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Reuters reports that SEC Enforcement Division Director Margaret Ryan - who resigned last week after just over six months in the role - had clashed with agency leaders over the direction of its enforcement program, including the handling of cases with ties to President ​Donald Trump and his family, according to three people familiar with the matter. Ryan wished for a more aggressive pursuit of charges for fraud and other misconduct including in cases that touched the president's circle, but faced resistance from the likes of SEC chair Paul Atkins, two of the people said.

 

Reuters

Traders made bets worth half a billion dollars in the oil market about 15 minutes before Donald Trump’s post touting “productive” talks with Iran sent the price of crude tumbling.

 

Financial Times

The ongoing war in Iran is revealing significant deficiencies within the State Department, particularly in the Bureau of Near Eastern Affairs. The bureau, which typically coordinates U.S. foreign policy across 18 countries, is understaffed and under-resourced after the Trump administration's budget proposed a 40% cut, though Congress eventually enacted less dramatic cuts. “[Trump's] making choices without the larger expertise of the United States government that would flag issues of consequence,” said Max Stier, CEO of the nonpartisan Partnership for Public Service, a nonprofit group that studies federal workforce issues.

 

U.S. News

Amazon has said its Amazon Web Services region in Bahrain has been "disrupted" by drone activity amid the Gulf conflict. It is the second such incident within a month that its operations have been affected by the war. "As this ​situation evolves and, as we have advised before, we request those with workloads in the ​affected regions continue to migrate to other locations," Amazon said. The company did ⁠not immediately respond to a query on whether its Bahrain facility was directly hit by ​a drone attack or if the disruption was the result of nearby strikes.

 

Reuters

Interviews with more than 80,000 users of Anthropic’s Claude chatbot across 159 countries provide one of the most detailed snapshots yet of how people use AI. The report found that AI in the workplace to automate tasks was one of the biggest use cases of the technology, although some people said they feared they would lose cognitive abilities in the process. Nearly half of lawyers interviewed said they had encountered AI unreliability firsthand, but they also reported the highest rates of realised decision-making benefits of any profession. Over a quarter (27%) of respondents said they were concerned about AI making poor or incorrect decisions, and 22% said they were fearful about the technology's impact on jobs and the economy.  Users in North America, Western Europe and Oceania were worried more about governance gaps, regulatory failure, and surveillance; those in Sub-Saharan Africa, Latin America, and South Asia were much more positive about AI.

 

EdTech Innovation Hub

Euronews

Financial Times

Supermicro co-founder Wally Liaw and two others working for the company have been charged in New York for allegedly violating U.S. export controls by smuggling $2.5bn of Nvidia’s AI chip servers to Chinese customers. The trio allegedly "conspired to sell billions of dollars'" worth of technology to buyers in China by faking documents and using dummy equipment to slip past audits, according to the U.S. attorney’s office for the Southern District of New York. Super Micro said it had placed Liaw, the firm's Senior Vice President of Business Development, and Steven Chang, a sales manager, on leave. It also said it had terminated ties with Willy Sun, who was a contractor. "The conduct by these individuals alleged in the indictment is a contravention of the company's policies and compliance controls, including efforts to circumvent applicable export control laws and regulations," the firm said.

 

Fortune

Financial Times

BBC News

Planned Parenthood of Illinois has agreed to pay $500,000 to resolve an investigation by the U.S. Equal Employment Opportunity Commission (EEOC) regarding its diversity, equity, and inclusion (DEI) practices. The EEOC found that the organization violated Title VII of the Civil Rights Act of 1964 by "segregating employees by race" and subjecting white employees to harassment. EEOC Chair Andrea Lucas emphasized that "Title VII guarantees equal treatment for every employee" and prohibits race discrimination. The investigation was launched following complaints from multiple employees about mandatory racially segregated training sessions. Michelle Wetzel, general counsel for Planned Parenthood of Illinois, said that the organization has "zero tolerance for bigotry, discrimination or harassment of any kind." The settlement comes amid increased scrutiny of DEI initiatives by the EEOC under the current administration.

 

Chicago Tribune

NPR / National Public Radio

Music giant BMG has sued artificial intelligence company Anthropic for allegedly using its copyrighted lyrics ‌to train the large language models powering its Claude chatbot. BMG said in the complaint filed in ​California federal court that Anthropic infringed hundreds ⁠of copyrights by copying and reproducing lyrics from hit ​songs by the Rolling Stones and many other prominent rock and pop musicians. "Anthropic’s practice of training AI models on copyrighted works sourced from unauthorized torrent sites, among other acts, stands in direct opposition to ​the standards required ​of any responsible ⁠participant in the AI community," BMG said in a statement.

 

Billboard

Reuters

Rolling Stone

French hotel operator Accor - whose brands include Sofitel, Novotel, and Ibis - has launched an investigation following a report by short-seller Grizzly Research that questioned the group’s human rights practices. The short-seller said it is betting against Accor, alleging some of its hotels ignored red flags strongly suggestive of child trafficking when making bookings in “an obvious sexual context.” Accor said it denies “involvement in the alleged systemic exploitation of human or child trafficking,” adding that it will take “all appropriate measures” and could prosecute parties involved if the allegations are confirmed. Employees and partners working under its various brands are trained to detect and combat sexual trafficking and the exploitation of children, Accor said.

 

Bloomberg

UBS has secured a U.S. national bank charter, enabling it to expand its wealth management business by offering full-service banking and attracting more deposits from American clients. The move is part of a broader strategy to grow its presence in the world’s largest wealth market and target not only ultra-wealthy individuals, but also affluent clients. The license will allow UBS to introduce services such as checking and savings accounts, helping it compete more directly with rivals like JPMorgan and Morgan Stanley by positioning itself as a one-stop shop for banking and investment needs. The bank hopes this will improve profitability in its Americas division, which already accounts for roughly half of its global wealth assets but has higher costs.

 

Bloomberg

Reuters

Wall Street Journal

Reuters reports that Goldman Sachs plans to ​cut a small number of underperforming ‌staff in April. "Regular, consistent headcount management is nothing out of the ordinary for a public company. We ​are constantly assessing our performance and ​talent across divisions," a Goldman Sachs spokesperson said ‌in ⁠a statement.

 

Reuters

Bank of America has withdrawn a recommendation that clients bet against European companies including Aegon, Axa and Aviva potentially exposed to “private credit shocks,” saying that it made “factual inaccuracies.”

 

Financial Times

So-called "microshifting" is seeking to transform traditional work schedules by enabling employees to manage their time in short, productive bursts. This flexible scheduling method is gaining traction because it prioritizes work-life balance, while experts such as Kevin Rockmann, a professor of management at George Mason University's Costello College of Business, also observe that such autonomy in scheduling can enhance motivation and productivity. However, while microshifting can improve personal relationships, it is feared that it could strain professional ones, because it prioritizes individual needs over team collaboration. Effective teams are committed to working together collaboratively, but "the whole idea of microshifting is taking care of yourself,” Rockmann says. “It's not that taking care of yourself is bad. It places the emphasis on the individual, not the relationships.”

 

U.S. News