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Rev. Al Sharpton will today lead a protest march on Wall Street, urging corporate America to resist the Trump administration's efforts to roll back diversity, equity, and inclusion (DEI) initiatives. The march coincides with the anniversary of the 1963 March on Washington. Sharpton said that DEI represents the “civil rights fight of our generation.” In response to the administration's actions, his group, the National Action Network, is encouraging consumers to boycott retailers that have reduced DEI programs. Sharpton has also called for “buy-cotts” in support of companies like Costco that maintain their DEI commitments. The march will begin at Foley Square and is expected to attract various political figures, including New York City mayoral candidates.

 

US News and World Report

Washington Post

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European banks have seen widespread unauthorized direct debits from PayPal accounts, according to the German Savings Banks Association (DSGV). The German newspaper Sueddeutsche Zeitung said payments worth in the region of €10bn ($11.67bn) have had to be blocked after PayPal's fraud-checking system failed. It said payments were paused on Monday when lenders reported millions of suspicious direct debits from the payment firm. The DSGV confirmed to the BBC there had been "incidents involving unauthorized direct debits initiated by PayPal against various credit institutions."

 

BBC News

Pablo Hernandez de Cos, the new General Manager of the Bank for International Settlements (BIS), has emphasized the critical need for central bank independence and accountability in his inaugural speech. He highlighted the importance of maintaining a clear mandate for price stability and warned against political interference, particularly in light of recent criticisms directed at the U.S. Federal Reserve by former President Donald Trump. De Cos also pointed out the shared challenges facing global economies, such as inflation and geopolitical tensions, underscoring the necessity for robust frameworks to navigate these uncertainties.

 

Reuters

The U.S. Department of Commerce has confirmed anti-dumping and countervailing duties against ten countries following investigations into corrosion-resistant steel products, affecting approximately $2.9bn in imports. The countries involved include Australia, Brazil, Canada, Mexico, the Netherlands, South Africa, Taiwan, Turkey, the United Arab Emirates, and Vietnam. Under Secretary of Commerce for International Trade William Kimmitt said that these measures aim to ensure fair competition for American steel companies and workers, with the International Trade Commission set to assess any injury to the domestic steel industry.

 

Reuters

Members of the United Auto Workers (UAW) union at GE Aerospace's Evendale, Ohio, plant will strike starting Thursday after contract negotiations failed. UAW President Shawn Fain announced the decision in a video. The strike also affects a GE distribution facility in Erlanger, Kentucky. The action reflects ongoing labour unrest in the aerospace sector, where unions are advocating for better pay and job protections. The local chapter represents over 600 workers, who voted for a strike if no agreement was reached by August 27. GE Aerospace has not commented on the situation.

 

U.S. News

According to a study by Stanford University, entry-level employment in the U.S. has dropped by 13% in fields most affected by artificial intelligence, such as software development and customer service. The research, co-authored by economist Erik Brynjolfsson and researchers at Stanford's Digital Economy Lab, highlights that while entry-level positions are declining, employment trends for experienced workers in these fields have either remained stable or improved. The study indicates that "drops in employment are most common for jobs where AI is most likely to automate human work." The findings, based on data from Automatic Data Processing Inc., suggest that the rapid adoption of AI technologies is reshaping the job market, particularly for younger workers aged 22 to 25.

 

Los Angeles Times

Two Microsoft employees were dismissed after participating in a sit-in at the office of President Brad Smith to protest the company's ties to Israel amid the ongoing conflict in Gaza. The employees, Anna Hattle and Riki Fameli, were informed of their termination due to "serious breaches of company policies." Hattle had said: "We are here because Microsoft continues to provide Israel with the tools it needs to commit genocide." The protest group No Azure for Apartheid demands that Microsoft sever its ties with Israel and pay reparations to Palestinians.

 

U.S. News

The Net-Zero Banking Alliance (NZBA) faces a pivotal vote on its future structure after a significant withdrawal of members. Major banks, including Goldman Sachs and JP Morgan, have left the group, having been influenced by a shift in attitudes towards environmental, social, and governance (ESG) policies following President Donald Trump's election. The NZBA said it aims to continue to support banks in their transition efforts despite the exodus. The new structure is expected to be determined by the end of September.

 

The Daily Telegraph

The Times

City AM

Kristin Johnson, the only Democratic commissioner of the U.S. Commodity Futures Trading Commission (CFTC), announced her departure from the agency effective September 3, 2025. Her exit comes amid a leadership transition at the CFTC, which is expected to enhance its oversight of emerging markets, including cryptocurrency. Johnson emphasized the importance of maintaining financial stability while pursuing growth, as the agency currently operates with only two commissioners, with the other being a Republican.

 

Reuters

Apple has expressed concerns over proposed U.K. competition regulations, saying they could harm users and developers. The company argues that similar E.U. laws have delayed features for European users. Apple claims the U.K.'s Competition and Markets Authority (CMA) risks repeating these mistakes, which could undermine privacy and security. The CMA, however, insists its rules differ from the E.U.'s and aim to foster innovation. It has found that Apple and Google dominate the U.K. mobile market, leading to proposed changes that would allow app developers more freedom to make products interoperable with Apple technology.

 

BBC News

Meta has announced the creation of a political action committee in California to support candidates who advocate for less stringent regulations on artificial intelligence. The initiative aims to influence the upcoming 2026 governor race and ensure that the regulatory environment does not hinder AI innovation. Meta plans to invest tens of millions of dollars in this effort.

 

Reuters

Susan Monarez, the director of the Centers for Disease Control and Prevention (CDC), is being ousted from the position less than a month after being sworn in. In a statement, the CDC said Monarez was "not aligned with the president's agenda." The U.S. health department earlier announced her departure, which prompted a statement from Monarez's lawyers who said she had not been told of her removal and she would not resign. They said Monarez was being targeted for refusing "to rubber-stamp unscientific, reckless directives and fire dedicated health experts," and accused Health Secretary Robert F Kennedy Jr of "weaponizing public health."

 

Washington Post

The growing presence in reinsurance of private investors including hedge funds and family offices threatens to destabilize the market for catastrophe cover, Munich Re director Stefan Golling tells the Financial Times.

 

Financial Times

Air pollution from oil and gas causes 91,000 premature deaths annually in the U.S., according to a study published in Science Advances. The research highlights significant health disparities, particularly affecting Black, Asian, Native American, and Hispanic communities. It estimates 10,350 pre-term births and 216,000 new childhood asthma cases each year due to this pollution. Eloise Marais, the study's senior author, said: "What our study does is ensures that we can provide really rigorous evidence of the size of the impact." The findings suggest immediate health benefits could arise from reducing reliance on fossil fuels.

 

Time.com