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Canada has announced C$27.6bn ($19.91bn) of counter-tariffs on U.S. imports in response to President Donald Trump’s latest trade measures, doubling existing duties on American steel and aluminum from 25% to 50% and introducing tariffs of between 15% and 50% on more than 700 other products, including fish, paper, cheese, furniture, clothing, appliances, and machinery. The measures, which take effect on 8 September, are intended to match the latest U.S. tariffs “dollar for dollar” and will cover goods representing around 7.3% of Canada’s total imports from the U.S. Ottawa has also unveiled C$7.5bn of additional support for workers and businesses affected by the escalating trade dispute, including C$1.5bn for small and medium-sized businesses, C$500m in loans, and a new C$2bn fund for companies developing “shovel-ready projects”, alongside C$3.5bn of expanded employment support. The retaliation follows the collapse of recent Canada-U.S. trade negotiations, while Mr Trump has threatened further tariffs on Canadian autos and steel from January.

 

National Post

Toronto Star

Washington Post

Wall Street Journal

U.S. consumer confidence declined in August to its lowest level since the start of the year, as concerns about future business conditions, employment, and incomes outweighed improved perceptions of the current labor market. The Conference Board’s confidence index fell 0.8 points to 89.4, below economists’ median forecast of 90.2, while its expectations measure dropped to the lowest level since January. High gasoline prices, broader cost-of-living pressures, and slower hiring have weighed on households, although consumers’ assessment of present conditions rose to a four-month high, with more respondents saying jobs were plentiful and fewer reporting that jobs were difficult to find.

 

Bloomberg

Reuters

Wall Street Journal

In a 6,000 word essay on the impact of artificial intelligence, Microsoft co-founder Bill Gates has proposed the notion of "human reserved" jobs: occupations or tasks that society would deliberately keep for people even where AI could do them. “I like the phrase human reserved because it makes me think of nature reserves - places where we could put buildings and roads but we choose not to because the loss would be too great,” Gates wrote. “In health, for example, imagine a robot giving you the awful news that you have an incurable disease. There’s no technical reason why it couldn’t. Yet it shouldn’t.” He warned that “many jobs will disappear forever” but policymakers could “set aside certain things for only people to do.”

 

Axios

Financial Times

New York Times

Deloitte is to pay $21.5m ‌to settle U.S. Department of Justice claims that it discriminated against employees and job applicants on the basis of race or sex. Associate Attorney General Stanley Woodward said the settlement was another example of how the DOJ was “eliminating woke, unconstitutional practices from American workplaces,” adding: “Merit drives opportunity and promotion. Not someone’s sex or race.” The department said that business units within the audit giant received monthly summaries tracking "demographic goals" and alleged ‌that ⁠Deloitte's Partners, Principals and Managing Directors were evaluated, in part, based on their contributions to helping the firm achieve its workforce composition goals. In a statement, Deloitte said it was pleased to have resolved the matter “to avoid the cost and distraction of protracted litigation.”

 

USA Today

Reuters

Wall Street Journal

Bankrupt Spirit Airlines sold millions of employee messages and internal files to Google for $10m, in a deal that provided the tech giant with real-world data for AI training. But the purchase of the data is opposed by flight attendants, who say that privacy protections attached to the transaction do not adequately cover sensitive information. The Association of Flight Attendants-CWA, which represents flight attendants nationwide, has filed an objection in the U.S. Bankruptcy Court for the Southern District of New York. Google, which disputes the data risk, told Fortune that there will be no personal identifying information that is of concern included in the data obtained by Google. “We acquired part of an enterprise dataset from Spirit Airlines, which can be helpful in improving our products and AI models,” A Google spokesperson told Fortune. “We will not receive any personal information from this dataset.”

 

Fortune

The Jerusalem Post

The Trump administration has paused all U.S. immigrant visa applications as the state department moves to tighten restrictions and limit access to applicants who it deems could become dependent on U.S. public benefits. A U.S. State ​Department spokesperson said that it had launched a global training initiative at ​all U.S. embassies and consulates worldwide and that appointments for visa services ⁠will be adjusted to accommodate the training. The department said the “in-depth training” for consular officers aimed to help them screen out applicants deemed likely to end up relying on U.S. assistance and to ensure the evaluation of visa applicants "comprehensively and consistently."

