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Multinational CFOs could generate significant efficiency gains by simplifying fragmented trade credit insurance structures, centralizing governance, and shifting administrative tasks to shared service centers. The biggest costs often come not from insurance premiums, but from duplicated back-office processes, manual exception handling, and complex IT systems across local operations. AI and automation could further improve credit decisions, monitoring, claims handling, and transparency, but the article argues that companies must first streamline their underlying insurance and operating models to realize the full benefits.

 

Trade Finance Global

A Supreme Court ruling striking down tariffs imposed under the International Emergency Economic Powers Act has paved the way for roughly $170bn in corporate refunds, giving CFOs an unexpected cash windfall. Companies are deploying the money differently: Walmart has used its roughly $2.9bn refund to lower prices and improve customer service, Elf Beauty has reinvested most of its $53m refund in price cuts and marketing, and Home Depot has used its $730m refund primarily to offset costs and improve margins. Meanwhile, Xerox sold $105m of refund claims for $80m in cash and used much of the proceeds to reduce debt, although companies generally view the refunds as a one-time benefit rather than a lasting improvement to earnings.

 

Bloomberg

Canadian Prime Minister Mark Carney has said Canada will only resume trade negotiations with the Trump administration when the U.S. approaches talks as a genuine economic partner, after Ottawa walked away over last-minute demands it considered unfair and economically damaging. Mr Carney said the proposed terms would have weakened Canadian industries over time and restricted Canada's ability to pursue other trade agreements. President Donald Trump has threatened to raise tariffs on Canadian automobiles, car parts and steel to 50% from January 1st, after around C$28bn ($202bn) of Canadian exports were hit with 50% tariffs over the weekend. Mr Carney said the measures reinforced his view that the U.S. is seeking to undermine major Canadian industries, including automotive and aluminum. Canada is considering potential responses, with Ontario Premier Doug Ford proposing electricity surcharges on U.S. exports, although Mr Carney has stressed a calm approach while leaving further measures open.

 

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Reuters

The Globe and Mail

Global trade volumes rose 2% in June after increasing 0.5% in May, according to the Netherlands Bureau for Economic Policy Analysis, continuing their recovery from disruption caused by the U.S.-Iran war and restrictions on shipping through the Strait of Hormuz. Strong demand for semiconductors and other equipment used in AI data centers has helped support international trade despite higher U.S. tariffs, with Federal Reserve economists estimating that U.S. imports would have fallen 10% in 2025 without the AI investment boom. Export strength has also supported Germany’s economic recovery, while growth across advanced economies accelerated in the second quarter. However, further shipping disruptions and the Trump administration’s planned and threatened tariffs, including potential 50% duties on Canadian automobiles and auto parts, could weigh on global trade during the second half of 2026.

 

Wall Street Journal

The U.S. IPO market is heading toward a record year, with Oura, Inspire Brands, and several data center companies preparing potential listings following SpaceX’s $86bn offering in June. Traditional U.S. IPOs have already raised $137bn in 2026, approaching the $156bn record set in 2021. Smart-ring maker Oura is considering a September or October IPO that could value the company well above the $11bn valuation achieved in its latest funding round. Inspire Brands, the Roark Capital-backed owner of Dunkin’ and Arby’s, is considering an offering in late 2026 or early 2027, although weaker performance among comparable restaurant stocks could result in a lower valuation than investors initially expected. Data center operators Switch and SB Energy, as well as cloud infrastructure company Nscale, are also meeting prospective investors about offerings later this year. Meanwhile, Anthropic could launch an IPO as soon as September or October and raise up to $100bn, which would push total U.S. IPO proceeds comfortably beyond the previous annual record. Investor appetite has been supported by stronger aftermarket performance than during the 2021 IPO boom. Companies that have gone public in 2026 are trading 21% above their offer prices on average, although SpaceX has fallen back to around its IPO price.

 

Wall Street Journal

UPS is set to invest over $2bn in its international, healthcare, and supply chain solutions from 2024 to 2028. Scott Szwast, UPS vice president of international strategy, said: “These investments are really aligned to one of our big strategic areas of focus, which is creating capabilities to enable our customers, particularly in complex industries, to more effectively run their global supply chains.” Key projects include new hubs in the Philippines and Canada, as well as an air hub in Hong Kong by 2028. Additionally, UPS is enhancing its healthcare initiatives with a $48m investment in temperature-controlled facilities to support the shipment of sensitive medications.

