Human Times

North American Edition

2nd November 2026

THE HOT STORY

Bank of America challenged over policy requiring arbitration

A dismissed financial adviser has sued Bank of America for allegedly retreating from a commitment made in a 2013 racial bias settlement not to require workers to arbitrate discrimination claims. Katherine Mackey, in a complaint filed in Manhattan federal court, challenged a 2024 policy that is said to have mandated staff to accept arbitration through JAMS for many claims, including discrimination and harassment, and "forever ⁠waive" their right to sue in court or pursue class actions. “Congress and the Supreme Court have long encouraged the use of arbitration to resolve employment disputes," a spokesperson ‌for the second-largest ‌U.S. bank said. "Arbitration ⁠policies using JAMS as the forum for arbitration are routinely upheld in court, as has this one. We look forward to vigorously defending all aspects of this case.”

Reuters

ECONOMY

Economy, healthcare, and Iran War lead U.S. voter concerns ahead of midterms

The economy, healthcare, and the war in Iran are the leading concerns for U.S. voters ahead of the 2026 midterm elections, according to a new Gallup poll. Half of registered voters rated the economy and healthcare as extremely important to their voting decisions, while 47% assigned the same importance to the Iran conflict, with another 30% describing it as very important. Immigration ranked as extremely important for 40% of voters, while climate change received the lowest rating among the 11 issues surveyed, at 29%. Economic concerns remain significant, although fewer voters consider the issue extremely important than in 2010, when the figure reached 63%. The survey also revealed differences across political affiliations, with Democrats generally assigning greater importance to most issues than Republicans. Among independent voters, the economy ranked highest, followed by healthcare and the Iran war. The poll surveyed 1,057 registered voters between October 1 and 19, with a margin of error of approximately four percentage points.

The Hill

WORKFORCE

Slowing U.S. wage growth eases labor cost pressures

U.S. labor costs rose at a slower pace in the third quarter of 2026, suggesting that wage pressures are becoming less of a concern for inflation, according to the Bureau of Labor Statistics. The Employment Cost Index increased 0.8%, down from 0.9% in the previous quarter, while wages and salaries grew 0.7%, compared with 0.9% in the second quarter. Annual labor cost growth remained unchanged at 3.4%. Despite moderating wage growth, workers continue to face declining purchasing power. Annual wage growth slowed to 3.1% in September, below the 3.6% increase in consumer prices, while inflation-adjusted wages fell 0.6% over the year. Employee benefits rose 0.9% during the quarter, with health insurance costs increasing at their fastest pace since 2005. The findings suggest that the labor market is contributing less to inflation, although broader price pressures remain elevated. The Federal Reserve has maintained its benchmark interest rate at 3.75%–4.00%, with economists anticipating a potential increase in December as policymakers balance persistent inflation against subdued hiring and slowing wage growth.

Bloomberg

Reuters

LEGAL

U.S. medical billing law triggers surge in disputes and rising insurance costs

The No Surprises Act has prevented approximately 50 million unexpected medical bills since taking effect in 2022, but its arbitration system is creating significant financial pressures for health insurers and employers. More than 2m payment disputes were filed last year, far exceeding the federal government's original estimate of 17,000 annually. Healthcare providers win approximately 85% of arbitration cases, frequently securing payments substantially above standard in-network rates. Researchers estimate that arbitration has cost health plans $22.4bn over the law's first four years, raising concerns about higher insurance premiums and employer healthcare expenses. New York's state employee health plan has already cited the legislation as a major contributor to a 10% rate increase for 2027. Congress is considering reforms to address escalating costs, including legislation that would eliminate the arbitration system entirely. While the law continues to protect patients from certain unexpected medical charges, growing disputes and reimbursement costs could undermine its broader goal of improving healthcare affordability.

