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Deloitte's U.S. Human Capital Practice leader Simona Spelman has warned that declining workplace trust can dramatically undermine employee motivation, particularly as companies accelerate artificial intelligence adoption. Speaking at Fortune's Most Powerful Women Summit, Spelman identified reliability, transparency, capability, and humanity as the four pillars of trust. Deloitte data shows that 82% of employees are motivated to perform at their best when none of these factors is distrusted, but that figure falls to 37% when just one is distrusted, and to 7% when all four are distrusted. Catalyst research also highlights concerns about AI-related workplace changes, with 68% of leaders reporting employee reskilling plans, while only 34% of employees believe AI training is accessible to everyone. Spelman noted that approximately 93% of AI investment goes toward technology, compared with just 7% toward people, emphasizing that organizations must prioritize employee development, transparency, and human capabilities to maintain trust and engagement.

 

Fortune

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Saudi Arabia has postponed until next year the Future Investment Initiative, the kingdom's big investor conference that was originally scheduled to take place in Riyadh from Oct. 26 to Oct. 29. The decision comes after Houthi militants attacked the international airport in the Saudi capital, leaving at least 12 people dead and hundreds injured. Saudi Arabia’s sovereign wealth fund launched the so-called 'Davos in the desert' in 2017. The conference has played a key role in the kingdom's plans to diversify its oil-dependent economy. Expected speakers for this year's event included Goldman Sachs CEO ​and Chairman David Solomon, Standard Chartered CEO Bill Winters and Citi's CEO Jane Fraser.

 

CNBC

Reuters

Wall Street Journal

The boards of SpaceX and Tesla are exploring a multi-trillion-dollar merger. Tesla is valued at roughly $1.5tn and SpaceX at $2tn, meaning that a combination of the two companies would be the largest merger ever. Elon Musk said combining his two public companies had “a lot of merit.” He said the boards of both companies had formed special committees of independent directors to consider the idea of a combination. Tesla shares rose around 1.5% in after-hours trading, while SpaceX gained 5% after reporting earnings that beat estimates.

 

Bloomberg

BBC News

Activist investment firm Starboard Value has disclosed a stake in Honeywell spin-off Solstice Advanced Materials, arguing that the company is significantly undervalued and needs stronger management accountability to improve shareholder returns. Speaking at an investor summit in New York, Starboard chief executive Jeffrey Smith urged Solstice to concentrate on its core refrigerants and nuclear businesses and reduce companywide costs by approximately $100m. Solstice shares have fallen roughly 30% since reaching an all-time closing high on June 30th, partly following the collapse of its proposed $14.5bn acquisition of specialty chemicals company Element Solutions in August. Solstice said it welcomes shareholder feedback and will review Starboard's proposals.

 

Financial Times

Reuters

Netflix has reported third-quarter revenue growth of almost 12% to $12.87bn, in line with expectations, while net income rose to $3.66bn from $2.55bn, with earnings per share of 87 cents beating forecasts of 82 cents. However, shares fell approximately 6% in after-hours trading after the company lowered its 2026 advertising revenue forecast from $3bn to $2.7bn and narrowed its full-year revenue guidance to $51.1bn, below Wall Street expectations of $51.2bn. The company has also announced plans to cut approximately 1,000 jobs, representing 6% of its workforce, alongside the appointment of Peter Rice as chief content officer, as it seeks to address slowing viewership growth and increasing competition.

 

CNBC

Los Angeles Times

New York Times

Reuters

Adidas shares rose 3.3% in early trading today, after the German brand upgraded its full-year operating profit forecast to €2.5bn from €2.3bn, exceeding analyst expectations of €2.4bn, supported by approximately €200m in U.S. tariff refunds and strong demand for sportswear. The company reported better-than-expected third-quarter sales and operating profit, benefiting from growth in running, soccer, training, and apparel, alongside its ability to maintain full-price sales. Adidas has retained its full-year currency-neutral revenue growth forecast of 9%–10% and plans to reinvest approximately €100m in operational initiatives during the fourth quarter. The company will publish its full third-quarter results on October 29th.

 

Bloomberg

Reuters

Wall Street Journal

Apple has announced plans to invest up to $100m over three years in Pennsylvania-based Perryman Company to supply titanium for its $1,999 foldable iPhone Duo, alongside an expanded partnership with Qnity Electronics to manufacture advanced camera components for the iPhone 18 Pro. The investments support Apple's $600bn U.S. manufacturing commitment, as strong demand and supply constraints have pushed some iPhone Duo delivery estimates to 14 weeks, with JPMorgan forecasting shipments of 8m-9m units this year, below earlier expectations of approximately 10m.

 

CNBC

Amazon has announced plans to recruit more than 300,000 workers across its U.S. operations for the Christmas shopping season, up from 250,000 in each of the previous three years. The increase comes as U.S. holiday retail sales are forecast to grow 4.2% to more than $1tn. Recruitment will cover seasonal, part-time and full-time positions, with seasonal employees earning an average of $20 per hour. Full-time staff will receive a minimum of $20 per hour, averaging nearly $24, while eligible seasonal workers will gain access to healthcare benefits from next year.

 

Reuters

U.S. retailers are facing growing consumer concerns over the adoption of artificial intelligence (AI)-powered pricing tools, digital shelf labels and personalized pricing practices, amid fears that algorithms could enable frequent price changes or different charges for individual shoppers. Major retailers including Walmart and Whole Foods are expanding their use of electronic price labels, and a global survey found that 41% of businesses use AI for market intelligence and 28% for real-time price optimization. Lawmakers in at least 30 U.S. states have considered legislation addressing algorithmic and personalized pricing this year, while the Federal Trade Commission has warned that undisclosed use of consumer data to set individual prices could breach consumer protection laws. Retailers maintain that the technologies improve pricing efficiency, although concerns persist over transparency, data privacy and potential anti-competitive practices.

