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CNBC reports on companies that have walked back their hiring plans after rapidly changing their minds that artificial intelligence can “do it all,” to focus more on human capital. Ford has rehired hundreds of experienced human engineers to work on quality issues that automated systems couldn’t fix, and Commonwealth Bank of Australia and IBM are also said to be refocusing on human capital after making layoffs while investing in AI. IBM replaced its HR functions with AI that handled around 94% of routine requests but was unable to meet the other 6%, which included ethical dilemmas. “Budgeting on ‘tech to replace humans’ without investing in training or upskilling left teams unprepared to leverage AI,” a report from Intuition Labs observed. “Notably, among companies pushing automation, many later ‘regretted’ layoffs, having cut the very people needed to oversee AI,” it added.

 

CNBC

California has partnered with Anthropic to provide state workers access to its AI assistant, Claude, at a 50% discount. Governor Gavin Newsom emphasized that “AI should not replace the human work of government; it should help our workers move faster, solve problems more effectively, and deliver better results for Californians.” However, concerns about job security and data privacy persist, with union leaders expressing skepticism about the initiative. Despite political challenges, including a recent clash with the Trump administration over national security, Anthropic aims to expand its influence in government sectors. The partnership reflects a growing trend of integrating AI into public services, with state agencies already utilizing Claude to enhance efficiency and customer service. “As state employees, our goal is to provide our fellow Californians with the best possible service,” Government Operations Agency Secretary Nick Maduros said. “To do that, we need to make sure our teams have access to the best modern tools, including Claude and other emerging technologies.”

 

Los Angeles Times

Microsoft plans to cut under 2.5% of its workforce in the latest round ​of layoffs that could be announced as early as ‌next week. The ​layoffs will impact thousands of roles, including sales and consulting, as ​well as jobs at the company's Xbox gaming division. Some affected employees will be offered new roles immediately, according to people familiar with the situation.

 

Business Insider

The Supreme Court has upheld the Constitution's guarantee of birthright citizenship, rejecting President Trump's attempt to limit citizenship for children born to undocumented or temporary residents. Chief Justice John G. Roberts said: “Citizenship, then and now, was the right to have rights - to freely participate in our political community . . . The Framers of the 14th Amendment extended that promise to ‘every free-born person in this land.' We keep that promise today.” The court's interpretation of the 14th Amendment, which states that “all persons born or naturalized in the United States” are citizens, reinforces the principle of citizenship by birth rather than parentage. Trump's executive order aimed at revising citizenship laws was blocked as unconstitutional, underscoring the court's commitment to constitutional principles over executive power. The American Civil Liberties Union (ACLU), which represented the immigrants who challenged the executive order, called birthright citizenship “foundational to who we are as a nation.” Cecillia Wang, the ACLU's national legal director, told the justices in her oral argument: "Ask any American what our citizenship rule is and they'll tell you, everyone born here is a citizen alike . . . The 14th Amendment's fixed bright-line rule has contributed to the growth and thriving of our nation."

 

The State Journal Register

Time.com

Los Angeles Times

U.S. News

Apple has won Supreme Court review of its appeal against a contempt ruling in its long-running legal dispute with Epic Games, with the justices agreeing to consider whether the company can be held in contempt for allegedly violating the spirit, rather than the explicit terms, of a 2021 injunction governing App Store payment rules. The case stems from Epic’s antitrust lawsuit challenging Apple’s App Store practices, after a federal judge ruled in 2025 that Apple violated the injunction by imposing a 27% commission on purchases made through third-party payment systems linked from apps. While Apple argues it complied with the court’s order and that the contempt finding is legally flawed, Epic said it will continue to challenge what it describes as anticompetitive fees on alternative payment methods. The Supreme Court is expected to hear the case during its next term beginning in October.

 

Bloomberg

Reuters

Cal-Maine Foods, Versova, and Hickman's Egg Ranch have reached settlement agreements with the U.S. Department of Justice and 17 states to resolve allegations that they colluded to inflate egg prices between June 2022 and March 2025 by coordinating pricing submissions to a key industry index. While the companies denied wrongdoing, they agreed to pay a combined $3.3m to the states, donate 53m eggs to food banks and non-profit organizations, and implement antitrust compliance measures, including restrictions on communications with competitors over pricing and bidding. The investigation followed a period in which U.S. egg prices surged to a record average of $6.23 per dozen in March 2025 before falling below $2.20 per dozen by May 2026 as poultry flocks recovered from the bird flu outbreak.

