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SAP has reported growing customer concerns about the origins, security, and governance of artificial intelligence (AI) models embedded in enterprise software, as geopolitical tensions and data sovereignty requirements increasingly influence technology purchasing decisions. Chief financial officer Dominik Asam said clients are questioning whether AI models could expose sensitive information to unauthorized jurisdictions, particularly amid export restrictions and Europe's push for greater technological independence. SAP currently integrates more than 70 AI models from different providers into its accounting, supply chain, and business management software, allowing customers to select technologies that meet their security and regulatory requirements. Mr. Asam noted that government agencies and defense contractors face particularly stringent restrictions, while other businesses may accept models developed across multiple regions.

 

Reuters

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Abbott Laboratories has lowered its 2026 sales growth forecast to approximately 6%, down from its previous guidance of 6.5% to 7.5%, and announced plans to spin off its nutrition division into a separate publicly traded company. The business, which includes Similac infant formula and Ensure nutritional drinks, generated more than $8bn in sales last year but has faced declining demand, higher manufacturing costs, lost government contracts, and ongoing litigation. 

 

Financial Times

Reuters

Meta Platforms has increased its minimum 2026 capital expenditure forecast to $135bn from $130bn as it accelerates investment in artificial intelligence (AI) and data centers, despite mounting pressure on its finances. Third-quarter revenue rose 26% to a record $64.6bn, while profit increased to $9.8bn from $2.7bn a year earlier, when earnings were affected by a tax charge. However, costs surged 68% to $51.6bn, free cash flow fell to negative $2.12bn, and long-term debt climbed to $80.9bn from $58.7bn. To improve financing flexibility, Meta has announced plans for a two-for-one stock split and a new class of shares in January. The company has also faced significant legal costs, including a $9.9bn quarterly charge related to social media addiction lawsuits and a separate $25bn data privacy penalty in New Mexico. Despite these pressures, Meta continues to expand its AI capabilities, with its recently launched Muse assistant surpassing 10.5m downloads, while its core advertising business remains strong and daily users across its apps have increased 3% to 3.64bn.

 

TechCrunch

Bloomberg

New York Times

Reuters

Citadel chief executive Ken Griffin has warned that America's $40tn national debt and $2tn annual budget deficit are unsustainable, and is calling for stronger economic growth, productivity improvements, and reforms among European allies. Speaking at a Citadel Securities conference in New York, Mr. Griffin criticized European labor restrictions, particularly in France, arguing that U.S. allies must strengthen their economies while relying on American defense spending. He also described the U.S.-Europe tariff dispute as counterproductive to shared economic growth. He urged the U.S. administration to prioritize investment in domestic data centers, nuclear fusion, robotics, and emerging technologies to drive long-term productivity. He additionally emphasized education and immigration policies that attract highly skilled international talent, arguing that expanding economic output across Western economies offers a more effective solution to mounting fiscal pressures than trade disputes or austerity alone.

 

Fortune

eBay has announced plans to cut approximately 9% of its workforce, affecting around 1,000 employees, in its second round of redundancies this year following a 6.5% reduction in February. The company said the restructuring will allow it to prioritize strategic investments and improve operational efficiency, while continuing to recruit in selected areas aligned with its growth plans. The announcement comes despite improving financial performance, with revenue and gross merchandise volume increasing in recent quarters, prompting eBay to raise its full-year outlook in August. The company has also expanded its presence in second-hand fashion through its acquisition of Depop from Etsy, while rejecting an unsolicited takeover proposal worth approximately $56bn from GameStop chief executive Ryan Cohen.

 

Reuters

Wall Street Journal

Philadelphia-based media and telecom conglomerate Comcast is ​planning a significant number of ‌job cuts as part of a restructuring of its cable-TV, broadband and ​wireless businesses. Bloomberg reports that the cuts aim to create a more nimble workforce and free up cash to invest in more growth opportunities, among other long-term goals. It hasn't been revealed how many jobs are at stake. Comcast had about 179,000 employees ⁠as ​of the end of last year.

 

Bloomberg

Reuters

Video-game publisher Electronic Arts is to cut around 400 jobs, or about 3% of its total staff, as part of a plan to save up to $700m. The cuts include roughly 50 at BioWare, the development studio behind games such as Dragon Age and Mass Effect. Earlier this year, the company told investors it had a plan to save up to $700m, in part by paring back research and development costs.

