THE HOT STORY

Airlines call on government to end shutdown

Delta, United, and American Airlines are urging Congress to end the government shutdown immediately and pay air traffic controllers, who missed their first full paychecks last week. Controllers, already facing staffing shortages, are working mandatory overtime to maintain safety. Airlines warn prolonged shutdowns could cause holiday travel delays and cancellations, stressing both workers and the economy. The shutdown, ongoing since October 1, risks costing up to $14bn if it lasts eight weeks, while essential federal employees continue working without pay, increasing operational and safety pressures in the National Airspace System.

CNBC

TECHNOLOGY

KPMG to assess staff AI use

KPMG is to evaluate how employees use AI tools during annual performance reviews. Niale Cleobury, KPMG's global AI workforce lead, said the firm is already monitoring AI usage through tools like Microsoft's Copilot. Starting in 2026, staff will be assessed on their achievement of AI objectives. “We all have a responsibility to be bringing AI to all of our work," Cleobury said.

Bloomberg Tax

RETENTION

Burnout drives talent away, says report

According to the 2025 Accounting MOVE Project Report, 63% of accounting firms identify burnout as the primary reason employees leave. The report emphasizes the importance of "belonging" as a crucial factor in talent retention. Bonnie Buol Ruszczyk, president of the Accounting MOVE Project, said: "belonging seems to be why people leave - more so than pay." The report also highlights that only 17% of firms track working parents, despite 68% offering equal parental leave. Additionally, only 32% of firms analyze pay equity by ethnicity, and just 19% train managers on fair pay practices. The findings suggest that companies need to address these issues to improve employee satisfaction and retention.

Accounting Today

CYBERSECURITY

Nation-state hack hits Ribbon systems

Hackers linked to a foreign nation infiltrated Ribbon Communications' IT network undetected for nearly a year, starting in December 2024, the company has disclosed in an SEC filing. Ribbon, a Texas-based telecom technology provider, confirmed the breach in an October 23 statement, noting three smaller customers were affected. The company has not named the nation-state involved or specified impacted clients. “We do not have evidence at this time that would indicate the threat actor gained access to any material information,” said a company spokesperson, adding that security enhancements are underway.

Reuters

LEGAL

Engineers sued by former employer

Palantir Technologies is suing two former senior engineers, Radha Jain and Joanna Cohen, for allegedly using confidential information to establish a competing firm called Percepta AI. The lawsuit, filed in Manhattan federal court, claims that Jain and Cohen breached agreements that barred them from competing or soliciting Palantir's customers for a specified period after their departure. Palantir asserts that the duo “were entrusted with Palantir’s crown jewels,” and seeks to enforce compliance with their non-compete agreements.

Reuters

Law firm deals with government 'have ethical implications'

Law firms entering agreements with the government must carefully consider the ethical implications, according to an October ethics opinion by the District of Columbia Bar. Any lawyer or law firm that contemplates making a deal with a government that includes conditions that may limit or shape their practices, the opinion said, “must examine whether the arrangement would prevent the firm from providing conflict-free representation to clients - existing and new - who are adverse to the relevant government.”

ABA Journal

New York Times

CORPORATE

BDO's First Brand audit painted healthy picture

The Wall Street Journal reports that BDO USA signed off on First Brands’ 2024 financials months before the auto-parts giant collapsed amid a $2bn accounting scandal. The audit failed to reveal billions in off-balance-sheet debt and unpaid financing obligations later uncovered by restructuring advisers. While BDO denied wrongdoing, experts say auditors often miss hidden risks. First Brands has filed for bankruptcy, prompting CEO Patrick James’s resignation and a Justice Department probe into missing investor funds and opaque factoring arrangements.

Wall Street Journal

LEADERSHIP

Top drug regulator resigns

The director of the U.S. Food & Drug Administration's Center for Drug Evaluation and Research has resigned. George Tidmarsh had been placed on leave on Friday following scrutiny over his comments criticizing a treatment made by Canadian pharmaceutical company Aurinia Pharmaceuticals. That company on Sunday filed a lawsuit accusing Tidmarsh of making false statements and soliciting a bribe due to a “long-standing personal vendetta” against its board chairman.

Washington Post

INTERNATIONAL

Australia's AGL to cut jobs

Australian power producer AGL is to cut jobs as part of a move to cleaner energy and a closure of its coal-fired power plants in the middle of the next decade. "As we transition our portfolio, and connect our customers to a sustainable future, we need to ensure that today's business remains productive and competitive in this changing market while we continue to invest in our business for tomorrow," an AGL spokesperson said. The Mining and Energy Union (MEU) said it had been told 300 jobs would go across management and operational roles at the company's Bayswater and Loy Yang A power stations.

Reuters

Athens braces for 48-hour taxi strike

Athens taxi drivers plan a 48-hour strike on November 5–6 to protest government measures they believe threaten their profession. The Athens Taxi Drivers Union (SATA) demands the removal of restrictions on bus-lane access and a review of the mandate for all new taxis to be electric by 2025. SATA said: "This policy ignores the real professional needs of taxi owners and drivers." The strike highlights tensions between Greece's green transition goals and the economic challenges faced by small business owners, particularly in the taxi sector.

GreekCitytimes

Israel to offer tax breaks to new immigrants

Israel is to offer tax breaks to new immigrants in a bid to boost the local economy. Officials say the incentives could generate as much as NIS 900 million ($276m) annually through new businesses, increased employment and indirect tax revenue.

The Times of Israel

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