Fortune

Warren demands DOJ probe into Bank of America

Senator Elizabeth Warren (D-Mass.) is urging the DOJ to launch a criminal investigation into Bank of America following the bank's admission of willful violations of federal anti-money-laundering laws. The bank faces over $1.2bn in penalties, which Warren described as a “slap on the wrist.” In her letter, she emphasized that the violations allowed illicit actors to move billions through the U.S. financial system. Warren has given the DOJ until November 12 to confirm whether it has opened a criminal probe. The bank's compliance failures were highlighted in one of the largest anti-money-laundering enforcement actions in history, with regulators noting that Bank of America failed to report over $5bn in suspicious transactions in a timely manner. Warren argues that civil penalties are insufficient, saying: “Civil fines have become the cost of doing business on Wall Street.”

The Hill

CNBC

STRATEGY

Alaska Air to cut about 200 jobs

Alaska Air is to cut about 200 non-contract roles amid soaring fuel prices and geopolitical challenges. Ben Minicucci, the carrier's CEO, warned staff in a memo of a potential $700m annual loss if current conditions persist. "We must return to the financial discipline that has long been a key competitive advantage," Minicucci said, adding that overhead expenses had "grown at a disproportionate rate to revenue" in recent years.

Reuters

REGULATION

FTC indicates it will sue to block Cintas-UniFirst deal

The Federal Trade Commission (FTC) has signaled to uniform rental firm Cintas that it will sue to block its proposed $5.5bn acquisition of rival UniFirst. The regulator has not yet voted on whether to sue, but FTC staff are said to have ⁠privately expressed concerns about the companies' combined market share.

Semafor

INTERNATIONAL

Germany's IG Metall union launches warning strikes

Members of IG Metall, Germany's largest trade union, launched warning strikes in the metalworking and electrical sectors early Sunday. Approximately 300 workers from Thyssenkrupp's Rasselstein unit participated in the first walkout. The union rejected an employer offer of a 1% one-off payment and a 1.3% increase, demanding a 5% pay rise and job guarantees instead. Jorg Kohlinger, head of IG Metall's central district, said: "The midnight warning strike at Thyssenkrupp Rasselstein is merely the start of a massive phase of warning strikes." Further strikes are expected this week throughout the ⁠bargaining region covering the states of Hesse, ⁠Rhineland-Palatinate and Saarland as well as in Thuringia.

Daily Sabah

Bangladesh garment factories reopen following wage protests

Garment factories in Bangladesh reopened on Sunday after wage protests disrupted operations. Workers are demanding a minimum monthly wage of 30,000 taka ($243), significantly higher than the current 12,500 taka, amid rising living costs and inflation. Babul Akhter, general secretary of the Bangladesh Garment and Industrial Workers Federation, said: "If factory owners cannot pay workers properly, they should negotiate better prices with international buyers." The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) reported that protests affected 529 factories and nearly 1 million workers. The government has formed a six-member minimum wage board to review the workers' demand. "The government has already taken a step by forming the wage board. We expect workers to allow the review process to proceed," said BGMEA President Mahmud Hasan Khan.

France 24

U.S. News

ING plans to cut hundreds of jobs

Dutch financial giant ING is to eliminate 400 jobs in its wholesale banking division. ING said it is creating a more streamlined structure for the business, which serves large corporates and financial institutions. “Sometimes we feel we are too complicated internally, and therefore we simplify the organization,” ING chief executive Steven van Rijswijk said, adding that means “it will be more direct for our clients to do business with us, with clear internal lines and clear decision making.” The bank has more than 60,000 employees, according to its website.

OTHER

North Korea opens wave of barbecue restaurants

North Korea has announced the opening of more than a dozen barbecue restaurants across the country since September, as leader Kim Jong Un seeks to showcase rising prosperity beyond the capital, Pyongyang. The new venues, some spanning several floors and accommodating hundreds of diners, form part of a broader expansion of leisure facilities, including waterparks, coffee shops and luxury shopping centres. The openings come as North Korea's economy grew 3.5% in 2025, marking a third consecutive year of growth above 3%. However, analysts have questioned whether the restaurants reflect genuine improvements in living standards or government propaganda, particularly as more than 40% of the population is estimated to be undernourished. Critics argue that the high-end establishments remain largely inaccessible to ordinary citizens, with the expansion potentially benefiting a relatively small, wealthier segment of the population.

Reuters

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