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The International Accounting Standards Board (IASB) has proposed a new model under which banks could give investors a clearer view on how they manage risks, such as those associated with changing interest rates. "Our proposed risk mitigation accounting model aims to bring accounting and risk management closer together to enhance internal efficiency and strengthen communication between financial institutions and their stakeholders," said IASB chair Andreas Barckow. A consultation is open until July 31, 2026.

 

Reuters

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Newly-filed unemployment claims last week dropped to their lowest level in three years, according to the Labor Department, allaying fears of a sharp deterioration in labor market conditions and potentially arguing against another interest rate cut from the Federal Reserve next week. Initial claims for state unemployment benefits fell 27,000 to a seasonally adjusted 191,000 in the seven days to November 29th, the lowest level since September 2022. Economists surveyed by the Wall Street Journal had expected 220,000 new claims. The four-week moving average fell to 214,750, while continuing claims, reported with a one-week lag, dropped 4,000 to a seasonally-adjusted 1.939m. Filings tumbled 19,551 in California and decreased 8,349 in Texas; additionally, there were significant declines in Florida, New York, and Washington state.

 

Bloomberg

Reuters

Wall Street Journal

U.S. factory orders rose 0.2% in September, below economists' expectations of a 0.5% increase, the Commerce Department reported on Thursday, as manufacturers continued to face constraints from President Donald Trump’s tariffs. This followed a downwardly revised 1.3% gain in August. On an annual basis, orders were up 3.5%. Non-defense capital goods orders excluding aircraft, a key indicator of business investment, climbed 0.9%, with shipments matching that pace.

 

Nasdaq

Reuters

Female chief executives are more likely to be targeted by activism campaigns than their male counterparts, according to a report by The Conference Board shared exclusively with the Financial Times.

 

Financial Times

Security products maker Verkada has said it was valued at $5.8bn in its latest investment round led by CapitalG. Reuters note that the valuation comes as companies boost their investment in integrated security systems to safeguard staff and facilities, following the shooting of UnitedHealth executive Brian Thompson last year.

 

Reuters

The Wall Street Journal reports that PepsiCo is close to reaching a settlement agreement with activist investor Elliott Investment Management, which recently unveiled a c.$4bn stake in the beverage and snacks group. Details of the agreement are unknown at present, although an announcement could be made over the coming weeks. Since acquiring a stake in the firm, Elliott has been pushing it to refranchise its bottling operations and make other changes, such as divesting underperforming assets in its food business.

 

Wall Street Journal

A new edition of the Future of Life Institute's AI safety index says the safety practices of artificial intelligence companies including Anthropic, OpenAI, xAI and Meta are "far short of emerging global standards." Max Tegmark, MIT professor and Future of Life president, observed: "Despite recent uproar over AI-powered hacking and AI driving people to psychosis and self-harm, US AI companies remain less regulated than restaurants and continue lobbying against binding safety standards."

 

Reuters

Fintech firm Marquis has alerted US banks and credit unions following a ransomware attack in August that compromised files containing customer data. The breach, which exploited a vulnerability in Marquis' SonicWall firewall, may have exposed sensitive information such as names, addresses, and Social Security numbers, although the company reported no evidence of data misuse. Marquis is issuing notifications to current and former business customers whose information was affected, underlining the seriousness of the incident.

 

Reuters

China has said it is issuing general licences for exports of rare earths. Beijing last month agreed to begin issuing general licences for exports of rare earths and related magnets as part of a trade war truce agreement with the US. "China has been actively making use of general licenses and other facilitation measures to promote compliant trade in dual-use items," state news outlet Xinhua reported. "As long as export license applications for rare earth-related items are for civilian use, the government has given timely approval," Commerce Ministry spokesman He Yadong said at a weekly briefing.

 

China Daily

Financial Times

Reuters

The New York Times has filed a lawsuit against the Pentagon, claiming that a new press policy requiring journalists to pledge not to solicit unauthorized information violates the First and Fifth Amendments. Charlie Stadtlander, a spokesperson for the Times, said: “The policy is an attempt to exert control over reporting the government dislikes.” The lawsuit names Defense Secretary Pete Hegseth and Pentagon spokesman Sean Parnell as defendants. The policy, which took effect in October, has faced widespread condemnation from media organizations. The Times seeks to have the policy struck down, arguing it infringes on constitutional rights. Gabe Rottman, vice president of policy at the Reporters Committee for Freedom of the Press, said the policy gives government officials unchecked power over press credentials, which is prohibited by the First Amendment.

 

Washingtonpost.com

The Indian government has reversed a policy mandating the installation of a state-run cyber security app on citizens' mobile devices. Prime Minister Narendra Modi's government had privately told companies including Apple, Samsung, and Xiaomi that their products would have to carry an app called Sanchar Saathi, which would be able to access call logs and memory systems. The initiative was met with opposition from privacy advocates, as well as the tech companies themselves. The Internet Freedom Foundation called the reversal a “welcome development,” and thanked all parties who “raised their voice, reported on the issue or pushed back against this mandate.”

 

Financial Times

Reuters

Adidas has defeated an appeal from shareholders who accused it of hiding misconduct by rapper-entrepreneur Kanye West, otherwise known as Ye, before their partnership broke down in 2022. The 9th U.S. Circuit Court of Appeals in San Francisco said the German firm did not mislead shareholders in its annual reports by saying improper behavior by partners from the entertainment industry could have a negative spill-over effect on business. The shareholders said Adidas continued the partnership despite being "fully aware" since at least 2018 that Ye routinely made improper comments to its employees and employees at his Yeezy design shop.

 

Bloomberg

BBC News

Reuters

Starbucks is facing continued strike action as Workers United’s open-ended walkout enters a third week, with no progress in contract talks and 55 locations still closed. The union is demanding better pay, hours, and resolution of hundreds of alleged labor violations. A  New York City rally outside the Empire State Building on Thursday led to 12 arrests. Demonstrators were joined by members of other unions, including the AFL-CIO and SEIU. “Their fight is a fight really for all of us, to workers across the country, to corporations like Starbucks, across the country that workers are fed up with the status quo, and they’re not going to take it anymore,” commented SEIU president April Verrett. Starbucks says 99% of stores remain open, and that it is investing $500m in workforce improvements.

 

CNBC