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U.S. public companies replaced chief executives at a record pace last year, ushering in the largest wave of new leaders in at least 15 years, with incoming CEOs younger and less experienced than their predecessors. Around one in nine CEOs across 1,500 of the biggest listed companies was replaced in 2025, the highest rate since 2010, according to Spencer Stuart. The trend has continued into 2026, with major groups including Walmart, Procter & Gamble, Disney and PayPal announcing leadership changes. New appointees averaged 54 years old, down from nearly 56 the previous year, and more than 80% were first-time public company CEOs. Two-thirds had never previously served on a corporate board. Boards appear increasingly impatient for results amid challenges such as artificial intelligence, economic uncertainty and geopolitical shifts. While some transitions were planned, others were abrupt, particularly in sectors facing post-pandemic pressures. Female representation among new CEOs declined, with women accounting for just 9% of appointments, down from 15% a year earlier.

 

Wall Street Journal

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Intuit chief executive Sasan Goodarzi says resilience and a willingness to embrace “pain and suffering” have been central to transforming the maker of TurboTax and QuickBooks into a $20bn full-service financial technology provider. Since taking the helm in 2019, Mr. Goodarzi has shifted Intuit from a traditional tax and accounting software model to a broader platform combining human expertise, data analytics and AI, doubling its growth rate from 8%–9% to roughly twice that pace. Despite a recent share-price slide driven by investor fears over emerging AI tools, he maintains the company is “built for these moments” and is developing its own AI agents to stay competitive. Mr. Goodarzi credits his leadership style to personal hardship and says he prioritizes hiring employees with “grit,” arguing that the ability to endure and overcome challenges is essential to succeeding in a rapidly evolving technology landscape.

 

Wall Street Journal

Rapid capital spending by major technology companies on AI infrastructure is creating a growing accounting blind spot, as soaring depreciation costs become harder for investors to track. Five leading tech groups - Alphabet, Amazon, Meta, Microsoft, and Meta - are projected to spend $3tn on property and equipment over the next four years, with depreciation expected to rise sharply as investments in data centers and AI chips are written down over five to six years. Analysts warn that inconsistent reporting practices - including embedding depreciation within broader expense categories - make it difficult to model earnings and assess margins. A new U.S. accounting rule requiring clearer quarterly breakdowns, including separate disclosure of depreciation, will not take effect until 2028, prompting calls for companies to improve transparency sooner as AI-driven capital spending accelerates.

 

Wall Street Journal

U.S. consumer prices rose 2.4% year-on-year in January, below expectations and down from the prior month, marking the lowest annual inflation rate since May 2025, according to Labor Department data. Core inflation, which excludes food and energy, increased 2.5% annually, in line with forecasts, while monthly headline CPI rose 0.2%. Shelter costs increased 0.2% on the month, energy prices fell 1.5%, and used vehicle prices dropped 1.8%, helping ease overall price pressures. The softer-than-expected reading lifted market expectations for a Federal Reserve rate cut in June, as inflation continues to trend lower despite remaining above the Fed’s 2% target.

 

CNN

CNBC

Reuters

Wall Street Journal

The U.S. economy is showing its strongest signs yet of achieving a “soft landing,” with inflation easing, unemployment steady and growth holding up - though policymakers and economists remain cautious about celebrating too soon. Core inflation fell to 2.5% in January, its lowest since the pandemic price surge began, while the unemployment rate dipped to 4.3% and employers added 130,000 jobs. The data suggests inflation could return to the Federal Reserve’s 2% target without triggering a recession, a scenario many once considered unlikely. However, the Fed’s preferred inflation gauge remains closer to 3%, and some economists warn that tariff-related price pressures and resilient consumer spending could keep inflation stuck above target. Job growth has also slowed markedly, concentrated in healthcare and education, leaving the labor market vulnerable to shocks. While strong household balance sheets and AI-driven investment are supporting expansion, risks remain from potential market volatility, policy shifts and persistent services inflation.

 

Wall Street Journal

Bloomberg reports that John Hurley, the Treasury's undersecretary for terrorism and financial intelligence, is set to depart the role amid friction with Treasury Secretary Scott Bessent, according to people familiar with the matter. The expected departure of  the Trump administration’s top sanctions official comes as US sanctions play an increasingly pivotal role for international investors, global energy flows and geopolitical risk, and the likely change has raised questions among current and former officials about stability inside the Treasury Department, Bloomberg reports.

 

Bloomberg

U.S. bank regulators appear to be making progress toward proposing a revised version of the ‘Basel endgame’ rules, which would implement global standards on how lenders should measure their risk and assign capital accordingly. The Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) submitted proposals to the Office of Management and Budget (OMB) for review on Thursday. The OMB’s Office of Information and Regulatory Affairs is responsible for reviewing such proposals. Reuters notes intense banking industry opposition to an effort under the Biden administration to adopt rules that would have significantly raised big bank capital requirements.

 

Reuters

OpenAI has told U.S. lawmakers that Chinese AI startup DeepSeek is trying to replicate leading U.S. AI models and use them for its own training, according to a memo seen by Reuters. OpenAI said DeepSeek is using “distillation” and alleged attempts to bypass access controls, including “obfuscated third-party routers” that hide request origins. The memo claimed DeepSeek staff wrote code to programmatically obtain outputs for distillation. OpenAI also argued some Chinese models are “actively cutting corners” on safe training and said it removes users suspected of distillation.

 

Reuters

The National Bureau of Economic Research, in a study by economist George Borjas, has found that the $100,000 fee on H-1B workers may not significantly affect hiring practices. The research paper noted that since these high-skill workers typically earn more than $100,000 annually, the employer would still find it advantageous to hire them since "the average payroll savings resulting from a single H-1B hire nears $100,000 over the term of the six-year visa term."

 

The Times of India

BDO USA has appointed Demetrios Frangiskatos as managing principal of assurance and Mat DeMong as managing principal of tax, strengthening leadership at the Chicago-headquartered accounting and consulting firm. Mr. Frangiskatos, based in New York and with the firm since 2000, will oversee strategy and delivery across audit, attest and advisory services. Mr. DeMong, based in Boston and a BDO veteran since 2004, will lead the tax practice spanning corporate, international and state and local tax services. 

 

Consulting

Volkswagen is scheduled for a criminal trial related to the “dieselgate” emissions test-cheating scandal that hit the automotive sector a decade ago. The German automaker will be faced with claims of deceit “concerning goods that endanger human and animal health,” a source close to the litigation said. The Paris court is expected to discuss trial dates in December.

 

Bloomberg