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JPMorgan Chase chief executive Jamie Dimon says he would welcome proposed changes to ease the SEC's quarterly earnings report requirements. "The bigger problem wasn't just reporting quarterly. It was forecasting, where CEOs get their back up against a wall. They have to meet these things - earnings - and then they start doing dumb stuff to meet earnings, and that kind of public pressure," Mr. Dimon said in a Bloomberg interview. President Donald Trump last month renewed a call, which he first made in 2018, that U.S. companies should be allowed to report earnings every six months instead of on a quarterly basis.

 

Bloomberg

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Three candidates are vying to lead EY in the U.S. as the Big Four accounting firm seeks to turn the page on a period of strategic infighting and sluggish growth. Julie Boland, the incumbent, faces mandatory retirement next June, and is likely to be succeeded by either Dante D’Egidio, vice chair for assurance for EY Americas, audit partner Alex Bender, or Shawn Smith, EY Americas’ financial services leader. The firm’s governing board steers the nomination process but partners will ultimately vote on who will get the job

 

Bloomberg Tax

Financial Times

Plante Moran has named Kate Barnes as its new chief financial officer. She has over 25 years of experience in accounting and finance, previously serving as the firm’s controller.

 

Crain's Detroit Business

President Donald Trump’s tariffs will cause a sharp slowdown in the growth of global goods trade in 2026, but the full impact of US trade policy will be felt later than previously thought, the World Trade Organization (WTO) has said. It now anticipates that goods trade will grow at just 0.5% in 2026, compared with an initial prediction of 2.5% in its April forecast. For 2025, it sees trade rising 2.4%, up from a prior forecast of 0.9%. “The tariffs have a significant effect. It’s just the timing that has changed,” said Marc Bacchetta, the WTO’s chief economic modeller. In the first half of 2025, world merchandise trade volume, measured by the average of exports and imports, increased by 4.9% year-on-year, with trade value rising 6% compared to 2% growth in 2024, according to the WTO report. The rush of exporters to send goods including machinery, motor vehicles, and lumber to the U.S. before the tariff increases, alongside a surge in demand for AI-related products, contributed to this growth, the report found.

 

Financial Times

New York Times

Reuters

U.S. consumer borrowing rose in August at the slowest pace in six months, the Federal Reserve reported on Tuesday, stymied by a pullback in credit-card balances. Total credit outstanding rose by $363m, significantly below both the revised $18.1bn gain seen in July, and the $14bn increase expected among economists surveyed by Bloomberg. Revolving debt such as credit cards dropped around $6bn, while nonrevolving credit, such auto loans and school tuition, rose $6.3bn. The Fed’s report showed the average rate on credit-card accounts with assessed interest was 22.8% as of August, the highest this year. A separate report, from the Federal Reserve Bank of New York, found that consumers expect inflation to be higher in the year ahead, and fewer expect their households’ financial situations to be better off a year from now. Household spending growth expectations also declined

 

Bloomberg

CNBC

Market Watch

Nvidia chief executive Jensen Huang has reiterated his support for President Donald Trump's H-1B fees in an internal message to staff. The company will continue to sponsor H-1B visas and "cover all associated fees," Huang wrote. "As one of many immigrants at Nvidia, I know that the opportunities we've found in America have profoundly shaped our lives," he wrote. "And the miracle of Nvidia - built by all of you, and by brilliant colleagues around the world - would not be possible without immigration."

 

Business Insider

Ransomware group Qilin has claimed responsibility for the cyberattack on Asahi Group which caused severe disruption to production at the Japanese beverage firm. Qilin first emerged in 2022. It operates a ransomware-as-a-service platform that allows users to carry out attacks in exchange for a percentage of extortion proceeds, and said it had stolen more than 9,300 files, or roughly 27 gigabytes of data. The Asahi Super Dry maker has restarted at least six of its 30 factories in Japan after the cyberattack paralyzed distribution and forced a halt to most of the company’s domestic production last week. Asahi officials said they will analyze the responsibility claim, which was posted on the dark web, and consider how to respond.

 

Bloomberg

CNA

Japan Times

Nippon

Salesforce has confirmed it will not pay a ransom to hacking group ShinyHunters, which claims to have stolen client data via a breach of the third-party Drift app from SalesLoft. Most of the data, taken between August, 8th-15th, involved customer contact details, access tokens, and IT configuration info; it was later compiled and listed for sale on a cybercrime forum. Salesforce said its core platform was not compromised, and integrations with SalesLoft have been re-enabled, excluding Drift.

 

Bloomberg

Ikea has announced the acquisition of US logistics technology firm Locus for an undisclosed sum. Locus, which uses artificial intelligence to group orders and predict routes that minimise the time delivery vehicles spend in traffic, was valued at $300m in its most recent funding round in 2021. The Swedish firm said the deal will help reduce its delivery expenses by an estimated €100m ($117.41m) a year globally.  

 

Reuters

Anglo American has defended its due diligence on a $50bn mega merger with Teck Resources after the Canadian miner once again cut output guidance for its flagship copper mine in Chile. “Anglo American is fully supportive of Teck’s more measured approach to the ramp up of Teck’s Quebrada Blanca operation over the next few years,” Anglo said in a statement on Wednesday.

 

Bloomberg

Financial Times

OpenAI and Anthropic are exploring the use of investor funds to settle potential multibillion-dollar lawsuits, as insurers balk at providing comprehensive coverage for the risks associated with artificial intelligence.

 

Financial Times

OpenAI chief executive Sam Altman is on a financing tour in East Asia and the Middle East, seeking partnerships to enhance the company's computing capacity amid rising demand. Since late September, he has engaged with major tech suppliers, including Taiwan Semiconductor Manufacturing, Foxconn, and Samsung, urging them to prioritise OpenAI's chip production and increase capacity. Additionally, Altman plans to meet investors in the United Arab Emirates to secure funds necessary for OpenAI's infrastructure expansion, which could involve spending around $16bn on computing servers in the current year alone.

 

Reuters

AlixPartners has halted its stake sale process after failing to secure satisfactory bids, despite a booming market for professional services firms.

 

Financial Times

Prosecutors in France are investigating Apple and its voice assistant Siri after receiving a complaint from tech subcontractor Thomas Le Bonniec which accused the company of illicit data collection. The investigation should enable “urgent questions to be answered”, Mr Le Bonniec told Politico. Among them, “how many recordings in total have been made by Apple since 2014? How many people are affected? Where is this data stored?” he said. An Apple representative in France told Politico: “Apple has never used Siri data to create marketing profiles, has never made it available for advertising and has never sold it to anyone for any reason whatsoever”.

 

Politico

Qualcomm is contesting a £480m ($646.8m) London lawsuit brought on behalf of smartphone owners, which alleges the chipmaker has abused its dominant position to force Apple and Samsung to pay inflated royalties. A U.K. consumers' association by the name of Which? is bringing the case. Lawyers representing Which? say around 29 million people who bought iPhones or Samsung devices since 2015 are entitled to compensation. The lawsuit contends that Qualcomm made the manufacturers pay inflated royalties even if its chips are not used in a device under a worldwide so-called no licence, no chips policy.

 

U.S. News

London Evening Standard