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North American Edition
13th February 2026
 
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THE HOT STORY

New jobless claims fall to 227,000, signaling steady labor market

U.S. applications for unemployment benefits fell by 5,000 to 227,000 in the seven days to February 7th, remaining within a historically healthy range, the Labor Department reported on Thursday. The figure was in line with expectations and suggests layoffs remain relatively low despite recent high-profile job cuts at companies such as UPS, Amazon and Dow. The four-week average of claims rose slightly to 219,500, while continuing claims, reported with a one-week lag, increased to 1.86m. Recent data showed employers added 130,000 jobs in January and the unemployment rate dipped to 4.3%, though revisions sharply reduced previously reported job gains for 2024–2025. Economists remain divided on whether the stronger January hiring marks a rebound or a temporary uptick, as uncertainty over tariffs and high interest rates continues to weigh on the labor market.
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REGULATION

U.S. antitrust chief resigns amid tensions with Trump officials

Gail Slater, the head of the U.S. Justice Department's antitrust division, which enforces laws against illegal monopolies, has stepped down less than a year after being appointed by President Donald Trump. Earlier this week, Mark Hamer, the second-in-command at the division, said he was exiting the Trump administration after nearly a year in the role. Reuters says the departures leave the division with few senior leaders at a time when companies facing antitrust investigations have increasingly hired Trump-connected lobbyists to influence the outcomes of their cases. Omeed Assefi, another senior official in the antitrust division, is expected to become its acting director, according to people familiar with the matter.

Trump revokes U.S. scientific finding behind climate change rules

The U.S. Environmental Protection Agency has announced the repeal of the “endangerment finding,” a scientific determination made in 2009 during Barack Obama’s administration, which empowered the EPA to regulate greenhouse gases. The rule classified carbon dioxide and five other greenhouse gases as a threat to public health. The endangerment finding underpinned regulations that set emissions standards for cars and light trucks, power plants, and oil and gas industry facilities. “This is about as big as it gets,” President Donald Trump said at the White House with EPA Administrator Lee Zeldin. Obama said in a social media post that the Trump administration’s action makes the U.S. “less safe, less healthy and less able to fight climate change - all so the fossil fuel industry can make even more money.”
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CORPORATE

Top Goldman Sachs lawyer to resign over Epstein links

Goldman Sachs general counsel Kathy Ruemmler is to resign after documents released by the Department of Justice revealed the extent of her ties with convicted pedophile Jeffrey Epstein. Ruemmler told the Financial Times that she would depart the Wall Street lender on June 30. In a statement, Goldman CEO David Solomon said: “As one of the most accomplished professionals in her field, Kathy has also been a mentor and friend to many of our people, and she will be missed. I accepted her resignation, and I respect her decision.”
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ECONOMY

Trump plans to roll back tariffs on metal and aluminum goods

The Financial Times reports that President Donald Trump is planning to scale back some tariffs on steel and aluminum goods, as he battles an affordability crisis that has sapped his approval ratings ahead of November’s midterm elections. Sources close to the White House say that a review of the list of products affected by the up-to 50% tariffs is underway, citing a belief among trade and commerce officials that consumers are being hurt by higher costs for goods such as pie tins and food and drink cans. That viewpoint is supported by a new report from the Federal Reserve Bank of New York, which says that 90% of the tariffs imposed by the president on imported goods are borne by American consumers and companies. The paper said that between January and August of last year, Americans took 94% of the hit from Trump’s tariffs. During September and October, that ebbed to 92%, settling to 86% in November.
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LEADERSHIP

Target's leadership team gets a makeover

Target chief executive Michael Fiddelke is restructuring his leadership team shortly after taking the helm. Chief commercial officer Rick Gomez, a 23-year company veteran, will leave, while Jill Sando, chief merchandising officer, will retire. Lisa Roath will step into Mr Fiddelke's former role as chief operating officer, and Cara Sylvester will become the new chief merchandising officer. Mr Fiddelke said: "These leadership changes align the right talent and expertise with key roles, and simplify our structure so we can advance our strategy with greater speed, clarity and accountability". The company is also increasing store staffing while cutting about 500 jobs at distribution centers and regional offices, as it faces challenges in consumer spending and operational issues.
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LEGAL

