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Some of the largest U.S. banks are considering legal action against the Office of the Comptroller of the Currency (OCC) over new rules that make it easier for crypto, fintech, and payment firms to obtain national bank trust charters. The Bank Policy Institute (BPI), which represents lenders including JPMorgan, Goldman Sachs, and Citigroup, argues that the changes could allow lightly regulated companies to offer bank-like services without the same oversight as traditional banks. The OCC’s updated interpretation of federal licensing rules would allow approved firms to operate nationwide under a single charter. Banking groups warn this could blur the definition of what constitutes a bank and potentially increase risks to consumers and the financial system. While the BPI has not yet decided whether to proceed with a lawsuit, the move would follow previous legal action by the group against the Federal Reserve in 2024 over stress-test rules. The OCC’s approach has also drawn criticism from state regulators and community banks, who argue the policy could undermine competition, consumer protection and financial stability.

 

The Guardian

Nissan has announced that chief financial officer Jérémie Papin will step down for personal reasons, with long-time company executive George Leondis set to take over the role from April 1st. Papin will remain at the company until mid-May to support the completion of the fiscal year. Leondis, who joined Nissan in 2004 and most recently oversaw global product and industrial operations, takes the position at a critical time as the automaker works through a major restructuring. Nissan is attempting to revive demand by cutting costs, reducing its workforce by 20,000 jobs, and closing seven factories while updating its aging vehicle lineup.

 

Bloomberg

PwC Canada has elected Domenic Marino as its next senior partner and chief executive, with the appointment taking effect on July 1st 2026. Marino, a Toronto-based partner who has spent 25 years at the firm, will succeed Nicolas Marcoux, who has led PwC Canada for the past eight years. Marino currently heads the firm’s national deals practice, overseeing services including corporate finance, transaction advisory, and restructuring, and previously led PwC’s forensics, disputes and crisis management practice. PwC said Marino’s leadership and market experience position him to guide the firm as it continues to embrace technology and support clients through rapid business transformation.

 

Consulting

A federal judge has said that JPMorgan Chase employees ‌may pursue part of their lawsuit accusing the bank of mismanagement of its health and prescription benefits program, which caused them to overpay for prescription drugs and premiums. U.S. District Judge Jennifer Rochon in Manhattan ruled that ​employees can seek to prove that the biggest U.S. lender allowed repeated, unauthorized excessive payments to CVS ​Caremark, to benefit the pharmacy benefits manager and avoid "blowback" from healthcare clients.

 

Reuters

Around 3,800 workers at JBS’s beef processing plant in Greeley, Colorado, plan to strike from March 16th, potentially disrupting production at one of the largest U.S. beef facilities as consumers face record-high beef prices. The union representing the workers said the strike follows eight months of failed contract negotiations, with employees demanding wages that keep pace with inflation and an end to charges for replacing protective equipment. JBS said it has complied with labor laws and offered a fair contract, while adjusting cattle deliveries and shifting production to other facilities to maintain supply. The strike comes as the U.S. cattle herd has fallen to a 75-year low, pushing beef prices higher and increasing costs for meatpackers, even as companies like JBS benefit from strong retail prices.

 

The Colorado Sun

The Denver Post

Reuters

Bill Ackman has filed to list Pershing Square Capital Management on the New York Stock Exchange, advancing his plan to build a publicly traded investment platform modelled on Warren Buffett’s long-term approach. The offering will use a dual-listing structure, with both Pershing Square’s common shares and its closed-end fund PSUS trading separately on the NYSE. Ackman is seeking to raise $5bn-$10bn for PSUS, with shares priced at $50 each, and investors in the fund set to receive additional Pershing Square common stock as part of the deal. The firm said it has already secured $2.8bn in commitments from investors including family offices, pension funds and insurers. Pershing Square said the move will open its platform to both retail and institutional investors and support its goal of creating a permanent-capital vehicle able to invest over the long term.

