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A report by Omega Systems reveals that 53% of chief financial officers in the financial services sector view keeping up with evolving cybersecurity regulations as a top concern, but many firms are hindered by legacy systems, limited budgets, and slow breach response times. Half still rely on outdated or on-premise infrastructure, and over one-third admit it would take more than a week to detect and contain a breach. The report also notes a disconnect between CFOs and chief information officers, with only 38% of CIOs sharing the same regulatory concerns, underscoring the lack of a unified approach to cybersecurity resilience.

 

CFO Dive

Make Cloud Spend Meaningful

Cloud costs are rising faster than most finance teams can explain. Traditional FinOps focuses on dashboards and savings targets, but it often misses the bigger question: why is the money being spent in the first place? Intent-aware FinOps reframes cost control around business value. It pushes CFOs to examine architectural promises – speed, resilience, security – and ensure every pound spent backs a defined outcome.

This playbook breaks the approach into four practical pillars. No jargon. No theory. Just the real habits used by high-performing teams to close the gap between cloud usage and business intent. Expect guidance on how to interrogate spend drivers, expose misaligned investments, and turn optimisation work into a strategic lever rather than a cost-cutting exercise.

For CFOs wrestling with cloud unpredictability, Intent-aware FinOps offers a route to clarity, stronger governance, and better forecasting.

Download the FinOps playbook

 

The West's effort to establish a domestic magnets supply chain is hindered by a shortage of heavy rare earth elements. MP Materials, the only U.S. rare earths mine, is facing challenges due to its low deposits of dysprosium and terbium, which are essential for high-temperature applications. Analysts observe that sourcing these elements may require international partnerships, which could take time. Despite recent government support, the West is projected to remain reliant on China for 91% of its heavy rare earth needs by 2030, highlighting the urgency of addressing this supply gap.

 

U.S. News

Airlines for America (A4A), representing major U.S. carriers, will urge Congress to permanently prevent aviation disruptions during government shutdowns by ensuring pay for air traffic controllers and key Federal Aviation Administration (FAA) staff. In a Senate hearing, A4A CEO Chris Sununu will cite the recent 43-day shutdown that disrupted 6 million passengers and 50,000 flights, calling it a “serious safety, human and economic” issue. FAA-imposed flight cuts on 40 airports caused 7,100 cancellations. Nick Daniels of the National Air Traffic Controllers Association will also support legislation, stressing families should not bear the cost of political gridlock. The FAA remains 3,500 controllers short of staffing targets.

 

Reuters

Target reported on Wednesday that sales in the third quarter ended November 1st fell 1.5% to $25.27bn, while profits dipped to $689m, or $1.51 per share, from $854m a year earlier. Analysts had expected profits of $1.71 per share on sales of $25.33bn. Comparable sales were down 2.7%, with food and beverage revenue gains offset by continued weaknesses in discretionary goods. “Target is really struggling and does not seem to be able to climb out of the hole it has dug itself into", commented GlobalData managing director Neil Saunders. "Stores are not optimized for the consumer. There are too many out-of-stocks, too much mess, not enough assistance at registers, and so forth". To address such concerns, incoming chief executive Michael Fiddelke said the the company will be investing around $1bn next year in store improvements, merchandise selection, and digital capabilities, taking total new investment to $5bn. “Mission 1 through 10 is to get back to growth for us", he commented. “If you’re frustrated with our recent performance, we are too".

 

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Wall Street Journal

McKinsey has promoted 224 individuals to partner this year—one of its smallest classes in recent years despite a slight rise from 2023’s total—reflecting tighter leadership standards following the firm’s pandemic-era expansion. The 2025 class includes a record 66 women and highlights the growing role of artificial intelligence, particularly through McKinsey’s QuantumBlack unit, while also recognising non-client-facing professionals as part of a broader operational shift.

