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A study published earlier month in the Journal of Accounting Research which used artificial intelligence to analyze speech recordings of CEOs has helped to identify factors that could contribute to diagnosing mental health challenges among executives. Nargess Golshan, assistant professor of accounting at Indiana University and co-author of the study, said: “We want to really highlight mental health in leadership roles and how prevalent it is,” continuing: "Of course, it is important for the personal health of these executives, but also has far-reaching implications for the organization, the employees, the investors, and the broader economy.” Fortune notes that "Earnings calls are an optimal way to collect data because they feature long, uninterrupted periods of talking and usually aren’t confounded by visual communication cues like hand gestures." Among over 14,500 CEOs studied, more than 9,500 were classified as having depression using analysis from the machine learning model.

 

Fortune

The U.S. Federal Reserve has announced its withdrawal from the Network of Central Banks and Supervisors for Greening the Financial System (NGFS), saying the group's expanded focus exceeds its statutory mandate. The Fed, which joined the NGFS in 2020, said: "The Fed has a limited role to play" in climate policy, and stressed that such responsibilities lie with Congress. The decision came just days before President-elect Donald Trump, known for his skepticism towards climate policies, assumes office. Although the Fed has made some efforts to incorporate climate considerations into its operations, Chair Jerome Powell has consistently maintained that the central bank is not tasked with setting climate change policy.

 

Reuters

The Biden administration has issued proposed rules to limit duty-free imports under the $800 "de minimis" threshold, denying exemptions for low-value shipments of goods subject to other punitive U.S. tariffs. This is a setback for e-commerce firms like Shein and Temu, which exploit the de minimis threshold to ship millions of small packages daily to U.S. customers. The rules also require small package shippers to include 10-digit Harmonized Tariff Schedule classifications for exemption claims. The goal of the move is to ensure equal opportunities for American businesses and to uphold U.S. laws. 

 

Reuters

President-elect Donald Trump has announced plans to issue an executive order to delay the enforcement of a law banning TikTok in the U.S. TikTok was briefly taken offline due to the law, which requires the app to separate from its Chinese owner, ByteDance. Following Trump's statement on Truth Social, web-hosting companies like Oracle and Akamai restored TikTok for millions of users. However, TikTok's future remains uncertain as Apple and Google have yet to reinstate the app in their stores. Legal experts warn that the tech giants could face significant penalties if they assist TikTok before it complies with the law. Arkansas Senator Tom Cotton emphasized the potential liabilities, saying: "Any company that hosts, distributes, services, or otherwise facilitates communist-controlled TikTok could face billions of dollars of ruinous liability under the law." The situation continues to evolve amid ongoing discussions between TikTok and the incoming administration.

 

Missoulian

Los Angeles Times

NPR

Procter & Gamble faces a proposed class action lawsuit from eight consumers who allege the company misled Charmin buyers with false environmental claims. The lawsuit, filed in Seattle federal court, asserts that Procter & Gamble sources most of its wood pulp for Charmin from the Canadian boreal forest, employing harmful logging methods that contradict its environmental commitments, including the "Keep Forests as Forests" campaign. The complaint states: "The company must be held accountable for its egregious environmental destruction." The lawsuit seeks restitution and punitive damages for violations of consumer protection laws across 28 US states and Washington, D.C., and aims to prevent Procter & Gamble from making misleading environmental claims. In response to shareholder pressure, the company has pledged to enhance transparency regarding its wood-pulp suppliers by mid-2025.

 

Reuters

Southwest Airlines is facing legal action after being accused by U.S. authorities of illegally operating chronically delayed flights and disrupting passengers’ travel. The U.S. Transportation Department alleged that the airline operated unrealistic schedules. Transportation Secretary Pete Buttigieg said: "Today's action sends a message to all airlines that the department is prepared to go to court in order to enforce passenger protections." The carrier said in response: "In 2024, Southwest led the industry by completing more than 99% of its flights without cancellation." At this time it remains unclear whether the lawsuit will be pursued by the incoming administration of President-elect Donald Trump.

