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Chief financial officers at larger companies are significantly more optimistic about the economy and their own business prospects than their counterparts at midsized firms, according to a new U.S. Bank survey of 1,000 senior finance leaders. Among companies generating more than $5bn in annual revenue, 57% of CFOs expressed confidence in the U.S. economy over the next year, compared with just 24% at companies with revenue between $100m and $250m. Larger organizations also reported stronger returns from artificial intelligence investments, measuring ROI on a greater share of projects and achieving positive returns more frequently than smaller firms. The survey found growing emphasis on revenue growth and cash flow improvement alongside ongoing cost-cutting efforts, while geopolitical tensions, inflation, borrowing costs, cybersecurity threats, and talent shortages ranked among the top risks facing finance leaders. Large companies were also more likely to adopt emerging payment technologies such as stablecoins, highlighting a widening gap in resources and innovation capabilities between larger and smaller businesses.

 

CFO

Guide: Align FP&A and Cash Forecasting to Navigate Market Uncertainty with Confidence

FX swings, tariff pressure, and tighter capital markets are exposing a structural gap most finance teams already know exist. When FP&A and cash forecasting run on separate tracks, timing suffers, credibility with the board weakens, and capacity gets consumed by reconciliation instead of analysis. This 2026 guide gives finance leaders a practical framework and a 12-question scorecard to close the gap before market shifts force the issue.

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Tyson Foods has appointed board member and former Procter & Gamble executive Jeff Schomburger as its next chief executive, succeeding Donnie King, who has led the meat producer since 2021 and helped restore profitability in its poultry business. Mr. Schomburger, who has served on Tyson’s board since 2016 and became lead independent director in 2025, will assume the chief executive role on October 4th following a transition period beginning in July.

 

CNBC	Wall Street Journal

OpenAI’s foundation, the non-profit that controls the start-up, has said it will grant $250m to promote research into AI’s impact on the economy and jobs. The ‌funds will support research into AI's impact on the labor market, support workers and communities facing near-term displacement and ​explore new ways to distribute economic gains from the technology more ​broadly. "The current pace of change means the window to get ⁠this right is shorter than we're used to, and the ​cost of getting it wrong is profound," OpenAI said in a statement.

 

Financial Times

NPR

Reuters

Accountants and finance professionals increasingly want careers that contribute to environmental and social causes, according to a new survey from the Association of Chartered Certified Accountants, although many also report growing concerns about mental health and workplace pressures. The survey of more than 11,000 finance professionals across 160 countries found that 69% globally want future roles that contribute to social impact. In North America, 59% said they want jobs that help address environmental and climate issues, while 63% want finance roles that deliver social impact. Social issues also play a major role in employer selection, with 70% of respondents saying a company’s reputation on social and human rights issues is an important attraction factor. Half of North American respondents identified the social aspect of ESG as more important than environmental or governance considerations. At the same time, work-related stress remains a major issue. In North America, 56% of respondents said their mental health suffers because of work pressures, up from 46% last year.

 

Accounting Today

Initial claims for U.S. unemployment benefits rose modestly last week, indicating layoffs remain relatively low despite economic uncertainty linked to the ongoing Iran conflict. The Labor Department said initial jobless claims increased by 5,000 to a seasonally adjusted 215,000 in the seven days to May 23rd, slightly above economists’ expectations of 211,000. Claims have largely remained within a 190,000 to 230,000 range throughout 2026. The four-week moving average rose to 209,000 while continuing claims, reported with a one-week lag, increased 15,000 to a seasonally-adjusted 1.786m. “Initial jobless claims continue to run below year-ago levels," commented economist Eliza Winger. "Expectations of AI-driven automation and heightened geopolitical uncertainty haven’t had a meaningful impact on weekly unemployment insurance claims activity so far.”

 

Quartz

Bloomberg

Reuters

The U.S. economy grew at an annualized rate of 1.6% in the first quarter of 2026, revised down from an earlier estimate of 2%, according to updated Commerce Department data. The downgrade was primarily driven by weaker inventory investment, while consumer spending growth was also revised lower. Consumer spending increased at a 1.4% annual rate during the quarter, down from the prior estimate of 1.6%, with softer spending on services such as healthcare contributing to the revision. Despite slower economic growth, corporate profits remained strong. Profits after tax, excluding inventory valuation and capital consumption adjustments, rose 3.3% from the previous quarter and climbed 17% year over year, marking the strongest annual increase since the fourth quarter of 2021.

