Become more informed in minutes...

Chief information officers are increasingly recognizing cross-functional collaboration as a competitive advantage as technology becomes more closely integrated with business strategy. According to Foundry's 2026 State of the CIO survey, 83% of CIOs report that their roles are evolving to encompass both technology and business leadership, while Deloitte found that 65% reported directly to chief executives in 2025, up from 41% in 2015. However, challenges remain in aligning technology initiatives with broader organizational priorities, with Protiviti reporting that 61% of CIOs are confident in their digital transformation outcomes, compared with just 34% of CEOs and boards. Stronger collaboration between IT, finance, and other business functions can improve decision-making, accelerate innovation, and strengthen support for technology investments, particularly artificial intelligence. CIOs are encouraged to build trust through consistent delivery, communicate transparently about risks and costs, align stakeholders around measurable outcomes, and avoid micromanagement. These capabilities are becoming increasingly important as technology leaders assume greater responsibility for organizational transformation and long-term business performance.

 

CIO

Your game day Blackstone runs on BILL.

Every finance team has a game plan for fall: close the books, hit the forecast, and make it to kickoff on time. BILL helps Blackstone make time for it all. Take a 30-minute demo and see how BILL can use the same game plan for you and your team. To say thanks, we'll ship you a 28" Blackstone Omnivore Griddle, ready for the parking lot before the first snap.*

Request a Demo

*Terms and conditions apply. See offer page for details.

 

BDO has announced plans to consolidate its global network from more than 100 member firm units to approximately 40 over the next 18 to 24 months, aiming to strengthen investment capabilities and reduce the need for private equity funding. Newly-appointed global chief executive Trond-Morten Lindberg expects the number of units to fall to around 80 by the end of 2026, allowing larger regional groups to pool resources for technology, artificial intelligence, and business expansion. The strategy contrasts with rival accounting firms that have increasingly turned to private equity to finance acquisitions and growth. While BDO has advised member firms against accepting private equity investment, Lindberg has acknowledged that external funding could be considered if it preserves the network's independence and governance structure. The restructuring comes as accounting firms face growing pressure to invest in AI and adapt to changing market conditions. BDO operates more than 800 offices, employs over 90,000 people, and reported nearly $11bn in global revenue in 2025.

 

Bloomberg

Apple has warned that unprecedented increases in memory chip prices and rising AI operating costs will squeeze margins, despite forecasting Christmas-quarter revenue growth of 7%-10%, ahead of Wall Street expectations of 6%. On Monday the group reported a near 12% increase in quarterly net profit to $30.71bn, with revenue also rising nearly 12% to $114.48bn in the three months to September.  Growth was driven by strong demand for its latest iPhones, with sales increasing 17% to $57.58bn, supported by product upgrades, premium models and higher selling prices. Services revenue grew nearly 10% to $31.57bn, while Mac sales jumped more than 23% to $10.79bn. However, performance elsewhere was mixed, with iPad revenue declining more than 10% to $6.23bn and wearables sales falling nearly 5% to $8.3bn. Revenue in China increased 21% to $17.54bn but fell short of analyst expectations, despite Apple's continued strong position in the country's smartphone market. The company has warned that soaring memory chip prices, driven by demand from AI data centers, are putting pressure on profitability, alongside manufacturing constraints affecting chip production. Apple has sought to offset rising component costs through price increases across its product range, including a $100 increase for certain iPhone models and higher prices for Macs, iPads and subscription services.

 

Bloomberg

CNBC

Financial Times

New York Times

Anthropic has disclosed $895.4bn computing and infrastructure commitments ahead of its planned IPO, highlighting mounting costs despite continued revenue growth. The Claude developer reported third-quarter revenue of $17bn, up nearly 50%, while infrastructure spending surged 77% to $9.9bn, representing 58% of revenue. The company recorded a $567m operating loss, reversing a $974m profit in the previous quarter, although its net loss narrowed to $23.3bn from $66.2bn. Approximately $447.5bn of its infrastructure commitments are expected to be incurred by 2030, with investors anticipating an IPO valuation of $1.5tn-$2tn. Anthropic also warned that rapidly advancing AI capabilities could trigger additional safety requirements, adding regulatory and operational uncertainty as it prepares for a potentially record-breaking stock market debut.

