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Hilary Maxson, Oracle's chief financial officer, has told employees that the company’s latest layoffs are not about “doing more with less,” but about simplifying processes and directing resources toward areas with the greatest customer impact. Her comments came during her first companywide meeting, one day after Oracle began another round of job cuts, although executives reportedly did not directly discuss the layoffs during the meeting. Oracle eliminated approximately 21,000 positions, or about 13% of its workforce, during the fiscal year ended May 31st 2026, and has expanded its 2026 restructuring plan by approximately $700m to an estimated $2.8bn. The cuts come as Oracle sharply increases investment in AI infrastructure and data centers, with capital expenditures reaching $28.5bn in the quarter ended August 31st, up from $8.5bn a year earlier. The company continues to forecast fiscal 2027 capital spending of $90bn-$95bn.

 

Quartz

Business Insider

Coca-Cola plans a $10bn system-wide infrastructure investment across the U.S. between 2026 and 2030, spanning new and expanded facilities in eight states as it looks to increase manufacturing and distribution capacity. Chief financial officer John Murphy said the majority of the investment will come from Coca-Cola’s bottling partners and is intended to support long-term growth rather than mitigate tariffs. An independent study commissioned by Coca-Cola found that the business contributed $85bn to U.S. GDP in 2025, supported nearly 1m American jobs and spent around $37bn with U.S. suppliers. Murphy said the increase in estimated GDP contribution from $58.8bn in a more limited 2023 study partly reflected greater bottler participation, alongside business growth including Fairlife and Bodyarmor.

 

Fortune

Reuters

Despite warnings from industry leaders about the risks of unbounded AI, GOP leaders are resisting calls for immediate regulations. Speaker Mike Johnson (R-La.) dismissed the need for swift action, while Senate Majority Leader John Thune (R-S.D.) suggested any regulation should be light-touch to avoid stifling innovation. President Trump reinforced this stance, writing on Truth Social: “The only control or ‘guardrails' that AI needs is a STRONG AND SMART (High IQ) PRESIDENT, and the U.S.A. has that, in spades.”  The lack of action from Republicans comes amid increasing pressure from Democrats who are pushing for new safety protocols. House Minority Leader Hakeem Jeffries (D-N.Y.) criticized the GOP for abandoning their legislative responsibilities, and urged Congress to remain in session to address AI safety risks.

 

The Hill

Council of Fashion Designers of America chief executive Steven Kolb has been placed on leave pending a review after he was filmed physically restraining animal rights protesters who disrupted a Cos runway show during New York Fashion Week. Six PETA activists took part in the protest against the use of wool. Footage showed Kolb covering the mouths of two protesters as they shouted slogans; PETA said it had filed a police report and was consulting lawyers. Mr Kolb later said he had reacted inappropriately and should have left the situation to security. H&M, Cos’s parent company, said its priority was the safety of guests, models and colleagues. PETA said it hopes to meet with Mr Kolb, adding it will not pursue its initial plan to file a police report and instead hopes to discuss ending the use of wool and animal skins in fashion.

 

Reuters

US News and World Report

Washington Post

Manufacturing activity in New York State continued to expand in September, but growth slowed significantly following a strong performance in August. The Federal Reserve Bank of New York’s Empire State Manufacturing Survey showed its business conditions index falling to 7.6 from a four-year high of 20.6 in August, well below economists’ expectations for a reading of 15. New orders increased modestly, while shipments declined slightly, indicating a more subdued pace of factory activity. Labor conditions remained relatively positive. The number of employees index was little changed at 10.6, while the average workweek index jumped 10 points to 17, signaling solid growth in employment and hours worked. The survey also showed a modest increase in unfilled orders, significantly longer delivery times, and rising inventories. Meanwhile, inflationary pressures intensified. The prices paid index increased five points to slightly above the four-year high recorded in May, while the prices received index also rose five points, suggesting manufacturers faced higher input costs and responded with stronger selling-price increases.

