THE HOT STORY

Home Depot tightens bonus targets as housing slowdown bites

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

REMUNERATION

U.S. bank CEOs earned $258m in 2025

CEOs at six of the largest U.S. banks earned a combined $258m in 2025, up 21% year on year, as strong economic conditions and Wall Street activity boosted results. Leaders of JPMorgan Chase, Bank of America, Citigroup, Goldman Sachs, Morgan Stanley and Wells Fargo each received $40m or more. Morgan Stanley’s Ted Pick and Wells Fargo’s Charlie Scharf saw the largest increases, while JPMorgan’s Jamie Dimon earned $43m. The banks generated nearly $600bn in revenue, up 6%, with profits rising 8%, supported by dealmaking, trading, lending and consumer spending.

Wall Street Journal

STRATEGY

American Eagle to close MA distribution facility

American Eagle Outfitters plans to lay off 103 workers at its distribution facility in Devens, starting April 12th. The decision follows the closure of the center, which was previously part of Quiet Logistics, acquired by American Eagle for $360m in 2021. The company said that the move is part of a restructuring strategy to enhance profitability. “This strategic decision will enable American Eagle to prioritize growth and focus on its portfolio of leading lifestyle brands,” the company said. American Eagle also expressed its commitment to support affected employees during this transition.

Boston Globe

LEGAL

AT&T faces lawsuit over diversity proposal exclusion

Four New York City pension funds have filed a lawsuit against AT&T, alleging that the company wrongfully excluded a shareholder proposal regarding the diversity breakdown of its workforce. The funds argue that AT&T's reliance on a new SEC policy to block the proposal violates regulations, and causes "irreparable" harm. This lawsuit further highlights concerns over AT&T's recent halt of public diversity disclosures, which were previously made regularly from 2021 to 2023.

Reuters

REGULATION

President Trump escalates assault on U.S. consumer protection agency

The Trump administration has intensified its assault on the U.S. Consumer Financial Protection Bureau (CFPB), claiming the agency it is trying to dismantle has cost Americans hundreds of billions of dollars in extra borrowing costs. The analysis by the Council of Economic Advisers suggests that the CFPB regulations have raised interest rates and restricted access to credit, estimating that affected borrowers paid on average 16 basis points more on regulated loans, increasing costs by $237bn-$369bn since 2011. Acting director Russell Vought said the agency had made credit “dramatically more unaffordable” and reiterated his aim to shut it down. CFPB data shows it has returned nearly $20bn to consumers and secured $5bn in fines since its creation.

Financial Times

PYMNTS

TECHNOLOGY

PwC Canada launches ISO 42001 AI Governance Certification

PwC Canada has introduced a new certification solution aligned with ISO 42001, the world’s first international standard for AI management systems, aimed at helping organizations govern artificial intelligence responsibly. The firm says it is the first of the Big Four to offer accreditation services for the new standard, which provides an auditable framework for AI governance. The certification is designed to give organizations independent assurance that their AI systems are developed and managed in a trustworthy and transparent manner. The new offering helps businesses strengthen AI oversight frameworks, assess data management practices to reduce bias and model risk, enhance security controls, and test monitoring systems.

Consulting

INTERNATIONAL

Amazon searched in new Italian tax probe

Tax police in Italy have searched Amazon's headquarters in Milan in a new tax evasion probe, two sources have told Reuters. The Guardia di Finanza tax police also searched the homes of seven Amazon managers and the offices of auditing firm KPMG. The tech giant said in a statement that the Milan prosecutors' actions were "aggressive and wholly disproportionate" at a time when it was engaged in a "transparent dialogue with Italian tax authorities to gain clarity on complex technical matters." The ongoing investigation is examining whether the company had an undisclosed, permanent base in Italy from 2019 to 2024 and should therefore have paid more local taxes.

Reuters

GE trains robots for repairs

GE Aerospace is upgrading its Singapore repair hub with automation, digital tools, and AI to address overloaded engine repair queues and scarce parts. Veteran technician Suresh Sinnaiyan is teaching a robot to replicate the delicate manual “blending” of compressor blades, a task requiring “eye, feel and coordination.” GE says the broader effort could total up to $300m and raise repair volume by 33% without expanding floor space. CEO Larry Culp said, “It’s not about sprinting at quarter’s end . . . It is making every hour and every day count.”

Reuters

China issues labor guidance for platform firms

China's Ministry of Human Resources and Social Security, alongside six other departments, has issued new guidelines to protect workers in the gig economy. The initiative targets companies including Meituan, Didi Chuxing, and YTO Express. Authorities emphasised the need for these firms to fulfil their employer responsibilities and enhance labor management practices. The government said it aims to stabilise and expand employment by safeguarding the rights of individuals engaged in flexible work arrangements. "We will do more to protect the rights and interests of people in new forms of employment," a spokesperson said.

Chinadaily US Edition

OTHER

Apple sets March 4th launch event for new Macs and devices

Apple has announced a product launch event on March 4th, where it is expected to unveil several new devices, including updated MacBook Pro models. The company has invited media to in-person events in New York, Shanghai and London, suggesting a smaller-scale showcase rather than a traditional keynote at its California headquarters. Apple is preparing a range of new releases for the first half of 2026, including refreshed MacBook Air models, a lower-cost MacBook, new iPads and an updated mid-tier iPhone 17e.

Bloomberg

Forbes

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