 

City AM

Businesses are being urged to strengthen data quality governance as growing investments in artificial intelligence (AI), cloud infrastructure, and advanced analytics expose weaknesses in enterprise data management. Kartik Pillai, global head of data and AI at Pizza Hut, argues that technology investments alone cannot ensure reliable data without a clear operating model establishing ownership, accountability, and remediation procedures. Drawing on experience in a global quick-service restaurant business with more than 60,000 locations, Mr. Pillai advocates combining automated data monitoring with defined quality standards, business ownership, and service-level agreements. His proposed framework prioritizes critical data assets according to their operational importance, measuring accuracy, completeness, consistency, timeliness, validity, and uniqueness where appropriate. A hybrid governance structure, with centralized standards and accountability assigned to individual business functions, can help prevent inconsistent reporting, inaccurate profitability calculations, and unreliable AI outputs. Pillai emphasizes that organizations should prioritize their most important datasets, establish clear procedures for resolving errors, and improve collaboration between business and technology teams to strengthen confidence in enterprise data and maximize returns on AI investments.

 

CDO Magazine

U.S. construction spending fell 1.9% in September, reversing much of August’s upwardly revised 2.0% increase and missing economists’ expectations for a 0.3% gain. Spending declined 2.7% year over year, reflecting weakness in residential construction amid elevated material costs and rising mortgage rates. Private construction spending dropped 2.4%, driven by a 5.5% decline in residential projects, particularly renovations, while single-family housing investment remained unchanged. Mortgage rates have increased by at least 125 basis points since late February, adding pressure to housing demand and investment. Meanwhile, private nonresidential construction spending rose 1.1%, supported by a 1.2% increase in power plant projects. Public construction spending edged down 0.1%, as a 0.3% decline in state and local government investment offset a 2.5% increase in federal construction outlays.

 

Reuters

U.S. manufacturing activity has accelerated in October, with the Institute for Supply Management (ISM) index rising to 55.5 from 54.5 in September, marking its tenth consecutive month of expansion. The production index climbed to 59.0, its highest level in five years, supported by strong demand for computers, electrical equipment, and other goods linked to the artificial intelligence boom. New orders increased to 55.5 from 55.3, while manufacturing employment expanded for the fourth consecutive month. However, persistent inflation, elevated energy prices, tariffs, and supply shortages continue to constrain growth and delay deliveries. Manufacturers have reported sharp increases in equipment and material costs, with some prices doubling over six months. Despite robust demand and improving factory activity, business leaders remain concerned about economic uncertainty, supply chain disruptions, and sustained pricing pressures, which could complicate the Federal Reserve's efforts to control inflation.

 

Market Watch

Reuters

Research from the Federal Reserve Bank of New York indicates that many in-office workers feel isolated, in contradiction to corporate claims about the benefits of in-person collaboration. The study found that nearly half of the surveyed college-educated workers reported that their office days were filled with Zoom calls and Slack messages rather than meaningful interactions. “Days in the office often lack human contact,” the researchers observed, highlighting that 48.8% of respondents had no in-person meetings on their last office day. The disconnect is attributed to remote colleagues, geographical team spread, and lax enforcement of in-office mandates. The authors of the research, Natalia Emanuel and Emma Harrington, conclude that “a staggering share of the workforce experiences this form of in-office remote work.” They do not conclude employers should give up on in-office mandates; rather, they stress the importance of enforcing in-office policies to foster the face-to-face interactions that workers desire.

 

CNBC

Walt Disney plans to cut thousands of jobs and has asked some ​managers to target 20% in annual cost savings as CEO Josh D'Amaro seeks to navigate challenges including the growing use ​of AI, weaker box office revenue, increasing competition from ​streaming rivals, and a slowdown in ⁠the entertainment company's theme park and cruise ship businesses. Last month, Disney President Dana Walden said that “there is a need to constantly evaluate how you’re structured and how big is the organization. Technology set their sights on our business and we must survive and thrive and grow, and that’s what we’re going to do.”