 

CNBC

Reuters

Wall Street Journal

Exxon Mobil plans to ask shareholders to approve moving its legal domicile from New Jersey to Texas, where the company already has its headquarters and a large share of its workforce. Chief executive Darren Woods said the move aims to protect the company from what it sees as increasing shareholder litigation and “abuse.” The oil major, incorporated in New Jersey since 1882, would join companies such as Tesla and Coinbase that have recently reincorporated in Texas amid growing frustration with traditional corporate legal hubs like Delaware and New Jersey. Texas has introduced new business courts and laws making it harder to sue company directors or file shareholder proposals. Exxon said around 30% of its employees and all its U.S. research facilities are already based in Texas, making the shift a logical step.

 

Bloomberg

Wall Street Journal

Lego has published its full-year 2025 results, with revenues rising 12% to DKr83.5bn ($12.9bn) and operating profit increasing 18% to DKr22bn, while consumer sales grew 16%, significantly outperforming the global toy market’s 7% growth. The company’s success has been driven by a broad product portfolio, including licensed sets and in-house themes such as botanicals, as well as collaborations with brands like Formula One, Fortnite and major entertainment franchises, which have helped attract both children and adult buyers. Looking ahead, Lego expects continued growth in 2026 and plans to launch new sets based on major franchises alongside innovations such as the Lego Smart Brick, which adds interactive features like lights and sounds. “You come out of a year like 2025, and we’ve seen that growth that was beyond our expectations, and . . . what a mountain to climb", commented chief executive Niels Christiansen. “On the other hand, we have really strong momentum. It continues throughout the year and into this year. So, I think we feel good about growing on top of ’25, maybe not to the same growth rate. Our expectation would be high-single-digit, which would be fantastic".

 

Bloomberg

CNBC

Wall Street Journal

The performance of the U.S. hotel sector is revealing shifts in the broader economy, with luxury travel booming while budget segments struggle. Revenue per available room at high-end hotels rose 9% year-on-year in mid-February, while economy hotels saw declines, indicating that wealthy Americans are driving much of the travel spending. At the same time, international tourism to the U.S. has weakened, with January visitor numbers down 3.4% from Europe and 11.7% from Asia, and Canadian visits also falling. Destinations such as Las Vegas, which rely on middle-class and foreign visitors, have been particularly affected. Another unexpected boost to the hospitality sector has come from AI-related infrastructure projects, with hotels near new data center developments experiencing strong demand from construction and tech workers. Overall, the sector suggests the U.S. economy remains resilient but increasingly reliant on affluent consumers and the AI investment boom.

 

Wall Street Journal

AICPA has urged the IRS to expand and refine its First Time Abatement (FTA) penalty relief program to cover a broader range of tax and information return penalties. In a letter to the IRS, the organization also proposed allowing taxpayers to reverse automatically applied FTA relief if they can demonstrate reasonable cause, preserving their one-time abatement for future use. The AICPA said the changes would reduce administrative burdens, clarify penalty relief options and encourage greater voluntary tax compliance.

 

The Accoutant Online

The robotics unit of Swiss-based ABB is teaming up with Nvidia to improve training methods of industrial robots. ABB will use Nvidia's Omniverse libraries of simulated ​data to make its training environments more realistic by incorporating typical factory floor details ​such as lighting, shadows, and textures in virtual simulations. ABB Robotics President Marc Segura said that ⁠robots' often-limited information about the world around them can ​undermine accuracy, repeatability and speed in training scenarios. "The industrial sector ⁠needs ​physically accurate simulation to bridge the gap between ​virtual training and the real-world deployment of AI-driven robotics at scale," observed Deepu Talla, vice president of ​robotics and edge AI at Nvidia.

