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The House Select Committee on China has raised concerns about online investing platform WeBull, after internal messages from 2021 suggested that an employee, Zhenghan Wang, may have accessed U.S. customer data while in China. The committee's Oct. 7 report indicated that Webull is "tied in structural ways" to China's government, posing a national security threat to American finance. Despite Webull's claims that sensitive data is restricted to U.S.-based employees, the messages indicate otherwise. "All the evidence in these text messages points to Zhenghan Wang being located in China with access to U.S. customer data," a spokesperson for the committee said. Webull's shares fell over 19% following the report, and the company has since defended its data protection practices, asserting that U.S. customer data is stored solely in the U.S. and managed by U.S.-based personnel.

 

CNBC

Developer platform Railway has confirmed a cyberattack that allowed hackers to access customer secrets, prompting the company to advise all users to rotate their API and cloud keys. In a blog post, Railway said the unidentified hackers “may have accessed encrypted environment variables and, for some of them, obtained the decrypted contents.” These variables include passwords and API keys essential for accessing services. Although the breach appears limited to a “subset of users,” Railway emphasized that “all users” should take precautionary measures. The company has paused customer deployments during its investigation. This incident follows a warning from the U.S. cybersecurity agency CISA about large-scale attacks by China-based AI companies targeting U.S. firms.

 

Techcrunch

SAP has reported growing customer concerns about the origins, security, and governance of 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

Attorney General Todd Blanche has said the Justice Department (DOJ) could intervene in state election verification processes under certain hypothetical “scenarios.” In a Fox News interview, he said: “Yes, of course there's scenarios that we can all come up with hypothetically, you know, some doomsday scenario for example, right? . . . So I don't think it's proper to make any kind of conclusory statements about what's going to happen in the future, because I have no idea what's happening in the future.” Blanche said the DOJ has no intention “to improperly interfere with elections or the state confirmation process or certification process.” He continued: “There's no circumstances that we would ever do that . . . Of course I'm not going to say that. But am I planning my days around the election to be somewhere to not certify? Of course not, no, not at all.”  Blanche accused Democrats of “fearmongering” by claiming the DOJ is trying to intimidate voters.

 

The Hill

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

The Supreme Court has said it won't overturn a landmark ruling that extended copyright termination globally. Major labels including Universal Music Group, Sony Music, Warner Music Group and BMG had claimed it would cause “chaos” for the music business. The justices upheld a ruling by the New Orleans-based 5th U.S. Circuit Court of Appeals, which had sided with songwriter Cyril Vetter in the dispute involving a ​1960s rock 'n' roll hit he co-wrote with the late Donald Smith called "Double Shot (Of My Baby's Love)." The lower court's decision, which said that artists can use termination to regain not only American copyrights, but also overseas rights to the same songs, undid decades of industry precedent, reports Billboard, which also however notes that the high court's order is not the law of the land: other appeals courts are not bound to rule the same way.

 

Billboard

Reuters

A class-action lawsuit has been filed by law ​firm MinterEllison in Australia's Federal Court, the country's second-highest, against Meta Platforms' Facebook and Instagram. The lawsuit alleges the social media platforms exposed children to harmful content and kept them addicted through algorithms. It could be the first ⁠in Australia to blame social media for harming ​its users, particularly children and teenagers. "We are aware of ​this claim and we will defend ourselves vigorously," a Meta ‌spokesperson ⁠said.

 

News.com.au

Reuters

Uber has won its bid to throw out claims worth about £340m ($453m) brought by thousands of London black cab drivers and two former private hire firms after a High Court judge ruled that they had left it too late to sue. The claimants said the ride-hailing giant gave Transport for London (TfL) misleading information when it first got a licence to operate in the city in 2012. Uber denied the claims. About 13,000 drivers were seeking nearly £200m in damages, and a claim on behalf of Kabbie and Iride, two private hire firms that have since closed, sought about £140m. The lawsuits were filed in 2024. Uber argued they fell outside the six-year limit for bringing such claims.

 

Financial Times

Reuters

The Register

BBC News

Microsoft has remained neutral alongside major employers including Amazon and Boeing in Washington state's ballot initiative to repeal a new 9.9% income tax on household earnings exceeding $1m, which is expected to generate more than $3bn annually from 2029. The companies have focused instead on opposing proposed wealth and statewide payroll taxes, while lawmakers have rolled back certain business and estate tax increases. Microsoft has contributed $5m to Washington Needs to Compete, a political action committee that has raised more than $13.5m to support business-friendly legislative candidates. Meanwhile, the campaign to repeal the income tax has raised approximately $2m, compared with more than $12m raised by opponents, largely through public sector unions. Voters will decide the tax's future through Initiative 645 in November 2026.

 

The Seattle Times

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

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

Starbucks has announced that customers in China must make a purchase to use café seating, as the coffee chain seeks to improve its in-store experience and revive sales in an increasingly competitive market. The company also plans further investment in fiscal 2027, including additional staff during peak hours, digital upgrades, and renovations at approximately 1,000 stores. Starbucks, which operates around 8,000 locations in China, has faced declining comparable-store sales over the past two fiscal years amid competition from lower-priced rivals such as Luckin Coffee. The changes follow its agreement to sell a majority stake in its Chinese business to Boyu Capital at a $4bn enterprise valuation. Starbucks in the U.S. last year reversed a policy allowing anyone, including those who hadn’t purchased food or drinks, to use its cafés, patios and restrooms.

 

Bloomberg

China Daily