 

Bloomberg

A federal judge in New Mexico has ordered Meta to pay $25bn after ruling that it deliberately misled the public about its handling of Facebook user data. Judge Francis Mathew said communications between senior executives were designed to mislead the public. "Facebook's wrongdoing - over the course of years and systematically broadcast to the public - goes to the heart of Facebook's core business practices," Mathew wrote. He found that a penalty of more than $219bn was warranted based on state law, ​but he reduced the figure to $25bn. The penalty would be among the largest payouts in U.S. legal history if it stands. New Mexico Attorney General Raúl Torrez said the money must be spent on building schools. “We may have in fact paid for the construction of schools for the next several hundred years,” Torrez said. “I don’t actually know because the amounts that we’re dealing with are so huge.”

 

Bloomberg

Reuters

United Airlines chief executive Scott Kirby has faced criticism from conservative politicians and commentators after advocating for a national wealth tax and significantly higher inheritance taxes to address growing economic inequality. In an interview with the New York Times, Mr. Kirby described wealth inequality as a danger to society and suggested inheritance taxes approaching 100% above certain wealth thresholds, saying he would personally pay them. His remarks prompted boycott calls against United Airlines, while Louisiana Gov. Jeff Landry questioned his position given his reported $32m compensation in 2025. The controversy comes ahead of a California vote on a proposed 5% tax on billionaires. Mr. Kirby also defended airline pricing, arguing that higher fares reflect operating costs and that charging separately for premium seating gives passengers more choice. He maintained that inflation-adjusted airfares remain below 2019 levels, despite passenger concerns about rising travel costs.

 

Fortune

The Guardian

The identification of two critical vulnerabilities in PHP, a programming language which underpins around 70% of the world’s websites, has led to government agencies and businesses worldwide taking their websites offline. In the U.S., Utah-based HR software company BambooHR took its platform offline, Human Resources Director reports. The flaws could allow hackers to take control of web servers without a password. The organization behind the language issued a patch on Wednesday after researchers testing cyberdefenses discovered the flaws. Prof Alan Woodward, a cybersecurity expert at Surrey University in the U.K., said: “The big thing is for everyone using [the patch] to get that in to make sure their systems are safe. The troubling part is there is going to be a long tail of websites who may not be maintained as well and they are going to remain vulnerable, which means we may see weeks and months of ongoing attacks.”

 

Bloomberg

Human Resources Director

NBC News

BBC News

The GASB has announced plans to introduce no new accounting standards effective in fiscal year 2028, with the earliest potential implementation of further standards expected in fiscal year 2029, providing relief to government finance departments facing staffing shortages, increasing audit demands, and limited resources. Speaking at the AICPA Governmental and Not-for-Profit Conference, GASB Chair Joel Black highlighted the board's efforts to reduce compliance burdens while prioritizing meaningful improvements in financial reporting. Existing standards, including Statements 103 and 104, are taking effect this fiscal year, while subsequent events guidance is scheduled for fiscal year 2027. GASB will continue developing projects covering infrastructure assets, financial distress, revenue recognition, and digital financial reporting, while emphasizing materiality considerations to simplify implementation.

 

Accounting Today

Gellert Global Group, represented by the Liberty Justice Center, has filed a lawsuit in the U.S. Court of International Trade challenging President Donald Trump’s 50% tariffs on Canadian imports. The lawsuit argues that Mr. Trump exceeded his presidential authority by invoking Section 338 of the Tariff Act of 1930, a previously unused provision, to impose sweeping trade restrictions. The company says the tariffs have increased costs, disrupted supply chains, and harmed businesses and consumers in both countries. The legal challenge also disputes the administration’s justification for the measures, citing existing trade agreements and retaliatory Canadian policies. The plaintiffs are seeking a declaration that the tariffs are unlawful and refunds of duties paid. The Trump administration has pledged to defend the measures in court.

 

CBC News

CNBC

New York Times

Reuters

Pakistan’s garment industry is facing growing concerns over dangerous working conditions as climate change intensifies extreme heat in factories supplying international brands, including Zara and Mango. Workers in Karachi have reported fainting, dehydration, respiratory problems, and lost wages due to inadequate ventilation, limited breaks, and insufficient cooling measures. An Associated Press investigation found that factories frequently lacked temperature monitoring and effective heat protection protocols, despite corporate commitments to worker safety. Inditex, Zara’s parent company, has pledged stronger supplier audits and training, while Mango has updated its supplier code to address extreme temperatures. However, labor rights advocates have criticized weak enforcement, and heat safety protocols under the International Accord for Health and Safety remain under review. Experts have urged manufacturers to introduce improved ventilation, reliable drinking water, and regular rest breaks to protect workers as temperatures continue to rise.

 

US News and World Report

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 October 26th-October 29th. 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 chief executive ​and chair David Solomon, Standard Chartered CEO Bill Winters and Citi's CEO Jane Fraser.

 

CNBC

Reuters

Wall Street Journal