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Amazon has blocked more than 1,800 job applications from suspected North Korean agents attempting to apply for remote working IT jobs using stolen or fake identities, Amazon's chief security officer Stephen Schmidt has said in a LinkedIn post. "Their objective is typically straightforward: get hired, get paid, and funnel wages back to fund the regime's weapons programs," he said, adding that this trend is likely to be happening at scale across the industry, especially in the U.S. Amazon has witnessed a nearly one-third increase in job applications from North Koreans in the past year, Schmidt said, adding that the operatives typically work with people managing "laptop farms" - a reference to computers based in the U.S. that are run remotely from outside of the country. Amazon used a combination of artificial intelligence tools and verification by its staff to screen job applications, he said.

 

BBC News

Tech in Asia

The Register

JPMorgan Chase is exploring spot and derivatives cryptocurrency trading for institutional clients, responding to growing demand and recent U.S. regulatory shifts, a source told Bloomberg. While plans are early, the bank is evaluating potential risks and feasibility. Despite CEO Jamie Dimon's past criticism of Bitcoin, he now adopts a neutral stance, saying: “I defend your right to buy Bitcoin.” JPMorgan recently facilitated a bond deal on Solana and plans to accept Bitcoin and Ether as loan collateral, signaling deeper crypto involvement across Wall Street.

 

Bloomberg

The U.S. Consumer Financial Protection Bureau (CFPB) has said that popular "earned wage" advances on worker paychecks do not resemble consumer loans. The advisory opinion from the consumer finance agency reverses course on guidance it published last year under then President Joe Biden. The CFPB said most paycheck advances were not subject to the Truth in Lending Act. This means that the growing number of companies that offer the products are not required to provide workers with certain disclosures, including the cost and terms of credit.

 

Bloomberg Law

American Banker

Reuters

Dollar General has agreed to pay at least $15m to settle multi-state lawsuits alleging it routinely overcharged customers by charging higher prices at the register than those displayed on shelves across many of its 20,000 U.S. stores. The settlement follows claims in several states and allows customers nationwide to seek refunds, and comes weeks after a separate $1.55m agreement with Pennsylvania over similar practices. A Guardian investigation found that Dollar General stores have failed more than 4,300 government price-accuracy inspections in 23 states since January 2022. Lawyers for consumers said the price discrepancies hit hardest those shoppers least able to absorb unexpected costs.

 

The Guardian

The Supreme Court in Delaware has reinstated a $56bn pay package for Elon Musk, ruling that the revocation of his remuneration package by a lower court two years ago was inappropriate and left the Tesla chief uncompensated for his time and efforts over a period of six years.

 

Financial Times

The Guardian

JPMorgan Chase was aware of "serious material weaknesses in accounting practices" at auto lender and retailer Tricolor Holdings for more than a year, according to a lawsuit from its bankruptcy trustee.

 

Financial Times

Facing over $100m in debt due by month-end, Saks Global Enterprises is considering Chapter 11 as a last resort while exploring emergency funding and asset sales, Bloomberg reports. Lenders have also discussed debtor-in-possession financing. A failed turnaround, fueled by a high-stakes acquisition of Neiman Marcus, worsened the company’s financial strain and vendor relationships. Despite a June restructuring that reprioritized debt, investor confidence has dwindled. Saks said it is working with financial stakeholders to "secure a strong and stable future" while continuing its customer service commitments.

 

U.S. News

Bloomberg

Reuters

UnitedHealth Group CEO Stephen Hemsley has pledged operational changes including more automation and increased standardization of internal processes following audits by outside consulting firms of the company's health services and pharmacy benefit units. FTI found that, in some instances, UnitedHealth lacked standardized documentation, including in its in‑home health assessment program. A separate report by Analysis Group on OptumRx found that UnitedHealth's pharmacy benefit manager could benefit from standardizing audit practices and increasing process automation.

 

Reuters

The 2025 Atlantic hurricane season concluded with 13 named storms, slightly below the 30-year average of 14. Despite the season's intensity being above average, the absence of hurricane landfalls in the U.S. limited claims, easing pressure on property insurers. Moody's Ratings reported that while Hurricane Melissa caused damage in Jamaica, U.S. insured losses remained minimal. Global insured natural catastrophe losses reached $80bn, primarily due to California wildfires. Looking ahead, property catastrophe pricing is expected to decline by 15% for the January 1 reinsurance renewals, reflecting the low U.S. hurricane losses.

 

Insurance Business Magazine America

UPS-owned Happy Returns is piloting an artificial intelligence tool to curb returns fraud, a problem estimated to cost retailers $76.5bn. The system, combining human auditors with AI, flags suspicious returns by comparing incoming products to expected items, with final decisions made by human teams. Retailers involved in the holiday trial say the technology helps catch both obvious and subtle fraudulent returns, enhancing protection during peak shopping periods.

 

PYMNTS

Reuters

For the fifth consecutive year, American teenagers' use of drugs and alcohol remains at a historic low, according to the National Institute of Health-funded Monitoring the Future survey. This survey, which has tracked student behaviors for over 50 years, indicates that the decline in substance use that began during the COVID-19 pandemic has become a lasting trend. Richard Miech, a research professor and lead investigator, said: "Many expected teen drug use levels to return to pre-pandemic levels once the social distancing policies were lifted, but this has not happened." The survey revealed that 91% of eighth-graders, 82% of 10th-graders, and 66% of 12th-graders reported not using marijuana, alcohol, or nicotine in the month prior to the survey. Dr. Nora Volkow, director of the National Institute on Drug Abuse, called the results encouraging, noting that "so many teens choose not to use drugs at all." However, she emphasized the need for continued monitoring of these trends.

 

Star-Telegram