 

Reuters

A study published in Harvard Business Review suggests that instead of making work easier, AI may be giving some workers what researchers are calling "brain fry." As businesses use more multi-agent systems, employees are finding themselves toggling between more tools, and contrary to the promise of having more time to focus on meaningful work, juggling and multitasking could be set to become the definitive features of working with AI. AI brain fry, defined as "mental fatigue that results from excessive use of, interaction with, and/or oversight of AI tools beyond one's cognitive capacity," was most commonly reported by employees in marketing, HR, operations, engineering, finance and IT in the study.

 

Harvard Business Review

CBS News

Sturm, Ruger & Co. has accused rival gunmaker Beretta of attempting to gain control of the company after acquiring a nearly 10% stake and nominating four directors to Ruger’s board. Ruger said Beretta proposed increasing its stake to around 25% through discounted share purchases and gaining disproportionate board representation, which the company claims would undermine shareholder value and independence. In response, Ruger has adopted a shareholder rights plan to guard against what it described as a potential creeping takeover, setting the stage for a possible proxy battle between the two companies.

 

Wall Street Journal

Anthropic has filed a lawsuit against the U.S. government after being designated a "supply chain risk" over its refusal to allow unrestricted military use of its AI technology. Anthropic filed two separate lawsuits Monday, one in California federal court and another in the federal appeals court in Washington, D.C., each challenging different aspects of the Pentagon's actions against the company. "The Constitution does not allow the government to wield its enormous power to punish a company for its protected speech", Anthropic wrote. "No federal statute authorizes the actions taken here."

 

Techcrunch

The Globe and Mail

U.S. News

A report by Xactly revealed that higher-performing sales executives are increasingly capturing a larger share of company sales budgets. Despite a slight dip in overall sales compensation in 2025, the pay gap between top and lower performers continues to widen. For instance, on-target earnings for account executives at the 90th percentile reached $294,000, while those at the 25th percentile earned only $95,000. Xactly noted: “Organizations are investing in proven, tenured sellers who can deliver more predictable revenue.” However, this trend may have long-term implications, as lower early-career compensation could hinder motivation and increase attrition. Meanwhile, account managers experienced a decline in earnings, with the 90th percentile dropping to $245,000, indicating a shift towards more balanced pay structures.

 

CFO

A congressional report has found that alleged overpayments to private Medicare Advantage insurers increased seniors’ Medicare Part B premiums by about $13.4bn in 2025, raising the average beneficiary’s annual costs by more than $200, or roughly 10%. Investigators said insurer practices such as adding extra diagnoses to patient records, which can trigger higher federal payments, contributed to the higher spending and premiums. The findings from the Joint Economic Committee add to growing bipartisan scrutiny of Medicare Advantage, which allows private insurers to manage Medicare benefits. Industry groups disputed the analysis, saying it relies on flawed data. Regulators have recently proposed limiting some billing practices used by insurers, though officials say the program’s payment system may still need reform to avoid incentives that inflate costs.

 

Wall Street Journal

Apple produced about 25% of its global iPhones in India in 2025, assembling around 55m devices, up 53% from 36m in 2024, as the company accelerates efforts to reduce reliance on China and avoid U.S. tariffs. India’s growing role has been supported by government production incentives and partnerships with manufacturers such as Foxconn, Tata Electronics, and Pegatron, which now assemble the latest iPhone models for both export and domestic sales. Despite higher manufacturing costs compared with China and Vietnam, Apple is expanding its supply chain in India by sourcing more components locally and producing accessories like AirPods. The shift reflects Apple’s long-term strategy to establish India as a second major manufacturing hub.

 

Bloomberg

Australia-based biotech startup Cortical Labs is working on two small data centers run by human brain cells. The experiment could one day challenge the use of semiconductors from the likes of Nvidia. The company is building facilities in Melbourne and Singapore to house its biological computers, known as CL1 units, which consume a fraction of the power used by conventional AI processors. The computing capacity of Cortical Labs’ systems is modest, but the company has so far taught its brain cells to play the computer game Doom.

 

Bloomberg