 

Reuters

Wall Street Journal

Federal prosecutors have charged a Google employee with fraud, alleging that he made $1.2m from bets on Polymarket that used insider information. Michele Spagnuolo, an Italian citizen, has been charged with money laundering, commodities fraud and wire fraud, according to the complaint filed in the Southern District of New York. “Spagnuolo had access to Google’s internal data systems, including a particular Google internal software tool that provided him access to confidential, nonpublic Year in Search data,” the prosecutors said in their complaint. “Google officially and publicly announced its Year in Search 2025 results on or about December 4, 2025. Soon after it did so, Spagnuolo’s AlphaRaccoon account profited approximately $1.2 million on his Google Year in Search 2025-related bets,” the complaint said. A Google spokesperson, responding to the charges against Spagnuolo, said: "Using such confidential information to place bets is a serious breach of our policies. We've placed the employee on leave and will take the appropriate action."

 

ABC News

Sen. Elizabeth Warren (D-MA) has proposed new taxes on artificial intelligence companies and data centers, arguing that the economic gains from AI should “benefit all Americans” rather than a small group of wealthy technology executives and investors. In an op-ed published in Time magazine, she calls for a redesign of the U.S. tax system to address AI-driven wealth creation, rising energy demands, and job displacement. Warren proposes an excise tax tied to the electricity consumption of AI data centers, saying the revenue could help offset rising utility costs for households. She argues that current tax policies favor automation over hiring workers by effectively giving companies tax advantages for investing in equipment and AI systems instead of human labor. Warren also suggests broader future taxes on AI companies, although she did not provide additional details.

 

The Hill

Billionaire Tilman Fertitta has agreed to acquire Caesars Entertainment in a $5.7bn deal, while also assuming more than $11bn of debt, marking a major bet on the long-term prospects of Las Vegas and the casino industry. The transaction combines Caesars’ portfolio of more than 50 resorts with Fertitta’s Golden Nugget casinos, restaurants, and hospitality businesses. The deal comes as Las Vegas faces slowing visitor numbers, rising costs that have deterred some travelers, and growing competition from online gambling platforms such as DraftKings, FanDuel, and emerging prediction markets. Fertitta’s team said its private ownership structure and long-term investment approach could help revive Caesars, whose shares have fallen 70% over the past five years. Caesars’ current management is expected to remain in place, while the company enters a go-shop period to consider any competing bids

 

USA Today

Wall Street Journal

Gap has lowered its full-year sales guidance after weaker-than-expected first-quarter performance at Old Navy, its largest brand, overshadowed stronger profitability and growth at its namesake chain. The retailer now expects annual sales growth of 1%-2%, down from its previous forecast of 2%-3%, after Old Navy delivered comparable sales growth of 1%, below analyst expectations of 3%. The three months to May 2nd brought revenues of $3.5bn, up from $3.46bn a year earlier, and net income of $339m, or 38 cents per share adjusted, up from $193m. "We’re winning with all income cohorts across low, middle, and high", said chief executive Richard Dickson. "When you have the right product at the right price value equation, customers are there, and our seasonal categories just got off to a weaker start". Shares fell 14%, to $21.56 after hours.

 

Bloomberg

CNBC

Reuters

Wall Street Journal

Elena Carletti, UniCredit's deputy vice chair and head of the board's ​risk committee, has said Europe may struggle to respond to risks from links between crypto assets and lenders in the way U.S. authorities contained ​damage during the 2023 Silicon Valley Bank (SVB) crisis. "The coverage and protection . . . was given to all ​deposits, including stablecoin companies, and that also allowed to maintain the stability of the ‌stablecoin," ⁠Carletti told attendees at a banking conference organized by Madrid's IESE business school.  "The same decision cannot be easily taken in Europe," she said.

 

Reuters

Andrew Yates, chief executive of KPMG Australia, has resigned after the accounting firm said investigations into a whistleblower’s claims had fallen short of its standards. It was alleged that KPMG improperly used confidential information from its client Lendlease to win audit work with Westpac and Dexus, and that it had repeatedly failed to act on the whistleblower’s complaint. “The initial internal investigation, that did not substantiate the allegations raised by the whistleblower, was in hindsight not conducted with the necessary rigour required,” the firm said in a statement, adding that an external investigation into the whistleblower’s complaints by law firm Allens would continue “with new evidence and an expanded scope.” KPMG said it was “continuing to challenge the conclusions reached in prior investigations.”

 

Australian Financial Review

Financial Times

The Guardian

Panama's National Assembly has approved a law that requires ‌multinational companies domiciled in the country to demonstrate genuine local operations, including qualified personnel, adequate facilities and strategic decision-making, or face a 15% tax on passive foreign income. "At the ​fiscal level, it requires multinationals to demonstrate that they have ​physical operations and real activity in a country, beyond just seeking tax advantage," the National Assembly said. The law aims to satisfy European Union tax transparency requirements ⁠and support Panama’s removal from EU monitoring lists.

 

Reuters