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The U.S. services sector has recorded slower growth in October, with the Institute for Supply Management (ISM) Purchasing Managers' Index declining to 54.5 from 54.9 in September, slightly below economists' expectations of 54.8. New orders moderated to 55.9 from 59.8, while persistent supply chain disruptions, higher energy costs, and import tariffs continued to pressure businesses. The supplier deliveries index rose to 56.7, indicating further delays, while the prices paid index eased marginally to 73.0, signaling continued inflationary pressures. Services employment improved modestly, with the employment index increasing to 51.4 from 50.1. Despite sustained economic expansion, elevated inflation and weakening household purchasing power could constrain consumer spending. The Federal Reserve has maintained interest rates at 3.75%–4.00%, with economists anticipating a December increase. Meanwhile, October's employment report is expected to show 65,000 additional jobs and an unchanged unemployment rate of 4.2%.

 

Reuters

The sudden collapse of 95-year-old law firm Weil Gotshal has left its roughly 600 associates, and its future summer hires, without jobs. The dissolution of the firm has sent shock waves through the legal job market, and rival firms and headhunters are moving quickly to interview Weil lawyers. “This is a paradigm shift,” observed David Diamond, assistant dean of Northwestern Pritzker School of Law’s Career Strategy Center. “We want to make sure they have all the support they need to get back into the job search quickly.” Evan Fox, a legal headhunter at Long Ridge Partners, said his team has scheduled more than 100 job interviews for Weil lawyers. “This is truly unprecedented,” he said.

 

Wall Street Journal

The Trump administration is said to be preparing to limit workplace accommodations for women related to pregnancy and reproductive health. The proposed moves will scale back the impact of the 2022 Pregnant Workers Fairness Act, which was designed to remedy shortcomings in disability and discrimination protections that employees are guaranteed. It was intended to provide accommodations for pregnant workers, such as bathroom and water breaks, reprieves from heavy lifting, or time off for prenatal appointments. The scope of the regulations under the law has been debated since their drafting.

 

Chicago Tribune

New York Times

Blood banks in France have fallen victim to cyberattacks targeting refrigeration systems. The French Blood Establishment (EFS) said the attacks involved hackers remotely raising temperatures in cold storage units containing blood products, although EFS reported that "no blood products were lost and no health impact was identified." EFS is now collaborating with the French National Cybersecurity Agency (ANSSI) and the Ministry of Health to enhance equipment monitoring. The incident is part of a broader wave of refrigeration-focused cyberattacks affecting supermarkets across Europe, resulting in significant food spoilage.

 

CNBC

3M has agreed to a $7.35bn settlement to resolve longstanding personal injury litigation involving exposure to PFAS, commonly known as "forever chemicals," potentially compensating up to 120,000 claimants. The agreement covers allegations of health problems, including several types of cancer, linked to PFAS-containing firefighting foam. Payments will be distributed over nine years, with 3M recognizing a $5.8bn pretax charge in the fourth quarter of 2026, representing the settlement's present value. Chief executive Bill Brown described the agreement as a significant step toward reducing litigation uncertainty. The settlement follows previous legal actions concerning PFAS contamination, particularly allegations involving drinking water and environmental exposure. 3M began phasing out the chemicals involved in the litigation in 2000 and discontinued all PFAS manufacturing in 2025. 

 

Bloomberg

Wall Street Journal

McDonald’s has appointed law firm White & Case to defend itself against proposed class-action lawsuits alleging that its use of AI-assisted pricing tools violates U.S. antitrust laws. The lawsuits, filed in federal court in Chicago, claim that McDonald’s coordinated menu prices with independent franchisees using algorithms trained on nonpublic data, allegedly resulting in higher prices for consumers. The legal team includes Jack Pace III, co-leader of White & Case’s antitrust and competition practice. The cases follow an October lawsuit and a Reuters investigation into McDonald’s use of AI to guide menu pricing. McDonald’s, which is due to publish its third-quarter earnings later today, has denied any wrongdoing, maintaining that franchisees independently determine their prices and that AI does not directly set menu prices. The litigation adds regulatory and legal scrutiny to the fast-food chain’s use of AI in its pricing strategy.

