Become more informed in minutes...

Bloomfire vice president of marketing Brian Zander has warned chief financial officers and chief information officers against overestimating the current capabilities of artificial intelligence technology, urging clear expectations, defined ROI metrics, and alignment between finance and technology functions to avoid stalled implementations and unmeasurable outcomes. He noted that CFOs often misjudge AI’s handling of complex data while CIOs can lose sight of the end user, with both needing a more balanced approach to risk and practical application. “I absolutely think that technology investments do have a direct input on the value that a company can produce,” Mr. Zander said. “I think that technology 100% impacts the human performance side of things, and the CFO should be measuring that in a very real way.”

 

CFO Dive

Be a Budget Hero: The CFO’s Guide

Critical budgeting decisions are often based on tedious, manual data collection and inaccurate assumptions. You are expected to provide knowledgeable guidance, but how can you when finance teams are routinely looped in after spending decisions are already final?  

Eliminate the costly risk of incomplete contract data. Contract intelligence transforms this challenge by providing real-time visibility into financial obligations, empowering you to proactively identify redundancies, secure savings, and ensure your forecasts are both accurate and complete, in addition to giving you the power to negotiate contracts before their renewal dates and never miss out on a deal!    

Get the Guide

 

A new analysis from OpenBrand found that U.S. consumer durables and personal goods inflation decelerated in October for the first time in three months, reflecting a slight pickup in the degree of merchant discounting. The group, which tracks prices daily from online marketplaces, retail websites, and brick-and-mortar store listings,said its measure of prices for big-ticket goods and personal-care products rose 0.22% last month compared with a 0.48% increase in September, with growth decelerating across all categories, other than communications devices. “The uptrend in inflation has stalled somewhat in October,” said Michael Metcalfe, head of macro strategy at State Street. “This still requires careful monitoring as we move into the seasonal discounting season, but for now inflation remains firm but not frightening.”

 

Bloomberg

President Donald Trump's policies favoring fossil fuels over green energy could lead to a 1% increase in U.S. GDP by 2050, according to Bloomberg Economics. The report, co-authored by Eleonora Mavroeidi and Maeva Cousin, states that “If Trump alone backs out on the transition, the U.S. wins.” However, if other nations also abandon renewable energy, the global economy could shrink by 0.2%. The analysis highlights the potential long-term costs of climate inaction, particularly for vulnerable countries like India and Vietnam. While the U.S. may gain economically in the short term, the report warns that “doing nothing is a costly strategy,” as the impacts of climate change will escalate over time. The COP30 climate conference will showcase the U.S.'s shift away from climate commitments, complicating global efforts to address climate change.

 

Los Angeles Times

A new Federal Reserve survey identifies policy uncertainty, including on global trade and central bank independence, and overall geopolitical risk as top financial stability concerns. The biannual Financial Stability Report also found that worry about artificial intelligence is growing. AI was cited as a potential shock in the next 12 to 18 months by 30% of the U.S. central bank's market contacts. 

 

Reuters

Qcells, the U.S. solar manufacturing division of Hanwha, has announced the furlough of 1,000 workers at its Georgia factories due to ongoing delays in shipments caused by U.S. customs checks. The company's components, primarily sourced from Malaysia and South Korea, have faced routine detention under a 2021 law aimed at preventing imports linked to forced labor in China's Xinjiang region. Despite these setbacks, a Qcells spokesperson said that the company expects to resume full production shortly, reaffirming a commitment to establishing a complete solar supply chain within the United States.

 

Reuters

Meta Platforms has announced an investment of $600bn in U.S. infrastructure and jobs over the next three years, focusing on building artificial intelligence data centers to support its AI ambitions. Chief executive Mark Zuckerberg emphasized the importance of this strategy, saying that it prepares the company for "the most optimistic cases" in its AI development efforts. The investment also includes plans for notable capital expenditures next year to further enhance computing capacity.

 

Reuters

Barrick Mining's interim chief executive Mark Hill has vowed to reset talks with Mali’s government to secure the release of employees still detained in the west African country. Meanwhile, Hill told Reuters that the Canadian miner's focus in the future will be "firmly on North America . . . because it is our next growth area and it is the next growth in gold as well, so that is what we are focused on going forward."