 

US News and World Report

AICPA has partnered with the Artificial Intelligence Underwriting Company (AIUC) to develop a comprehensive independent assurance certification for AI systems and agents, combining SOC 2 reporting with AIUC-1 certification in a single CPA-led engagement. The offering aims to help organizations assess AI security, reliability, governance, and operational risks through independent examinations and live testing of AI agents against hundreds of potential threats, including data leakage, hallucinations, and cyberattacks. Both certifications require annual renewal, while AIUC-1 also mandates quarterly technical retesting. Several CPA firms are already delivering the combined certification, with a full launch expected in early 2027. AICPA president and chief executive Mark Koziel said the initiative will strengthen stakeholder confidence and provide greater transparency as businesses increasingly integrate AI into critical operations.

 

Journal of Accountancy

A vendor's artificial intelligence (AI) model can remain unchanged while personnel turnover, altered responsibilities and weaker oversight materially change its risk profile. Author Maja Kurek has recommended that companies strengthen vendor oversight by documenting four key factors: human roles and authority, data access permissions, service delivery arrangements, and operational reliance on human support. Citing Meta's internal testing of human-assisted AI calls and a Gartner survey showing that only 52% of relationship owners consistently report changes in vendor scope to compliance teams, the article emphasizes the need for contractual notification requirements, periodic reassessments, and internal audits to identify material changes affecting privacy, security, and operational resilience.

 

Corporate Compliance Insights

Health savings accounts (HSAs) are becoming increasingly popular among Americans, offering tax-deductible contributions, tax-free investment growth, and tax-free withdrawals for qualified medical expenses. According to HSA consulting firm Devenir, the number of accounts reached nearly 43 million by June 2026, up from approximately 32 million in 2021. For 2027, annual contribution limits will rise to $4,500 for individuals and $9,000 for families, with an additional $1,000 available to those aged 55 and older. Account holders can also delay reimbursement for eligible medical expenses, allowing invested funds to grow tax-free, provided they retain supporting documentation. After age 65, HSAs can fund Medicare premiums and other qualified healthcare costs tax-free, although contributions must stop once an individual enrolls in Medicare. Nonmedical withdrawals after 65 are subject to ordinary income tax. Expanded eligibility introduced in 2026 also allows HSAs to be paired with certain Affordable Care Act Bronze and Catastrophic plans, benefiting self-employed workers and early retirees.

 

Wall Street Journal

Schwab plans to launch a proprietary tax-aware long-short strategy after related margin loan balances reached $60.7bn, chief executive Rick Wurster said. Tax Alpha Insider estimates category assets surged from $2bn in 2022 to more than $170bn in 2026, while Schwab's margin loans rose 14% quarter over quarter to $187.9bn. Wealthy investors use leveraged positions to generate losses offsetting capital gains after direct-indexing portfolios exhaust harvestable losses. The offering could generate fees and attract affluent clients, though Schwab has not disclosed timing, eligibility or platform access. The IRS and Treasury are examining tax-alpha structures.  

 

CNBC

Fortescue Metals Group, one of Australia's largest mining companies, has terminated a senior executive following an investigation into allegations of sexual harassment and bullying. The independent inquiry, conducted by law firm MinterEllison, confirmed the claims, precipitating the immediate dismissal of the unnamed executive. A company spokesperson said: “The investigation found conduct that breached Fortescue's policies, as well as our values.” Fortescue, which said it is committed to a safe and respectful workplace, is also facing a class-action lawsuit in the Federal Court, alleging widespread sexual harassment and discrimination against women at its iron ore mines. The lawsuit includes 45 testimonials detailing serious incidents of misconduct. Andrew Forrest, Fortescue's chairman, has previously described the allegations as “serious” and “disturbing,” and said such behavior is unacceptable.

 

Sydney Morning Herald

Chartered Professional Accountants of Canada (CPA Canada) has reported rapid AI adoption across the accounting profession, with 74% of Canadian CPAs using AI at least weekly and 40% using it daily. Its latest survey found that frequent or extensive organizational AI use has increased from 5% to 43% over three years, while the proportion of organizations not using AI has fallen from 62% to 8%. Adoption is particularly strong among senior executives, with 60% of chief executives reporting daily use. Organizations are prioritizing employee upskilling (64%), workflow redesign (56%), and higher-value work (52%) over workforce reductions (22%). Despite productivity and analytical benefits, accountants remain concerned about accuracy and reliability (68%) and privacy and confidentiality (55%). CPA Canada emphasized the need for stronger governance, training, and oversight as AI becomes increasingly embedded in professional practice.

 

Canadian Accountant

Journal of Accountancy

Reuters reports on the many jobless Chinese who are hiding their ‌employment status from family and relatives. The Instagram-like RedNote app, X-like Weibo and Douyin, China's TikTok analog, are host to much-viewed posts advising unemployed people on where to spend the day, how to avoid relatives' questions about ​work, and chronicling the experiences of these phantom-employees. Diana Fu, an associate professor of Chinese politics at Cornell University, says pretend-work potentially defuses collective discontent. "Pretend-workers are helping the ​Chinese government to stave off the hard choice between leaping ahead in automation and protecting job security, which is so essential to the social contract," she said.

 

Reuters