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In the third quarter of 2025, activist investors launched a record 61 campaigns, a significant increase from 36 in the same period last year, indicating a robust trend in corporate activism. Notably, Elliott Investment Management led the charge with nine new campaigns, while overall, activists secured 98 board seats and saw a nearly 50% rise in settlements in the U.S. This surge in activity has also resulted in a notable increase in chief executive departures, with 25 resignations recorded so far this year, approaching last year's total of 27.

 

Reuters

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Activist investor The Accountability Board has filed a shareholder proposal calling on Target to amend its bylaws to require an independent board chair who hasn't been an executive at the company in the past three years. The filing is a response to Target's plan for Brian Cornell to become executive chair when he steps down as chief executive and is succeeded by Michael Fiddelke in February. The group argues that keeping Mr Cornell on the board blurs the lines between management and oversight. In response, Target said it will consider the proposal for its 2026 annual shareholders meeting.

 

Minnesota Star Tribune

John North has been named as dating app Grindr's new chief financial officer. The former chief executive of Lazydays Holdings will succeed Vanna Krantz, who oversaw the company's transition to a publicly-listed company in 2022.

 

Reuters

Companies in the private sector lost 32,000 jobs in September, according to a new report from payrolls processing firm ADP, the biggest decline since March 2023. Economists surveyed by Dow Jones had been looking for an increase of 45,000. Education and health services gained 33,000 positions, while natural resources and mining added 4,000 roles, and information gained 3,000. Conversely trade, transportation, and utilities lost 7,000 jobs, while construction and manufacturing shed 5,000 and 2,000, respectively. Wages in September grew 4.5% on an annual basis, little changed from August, while the rate of increase slowed to 6.6% for those changing positions. The ADP data is set to be the highest profile labor report this week, as the government’s September employment numbers, scheduled for Friday, will be delayed given the shutdown.

 

Bloomberg

CNBC

Fox News

Wall Street Journal

The Institute for Supply Management's U.S. manufacturing index for September reveals that factory activity shrank in September for a seventh consecutive month. It rose 0.4 point to 49.1, remaining below the 50-mark separating expansion from contraction. The orders index slid 2.5 points to 48.9. Five industries expanded last month, but eleven shrank, including wood products, apparel, plastics and rubber, and paper. “Regarding output, the production and employment indexes improved, though 64% of panelists’ comments still indicated that managing head count is still the norm at their companies, as opposed to hiring,” commented Susan Spence, chair of the ISM Manufacturing Business Survey Committee. Separately, the S&P Global U.S. Manufacturing PMI fell from 53 in August to 52 in September.

 

Bloomberg

North American financial executives are increasingly optimistic about their companies' future, according to Deloitte's latest CFO Signals report. Some 90% of the 200 chief financial officers surveyed expressed a positive outlook, a significant rise from 48% in the previous quarter. John Goff, a senior manager in Deloitte's chief financial officer program, said the shift in sentiment comes despite ongoing concerns about talent shortages.

 

Bloomberg Tax

White House spokeswoman Karoline Leavitt has said federal workers could start losing their jobs imminently as the U.S. government shutdown continues. "The president has directed his Cabinet and the Office of Management and Budget is working with agencies across the board to identify where cuts can be made and we believe that layoffs are imminent," Leavitt said. Vice President JD Vance nevertheless insisted no final decisions have been made about whether certain workers will be laid off or furloughed, although he acknowledged the situation could escalate quickly into layoffs if the shutdown drags on.

 

Reuters

USA Today

Google has reported that hackers have sent extortion emails to an unspecified number of executives, claiming to have stolen sensitive data from their Oracle business applications. The emails are said to be linked to a group associated with the ransomware gang cl0p, although Google said it "does not currently have sufficient evidence to definitively assess the veracity of these claims." The tech giant described the email campaign as "high-volume" but did not provide further details on the situation.

 

Reuters

Fewer boards are planning to enhance diversity, equity, and inclusion, according to a recent survey by PwC. Only 9% of directors intend to increase gender diversity, a significant drop from 21% last year. Racial diversity plans are even lower, with just 6% of respondents indicating intentions to add racial diversity, down from 13% in 2024. The survey included responses from 638 public company board directors.

 

Bloomberg Tax

Bloomberg reports that Apple has paused work on a planned overhaul to its Vision Pro headset in order to focus on developing smart glasses that can rival products from Meta. The Cupertino-based company had been readying a cheaper, lighter variant of its headset for release in 2027, but has now redirected resources to the smart glasses projects. The first, known as N50, will pair with an iPhone and lacks its own display. It could be unveiled as soon as next year. The second will include a display. They are expected to come in a variety of styles and run a new chip. They’ll include speakers for music playback, cameras for media recording, and voice-control features that will work with a connected phone.

 

Bloomberg

Reuters

Yahoo is reportedly in advanced negotiations to sell AOL to the Italian tech company Bending Spoons for approximately $1.4bn, marking a significant shift for the legacy media brand. Bending Spoons, known for acquiring and revitalising struggling tech firms, aims to enhance its portfolio by adding AOL's extensive user base and revenue-generating services, which include advertising and subscription offerings. The potential deal follows Bending Spoons' recent acquisitions and positions the company as a strong candidate for an initial public offering in the future.

 

Reuters

Washington's new sales tax on services, part of Senate Bill 5814, is set to generate an estimated $3.6bn over the next two years to address budget shortfalls. The law, which includes tax increases on financial institutions and various services, is expected to bring in $1.1bn in the current budget cycle and $2.6bn over four years. However, Comcast is challenging the legality of the sales tax on advertising services, which could yield $475m over four years. "A block on the tax would throw a major kink into the $77.8bn budget," a state Department of Revenue spokesperson noted. The law also introduces new taxes on nicotine products and raises fees for driver's licenses, aiming to address funding gaps in transportation and state services.

 

The Columbian