 

CBS News

US News and World Report

Wall Street Journal

The Labor Department reported on Tuesday that U.S. job openings rose slightly to 7.59m in May, exceeding economists' expectations of 7.3m according to a Bloomberg report and indicating that labor demand remained steady despite broader economic uncertainty. The increase was driven by gains in construction and leisure and hospitality, while openings in financial activities declined for a second straight month and professional and business services remained largely unchanged after a strong increase in April. The Job Openings and Labor Turnover Survey (JOLTS) also showed the quits rate holding steady at 1.9%, suggesting workers' confidence in changing jobs was stable, while layoffs edged higher, particularly in construction and healthcare. The ratio of job openings to unemployed workers remained unchanged at one-to-one, highlighting a more balanced labor market than in recent years. Economists expect additional insight into hiring trends from Thursday's June employment report, which is forecast to show the U.S. added 110,000 jobs.

 

CNN

Bloomberg

Wall Street Journal

Business activity in the Chicago area eased in June but continued to expand, with the Chicago Business Barometer falling to 56.7 from 62.7 in May, which had marked its highest level since January 2022. The reading exceeded economists' expectations of 55 and remained above the 50-point threshold that signals expansion for a second consecutive month. The slowdown was driven by declines in new orders and production, although both indicators remained supported by stronger supplier deliveries, order backlogs, and employment. Meanwhile, the prices paid index rose to its highest level since May 2022, as businesses cited higher oil and metal costs as the primary drivers of rising input prices.

 

RTT News

Wall Street Journal

U.S. consumer confidence improved modestly in June, with the Conference Board's Consumer Confidence Index rising to 91.2 from a downwardly revised 90.6 in May, although the reading fell short of economists' expectations of 94.2. The increase was driven by improving expectations for income, business conditions, and the labor market, supported by moderating gasoline prices and easing concerns over energy costs following the U.S.-Iran ceasefire. Despite the overall improvement, consumers' assessment of current business and labor market conditions weakened, and perceptions of job availability continued to deteriorate. The share of respondents saying jobs were "hard to get" reached its highest level in more than five years, underscoring ongoing labor market concerns ahead of the June employment report, which economists expect will show the U.S. added 115,000 jobs.

 

Reuters

Wall Street Journal

Nike has reported flat annual revenue of $46.4bn for the year to May 31st, with fourth-quarter sales slipping 1% to $11bn. Excluding a one-off $986m tariff refund recognized during the quarter, earnings per share increased to $0.20 from $0.14 a year earlier and exceeded analysts' expectations of $0.12. Wholesale revenue, which accounts for around 60% of sales, rose 4% to $6.6bn as Nike continued rebuilding relationships with retail partners, while direct-to-consumer sales fell 7% to $4.1bn as the group reduced its reliance on its own stores and website. North America, Nike's largest market, returned to growth with sales up 3% to $4.8bn, although China remained a significant drag with revenue down 12%. 

 

Bloomberg

Financial Times

The Oregonian

Wall Street Journal

Authentic Brands Group has acquired the Care Bears brand from private equity firms IVEST Consumer Partners and Cloverlay, ending a three-year ownership period during which the investors expanded the brand through licensing and royalty agreements. Care Bears, which is expected to generate more than $750m in retail sales this year and has produced over $12bn in retail sales since its launch in 1981, saw revenue increase around fourfold under IVEST and Cloverlay's ownership. The firms also expanded the brand's intellectual property portfolio to more than 1,000 licensing agreements, using minimum guaranteed royalty contracts to provide more predictable revenues, before selling the business to Authentic, which said entertainment now accounts for around 20% of its operations and is its fastest-growing division.

 

Wall Street Journal

Apple has accused the Competition Commission of India (CCI) of "copy-pasting" its rivals' claims and failing to properly conduct its own investigation in concluding the U.S. tech firm breached competition laws. In a submission, Apple argued that Indian antitrust investigators had not done their own analysis and instead indulged in "copy-pasting" many submissions from the company's opponents in the CCI case such ​as Tinder-owner Match, Walmart's Indian payments app, PhonePe, and Indian rival Paytm. Apple denies claims made by CCI investigators in a privately issued report in 2024 which said the company engaged in "abusive conduct" on the apps platform of its iOS operating system, and wrongly mandated the use of its payment system.

 

Reuters

The Australian government is considering major reforms to Deloitte, EY, KPMG, and PwC, following a series of high-profile misconduct scandals, including proposals to separate audit and consulting businesses, bring firms under the oversight of the Australian Securities and Investments Commission, cap partnership sizes, and require mandatory audit firm rotation. The Treasury said the measures are aimed at restoring public trust and addressing conflicts of interest exposed by the PwC tax leaks scandal and allegations involving KPMG. The firms said they broadly welcome the consultation and support reforms that strengthen governance, transparency, auditor independence, and confidence in the profession.

 

Reuters