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Insurers have lost a London High Court bid to appeal against a judgment that hands aircraft lessors $1.0bn-plus from their war risks insurance policies to cover the loss of jets stuck in Russia since the invasion of Ukraine. Reuters notes that the lawsuit has become a bellwether for similar cases fought in other jurisdictions, including the United States. Lessors AerCap, Dubai Aerospace Enterprise, Merx Aviation, KDAC Aviation Finance, Falcon and Genesis had led the claims against insurers including AIG, Lloyd's, Chubb, Swiss Re and HDI Global Specialty.

 

Reuters

President Donald Trump has said that companies should no longer be required to report their earnings on a quarterly basis, and instead publish their financials every six months, arguing that it "will save money, and allow managers to focus on properly running their companies." Currently, the Securities and Exchange Commission (SEC) requires corporations to report their financial statements every 90 days. Half-yearly reporting would mark a huge change in disclosure requirements and put the U.S. in line with the U.K. and several countries in the European Union. Supporters of the change say quarterly reporting is too costly and time-consuming and discourages companies from wanting to go public. They also say company executives focus too much on hitting quarterly earnings targets and not enough on long-term planning. Opponents, however, say that six-month reviews would deprive investors of important financial information. An SEC spokesperson said that the commission "is prioritizing this proposal to further eliminate unnecessary regulatory burdens on companies."

 

CBS News

Wall Street Journal

Ben & Jerry’s co-founder Jerry Greenfield has quit the ice cream brand he launched almost half a century ago, saying the Vermont-based company has lost its independence since Unilever put a stop to its social activism. Ben Cohen, who started the company with Mr Greenfield, shared a statement from him that said quitting was “one of the hardest and most painful decisions” he’d ever made. “Standing up for the values of justice, equity, and our shared humanity has never been more important, and yet Ben & Jerry’s has been silenced, sidelined for fear of upsetting those in power", he said in the statement. “And it’s happening at a time when our country’s current administration is attacking civil rights, voting rights of immigrants, women, and the LGBTQ community." A spokesperson for The Magnum Ice Cream Company, the Unilever subsidiary which controls Ben & Jerry's, said on Wednesday that it disagreed “with Jerry’s perspective and (has) sought to engage both co-founders in constructive conversation.”

 

CNN

BBC News

Financial Times

The Guardian

The Bank for International Settlements (BIS) has raised concerns about a growing disconnect between soaring global stock prices and increasing worries over government debt levels in bond markets. BIS officials noted that the rising premiums investors demand for long-term government debt reflect "mounting concerns about the fiscal outlook," particularly as countries like the U.S. and France face credit rating downgrades. The BIS cautioned that the current high valuations of risky assets could leave markets vulnerable to stress, especially as the real economy shows signs of cooling.

 

Reuters

The International Energy Agency (IEA) has reported that the natural decline rates of oil and gas production are accelerating, primarily due to increased reliance on shale and deep offshore resources. IEA Executive Director Fatih Birol highlighted that nearly 90% of upstream investment is currently aimed at offsetting supply losses rather than meeting rising demand, warning that a lack of investment could lead to a significant reduction in global oil supply. The report indicates that as of 2024, approximately 80% of global oil production and 90% of natural gas production is sourced from fields that have already peaked.

 

Reuters

The New York Empire State Manufacturing Index, which is compiled from a survey of approximately 200 manufacturers in New York state, and uses a level of 0.0 as a benchmark, has dropped to -8.70, from 11.90 in August. Economists had predicted a positive figure of 4.30. The new orders index dropped 35 points to -19.6, while the shipments indicator fell 30 points to -17.3, with both measures hitting their lowest since April 2024. “Manufacturing activity declined modestly in New York State in September, with the survey’s headline index turning negative on the heels of positive readings over the summer," said Richard Deitz, economic research adviser at the New York Fed. "Optimism about the outlook remained muted and employment levels are expected to be flat over the next six months."