 

Wall Street Journal

John Deere is rehiring 375 workers in the Quad Cities to bolster inventory ahead of upcoming labor negotiations. The decision follows the United Auto Workers' rejection of a contract extension, primarily due to job security concerns. Since April 2024, Deere has laid off over 2,000 workers amid an agricultural downturn. The company plans to recall 150 workers at its Moline plant and 225 at its East Moline facility, with the process continuing in phases over the next few months. Deere said it aims to ensure customer service while collaborating with its workforce and union partners during negotiations.

 

DesMoines Register.com

President Donald Trump has slammed the Supreme Court after justices ruled against him on tariffs, birthright citizenship, and mail ballot restrictions ahead of the midterm elections. Trump said the court's decision on tariffs will cost the U.S. trillions of dollars and the ruling on birthright citizenship is “a complete and total disaster for America.” He wrote on Truth Social: “The damage done to America is incalculable, and they know this, just as everyone else does - It is an irreparable and unrecoverable harm! The Court's inability and unwillingness to do the right thing for our Country will go down, in a very negative way, in the annals of History. This Supreme Court is bullied and cajoled by the Radical Left into making decisions that have set America back at least a hundred years.”  Trump suggested that his picks for the court are not who he thought they would be. “These are not the people I interviewed to serve on the United States Supreme Court, they are merely a shell of their original selves, a Court that is costing the United States Trillions of Dollars with shockingly bad rulings that are of such magnitude that it won't be easily possible for our Country to recover or heal,” he wrote.

 

The Baltimore Sun

NJ.com

Universal Music Group (UMG) has filed a lawsuit against digital music distributor DistroKid, claiming the company disseminates “AI-generated ‘slop' that siphons revenue and listeners from legitimate artists.” The complaint, lodged in federal court in Delaware, accuses DistroKid of “deceptive trade practices and blatant copyright infringement.” UMG is seeking statutory damages and injunctive relief for violations of its exclusive rights. DistroKid, which allows independent artists to upload music to over 150 platforms, is criticized for failing to adequately screen content; one user reportedly released 4,562 tracks in a year.

 

Los Angeles Times

Iron ore trader Radiant World and Sapphire Minmetals have filed a lawsuit ​in Singapore against London-listed miner Glencore, claiming $2bn in damages. Glencore had accused Radiant World and associated companies of sending falsified invoices to lenders. The miner directly accused the companies of fraud, saying it had “confirmed evidence” that they had “sent falsified invoices and contracts as well as fabricated emails, which they fraudulently claimed to have received from Glencore personnel, to a number of financial institutions.” Bloomberg says the respective claims “mark an explosive end to a business relationship that for many years was extremely close.” 

 

Bloomberg

Reuters

OpenAI has acquired Glass Imaging, an artificial intelligence (AI)-powered smartphone camera technology start-up founded by former Apple employees, in a deal valuing the company at more than $300m, up from around $100m in a funding round last year. Glass Imaging uses AI to improve smartphone photography with the aim of producing DSLR-quality images and had previously raised around $30m from investors including GV and Insight Partners. OpenAI’s plans for the technology have not been disclosed, although the acquisition comes as it develops consumer devices with former Apple design chief Jony Ive following its $6.5bn acquisition of his startup io Products in 2025.

 

Wall Street Journal

Federal income tax brackets could increase by approximately 3.2% for 2027 as the IRS adjusts thresholds for inflation, according to projections from Bloomberg Tax. The projected increase would be larger than the 2.7% adjustment implemented for 2026 and is intended to limit “bracket creep,” which can push taxpayers into higher brackets when wages rise because of inflation without a corresponding increase in real income. Under the estimates, thresholds would rise across all seven federal tax brackets. For example, the 22% bracket would begin at a projected $52,025 for single filers and $104,050 for married couples filing jointly, compared with $50,400 and $100,800, respectively, in 2026. The figures remain projections, however, and the IRS is expected to announce the official 2027 tax provisions within the next several weeks.

 

The Hill

The IRS has introduced proposed regulations to implement amendments from the One, Big, Beautiful Bill Act (OBBBA) regarding the allocation and apportionment of deductions for foreign tax credit limitations and foreign-derived deduction-eligible income (FDDEI). The new regulations under I.R.C. §904(b)(5) specify that deductions related to I.R.C. §250(a)(1)(B) and certain state and local income tax deductions linked to section 951A income will be allocated to foreign source section 951A category income. Notably, interest expenses and research and experimental expenditures will not be allocated to this income category but will instead be reallocated to U.S. source income.