 

Wall Street Journal

On Wednesday, the Federal Reserve published the minutes from October's meeting of the Federal Open Market Committee, revealing that many officials were hesitant about a December rate cut, with several preferring to keep rates unchanged despite the recent decision to lower them to 3.75%–4%. The discussion showed significant division among policymakers, though most supported eventual rate reductions. At the heart of the debate was a disagreement over how “restrictive” the current policy is for the economy. Some participants thought that even with the quarter-point cut policy was still holding back growth, while others saw that “the resilience of economic activity” indicated that policy is not restrictive.

 

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In August, the U.S. trade deficit decreased by 23.8% to $59.6bn, according to the Commerce Department. The report, initially set for release on October 7th, was delayed due to a government shutdown. Notably, U.S. imports fell by 5.1% to $340.4bn, marking the largest drop in four months. Goods imports tumbled 6.6% to $264.6bn; computers were up $2.3bn, but food was down $1.6bn. Exports saw a slight 0.1% increase, to $280.8bn. Exports of industrial supplies and materials, which also include crude oil, eased by $600m. Exports of motor vehicles, parts and engines decreased $400m, while shipments of capital goods increased $2.4bn to a record $62.4bn boosted by computers. The volatility in trade has affected economic activity measures, with the Federal Reserve Bank of Atlanta's GDPNow forecasting a contribution of 0.57 percentage points to third-quarter GDP from net exports. The report also highlighted a significant decrease in nonmonetary gold imports due to increased tariffs on Switzerland, which has since negotiated lower import duties.

 

Los Angeles Times

New York Times

Reuters

US News and World Report

Billions of dollars in new investments and growing financial ties between Saudi Arabia and the U.S. have been touted in Washington, coinciding with Saudi Arabian Crown Prince Mohammed bin Salman's first visit since 2018. bin Salman has promised to increase his country's U.S. investment to $1 trillion from a $600bn pledge he made when President Donald Trump visited Saudi Arabia in May. HUMAIN, a government-backed Saudi AI firm and Elon Musk's xAI will jointly develop data centres in Saudi Arabia, including a 500-megawatt facility.

 

Reuters

President Donald Trump has called for a unified federal standard for artificial intelligence regulation, warning that a “patchwork of 50 State Regulatory Regimes” could hinder innovation. He argued that inconsistent oversight threatens to “undermine this Growth Engine” and could allow China to surpass the U.S. in the AI race. Mr. Trump urged lawmakers to include the standard in the National Defense Authorization Act or pass it as a standalone bill. Since beginning his second term, he has prioritized AI advancement and ordered the creation of an AI Action Plan aimed at cementing U.S. global leadership and reducing regulatory barriers.

 

Reuters

EY has found that companies are missing out on up to 40% of potential AI productivity gains due to insufficient training and fragile talent strategies. Although 88% of employees use AI, only 5% deploy it in transformative ways, with just 12% receiving sufficient training. Shadow AI use remains prevalent, while concerns around skill erosion and rising workloads persist. The survey identifies a “Talent Advantage” among the 28% of firms effectively integrating people and tech strategies. Notably, employees receiving over 81 hours of AI training report higher productivity but are also 55% more likely to leave, underscoring a retention challenge.

 

AI Magazine

During a panel at the AICPA National Tax Conference on Tuesday, former IRS leaders discussed the agency's significant staffing challenges, with over 25,000 employees having left in recent months, representing more than 25% of the workforce. John Koskinen, former IRS commissioner, expressed concern about the impact on taxpayer service, saying: "I think the level of taxpayer service is going to be very difficult to deal with." Danny Werfel, another former commissioner, highlighted the importance of the now-terminated Direct File program, noting its legacy in modernizing taxpayer interactions. He urged the current administration to create a clear plan for digitizing the IRS experience. National Taxpayer Advocate Erin Collins also addressed the challenges posed by the recent government shutdown, emphasizing the need for patience as the IRS works through a backlog of cases.

 

Accounting Today

Journal of Accountancy

The European Union's General Court has dismissed a legal challenge filed by Amazon against its decision to designate the firm as a "very large online platform" and therefore subject to stricter regulations around advertising and content moderation. The online retailer had argued in court that marketplaces like the Amazon Store do not pose systemic risks.

 

Euractiv

Reuters

Wall Street Journal