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Binance, the world's largest cryptocurrency exchange, has said it is working with partners to freeze affected assets in a security breach that has resulted in an estimated $6.3bn impact. The firm said it had located about $3bn so far, and has not updated on the status of the remaining $3.3bn. "This was a complex attack, and we are doing all we can in coordination with law enforcement to resolve it," Binance wrote on X. AFP notes that Binance earlier posted sometimes contradictory messages, insisting that "user funds are completely safe" but also saying it would "cover all losses." Two analytics firms have attributed the incident to a North Korean hacking unit called TraderTraitor. Binance, which was founded in China in 2017, allows users to trade digital assets and is estimated to have more than 300 million registered users worldwide. Binance.US, which provides trading services specifically for American residents, said its platform is not affected by the incident.

 

AFP

Reuters

BBC News

The Trump administration has been sued by twenty-one U.S. states and the District of Columbia over its rollback of reporting requirements established under the 2021 Corporate Transparency Act ​aimed at combating illicit finance. The coalition of ​mostly Democratic-led states asked a federal court to overturn a rule finalized in August which exempted ‌U.S. companies and individuals from reporting beneficial ownership information to the Treasury Department's financial crimes unit. They said this was ​part of a broader push by the administration to curtail ⁠anti-corruption efforts. "The executive branch cannot repeal a law by rulemaking. That fundamental principle resolves ​this case," said the lawsuit filed in the U.S. District Court for the District ​of Oregon.

 

Reuters

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

The U.S. has banned imports from Chinese genomics giant BGI Group and two related entities, saying that the companies' goods are made with forced labor. The Department of Homeland Security said the companies partnered with the government in China's Xinjiang region to facilitate "the monitoring, surveillance and repression of ethnic minorities" through genetic testing. The companies deny the claims. The companies' addition to the Uyghur Forced Labor Prevention Act Entity List creates a presumption that their goods are made with forced labor and can’t enter the U.S. unless importers prove otherwise.

 

Bloomberg

A court in South Korea has dismissed a lawsuit by Tesla owners seeking full refunds for money paid for "Full Self-Driving" (FSD) driver-assistance software. The ​Seoul Central District Court ruled against the 88 plaintiffs, saying that the automaker had not breached its contractual obligations, finding that the FSD option did ​not promise fully autonomous driving without human intervention, and Tesla had already provided ⁠some of the functions included in the package. “The defendant was obligated to deliver autonomous driving features that are technically feasible within domestic and international regulatory and legal limits, and the plaintiffs were indeed provided with some features included in the FSD package,” Judge Kim Seok-beom said.

 

Bloomberg

Reuters

Gallup's latest polling reveals that U.S. employee engagement fell to 29% in Q3 2026, marking its lowest level since 2011. The decline, which was particularly concentrated among remote and hybrid workers, is attributed to organizations adopting artificial intelligence. Gallup's findings suggest that AI adoption may be outpacing necessary communication and managerial support, leading to increased disengagement among employees. Jim Harter, chief scientist for Gallup's workplace management and wellbeing practices, said: “The Q3 findings add to concerns about how well organizations communicate expectations and maintain employee connections across different work arrangements.” The data indicates that engagement has been on a downward trend since its peak of 36% in 2020, with significant declines in clarity of expectations and supervisor support. The psychological disconnect among workers raises concerns about productivity and overall morale. 

 

CNBC

U.S. federal debt held by the public reached $32.2tn, equivalent to 100.03% of GDP, at the end of September, up from 99.4% a year earlier and marking its highest level since 1946. The annual budget deficit approached $2tn, or 6.2% of GDP, as government borrowing continued to rise despite strong economic growth. The debt-to-GDP ratio has climbed sharply from 33.7% in 2000, driven by successive tax cuts, emergency spending, and rising Social Security and Medicare costs. The Congressional Budget Office expects net interest costs to increase by more than one percentage point of GDP over the next decade, while Social Security is projected to face insolvency in 2032 unless Congress intervenes. Higher-than-anticipated interest rates could further increase borrowing costs, adding pressure to an already challenging fiscal outlook.

