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The United States Trade Representative has proposed imposing additional tariffs of 10%-12.5% on imports from 60 economies, including the European Union and the U.K., arguing that their failure to adequately restrict goods produced using forced labor places U.S. businesses and workers at a competitive disadvantage. Under the proposal, the E.U., Canada, Mexico, Indonesia, Ecuador, and Pakistan would face an additional 10% tariff due to alleged shortcomings in enforcing existing restrictions, while the U.K. and 53 other economies, including Japan, India, Switzerland, and Saudi Arabia, would face a 12.5% tariff for not having effective bans in place. The proposed measures, which remain subject to consultation and review, could reignite trade tensions with key U.S. partners just weeks after the E.U. agreed a trade framework with Washington that capped tariffs on most E.U. exports at 15%. The investigation was conducted under Section 301 of the Trade Act of 1974, providing an alternative legal basis for tariffs after U.S. courts ruled against the Trump administration’s earlier use of emergency powers to impose broad trade duties.

 

CNBC

Financial Times

Reuters

Wall Street Journal

Infrastructure Face Off: On-Premises vs. Cloud

A concise comparison of on-premises and cloud infrastructure options for organizations running SAP workloads.

This infographic outlines the operational and financial case for migrating SAP environments to the cloud, covering cost predictability, security, compliance, and scalability. It draws on NTT DATA's experience as an SAP-certified partner and positions Microsoft Azure's global infrastructure as the underlying platform for organizations looking to reduce the burden on internal IT teams while maintaining reliability.

The resource addresses how a single consolidated fee structure — covering infrastructure, support, backups, and upgrades — can free IT resources to focus on higher-value work.

Download free

 

Tech companies are investing heavily in data centers, with Alphabet planning an $80bn equity raise. However, construction delays pose challenges, as over 60% of the planned capacity for 2027 is not yet under construction. Google is addressing these bottlenecks by securing its own power sources and developing strategies to connect more rapidly to the grid. This approach may provide a competitive edge in the AI race, as tech giants collectively increase capital expenditures, aiming for $670bn this year. The market's response to Google's equity raise reflects uncertainty around future capital needs.

 

Wall Street Journal

U.S. job openings surged to 7.6m in April, the highest level since May 2024 and well above expectations, signaling stronger labor demand even as hiring activity slowed and worker mobility weakened. According to the Labor Department's’ Job Openings and Labor Turnover Survey (JOLTS), available positions increased by 731,000 from March, far exceeding economists’ forecasts of 6.8m. The rise pushed the number of job openings above the total number of unemployed workers, with the openings rate climbing to 4.6% of the labor force. The increase was driven primarily by professional and business services, which added 668,000 openings, while healthcare and social assistance contributed another 89,000. Financial activities saw a decline of 134,000 openings, with most other sectors showing little change. Despite the rise in vacancies, hiring weakened. Employers hired 5.12m workers during the month, down 419,000 from March, reducing the hiring rate to 3.2%. Layoffs and discharges also declined modestly to 1.7m, while voluntary quits fell by 183,000 to just under 3m, their lowest level since August 2020, indicating reduced worker confidence in finding new opportunities.

 

CNN

Bloomberg

CNBC

Wall Street Journal

The USO union at Colombia's state-run oil company Ecopetrol initiated a 24-hour strike on Tuesday due to stalled negotiations over a new collective bargaining agreement. Union president Martin Ravelo stated that after 25 days of talks, there has been no progress on their demands. The union, representing 25,000 workers, is seeking a pay increase equal to inflation plus 20% in the first year, followed by inflation plus 10% for the next four years, along with improved health and education benefits.

 

U.S. News

Artificial intelligence is significantly changing the hiring landscape, impacting both employers and job seekers. As Pattie Hunt Sinacole noted: "AI tools are designed to narrow that pool, so a recruiter can engage with fewer, more qualified candidates." Approximately 30% of employers are now utilizing AI in their hiring processes, which includes résumé screening and chatbot interviews. While AI can streamline candidate selection, concerns about bias and privacy are rising. Critics argue that AI may disadvantage non-native English speakers and those with disabilities. Additionally, job seekers are increasingly using AI to enhance their applications, leading to worries about authenticity. Experts suggest that AI should complement, not replace, human judgment in hiring to ensure a positive candidate experience. Regular evaluation of AI's role in hiring is essential to address these challenges.

 

Boston Globe

UKG research estimates the World Cup could cost global employers $17bn in lost productivity, as 37% of workers plan to change their schedules during the tournament. The survey of 8,000 employees across eight countries found 27% may arrive late, leave early or miss work, while 14% expect to secretly stream matches during work hours. The expanded tournament, hosted by the U.S., Canada and Mexico, will feature 48 nations and 104 games. Suresh Vittal, chief product officer at UKG, said: “Productivity drops, customer experience suffers, and morale takes a hit.”

