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As artificial intelligence (AI) becomes embedded in financial workflows, chief financial officers are increasingly responsible for ensuring the integrity, transparency and auditability of AI-driven decisions, according to a new analysis. While AI can improve forecasting, automation and efficiency, finance leaders must ensure systems are explainable, governed by strong data controls and compliant with accounting standards, particularly as many experienced professionals retire and teams adopt more automation. The article argues that successful AI use in finance will depend on clear governance, traceable decision processes and strong data quality, with human oversight remaining essential for accountability.

 

ERP Today

Block’s decision to lay off about 4,000 employees - roughly 40% of its workforce - is part of a long-term shift toward an artificial intelligence (AI)-driven operating model, according to chief financial officer and chief operating officer Amrita Ahuja. Despite strong financial performance, including $2.9bn in fourth-quarter gross profit (up 24% year over year), the company concluded it could operate effectively with around 60% of its previous staff after integrating artificial intelligence into its workflows. Over the past two years, Block developed an internal AI agent called “goose” that automates tasks, accelerates software development and streamlines operations. The company believes an AI-native workforce can deliver higher productivity than a larger traditional workforce, and it has even raised its 2026 outlook while cutting jobs. Ahuja said the remaining workforce will be reskilled to work alongside AI tools, reflecting a broader shift in knowledge-heavy industries where technologies like generative AI can significantly boost productivity - though experts warn the tools are most effective when paired with human judgment.

 

Fortune

Simon & Schuster has named Greg Greeley, a former Amazon executive and Airbnb leader, as its new chief executive, effective immediately. The publisher’s owner, KKR, said Greeley’s experience across digital and traditional markets will help guide the company as the book industry faces growing competition from social media, streaming and other entertainment platforms. Greeley replaces Jonathan Karp, who stepped down to launch a new imprint, and said one of his key challenges will be navigating the impact of artificial intelligence and changing consumer attention on the publishing business.

 

Wall Street Journal

The Trump administration's changes to the U.S. visa system for highly skilled immigrants are set to be tested with the upcoming H-1B lottery. This year, sponsors must pay a $100,000 fee, which is expected to disadvantage IT consulting firms that have previously dominated the visa allocation. “This is going to be a bit of a sea change,” observed Peter Bendor-Samuel, the executive chairman of global research firm Everest Group, which works with companies that routinely use the H-1B program. Companies such as Cognizant have already reduced their reliance on H-1Bs, while others are prioritizing hiring immigrants already in the U.S. Hiba Anver, a partner with Erickson Immigration Group, said: “There are several changes that taken collectively will diminish the tech industry's ability to attract and retain key talent . . . [this] will result in a smaller talent pool for tech companies.”

 

Los Angeles Times

The U.S. economy lost 92,000 jobs in February, a sharp miss compared with economists’ expectations for a 50,000 increase and a reversal from January’s gain of 126,000 jobs, according to the Labor Department. The unemployment rate rose slightly to 4.4%, signaling broader weakness across the labor market. Job losses were spread across multiple sectors, including leisure and hospitality down 27,000, healthcare and social assistanc,e down 18,600, manufacturing, down 12,000, and construction, down 11,000. A large healthcare strike also contributed to the decline in that sector. Jefferies economist Thomas Simons called the report “a perfect storm of temporary drags coming together following an above-trend print in January," adding: “We do not think that this is a harbinger of progressively worse jobs prints coming down the road, but the risk of a downturn has certainly increased.”

 

The Hill

CNBC

New York Times

Wall Street Journal

U.S. retail sales fell 0.2% in January to $733.5bn, according to the Commerce Department, continuing a weak trend in consumer spending since late 2025. The decline was smaller than economists’ expectations for a 0.4% drop but followed flat sales in December. The downturn was largely driven by a 0.9% drop in motor vehicle and parts sales. Excluding auto dealers and gas stations, retail sales actually rose 0.3%, with gains at general merchandise stores, up 0.4% and online retailers, up 1.9%. Economists are watching closely for signs of strain among consumers, who have been spending faster than their incomes have grown, reducing savings. With a weak February jobs report and rising unemployment, some analysts warn that households may soon cut back spending, posing risks for the consumer-driven U.S. economy.  

 

CNN

Bloomberg

Wall Street Journal

U.S. business inventories rose 0.1% in December after remaining unchanged in November, according to the Commerce Department, reflecting a modest rebound in retail stock levels. The increase matched economists’ expectations. Retail inventories grew 0.1% after falling 0.4% in November, while wholesale inventories increased 0.2% and manufacturer inventories rose 0.1%. Overall inventories were 1.6% higher than a year earlier. Business sales also improved, rising 0.5% in December, following a 0.6% increase in November. At the current sales pace, it would take businesses about 1.36 months to clear inventories, slightly down from 1.37 months the previous month. The inventory gains contributed 0.21 percentage points to fourth-quarter GDP growth, which was reported at a 1.4% annualized rate.

 

Reuters

Live Nation has reached a settlement with the U.S. Department of Justice in a federal antitrust lawsuit accusing the company of monopolizing the live concert industry. The deal, which still requires court approval, will allow the concerts and ticketing giant to avoid being broken up but will limit its use of exclusive ticketing contracts and make it easier for rival promoters to compete at venues it controls. While around 10 states have agreed to the settlement framework, others may continue pursuing separate legal action against the company.