 

Reuters

Russian state-linked hackers, identified as Star Blizzard, have targeted government officials globally through deceptive emails which invite them to join WhatsApp groups. The U.K.'s National Cyber Security Centre (NCSC) has linked the hacking unit to the FSB, the principal security agency of Russia, saying it aims to "undermine trust in politics in the U.K. and likeminded states." Victims receive emails impersonating U.S. officials, leading them to click on a QR code that grants hackers access to their WhatsApp accounts. Microsoft observed: “The threat actor can gain access to the messages in their WhatsApp account and have the capability to exfiltrate this data.” Although the campaign appears to have slowed, Microsoft advises vigilance against such phishing attempts, especially for those in targeted sectors.

 

The Guardian

A technical issue with a third-party vendor has been cited as the reason for a disruption experienced by Capital One customers which saw thousands unable to log in to their accounts for much of the past week. The  McLean, Va.-based credit card and banking firm issued a statement on social media on Thursday which said the issue was “temporarily impacting some account services, deposits, and payment processing for portions of our consumer, small business, and commercial bank.” The company confirmed on Saturday that it had restored full account functionality and processed outstanding transactions for the majority of customers.

 

New York Times

Alipay is to bear the cost of a system error that applied discounts to user transactions. The system error applied a 20% ‘government subsidy’ to an undisclosed number of transactions on Thursday, users say. The error was caused by a back-end misconfiguration in the app’s promotional campaign, and applied an “immediate deduction” to the value of payment on certain user transactions made on that day, according to Shanghai-based Alipay’s statement on Chinese microblogging service Weibo.

 

South China Morning Post

Starbucks has announced that it anticipates cutting jobs as part of a larger initiative to operate more effectively. Chief Executive Brian Niccol said that the job cuts will be disclosed by early March and won't impact in-store workers. Niccol explained that the corporation is to cut down on silos and duplications of effort because having too many managers and coordinators may be slowing the running of the chain. However, he did not specify how many cutbacks would be made. The action is a component of the "Back to Starbucks" plan, which Niccol has promoted as a means of bolstering the business in the face of declining sales.

 

Wall Street Journal

The Teamsters union has announced that members at Costco Wholesale have voted overwhelmingly in favor of a nationwide strike, with 85% supporting the decision. The vote came as negotiations for a new contract approach a critical deadline of January 31. The union said: "The vote is a direct result of the company's continued failure to bargain constructively." The final week of negotiations is set to begin today, as the union seeks to secure better terms for over 18,000 workers. Costco is yet to comment on the situation.

 

Reuters

Thirteen state attorneys general and a group of more than 30 shareholders representing $266bn in funds have urged Walmart chief executive Doug McMillon to rethink the company's recent decision to roll back its diversity, equity, and inclusion (DEI) initiatives. In a public letter, the officials expressed concern over Walmart's closure of its Center for Racial Equity, the cessation of equity training, the phasing out of supplier diversity programs, and the removal of the terms "diversity" and "DEI" from company documents. The letter highlights the significant implications of these changes on the company's commitment to equity and inclusion. Illinois Attorney General Kwame Raoul, a Democrat, said: “There could be economic pressure from the other side of things which is, quite frankly, the majority of the United States. Women and minorities buy as well, have purchasing power as well." He added: “On the heels of George Floyd’s murder, Walmart had stepped forth and said that we’re making a commitment to the very thing that they’re now abandoning. So I question how genuine that commitment was."

 

The Hill

The Baltimore Sun

Bloomberg

The Food and Drug Administration (FDA) has decided that Philip Morris International’s Zyn, America’s most popular nicotine pouch, can stay on the market, saying the product's benefit as a safer alternative for adult cigarette smokers outweighed its potential risk to young people. The FDA said Zyn pouches pose lower risk of cancer and other serious health conditions than cigarettes or traditional dipping tobacco. The Wall Street Journal notes that Zyn has been at the center of the culture wars, "with liberals raising alarm bells that it was attracting teenagers and conservatives touting it as a way to save smokers’ lives." Tom Hayes, president of Philip Morris unit Swedish Match North America, said the FDA’s decision was “an important step to protect the public health by providing better alternatives to cigarettes and other traditional tobacco products for adults” 21 and older.

 

Wall Street Journal