 

Bloomberg Tax

U.S. median household income rose 2.6% to an inflation-adjusted record of $87,460 in 2025, its highest level since the Census Bureau began tracking the measure in 1967. However, median earnings for full-time, year-round workers were little changed, while elevated costs for groceries, utilities, housing, gasoline, and other essentials continued to put pressure on household finances. The poverty rate fell from 10.7% to 10.2%, while child poverty declined one percentage point to a record-low 13.4%. The uninsured rate remained broadly unchanged at 7.9%. Women’s median earnings increased 3.2%, with women working full-time, year-round earning 83.9% of their male counterparts’ earnings, up from 80.6% in 2024. Health insurance trends were mixed, with Medicare coverage increasing 0.6 percentage points to 20.1% of the population, while Medicaid coverage declined 0.5 percentage points to 17.1%. Future changes to Medicaid and Affordable Care Act subsidies are expected to increase the number of uninsured Americans in 2026 and subsequent years.

 

CNN

The Hill

Reuters

US News and World Report

Sustainable investment funds outperformed traditional funds in the first half of 2026, while assets under management reached a record $4.2tn at the end of the second quarter, according to the Morgan Stanley Institute for Sustainable Investing. Sustainable funds generated a median return of 4.9%, compared with 4% for traditional funds, with sustainable equity funds returning 9% versus 8.6% for their traditional counterparts. Outperformance was recorded across all major regions, particularly the Americas, where sustainable funds returned 8.8% versus 5.5%, and APAC, where they returned 11.6% versus 4.8%. Net inflows also recovered to $38bn in the first half, following $75bn of outflows in 2025, although flows slowed sharply from $34bn in the first quarter to $4bn in the second. Despite record assets, sustainable funds’ share of total fund assets declined to 6.1% as inflows remained weaker relative to traditional funds.

 

ESG Today

European Commission President Ursula von der Leyen has proposed working toward making Canada the European Union’s first associate member as both sides seek a significantly deeper economic, security, and technological partnership. Potential areas of cooperation include integrating defense and other critical supply chains, increasing Canadian energy flows to Europe, developing joint cloud and data centers, coordinating on AI and digital rules, and exploring some mutual visa-free travel and work arrangements. Canadian Prime Minister Mark Carney has made closer European ties central to efforts to diversify Canada’s economy away from the U.S.; his government welcomed von der Leyen’s proposal. However, the details remain under discussion, and significant obstacles include EU requirements concerning single-market rules, budget contributions, and freedom of movement, which Canadian officials have indicated they are unwilling to accept in full. 

 

CNBC

Euronews

Politico

Wall Street Journal

A European Commission document seen by Reuters indicates that the European Union will propose ​a ban restricting under 15s from social media, video sharing platforms, AI chatbots and online games. The ​proposal is part of an EU Kids Act to be presented by European Commission President Ursula von der Leyen ​and EU tech chief Henna Virkkunen on Thursday. Reuters says von der Leyen ​may announce some ⁠details in her State of the Union address on upcoming EU policy today. "The Union's approach should allow ​minors to benefit from the huge potential of digital services, while protecting them from abuse and exploitation. It needs ​to limit the access of tech companies to our children, and not the other way around," the document said.

 

Euronews

RTE

Reuters

Accounting occupations have a higher proportion of older workers than the broader U.S. workforce, according to a Sam’s List study. Some 13.5% of bookkeeping, accounting, and auditing clerks are age 65 or older, compared with 7% across all occupations, while the figure for accountants and auditors is 8.4%. Combined, 317,000 people age 65 and older continue to work across the two groups. The trend varies significantly by location. San Francisco has the highest share of bookkeeping and accounting clerks age 65 or older at 24.4%, followed by Tampa at 21.3%, and San Diego at 20.7%. Among accountants and auditors, Miami leads at 11.1%, followed by Los Angeles at 10.8%, and Philadelphia at 10.7%.

 

Accounting Today