 

Financial Times

Reuters

The Guardian

Intuit expects revenue growth to slow to 9% to 10% in fiscal 2027, from 14% this year, below Wall Street’s forecast of roughly 11%, as declines in its desktop business and Mailchimp performance weigh on its outlook. The company plans to invest in attracting new TurboTax users, particularly customers with adjusted gross incomes around $50,000, potentially through free offerings that could hurt its tax DIY business in the short term but create opportunities to sell additional services later. Intuit also continues to invest in becoming an AI-first platform after announcing plans in May to cut 17% of its workforce and redirect the savings toward strategic initiatives. Fourth-quarter revenue increased 14% to $4.35bn, while profit declined to $363m from $381m a year earlier, with global business solutions and consumer revenue both growing 14%.

 

Reuters

Wall Street Journal

Alabama has launched an investigation into OpenAI after its models hacked ​technology company Hugging Face last month. In a 14-page order, state attorney general Steve Marshall ordered the ChatGPT maker to hand over internal records about the incident, along with other material, including the identity of every employee involved in the intrusion or in the testing that precipitated it. A multi-state coalition, including Alabama, sent ​a letter earlier this month to OpenAI demanding transparency and accountability regarding the incident.

 

ABS-CBN

Reuters

IRS chief executive Frank Bisignano has met with tax professionals at the IRS Nationwide Tax Forum in New York City, held from August 18th-20th. The event aimed to enhance engagement between the IRS and taxpayers. Bisignano emphasized the importance of feedback from tax practitioners, saying: “The input and feedback that the IRS receives from tax practitioners improves the tax collection and administration process.” The forum also covered topics such as the implementation of the Trump Accounts and expectations for the upcoming filing seasons. Orumé Hays, president-elect of the New York Society of Certified Public Accountants, highlighted the benefits of collaboration with the IRS, noting it fosters open communication and mutual understanding. The IRS reported processing over 144m income tax returns during the 2026 filing season, with 98% of refunds delivered electronically. National Taxpayer Advocate Erin Collins credited the IRS's technology improvements for the success of the tax season, saying: “The IRS has been improving its technology year by year.”

 

CPA Practice Advisor

China's top legislature introduced a draft Anti-Cross-Border Corruption Law during the 24th session of the Standing Committee of the 14th National People's Congress. The law aims to enhance China's anti-graft legal framework internationally. It seeks to address issues including evidence collection and asset repatriation related to offshore financial crimes. According to state news agency Xinhua, the law, which codifies ten years of anti-corruption practices, will enrich the legal toolbox for handling foreign-related corruption cases and protect national interests. Chinese media outlet Caixin had earlier reported that the law will govern “compliance management and jurisdictional and procedural issues involving Chinese companies’ overseas branches and foreign businesses’ branches in China.”

 

Bloomberg

South China Morning Post

Jens Weidmann, Commerzbank's supervisory board chair, has urged a review of Germany's takeover rules, telling Sueddeutsche Zeitung that UniCredit was able to ​secure control of the German lender without offering shareholders an adequate ‌premium. Weidmann said the Italian bank had been able to obtain a ​majority despite making what he described as a financially unattractive ​offer. "That raises questions about takeover law in Germany, which lawmakers may ‌want ⁠to examine," Weidmann ​said. Of ⁠the roughly 73% of Commerzbank shares that could have been ​tendered to UniCredit, fewer than 18% were tendered, he told the newspaper.

 

Reuters

Brazil's data protection regulator has imposed a fine of over 153 million reais (approximately $30m) on TikTok's parent company, ByteDance, for alleged violations in handling the personal data of minors. The ruling said that TikTok breached data privacy laws by collecting and processing young users' information without a valid legal basis or adequate safeguards. The company has 10 days to appeal the decision, which also mandates the deletion of illegally gathered data and the submission of a plan to enhance protections for minors. Brazil's government, under President Luiz Inácio Lula da Silva, has been actively working to regulate internet use among minors. Rosângela Lula da Silva, Brazil's first lady, has been vocal about the need for stricter measures against TikTok's practices.

 

The Gazette Cedar Rapids Iowa