,” said Stephanie Hoffmann, a project coordinator with Doctors Without Borders (MSF). “There is a lack of coordination and organization,” Hoffmann told the Associated Press.

 

U.S. News

Conservative anti-tax organization Club for Growth has petitioned the Federal Communications Commission (FCC) to permit AI-generated political calls to cellphones without obtaining recipients' prior consent ahead of the November 2026 congressional elections. The group, which plans to spend $175m on the midterms, argues that AI-assisted political calls should receive protections comparable to certain automated notifications from banks, delivery services, and healthcare providers. It maintains that the calls should not be classified as robocalls because a human initiates the contact. However, Democratic FCC Commissioner Anna Gomez has warned that approving the petition could expose voters to large volumes of unsolicited AI-generated political messages shortly before Election Day. Consumer advocacy and civil rights organizations have also urged the FCC to reject the request, citing concerns about unwanted calls and consumer protections. The FCC is accepting public comments on the petition until October 19th.

 

Reuters

President Donald Trump has predicted that his administration's new investment accounts for children could reduce support for socialism and communism among younger Americans by encouraging participation in the stock market. Speaking at a White House event, Mr. Tump announced automatic enrollment in the initiative, established under legislation signed in July 2025. The Treasury Department estimates that automatic enrollment will create accounts for more than 60m additional children, while the President said nearly 8m already have accounts. Children born between 2025 and 2028 are eligible for a $1,000 federal contribution, which parents must request. The funds will be invested in low-cost exchange-traded funds, and the accounts will function as traditional individual retirement accounts when beneficiaries turn 18. Treasury Secretary Scott Bessent described the initiative as an opportunity to improve financial literacy, while Senator Ted Cruz (R-TX) said it could encourage a new generation of investors. Mr. Trump's remarks follow Gallup polling showing that 57% of Americans ages 18 to 34 hold favorable views of socialism.

 

ABC News

Bloomberg Tax

The Hill

Washington Post

Taylor Farms has announced plans to indefinitely suspend iceberg lettuce harvesting and processing in central Mexico during the annual cyclospora season, running from May 1st to August 31st, following a major foodborne illness outbreak. The California-based produce supplier, which accounts for approximately 40% of packaged salads sold in the U.S., was linked to an outbreak that infected more than 12,800 people and resulted in two deaths. The company previously halted production at its central Mexico facility, with no reopening date confirmed. The Food and Drug Administration identified cyclospora contamination at two locations in Mexico but could not conclusively determine how the outbreak originated. Taylor Farms has since ended its relationship with an independent grower linked to a positive sample.

 

The Detroit News

Bloomberg

Wall Street Journal