 

Financial Times

Reuters

The Globe and Mail

Visa and Mastercard are nearing a settlement to resolve a legal dispute with merchants dating back to 2005, with plans to cut interchange fees by an average of 10 basis points over several years and relax rules requiring retailers to accept all cards from their networks. The potential deal, which follows a previously rejected $30bn settlement, may also allow merchants to apply surcharges on Visa and Mastercard products.

 

Bloomberg

Wall Street Journal

The U.S. Environmental Protection Agency (EPA) is moving to exempt some companies that make or import perfluoroalkyl and polyfluoroalkyl substances, or PFAS, from requirements to report them. EPA Administrator Lee Zeldin said the proposed change would reduce costs for industry. “Today’s proposal is grounded in commonsense and the law, allowing us to collect the information we need to help combat PFAS contamination without placing ridiculous requirements on manufacturers, especially the small businesses that drive our country’s economy,” Zeldin said. The Biden administration imposed strict forever chemical reporting rules in 2023.

 

The Hill

EPA

Tyson Foods is projecting annual revenues above analysts' estimates, with strong demand for its chicken products offsetting declines in its beef business. Net fourth-quarter sales rose 2.2% to $13.86bn; its chicken unit's sales volumes gained 3.8%, while beef segment volumes fell 8.4%, though sales rose 4.3% as prices jumped 17%. Adjusted earnings per share of $1.15 beat expectations of 83 cents, according to LSEG. “The beef segment remains our only soft spot", chief executive Donnie King said on a Monday call with analysts. “Looking forward, we expect cattle supplies to remain tight as we move into 2026. During this period, chicken is likely to benefit most from changing consumer preferences". The company now expects fiscal 2026 revenue to rise between 2%-4%, largely above analysts' expectations of 2.3% growth.

 

Bloomberg

Reuters

Wall Street Journal

Pfizer has successfully acquired Metsera for $10bn, outbidding Novo Nordisk in a competitive bidding war that highlighted U.S. antitrust concerns related to Novo's proposal. Metsera's anticipated drug revenues are projected to peak at $5bn, which led Pfizer to believe the deal was essential for their future in the obesity medication market. Novo Nordisk opted not to increase its offer, stating that its previous bid was the "maximum value" given its own pipeline developments.

 

Reuters

BDO has reported that 81% of businesses are facing more tax authority queries than in 2023, as regulatory complexity drives up costs and operational strain. Its Global Tax Outlook survey of 500 tax leaders highlights rising investment in technology, hybrid outsourcing, and artificial intelligence, with 66% expecting compliance costs to increase and 70% already using AI in tax processes. The report notes that nearly two-thirds (66%) expect the cost of compliance to continue rising over the next year as they allocate more funds towards technology upgrades and additional staff. “These findings underscore a fundamental shift, tax compliance is evolving quickly and so are expectations on tax leaders," commented BDO Global Tax head Niek De Haan. “The data shows that 2026 will need to be a year of action for many. What’s encouraging is that businesses are responding proactively, investing to stay ahead.” 

 

International Accounting Bulletin

Switzerland is inching closer to a deal to cut U.S. tariffs on its exports from 39% to about 15%, as companies from Rolex to Richemont take the lead in breaking months of deadlock between Bern and Washington, D.C. President Donald Trump said on Monday that he had not yet settled on the tariff rate he would impose on Switzerland, but confirmed that the U.S. is “working on a deal to get the tariffs a little lower”. The news sent Richemont and Swatch shares up 2% and 4.2% respectively in early trading this morning. 

 

Bloomberg

Financial Times

Reuters

Writing for AP News, Chan Ho-Him considers the K-visa, which was launched by China last month as part of the country’s widening effort to catch up with the U.S. in the race for global talent. “[The] K-visa for China [is] an equivalent to the H-1B for the U.S.,” observes Vaishnavi Srinivasagopalan, a skilled Indian IT professional who has worked in both India and the U.S., and who has been looking for work in China. “It is a good option for people like me to work abroad.” The launch of the K-visa coincides with uncertainties over the U.S.'s H-1B program under tightened immigrations policies implemented by President Donald Trump.

 

AP News