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Finance leaders from Hewlett Packard Enterprise, Prologis, Moody's, and J.M. Smucker said companies must invest far more in employee training if they want to realize the full benefits of artificial intelligence. Speaking during a Fortune webinar, executives argued that while organizations are spending heavily on AI infrastructure and data, they are underinvesting in the people who must use the technology. Deloitte said its research found that 93% of AI spending is directed toward technology and infrastructure, with only 7% allocated to employee enablement, creating a growing gap between technological capability and workforce readiness. The CFOs said the finance function is evolving beyond traditional reporting toward a more strategic role, with AI automating routine tasks and freeing teams to focus on business insights and decision-making. They highlighted curiosity, adaptability, critical thinking, communication, and AI literacy as increasingly important skills, while emphasizing that successful AI adoption depends on helping employees embrace new ways of working. 

 

Fortune

Women chief compliance officers (CCOs) now report higher median total compensation than their male counterparts, according to BarkerGilmore's 2026 Chief Compliance Officer Compensation Report. Female CCOs earned average total compensation of approximately $530,000, compared with $495,000 for men, reflecting continued progress in representation and pay across compliance leadership roles. Compensation also increased significantly with company size, reaching median total compensation of $638,000 at public companies and $771,000 at private companies with more than $5bn in revenue. While compensation remains the leading reason CCOs change jobs, it is closely followed by the desire for new challenges, leadership alignment, career development, and cultural fit. Despite continued demand for experienced compliance executives, 62% of respondents said they were unlikely to seek a new role, highlighting a constrained talent market. The findings are based on a survey of more than 250 U.S. chief compliance officers.

 

Canadian Lawyer

Chief executive pay at major U.S. companies reached record levels in 2025, with median compensation for S&P 500 CEOs rising to $17.9m, according to analysis. Nearly a dozen chief executives received packages worth more than $200m, while the number earning over $100m reached a four-year high.

 

The Wall Street Journal

The Wall Street Journal reports that some employers are cutting back on junior hiring because widespread remote work is making young talent a less attractive value proposition. Researchers from the London School of Economics, who recently observed that the amount of hiring devoted to entry-level roles across some countries has fallen more than 14% since 2019, said the return-on-investment after the hiring of an entry-level worker is dependent on the rate at which that young employee learns. Since remote work slows that process, employers prefer to invest instead in older workers, the researchers argue. “The implication is stark . . . A persistent contraction of this kind hollows out the pipeline of future experienced workers, causing declines in aggregate productivity as well as imposing cohort-specific scarring,” they wrote. 

 

Wall Street Journal

Consulting firms are increasingly moving away from traditional hourly billing as artificial intelligence (AI) reduces the time needed to complete work, prompting a shift toward fixed-fee and outcome-based pricing models. While firms including McKinsey are expanding pricing tied to client results, the transition has proven challenging because it introduces greater financial risk, cash flow uncertainty, and new expectations around measuring value. Industry experts also say firms that continue relying on billable hours risk eroding margins as AI automates more routine work. Big Four accounting firms may face a slower transition due to regulatory constraints on audit services and partner compensation models, although some firms are already encouraging employees to focus on AI-driven efficiencies rather than billable hours. Industry observers say success will depend on firms reshaping their business models and culture to compete in an AI-driven market.

 

Wall Street Journal

The National Association of Insurance Commissioners (NAIC) has suspended its risk designations on the investments of insurers, after a cyber attack compromised data from rating agencies including Moody’s and S&P. Insurance Business says the suspension is more consequential than a routine processing pause because these ratings and designations sit at the center of U.S. insurance capital rules. NAIC said it was “actively working with an external cybersecurity partner to compare the scope and type of data the group posted with our own analysis.” The support organization for state insurance regulators said a complete assessment will take “at least several weeks.” 

 

Financial Times

Insurance Business

Insurance Journal

The International Monetary Fund (IMF) said the U.S. economy continues to demonstrate solid growth momentum and endorsed the Federal Reserve's decision to keep interest rates unchanged, while emphasizing that any future policy moves should be guided carefully by incoming economic data. IMF spokesperson Julie Kozack highlighted revised first-quarter GDP growth of 2.1% on an annualized basis, up from the previously reported 1.6%, citing a rebound in government spending, strong investment, and high labor productivity as signs of the U.S. economy's resilience. She said inflation remains above the Fed's 2% target but is expected to gradually ease, reaching that objective by the end of 2027. Ms. Kozack also welcomed the commitment of new Federal Reserve Chair Kevin Warsh to maintaining price stability, saying the central bank's decision to hold rates steady last week was appropriate given current economic conditions. She added that any future adjustments to monetary policy should be made cautiously and calibrated to evolving economic data.

 

Reuters

The U.S. goods trade deficit widened sharply in May to its highest level in 14 months as businesses increased imports to guard against supply disruptions and higher costs linked to the Middle East conflict, adding to concerns that trade will weigh on second-quarter economic growth. The Commerce Department reported that the goods trade deficit jumped 27.4% to $105.8bn in May, well above economists' expectations of $85bn and the largest deficit since March 2025. Goods imports rose 3.6% to a 14-month high of $313.4bn, while exports fell 5.4% to $207.7bn. The increase in imports was led by a 6.3% rise in automotive vehicles and a 5.7% gain in consumer goods. Imports of industrial supplies climbed 4.8%, capital goods increased 0.4%, and were up 41.9% year over year, reflecting continued investment in artificial intelligence-related equipment. Meanwhile, exports declined across most categories, with consumer goods down 9.2%, industrial supplies falling 7.0%, and capital goods decreasing 5.0%. Food, feed, and beverage exports rose 3.9%, while automotive exports edged up 0.5%.

