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Writing for Reuters, attorney Ola M. Tucker emphasizes that financial institutions must prioritize plain-language compliance writing and responsible use of artificial intelligence (AI) to reduce regulatory risk. Effective compliance programs require clear, actionable documentation that employees can understand and implement - especially under increasing regulatory scrutiny. Recent enforcement actions, such as the $1.3bn fine against TD Bank, highlight the cost of unclear policies and poorly implemented controls. While AI can aid in drafting compliance documents, regulators stress that legal accountability remains with the institution. AI tools must be used under strict governance, including legal oversight and operational testing, to avoid inaccuracies or noncompliance. Ultimately, institutions are advised to treat compliance writing as a critical operational control - using AI to support, not replace, professional judgment.

 

Reuters

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Former Citigroup managing director Julia Carreon is suing the bank over claims its human resources department pushed her out after she was sexually harassed by Andy Sieg, who oversees the bank's wealth management unit and is one of Citigroup's top executives. Ms. Carreon, who left the bank in August 2024, claimed in the lawsuit that the lender’s “weaponized” HR department sought to force her out. “With the help of HR and Citi’s discriminatory and sexually harassing culture, Mr. Sieg poisoned Ms. Carreon’s reputation within Citi and ultimately forced her to leave the firm,” the complaint said. Citigroup said in a statement: “This lawsuit has absolutely no merit and we will demonstrate that through the legal process.”

 

Bloomberg

Financial Times

Investment News

Reuters

Wall Street Journal

U.S. durable goods orders rose 5.3% in November, the strongest increase in six months, driven by a sharp pickup in bookings for commercial aircraft and other business equipment, according to delayed Commerce Department data released after the federal shutdown. A key measure of business investment - core capital goods orders (excluding aircraft and defence) - increased 0.7%, beating expectations and signalling firmer underlying demand for equipment. Core shipments, a closer proxy for near-term business spending, also rose 0.4%. While headline aircraft orders are volatile, the report showed broadly higher demand across categories including communications equipment, computers, machinery, and electrical equipment, supporting the view that investment momentum strengthened heading into 2026.

 

Bloomberg

Nasdaq

In an open letter coordinated by the Minnesota Chamber of Commerce, chief executives from some of the state’s largest employers have called on federal, state and local officials to pull back from further confrontation following the fatal shooting of ICU nurse Alex Pretti by federal immigration agents in Minneapolis, and work together on a negotiated solution. The letter was signed by top executives of Minnesota’s largest companies and large hospital systems, including Land O’ Lakes, Hormel, U.S. Bancorp, Mayo Clinic and 3M. “Every CEO . . . they want to have a peaceful environment for their employees,” said Bill George, the former chief executive of Medtronic, whose current chief signed the letter. “The larger issue for CEOs,” George added, is that the unrest in Minneapolis “is going to have a very negative effect on their growth, on their innovation and particularly their ability to recruit people from around the country and around the world.”

 

New York Times

The U.S. Treasury Department has terminated its contracts with Booz Allen Hamilton following the imprisonment of former contractor Charles Edward Littlejohn for leaking tax information about wealthy individuals, including Donald Trump. Mr. Littlejohn, sentenced to five years in prison, provided sensitive data to The New York Times and ProPublica, which prosecutors described as “unparalleled in the IRS's history.” Treasury Secretary Scott Bessent said that Booz Allen “failed to implement adequate safeguards to protect sensitive data.” The agency had 31 contracts with Booz Allen Hamilton, amounting to $4.8m in annual spending and $21m in total obligations.

 

CNN	US News and World Report

Nike is to lay off around 775 workers, principally at its distribution centers in Tennessee and Mississippi. “We are sharpening our supply-chain footprint, accelerating the use of advanced technology and automation, and investing in the skills our teams need for the future”, the company said in a statement, adding that the cuts "are designed to reduce complexity, improve flexibility, and build a more responsive, resilient, responsible, and efficient operation". In other Nike news, the company is investigating a potential data breach, after ransomware group World Leaks claimed that it had published 1.4 terabytes of data from the sportswear giant. "We always take consumer privacy and data security very seriously", Nike said in a statement. "We are investigating a potential cyber security incident and are actively assessing the situation".