 

Investing

Sharecast

The U.S. Labor Department's Bureau of Labor Statistics (BLS) is hiring approximately 25 part-time assistant economists to assist with the Consumer Price Index (CPI) program amid criticism over recent downward revisions to nonfarm payrolls and inflation data collection. The move follows sharp job downgrades that led to the dismissal of BLS Commissioner Erika McEntarfer by President Trump, who accused her of manipulating employment data. The BLS has faced challenges due to funding cuts and staffing reductions, which have raised concerns about the reliability of economic data, prompting the inspector general's office to review the agency's reporting practices.

 

Reuters

Disney, Universal and Warner Bros Discovery have jointly filed a lawsuit against MiniMax, a Chinese artificial intelligence company that is the owner of a popular AI video app, over what they claim is “wilful and brazen” copyright infringement. “MiniMax operates Hailuo AI, a Chinese artificial intelligence image and video generating service that pirates and plunders Plaintiffs’ copyrighted works on a massive scale,” the companies said in the lawsuit, filed Tuesday in the U.S. District Court for the Central District of California. “MiniMax markets Hailuo AI as a ‘Hollywood studio in your pocket’ - an audacious self-anointed nickname given that MiniMax built its business from intellectual property stolen from Hollywood studios like Plaintiffs.”

 

Variety

Bloomberg

Financial Times

Wells Fargo banker Chenyue Mao has been allowed to leave China, after being barred from doing so for several months, following negotiations between US and Chinese officials. The exit ban was linked to a criminal case, with China saying that Mao needed to cooperate with an investigation, but the specifics of her case were not confirmed as part of broader discussions in Madrid regarding trade relations. Mao's release highlights ongoing concerns among foreign executives about the risks of entanglement with Chinese authorities. Mao is one of several foreign business leaders who have faced restrictions in recent years.

 

Reuters

A judge in New York state has dismissed two terrorism charges against Luigi Mangione, the alleged killer of UnitedHealthcare CEO Brian Thompson.  In a written ruling, Judge Gregory Carro said that the allegations against Mangione did not meet the definition of terrorism under state law. However, Carro during a hearing on Tuesday morning ruled a charge of second-degree murder against Mangione could stand.

 

BBC News

Financial Times

South Korea will check with employers about whether there were any human rights violations for Korean workers that were detained in the U.S., a presidential spokesperson has said. More than 300 South Korean workers returned home on Friday after about a week of detention in a U.S. immigration detention facility.

 

U.S. News

The Trump administration has ordered Delta Air Lines and Aeromexico to terminate their joint venture by January 1. The joint venture allowed the airlines to coordinate on scheduling, pricing, and capacity for U.S.-Mexico flights. The US Transportation Department cited ongoing anticompetitive effects in the market, stating that the joint venture provided an unfair advantage to the two carriers, which account for 60% of flights from Mexico City to the US. Delta expressed disappointment, warning that the decision could harm US jobs and consumer benefits, while Aeromexico noted that the existing codeshare agreement and frequent flyer reciprocity would remain unaffected.

 

Reuters

Shanghai-based Hesai, the world’s biggest maker of sensors for self-driving cars, says society and regulators are not ready to accept deaths caused by machines that drive themselves.

 

Financial Times

More than half of U.S. healthcare workers are considering leaving their jobs, according to a survey by The Harris Poll. The study, which included 1,504 frontline employees and 304 employers, revealed that 55% plan to search for new positions by 2026. Burnout and dissatisfaction are prevalent, with 84% feeling undervalued. The U.S. faces a projected shortage of nearly 700,000 healthcare professionals by 2037. Jennifer Musil, global president of research at The Harris Poll, said: "Given the unprecedented need for care driven by the aging Baby Boomer population, these findings offer critical insights into how to better retain, support and prepare the people at the heart of our nation's healthcare system." 

 

U.S. News

Costco is recalling its Kirkland Signature Prosecco Valdobbiadene due to a risk of bottles shattering, even when unopened. The recall affects bottles sold between April 25, 2025, and August 26, 2025, across several states, including Ohio. Customers are advised to dispose of the unopened bottles safely by wrapping them in paper towels and placing them in a plastic bag before discarding.

 

The Columbus Dispatch

NJ.com