 

Reuters

U.S. wholesale inventories increased for the fourth consecutive month in May, rising 0.3% month over month to $943.9 billion, according to the U.S. Census Bureau. The increase followed a revised 0.7% gain in April and exceeded economists' expectations for a 0.2% rise. Although inventories continued to grow, the pace of expansion moderated from March, which recorded the strongest monthly increase since August 2022. Durable goods inventories rose 0.3% in May, slowing from a 0.9% increase in April, while non-durable goods inventories advanced 0.5%, accelerating from a 0.3% gain the previous month. On a year-over-year basis, wholesale inventories were 4.3% higher, indicating continued stock accumulation despite a gradual slowdown in monthly growth.

 

ShareCast

U.S. consumer sentiment improved in June from record lows, although households remained concerned about the high cost of living and elevated inflation, according to the University of Michigan's latest Surveys of Consumers. The Consumer Sentiment Index rose to a final reading of 49.5 in June from 44.8 in May, slightly above the preliminary June reading of 48.9 but below economists' forecast of 50.0. Joanne Hsu, director of the Surveys of Consumers, said the cost of living continues to weigh heavily on households, with more than half of respondents citing high prices as a strain on their personal finances for the third consecutive month. Consumers' one-year inflation expectations eased to 4.6% from 4.8% in May, while five-year inflation expectations fell to 3.3% from 3.9%, indicating some improvement in longer-term inflation outlooks despite ongoing concerns about prices.

 

Bloomberg

Reuters

U.S. consumers spent a record $26.4bn during Amazon's four-day Prime Day event, up 9.3% year-on-year, as shoppers took advantage of discounts on electronics, appliances, toys and everyday essentials. Analysts said strong promotions and larger tax refunds helped support demand for higher-ticket discretionary purchases, while many consumers also stocked up on back-to-school items and household necessities. Discount levels were broadly unchanged from last year, leading analysts to suggest retailers may need to maintain aggressive promotional activity through the holiday season as consumers continue to seek bargains amid persistent inflationary pressures.

 

Reuters

The Bank for International Settlements (BIS) has warned that high AI spending by tech giants could trigger an investment bust, destabilising markets if financial returns underperform expectations. Record-high public debt across key economies was also a concern, along with stubborn inflation and oversight of non-bank financial firms. The BIS said economic activity had remained resilient in recent months, but policymakers must act decisively to preserve stability. "Policy actions must reinforce each other to avoid a pull and push on the global economy. Ultimately, ​success depends on sound fiscal and financial foundations," BIS General Manager Pablo Hernandez de Cos said.

 

Financial Times

Reuters

The Daily Telegraph

U.S. solar developers are racing to secure federal tax credits before a July 4th deadline that accelerates the phaseout of renewable energy subsidies under President Donald Trump's 2025 tax law, creating a pipeline of more than 200 gigawatts of eligible solar projects, nearly enough to double the nation's current solar capacity. Industry analysts estimate that losing the tax credits, worth at least 30% of project costs, could increase wind and solar contract prices by 40% to 50%, with some Texas projects already seeing price increases of up to 120%. Developers have moved quickly to preserve eligibility by beginning construction, purchasing equipment, or meeting other federal "safe harbor" requirements before the deadline. Despite the higher costs, developers say utility-scale solar is expected to remain competitive as electricity demand, driven by artificial intelligence and data centers, continues to grow. However, analysts warn that buyers unable to secure projects eligible for existing tax credits are likely to face significantly higher renewable energy prices in the years ahead.

 

Reuters

China's National Audit Office has criticized several state-owned financial institutions for tax avoidance and compliance failures, including finding that the Bank of China avoided paying 2.37bn yuan ($348.4m) in taxes by improperly using preferential tax treatment intended for public mutual funds. The audit found that, between April 2023 and August 2025, the Bank of China structured 11 privately offered funds to appear as public funds by routing investments through affiliated companies and enrolling employees as nominal investors. The report also cited the Agricultural Bank of China for issuing 11.07bn yuan in loans to non-compliant farmland projects, with some funds later diverted to wealth management products and debt repayment, while China Everbright Group was criticized for weak oversight of subsidiaries and the unauthorized use of its brand.

 

The Accountant Online

Manager Magazin has reported that Volkswagen chief executive Oliver Blume aims to cut up ​to 100,000 jobs worldwide and discontinue production at four of the group's German plants, as he seeks to reduce investment ​by around 15% to just over €130bn ($148bn) over the next ​five years. "The entire group, including its brands and subsidiaries, must undergo far-reaching change," a Volkswagen spokesperson said.

 

Reuters

The U.K.'s Competition Appeal Tribunal has given the go-ahead to a £3bn ($4bn) lawsuit against Apple over its iCloud storage service, clearing the way for tens of millions of consumers ​to join a class action. UK consumer group Which? filed the claim in November 2024. It argues that the U.S. tech giant ​abused a dominant position by "trapping" users of iPhones and other devices into its iCloud storage service, limiting their ability to switch to rival providers. "Which? wants to make clear that no company, no matter how powerful, can get away with abusing its position," said Which? CEO Anabel Hoult. A trial is expected in 2028.

 

Reuters