 

ABC News

Wall Street Journal

The Commerce Department reported Thursday that U.S. inflation accelerated in September, with the Federal Reserve’s preferred personal consumption expenditures (PCE) price index rising 0.5% month over month, up from 0.3% in August, while annual inflation increased to 3.6% from 3.4%. Core PCE inflation, which excludes volatile food and energy prices, rose 0.3% monthly and 3.1% annually, highlighting persistent price pressures. Meanwhile, personal income growth slowed to 0.2% from 0.3% in August, falling short of economists’ expectations, while consumer spending increased 0.5%, down from 0.9% the previous month. The figures reinforce concerns about stubborn inflation following the Federal Reserve’s decision to hold interest rates steady, with markets anticipating a rate increase at its December meeting.

 

New York Times

Reuters

Wall Street Journal

A new report from the Institute on Taxation and Economic Policy (ITEP) has found that 114 large, profitable U.S. companies, including Citigroup, Tesla, and Walt Disney, paid no federal income tax in 2025, despite reporting billions of dollars in profits. The analysis of 706 publicly traded companies found that they collectively paid an estimated $196bn in federal income taxes on $1.88tn in profits, representing an effective tax rate of 10.4%, the lowest recorded by ITEP in more than 40 years and well below the statutory 21% rate. The report attributed the reduced tax burden to corporate tax breaks, including accelerated depreciation, which allows businesses to deduct capital investment costs more quickly. ITEP estimated that the companies benefited from $198bn in tax subsidies, with Alphabet, Microsoft, Amazon, and Meta receiving some of the largest benefits. While critics argue that these provisions reduce federal revenue and disproportionately benefit large corporations, supporters maintain that lower corporate taxes encourage investment, job creation, and economic competitiveness. Tax policy experts also cautioned that examining a single year can be misleading, as accelerated depreciation often defers tax payments rather than eliminating them permanently.

 

USA Today

Dockworkers in 22 countries are to strike today in a protest against war and the use of ports for ‌arms exports. The strike action, which was originally called by dockworkers' unions in Italy, France, Greece, Spain's Basque Country, Turkey and Morocco, is now supported by more than 25 unions in 113 ports. The Water Transport Workers Federation of India (WTWFI) is also supporting the strike, and about a dozen ports in India could be disrupted. Organizers say the strike could disrupt more than 40% of Mediterranean cargo and affect over $2bn worth of freight. "We will send our own message of peace from Piraeus, and we will show our solidarity with the peoples suffering from war,” said dockworkers at Greece's largest port.

 

Shipping Telegraph

Reuters

Australia’s corporate regulator, the Australian Securities and Investments Commission (ASIC), has instructed six major audit firms - KPMG, PwC, Deloitte, EY, BDO, and Grant Thornton - to develop action plans addressing shortcomings in audit quality, financial reporting, and independence practices. The directive follows findings that auditors failed to challenge management assumptions, obtain sufficient supporting evidence, and properly document compliance with ethical requirements. ASIC will monitor the effectiveness of the plans amid ongoing scrutiny of the industry, including an investigation into allegations that KPMG misused confidential client information to secure additional audit work. In September, the regulator disclosed that it was examining 551 complaints of potential misconduct involving the Big Four accounting firms.

 

Reuters

Spotify is reportedly targeting a first-quarter 2027 launch for an AI-powered music remix service that would allow premium subscribers to create personalized remixes and covers of existing songs. The company is considering charging an additional $4–$5 per month, with a potential unveiling around the Grammy Awards in February, although pricing and timing remain unconfirmed. Spotify has secured licensing agreements with Universal Music Group, Merlin, and Believe, while negotiations with Sony Music and Warner Music remain ongoing. Artists will retain the right to opt in, with royalties from AI-generated remixes flowing back to the original performers. However, resistance from some major artists could complicate adoption. The initiative forms part of Spotify's strategy to generate additional subscription revenue and support its target of mid-teens annual revenue growth through 2030. 

 

Financial Times

Reuters

Advances in artificial intelligence are threatening cryptographic security. Regulators are urging companies to update encryption methods and prepare for emerging technological risks from both AI and quantum computing.

 

Financial Times

Sanrio, the Japanese company behind Hello Kitty, has ended its collaboration with television spy drama Vivant and apologized following criticism in China over the program’s portrayal of wartime history. The controversy comes amid a prolonged diplomatic dispute between Beijing and Tokyo over Japanese prime minister Sanae Takaichi’s recent comments on Taiwan, which has strained bilateral trade relations. Despite tentative signs of rapprochement, including a joint business symposium and speculation over a potential meeting between Ms Takaichi and Chinese president Xi Jinping at next month’s Apec summit, analysts remain skeptical of an imminent breakthrough.  

 

Bloomberg

Financial Times

Global Times

South China Morning Post