 

CNBC

The Oregonian

Reuters

Wall Street Journal

TikTok's newly formed U.S. entity is grappling with an infrastructure failure caused by a power outage at its data center, affecting millions of users who experienced difficulties posting videos and accessing their feeds. The TikTok USDS Joint Venture LLC, established just a week ago to manage content algorithms and data security, is actively working to resolve the issues, with user complaints reportedly subsiding. "We’re working to stabilize the platform," the joint venture stated.

 

Bloomberg

Ford and General Motors are negotiating a financing arrangement for First Brands Group as the bankrupt car-parts supplier races to raise additional money in order to buy time to sell itself.

 

Financial Times

Around 31,000 registered nurses and healthcare professionals are on strike at Kaiser Permanente's facilities in California and Hawaii. The United Nurses Associations of California/Union of Health Care Professionals (UNAC/UHCP) has accused Kaiser management of undermining contract negotiations and intimidating workers. The strike will impact over two dozen hospitals and hundreds of clinics. Kaiser said it has been negotiating for over seven months and noted that not all unions are participating in the strike. UNAC/UHCP previously filed a charge against Kaiser for unfair labour practices.

 

U.S. News

Starbucks chief executive Brian Niccol has undertaken a sweeping overhaul of the coffee giant in his first full year, aiming to improve customer experience, streamline operations, and reinvigorate the brand. Changes include extensive barista training, the return of ceramic mugs, limiting bathroom access to paying customers, and introducing new store designs and seating. Mr. Niccol also emphasized faster service, better food availability, and more personalized customer interactions, such as thoughtful messages on cups. Despite closing 400 U.S. locations, he is set to unveil his long-term financial strategy soon and maintains regular contact with former CEO Howard Schultz, as he steers Starbucks through a critical period of transformation.

 

Wall Street Journal

Kristalina Georgieva, managing director of the International Monetary Fund, has warned that unregulated AI could lead to job losses and societal issues. She suggested that the technology "is transforming our world faster than we are getting ahead of it." Ms. Georgieva warned of a "tsunami" that will see jobs transformed or eliminated, suggesting that "the stakes go beyond economics. Work brings dignity and purpose to people's lives. That's what makes the AI transformation so consequential." Meanwhile, Erik Brynjolfsson, director of Stanford's digital economy lab, says analysis shows that U.S. workers aged 22-25 are already experiencing AI-related job losses, especially in sectors where AI "automates rather than augments labor."

 

The Guardian

President Donald Trump and congressional Republicans have engineered a $100bn boost in tax refunds for 2026, aiming to win voter favor ahead of the midterm elections. The surge stems from retroactive provisions in the “One Big Beautiful Bill Act,” which expands tax cuts for middle-income households, tipped workers, and parents, while preserving benefits for high-income earners. The average refund is expected to jump by $1,000. The plan depends on the under-resourced IRS efficiently processing refunds despite staff cuts. While Republicans touted the windfall as a working families tax cut, Democrats criticized the move as a short-term political ploy that disproportionately benefits the wealthy. With the IRS under pressure and public approval of Mr. Trump’s economic leadership shaky, the GOP is banking on larger refunds to translate into electoral support.

 

Wall Street Journal

The recent arctic blast across the United States has led major Bitcoin mining companies to close segments of their operations due to skyrocketing electricity costs. Notably, the hash rate, a measure of computing power essential for creating Bitcoin, plummeted significantly as mining pools FoundryUSA and Luxor reported reductions of over 50% in output during the weekend. This decline in mining efficiency reflects the ongoing challenges posed by power grid strain amid the severe winter weather.

 

Bloomberg