Kaiser reaches $30m settlement with U.S. Labor Dept

The U.S. Department of Labor has announced a settlement with Kaiser Foundation Health Plan to resolve multiple investigations into the company’s failure to provide timely and appropriate access to mental health and substance use disorder services. The agreement resolves claims that Kaiser failed to maintain adequate provider networks for mental health and substance use disorder care, and improperly used patient responses to questionnaires to deny care, the Labor Department said. "We have made many enhancements to our mental health care delivery system and acknowledge there is still work to be done to ensure our interventions and therapies are aligned with our members' expectations and to ensure we achieve the best patient outcomes," Kaiser said in an emailed statement.
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TECHNOLOGY

Cadence unveils 'virtual chip engineer'

Cadence has rolled out the ChipStack AI Super Agent to help automate and speed chip design work, where teams can spend up to 70% of their time writing and testing code. The AI agent builds a “mental model” of a design, then tests and fixes issues using Cadence tools. Cadence said some tasks are up to 10x faster, with early users including Nvidia, Altera and Tenstorrent. Cadence's Paul Cunningham said the company aims to “rent you virtual engineers.”
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INTERNATIONAL

Coupang faulted for data preservation failures in Korean breach probe

South Korea’s science ministry has said Coupang failed to comply with government orders to preserve data during an investigation into a breach affecting nearly 34m shoppers, limiting authorities’ ability to fully assess the incident. The ministry said Coupang did not adjust its automatic data-retention policies as instructed, leading to the deletion of access logs linked to the probe. According to officials, a former staff engineer improperly accessed and exposed 25.6 terabytes of personal data, including names, phone numbers, addresses, and building access codes, over several months. Coupang said it has cooperated with investigators and that there is no evidence of secondary harm, but the case has escalated into a political dispute between Seoul and Washington, with U.S. officials criticizing Korea’s regulatory response. Multiple Korean agencies are continuing investigations, while Coupang has pushed back against what it describes as an unfair crackdown.

U.K. leads the world in concern about migration

People in the U.K. are far more concerned about immigration than people in other countries with similar levels of migrants, according to a Gallup poll. According to Gallup's inaugural World’s Most Important Problem report, just over one in five Britons (21%) named immigration as their No. 1 concern, statistically tied with mentions of the economy (23%). In only six other countries, including the Netherlands (13%), Portugal (12%) and Ireland (11%) do at least one in 10 adults name immigration as the most important national problem. Nevertheless, the poll found that despite high levels of national concern, most Britons said immigration is a good thing - a sentiment that grew over time between 2016 and 2023.

Amazon logistical centers in Italy are inspected

The Italian Data Protection Authority and the National Labour Inspectorate have launched a joint oversight initiative targeting Amazon logistical centers. "The activity," a statement explains, "arises from technical investigations initiated in response to press reports that highlighted potential critical issues in the acquisition and processing of workers' personal data and the use of video surveillance systems in the absence of the guarantees required by the Workers' Statute. The intervention concerns the main logistics hubs, specifically the Passo Corese and Castel San Giovanni centers."
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OTHER

Study finds majority of U.S. baby food is 'ultra-processed'

Nearly 71% of baby food sold in U.S. grocery stores is classified as ultra-processed foods (UPFs), according to a study published in Nutrients. These products are high in sugar and sodium, and contain numerous additives like flavor enhancers and emulsifiers. Lead researcher Elizabeth Dunford from the George Institute for Global Health said: "Infancy is a critical time for shaping lifelong eating habits." She warned that high UPF consumption is linked to future health issues. The study calls for better nutrition labeling and stricter regulations to protect infant health.
 
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