 

U.S. News

The OECD has downgraded its global economic outlook, warning that the ongoing U.S.-Iran conflict and disruptions to energy supplies could significantly weaken growth, raise inflation, and increase recession risks if a lasting resolution is not reached soon. In its latest Economic Outlook, the organization forecast global growth will slow from 3.4% in 2025 to 2.8% in 2026, before recovering modestly to 3.1% in 2027, assuming energy market disruptions ease during the second half of the year. However, under a more severe scenario in which shipping disruptions in the Strait of Hormuz and damage to Gulf energy infrastructure persist through 2027, global growth could fall to 2.1% in 2026 and 1.8% in 2027, pushing some economies into or close to recession. The OECD warned that prolonged supply disruptions would drive higher energy, food, and industrial input costs, lifting global inflation by up to 1.3 percentage points in 2027, while weakening investment, increasing unemployment, and creating additional risks for financial markets.

 

CNBC

Reuters

Seagate Technology has agreed to a $175m settlement to resolve shareholder claims that it misled investors regarding hard-drive sales to Huawei and its compliance with U.S. export-control laws. The case, involving chief executive Dave Mosley and chief financial officer Gianluca Romano, alleged that the company concealed legal risks associated with sales to Huawei after U.S. restrictions tightened, leading to inflated stock prices. The settlement highlights the growing intersection of trade compliance and securities litigation, as export-control issues increasingly become grounds for shareholder claims. Legal professionals are reminded that export-control compliance must be integrated into disclosure governance and board oversight. If approved, this settlement will mark a significant moment for Seagate, but it may not be the last case addressing securities law related to sanctions and export-control exposure.

 

Legal Tech Monitor

Mexican authorities have arrested Gabriel "N", also known as "Gabito" or "80," an alleged cartel figure linked to the killing of 10 individuals associated with Canadian miner Vizsla Silver. The arrest occurred in Sinaloa during a joint operation involving the army, National Guard, and local security forces. The incident highlights the security risks faced by mine workers and foreign companies in Mexico. Vizsla Silver, which is developing a silver project in the region, has been cooperating with authorities in the investigation and recently resumed field activities at its Panuco project. The case emphasizes the ongoing security challenges in Mexico's mining sector, a vital source of silver and other metals for global markets.

 

U.S. News

Chicago Mayor Brandon Johnson's administration is under scrutiny due to ties between his aides and EKI-Digital, a consulting firm at the center of a contracting scandal. Michael Belsky, Johnson's comptroller, and former chief operating officer John Roberson both have connections to EKI, which is accused of submitting nearly $10m in questionable invoices. Johnson dismissed the issue as a “previous mayoral administration” problem, referring to Lori Lightfoot's tenure. However, Roberson was involved in approving payments to EKI despite concerns. The inspector general's report revealed that a former senior staff member solicited a job for their child from EKI's president, leading to unauthorized work and billing irregularities. The report recommended banning EKI, now known as Quant16, from future city contracts, a proposal that Johnson's aides are currently considering.

 

Chicago Sun Times

Humanoid robots are projected to grow into a $200bn market within the next decade, according to Barclays. Zornitza Todorova, head of thematic FICC research at Barclays, stated: “It's the decade of the robot,” highlighting the rapid evolution of humanoid technology. Currently valued at $2bn-$3bn, the market is expected to expand significantly as robots take on roles in sectors like manufacturing and logistics. China leads in this field, accounting for 85% of global installations and producing robots at lower costs than Western competitors. Dan Ives from Wedbush Securities noted that humanoid robots could represent a major opportunity in the AI Revolution, predicting that “this will change the way consumers and businesses operate over time.” The report anticipates two waves of deployment, with the first focusing on industrial applications and the second on services-oriented roles post-2030.

 

CNBC

Uber Technologies has introduced spending limits on AI tools for its employees, capping monthly usage at $1,500 per tool. The decision follows the company exceeding its AI budget earlier this year. An Uber spokesperson said: “We think this is all a pretty straightforward way to responsibly encourage agentic AI adoption and experimentation at scale across the company.” The limits apply to specific coding software, and employees can request permission to exceed their caps. Chief technology officer Praveen Neppalli Naga noted that Uber had already maxed out its full-year AI budget, while chief executive Dara Khosrowshahi mentioned that AI agents contributed to about 10% of the company's code. The company is also moderating its hiring pace due to the benefits of AI tools, although chief operating officer Andrew Macdonald expressed uncertainty about whether this will lead to more consumer features in the future.

 

Los Angeles Times