 

CNBC

The SEC has reportedly subpoenaed Goldman Sachs, JPMorgan, Citigroup, and Bank of America for information about their dealings with AI-focused hedge fund Situational Awareness, including its trades, leverage, and communications with lenders. The fund, led by former OpenAI researcher Leopold Aschenbrenner, plunged from about $45bn to roughly $10bn in late July after a technology sell-off triggered margin calls and forced it to unwind concentrated, leveraged positions. Citadel subsequently acquired positions at an estimated 10% discount and has since offloaded about 80% of the associated risk. The inquiry, which follows reports that Situational Awareness used leverage of up to 400%, does not indicate that the fund or its lenders have been accused of wrongdoing.

 

CNBC

New York Times

Reuters

Members of the United Auto Workers (UAW) at Deere & Co. have rejected a proposed two-year contract extension, citing concerns over job security and outsourcing. UAW President Shawn Fain said: “The company failed to make an offer that addressed the issues weighing on the minds of our members, especially job security.” Despite Deere's claims that the extension would provide stability, the union is pushing for better terms, especially as the agricultural economy struggles. UAW Vice President Laura Dickerson highlighted the disparity between the company's profits and worker compensation, stating that members “see billions going to shareholders through dividends and stock buybacks.”

 

DesMoines Register.com

The Department of Homeland Security (DHS) has issued a new proposed rule for H-1B visas that would charge a $103,265 fee for all skilled workers seeking to gain employment in the U.S. The plans were announced months after a federal judge voided the administration’s previous attempt to require a $100,000 application fee. The DHS said the two charges rely on different legal authority and cover different petitions. “The proposed H‑1B fee is intended to recover the costs incurred across the federal government to adjudicate, vet, and support lawful immigration programs that otherwise must be funded by taxpayers,” U.S. Citizenship and Immigration Services spokesperson Zach Kahler said.

 

CNN

The Hill

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Politico

Reuters

Private capital group Apollo says it suffered a cyber-attack in July, compromising personal data including names, dates of birth, addresses and social security numbers. The firm said there was no evidence of personal information being used for identity theft or fraud "at this time." Affected individuals whose information was stolen are being offered complimentary ​third-party identity protection and credit monitoring services by the ​firm, ⁠Apollo Global Head Of Human Capital Matthew Breitfelder has said.

 

Reuters

Non-grantor trusts are gaining attention among high-net-worth clients as a way to pursue income tax benefits from charitable giving, qualified small business stock, and other provisions enhanced by the 2025 One Big Beautiful Bill Act. Because these irrevocable trusts are treated as separate taxpayers and do not receive a standard deduction, charitable contributions can offset trust income, while advisers are also exploring their use for qualified small business stock stacking and state and local tax planning. However, specialists caution that changing grantor trusts to non-grantor status requires careful analysis, and assets held outside the grantor’s taxable estate generally do not receive a step-up in cost basis at death and can be difficult to remove from the trust.

 

Accounting Today

KPMG Australia is cutting 387 positions, including 360 employees and 27 partners, equivalent to about 5% of its workforce, as it responds to weaker consulting demand and the fallout from allegations that it misused confidential client information to win business. Revenue fell 1% to A$2.26bn ($1.6bn) in the year through June, while consulting revenue dropped 17% to A$632m, and average equity partner remuneration declined 13%. The firm is also simplifying its structure and aligning its operations more closely with KPMG’s global advisory business. New chief executive John Sams expects difficult market conditions to persist until at least 2028, citing subdued economic growth, AI disruption, reduced government spending on consultants, and the continuing impact of the scandal. KPMG has faced criticism from clients, leadership departures, and regulatory scrutiny over allegations involving confidential information, while several reviews are underway as the firm seeks to rebuild trust.

 

Bloomberg

Reuters

Swiss newspaper NZZ has reported ‌that European Central Bank chief Christine Lagarde could take over the presidency of the World Economic Forum next year. At a recent WEF board meeting near Geneva, Lagarde was reportedly described as a "putative candidate" to lead the organization. Lagarde said last year that she was determined to complete her eight-year presidential term at the ECB, which runs until ​the end of October 2027.

 

Reuters