 

Reuters

Meta has ​built a ‌prototype humanoid robot ​with Chinese ​startup company Fourier ⁠and ​is working ​on a second version, ​The ​Information reports, ⁠citing people familiar with the ​initiative.

 

The Information

The U.S. trade deficit has narrowed by 0.7% to $105bn in September, beating economists' expectations of $107.9bn, as stronger goods exports helped offset rising imports. Commerce Department data showed exports increasing 1.9% to a four-month high, driven by capital goods shipments, while imports rose 1.2%. Imports of capital goods, including computers, semiconductors, and telecommunications equipment, increased by $11.6bn to a record high, reflecting substantial investment in artificial intelligence infrastructure. Meanwhile, industrial supply imports fell by $3.7bn, partly due to reduced crude oil shipments, and services exports reached a new record. Despite the narrower headline deficit, the inflation-adjusted merchandise trade gap widened to $119.5bn, its highest level since March 2025. The U.S. goods trade deficit with Canada also decreased as businesses accelerated shipments ahead of tariffs, highlighting the continuing influence of trade policy and technology investment on international trade flows.

 

Bloomberg

Reuters

Wall Street Journal

CVS Health has announced plans to separate its retail pharmacy business from its insurance and pharmacy-benefit operations, reversing the strategy behind its near-$70bn merger with Aetna a decade ago. The restructuring, which is expected to complete in early 2028, will create two publicly traded companies, with existing shareholders receiving stakes in both. CVS Health, led by current chief executive David Joyner, will retain insurer Aetna, pharmacy-benefit manager Caremark, Oak Street Health, Signify Health and its specialty-drug business. The newly established CVS Pharmacy will operate approximately 9,000 retail pharmacies alongside its mail-order services, MinuteClinic healthcare providers and Health100 digital platform. The separation is intended to improve operational focus and management flexibility, following improvements in Aetna's performance and the stabilisation of retail pharmacy margins.

 

Bloomberg

Financial Times

Reuters

Wall Street Journal

Financial technology company Fiserv has cut its employee and contractor base by ​3,000 since June. Senior management roles have been reduced by more than 10%. "We are ​pursuing a number of initiatives to simplify the organization and operate more efficiently," Fiserv ​said in a statement. Fiserv had more ‌than ⁠38,000 employees worldwide as of December 31, 2025.

 

Reuters

UN experts have said that states and businesses must ensure corporate governance that respects human rights is a core element of implementing the corporate responsibility for human rights. “The effectiveness of the application of the Guiding Principles on Business and Human Rights by companies relies on good corporate governance and executive leadership to ensure that decision-making and corporate culture are aligned with respect for people and the planet, and that these are embedded throughout operations,” said Robert McCorquodale, chair of the Working Group on Business and Human Rights. “Poor corporate governance concerning human rights matters can lead to many human rights abuses, affecting workers, communities and other rights holders. It can also have significant adverse consequences for companies, directors and executives,” McCorquodale said.

 

Jurist

OHCHR

New York State has reported its first measles-related child death in over 30 years amid an ongoing outbreak. The state has declared a State Disaster Emergency and is actively working with local health departments to enhance vaccination efforts. As of late October, New York has identified 178 measles cases this year, with a significant concentration outside New York City. The CDC is providing support through epidemiologists and data analysis.

 

Reuters

Research published in Annals of Internal Medicine has found that people whose long Covid affects multiple body systems are far less likely to improve than overall recovery estimates suggest. About 60% of people whose long Covid was dominated by changes in smell or taste had improved by three years, compared with less than 19% of those with symptoms affecting multiple body systems, according to the study of 1,019 adults who still had probable long Covid a year after their initial infection. 

 

Bloomberg