 

Politico

Wall Street Journal

Anthropic chief executive Dario Amodei has apologized for a leaked memo in which he questioned the Trump administration’s motives for declaring his artificial-intelligence company a supply-chain risk and severing its government relationships, but said he would challenge the designation in court as not legally tenable. It is one of the first times the supply-chain risk designation has been applied to a U.S. company. The memo that was leaked last week said the White House was targeting the company because it hasn’t “given dictator-style praise” to President Trump. 

 

The Economist

Wall Street Journal

The Financial Crimes Enforcement Network (FinCEN) has fined Canaccord Genuity $80m for wilful violations of the Bank Secrecy Act, marking the largest penalty ever issued against a broker-dealer for breaches of the US anti-money laundering law. Investigators said that between 2019 and ⁠2022, Canaccord failed to file at least 160 suspicious activity reports covering thousands of ​questionable transactions, with some activity that deserved "red flags" going un-reviewed for months or years. "Today's action should be a wake-up call to broker-dealers that willfully fail to comply with their obligations to safeguard the financial system from illicit actors," FinCEN Director Andrea Gacki said.

 

InvestmentNews

Reuters

Western Alliance has sued investment bank Jefferies, alleging breach of contract and fraud over loans tied to the collapse of auto parts supplier First Brands. The Phoenix-based lender said it filed a complaint in the ‌New York Supreme Court against Jefferies and others for "breach of contract and fraud" for "conduct related to a commercial loan collateralized by accounts receivable purchased from First Brands Group." Western Alliance CEO Kenneth Vecchione said: "I can't tell you what's behind Jefferies' motive . . . We are deeply disappointed by Jefferies' conduct." In response, Jefferies said: "We regret that the Bank, as well as a range ​of lenders to and around First Brands, will suffer losses as a result of this fraud. We believe that the lawsuit is without merit and it ​will be defended vigorously."

 

Financial Times

Reuters

Wall Street Journal

The Supreme Court has unanimously ruled that New Jersey Transit is not an arm of the state, and so it is not protected by sovereign immunity from lawsuits in other states. “States are generally entitled to immunity from being sued in another State's courts without their consent,” Justice Sonia Sotomayor wrote. “That sovereign immunity is personal to the State and thus extends only to arms of the State itself.” The decision arose from two consolidated personal injury lawsuits against NJ Transit for accidents occurring outside New Jersey. The ruling reversed a Pennsylvania Supreme Court decision and affirmed a New York Court of Appeals ruling that NJ Transit can be sued in New York. The attorney for the plaintiffs, Michael B. Kimberly, criticized NJ Transit’s legal structure as a “mishmash” that does not qualify for sovereign immunity.

 

NJ.com

The 2026 FIFA World Cup, hosted by the U.S., Canada, and Mexico, will feature 48 teams and presents significant tax and social security challenges for players, coaches, and support staff. As noted by Daida Hadzic and Rob Fagan from KPMG, "Understanding and addressing the intricate cross-border financial and regulatory issues will ensure a smooth and compliant tournament." Participants may face multiple tax obligations in host countries, with varying rules on income classification. The complexities of double taxation treaties (DTAs) and state-level tax implications further complicate compliance. Proactive planning and expert advice are essential for teams and federations to navigate these challenges effectively, ensuring that the focus remains on the tournament rather than administrative burdens.

 

Bloomberg Tax

The Trump administration has drawn up strict rules for civilian AI contracts requiring companies to allow "any lawful" use ​of their models amid a stand-off between the Pentagon and Anthropic, ‌the Financial Times has reported. The Pentagon had on Thursday designated Anthropic as a "supply chain risk," prohibiting government contractors from using the AI firm's technology in work for the U.S. military. A draft of new government guidelines from the General Services Administration mandates that AI groups that want to do business with the government grant the U.S. an irrevocable licence to use their systems for all legal purposes.

 

Financial Times

Reuters

Activist investor Starboard Value has taken a significant stake in Lamb Weston, one of the world’s largest producers of frozen potato products, and is pushing the company to accelerate cost-cutting and operational improvements to boost its underperforming share price. Starboard said the business is undervalued but needs greater urgency in executing its turnaround, including potentially selling its Asia-Pacific operations, as the company works to recover from weaker demand, rising costs and recent share price declines.

 

Wall Street Journal

BDO USA has appointed Steven Winter as tax managing principal for its East region. In the role, Mr. Winter will oversee strategic development, operational performance, and collaboration across the firm’s tax operations, with a focus on quality and talent management.

 

Crain's New York Business

Nasdaq has partnered with crypto exchange Kraken to develop a platform for tokenized versions of stocks and exchange-traded products, aiming to enable blockchain-based trading with the same governance rights as traditional shares. The framework, expected to launch in early 2027 pending regulatory approval, could support 24/7 trading, faster settlement and automated corporate actions such as dividend payments and proxy voting, as Wall Street firms increasingly explore tokenization to modernize financial markets.

 

Wall Street Journal