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Fashion brands risk losing up to 34% of profits by 2030 if chief financial officers fail to invest in supply chain decarbonization, according to a new report by the Apparel Impact Institute (Aii), produced with Accenture. The report, The Cost of Inaction, projects that rising carbon prices, energy costs and raw material volatility could significantly increase production expenses. Carbon pricing alone could push cost of goods sold up 13%, with carbon prices forecast to rise from an average of $10 per ton today to $350 by 2040. In high-risk scenarios, profit losses could reach 67%. Aii, which is seeking $250m to unlock $2bn in climate finance for supply chain decarbonization, has so far raised $100m. The report targets CFOs directly, arguing that climate investment is no longer a corporate social responsibility issue but a material financial risk. While most brands have been slow to fund emissions reductions for suppliers, companies such as H&M Group and German brand Armedangels say they are embedding climate mitigation into their financial strategies to protect long-term margins and secure competitive advantage. The report concludes that failure to act on climate risks could erode profitability across the industry, turning sustainability from a moral argument into a pressing financial imperative.

 

Forbes

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German agrochemical giant Bayer has proposed a $7.25bn settlement to resolve thousands of lawsuits claiming its Roundup weedkiller causes cancer. The settlement aims to address around 65,000 claims from plaintiffs who allege they developed non-Hodgkin lymphoma after using the product. Bayer will make annual payments for up to 21 years, but it does not admit liability. CEO Bill Anderson said: "Litigation uncertainty has plagued the company for years, and this settlement gives the company a road to closure." The proposal requires court approval and a minimum number of plaintiffs to opt in.

 

Deutsche Welle (EN)

France 24

Ford Motor Co. is transforming its vehicle development approach with the new Universal EV Platform, which is set to launch next year. The platform aims to compete with Tesla and Chinese manufacturers by utilising 20% fewer parts and offering a longer range. Alan Clarke, executive director of advanced EV development, noted that the cultural shift requires time for employees to adapt. The team focuses on collaboration and innovative problem-solving, leading to significant improvements in vehicle performance and efficiency. Clarke said: "Ingenuity will win in the long run," as he highlighted the platform's potential to redefine the market.

 

Detroit Local News

Eli Lilly plans to transform India into a key hub for its global supply chain, backed by a $1bn investment in contract manufacturing, as the sales of its weight-loss drug Mounjaro continue to surge. The company has introduced plans to export locally produced medications worldwide while also bringing other products, like the Alzheimer's drug donanemab, to the Indian market. Amidst competitive pressures from companies like Novo Nordisk, Lilly is focusing on enhancing its digital and social media presence to increase awareness and expand Mounjaro's reach beyond major cities.

 

Reuters

Home Depot is raising performance thresholds for manager bonuses as it grapples with a slowdown driven by a frozen housing market and weaker demand. The retailer will increase the minimum sales target for bonus eligibility to 95% from 90%, and managers meeting that threshold will now receive 25% of their target payout instead of 50%. The changes, set to affect payouts in September, are intended to align incentives with pre-pandemic standards and reinforce accountability. The move comes as the company faces affordability pressures, softer job growth across the economy and broader cost-cutting measures, including recent job reductions and a return-to-office mandate for corporate staff.

 

Bloomberg

Manufacturing activity in New York State increased modestly in February, according to the Empire State Manufacturing Survey, with the general business conditions index edging down slightly to 7.1 but remaining in positive territory for the fourth time in five months and above expectations. New orders continued to rise according to the report, produced by the New York Fed, though shipments flattened, and unfilled orders increased. Employment and hours worked saw small gains after declining in January. However, price pressures intensified, with both input costs and selling prices rising at a faster pace. Looking ahead, manufacturers remain optimistic. The future business conditions index climbed to 34.7, with firms expecting growth in orders, shipments and employment. Capital spending plans strengthened, reaching a multi-year high, signalling confidence in the months ahead.

 

Advisor Perspectives

Investing

General Mills has lowered its full-year sales and earnings guidance, citing weak consumer sentiment, inflation pressures and reduced SNAP benefits that are weighing on spending. The Cheerios and Pillsbury maker now expects organic net sales to fall 1.5%-2%, compared with a previous range of down 1% to up 1%, and projects adjusted earnings per share to decline 16%-20%, versus earlier guidance of a 10%-15% drop. Speaking at the Consumer Analyst Group of New York conference, chief executive Jeff Harmening said financially stressed consumers are buying fewer snacks and cereals and increasingly seeking promotions, resulting in a more costly sales mix. The company is responding with price cuts across much of its North American portfolio and increased focus on product innovation, including protein-focused offerings, as it navigates a tougher demand environment.

 

Reuters

Wall Street Journal

AI startup Perplexity has scrapped advertising, warning that sponsored content could undermine trust in its answers. The company, which had tested labeled ads beneath chatbot responses, said it is now focused on accuracy and subscription revenue instead. The move contrasts with rivals such as OpenAI and Google, which are introducing ads to monetize free users. Perplexity, valued at $18bn and generating about $200m in annualized revenues, said advertising may be “misaligned” with user expectations and it may not return to the model.

 

Investing

Financial Times

Two major US teachers’ unions have called on the SEC to investigate Apollo Global Management over what they describe as a “lack of candor” regarding the firm’s ties to Jeffrey Epstein. In a letter to the SEC’s enforcement division, the American Federation of Teachers and the American Association of University Professors said Apollo’s past disclosures to investors gave an “inaccurate and incomplete picture” of the firm’s and its executives’ connections to Epstein. Their request follows recent revelations that senior Apollo figures, including chief executive Marc Rowan, had extensive discussions with Epstein and shared internal documents, raising questions about Apollo’s 2020 statement that it had “never did any business” with him. Apollo’s links to Epstein have drawn scrutiny before. Co-founder Leon Black stepped down as CEO in 2021 after an independent review found he had paid Epstein $158m for financial and other advisory services. The unions argue that documents filed with the SEC in 2021, including that review, understated the breadth of Epstein’s ties to other Apollo executives.

 

Bloomberg

Financial Times

AIPCA has asked the Treasury Department and the IRS to simplify the "determine and document" requirement for taxes imposed on controlled foreign corporations. In a letter addressing Notice 2025-75, the AICPA highlighted that U.S. taxpayers may encounter significant challenges in obtaining necessary tax information, especially for transactions that have already closed. Reema Patel, senior manager for tax policy and advocacy at AICPA, said: "This guidance does not explain what level of analysis, substantiation or third-party information is required to comply with the 'determine and document' requirement." AICPA recommends that the IRS either eliminate or significantly reduce the documentation requirements to ease compliance burdens for taxpayers.

 

Accounting Today

The European Commission has opened a formal investigation into Shein for breaching the bloc’s rules on digital platforms, including the sale of illegal products such as childlike sex dolls, and the platform’s “addictive design” and lack of transparency in its recommendation algorithms. The move comes amid broader EU efforts to tighten oversight of the vast number of low-cost goods shipped from China into the bloc. Brussels is fast-tracking new fees on small online packages and has previously fined Shein €40m in France for misleading consumers over pricing and environmental claims. Pressure is also mounting on Shein over labor practices and its reliance on tariff exemptions for small parcels, factors that have complicated its stock market listing plans. While U.K. ministers have sought to attract Shein to list in London, regulatory scrutiny in Europe continues to intensify.

 

France 24

Financial Times

Reuters