 

Bloomberg

The U.S. government has filed a lawsuit which accuses Google of not giving an employee, Mark Davisson, his old job back or finding him a similar role after he took military leave as a U.S. Army reservist. Reuters says it's a rare instance of the government suing a private employer for violating the Uniformed Services Employment and Reemployment Rights Act ​of 1994 (USERRA), which protects the civilian employment of military personnel called to active duty. “We disagree with the claims in this complaint . . . Google takes ​compliance with employment laws, ⁠including USERRA, seriously and investigates allegations of workplace wrongdoing,” Google spokesperson Atle Erlingsson ​said. “Federal law ensures that our brave ⁠soldiers, who ​sacrifice so much to keep us safe, are not punished ​by employers when they return to the civilian workforce after completing their military service,” U.S. Attorney Jamie McDonald in Manhattan said ​in a statement.

 

DOJ.gov

Reuters

SEC enforcement director David Woodcock has told Reuters that the agency is monitoring AI companies' corporate disclosures amid growing investor concern about a potential bubble in the sector that ​may have been fueled by circular deals. "Our principal concern ⁠is that people are making accurate disclosures about material information so that investors know what they're getting into," ​Woodcock said. "Enforcement is a very necessary piece of making sure people are doing that." Where such disclosure ​does not occur, "then enforcement will be present," he added.

 

Reuters

Insurance analysts face pressure to downplay climate risks in pricing models, potentially breaching regulations and creating systemic risks in the industry, whistleblowers report.

 

Financial Times

Chinese regulators have reportedly instructed major securities firms and banks to slow initial public offering (IPO) activity and prioritize stabilizing the stock market amid economic weakness and concerns over slowing artificial intelligence investment. The China Securities Regulatory Commission is expected to continue processing existing IPO applications while temporarily suspending new submissions and discouraging large-scale shareholder sales. The measures follow a decline of more than 9% in the Shanghai Composite Index over two months, alongside significant share price falls at recently listed technology companies. To support market confidence, China's central bank has provided more than $10bn in liquidity-related operations and reduced certain lending rates from 1.25% to 1%. Regulators are also proposing more flexible share-buyback rules, while major technology companies, including DeepSeek and Yangtze Memory Technologies, continue preparing for potential listings.

 

Wall Street Journal

Canadian firm Fairfax Financial Holdings' proposed $5.5bn acquisition of IDBI Bank is encountering significant opposition from employees and political parties in India. The United Forum of IDBI Officers and Employees has announced a two-day nationwide strike, expressing “grave concerns” about the sale's transparency and valuation process. The forum is calling on the government to “cancel the privatization process” and prioritize strengthening the lender. Rahul Gandhi, leader of the opposition, supported the unions, stating: “Public banks are not assets to be sold off, they are tools to build the nation.” Finance Minister Nirmala Sitharaman defended the sale, asserting that IDBI Bank is being revived through “professionalism, prudence” and substantial recapitalization. The government claims the sale will be the largest foreign direct investment in India's financial sector.

 

CNBC

European supermarket operators have reported widespread refrigeration system failures across Sweden and Belgium, resulting in millions of euros worth of spoiled food, just weeks after similar incidents affected hundreds of supermarkets in France. Freezer temperatures at stores operated by Ica and Coop in Sweden reportedly surged to as high as 55°C, while supermarkets belonging to Ahold Delhaize in Belgium experienced comparable disruptions. The incidents follow suspected cyberattacks on French retailers, where refrigeration temperatures reportedly reached 80°C at one location. Affected Swedish stores have reported losing control of freezer temperatures, leaving significant quantities of food unsalvageable. Ahold Delhaize has confirmed an IT incident affecting refrigeration systems at several Delhaize stores and is assessing the impact. Despite the widespread nature of the attack, EU officials have said that Europe’s overall food security remains unaffected.

 

Dutch News

France 24

Financial Times

Reuters