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North American Edition
24th June 2026
 
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THE HOT STORY

Meta to pause internal mouse-tracking tech

Meta is pausing an internal program that tracks ​employee mouse movements and digital activity for AI training amid reports that sensitive employee data, intended to monitor digital interactions within Meta's internal systems, was accessible to all Meta ​workers. "We have carefully designed this program ​with privacy safeguards and while we have no indication at this time that ​any data was improperly accessed by Meta employees, we're pausing it while we investigate," said Meta spokesperson Tracy Clayton. The tool - Model Capability Initiative (MCI) - was launched in April.
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ECONOMY

Private sector growth accelerates in June as manufacturing strengthens

U.S. private sector business activity continued to expand in June, with the S&P Global Flash U.S. Composite PMI rising to 52.2 from 51.5 in May, signaling ongoing economic growth. Manufacturing output increased at its fastest pace since July 2021, supported by the strongest rise in new orders in more than four years, while the services sector reached a four-month high. The survey also found that businesses reduced staffing levels amid concerns about the economic outlook and rising costs, particularly for raw materials. “The service sector continues to grow at an especially subdued pace, reflecting push-back from customers over high prices amid low levels of consumer confidence in particular,” said Chris Williamson, chief business economist at S&P Global Market Intelligence. “While there is better news from the manufacturing sector, we remain concerned as factory growth continues to be temporarily buoyed by inventory building amid supply fears.”
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STRATEGY

Oracle cuts 21,000 jobs as it embraces AI

Oracle has shed about 21,000 roles globally in the last year as the technology giant reshapes its business around AI, the firm's latest annual report shows. The software and cloud computing firm said it had around 141,000 full-time employees as of 31 May 2026, down from about 162,000 workers at the same time last year. The "deployment of AI technologies across our operations have resulted, and may continue to result, in reductions to our workforce," the report said.
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LEGAL

Uber board sued over alleged compliance failures, sexual abuse lawsuits

Uber's board has been sued in San Francisco federal court by shareholders led by ​a Detroit pension fund, who accuse the ride-sharing company's management and directors of allowing corners to be cut on compliance, precipitating thousands of lawsuits from victims of sexual ​assault and harassment. "Uber is a serial compliance offender," whose reputation has been "irredeemably damaged" by negative media ​coverage, the complaint says. A spokesperson for Uber said the lawsuit "ignores important facts and is ​based on misleading, false narratives from other meritless lawsuits that we have already addressed publicly and in the ‌courtroom.”
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CORPORATE

AI-fueled megadeals put global M&A market on track for $4tn year

Global mergers and acquisitions activity is on pace to reach $4tn in deal value in 2026, marking the strongest year since 2021, according to PwC. The surge has been driven largely by a growing number of megadeals tied to artificial intelligence (AI), with transactions valued above $5bn accounting for nearly half of total global deal value so far this year. PwC said AI is reshaping the M&A landscape by redirecting capital and accelerating consolidation among companies seeking to strengthen their competitive positions. Notable transactions include SpaceX’s proposed $60bn acquisition of AI startup Cursor and Salesforce’s $3.6bn purchase of customer service platform Fin. While large deals continue to gain momentum, PwC noted that mid-market transactions remain constrained by geopolitical uncertainty, valuation disagreements, inflation, higher interest rates, and a backlog of private equity exits.
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SUSTAINABILITY

U.N.'s Guterres urges AI firms to detail environmental impact

U.N. Secretary-General António Guterres has urged AI companies to disclose their environmental impact, including carbon emissions, water, and land usage. Speaking at London Climate Action Week, he proposed the AI Environmental Transparency Initiative, as he highlighted the need for standardized reporting. Mr Guterres noted that data centers, which support AI, accounted for 1.5% of global electricity consumption in 2025. This is projected to rise to nearly 3% by 2030. “By 2030, [data centers] could use ⁠more power than all but five countries – and enough water to meet the basic needs ​of all 1.3 billion residents of sub‑Saharan Africa for an entire year,” he said. “If AI is to help build a better ​future, it must be honest about what it costs us now.”
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TAX

Congressional report finds childcare tax breaks largely underused by families and employers

A new congressional report finds that existing tax incentives designed to help families and employers manage childcare costs are significantly underutilized, despite concerns that inadequate childcare access could cost the U.S. economy hundreds of billions of dollars over the next decade. The report highlights low participation in the Child and Dependent Care Tax Credit, which is claimed by only about 12% of taxpayers with children, as well as limited use of dependent care assistance programs that allow employees to pay for childcare with pretax income. It also notes that fewer than 1% of corporate tax returns have claimed the federal employer childcare tax credit, which can offset the costs of providing childcare benefits. The report argues that greater awareness and use of these incentives could generate substantial savings for both businesses and working families, while improving employee retention, productivity, and access to childcare.
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REMUNERATION

CEO pay reaches new highs

Executive compensation reached record levels in 2025, with a growing number of U.S. chief executives receiving pay packages worth more than $100m, driven largely by massive stock-based awards tied to ambitious long-term performance targets. According to the Wall Street Journal’s annual analysis, median CEO pay at S&P 500 companies rose to a record $17.9m, while nearly a dozen executives received packages exceeding $200m. Welltower CEO Shankh Mitra ranked among the highest-paid leaders with compensation valued at $821m, primarily through long-term stock grants, while Tesla CEO Elon Musk’s $158bn package dwarfed all others. The surge reflects the increasing use of “moonshot” compensation plans designed to reward executives for achieving aggressive growth and shareholder value targets, although the report noted that high pay levels often showed little correlation with company stock performance.
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INTERNATIONAL

KPMG Australia’s chair and senior partners to depart in wake of audit scandal

KPMG Australia has announced the departures of chair Martin Sheppard and audit partners Paul Rogers and Eileen Hoggett as the firm responds to escalating allegations that confidential client information was improperly used to help secure audit contracts. The resignations follow the earlier exits of the firm's chief executive and audit chief, and come amid multiple investigations into claims that sensitive information from clients including Lendlease and Optus was shared inappropriately. KPMG said it will overhaul its governance structure, appoint an independent chair, add independent board members, and review sanctions for staff misconduct as it seeks to rebuild trust.

Evonik to cut 3,200 jobs by 2029

German chemicals group Evonik is to cut 3,200 jobs worldwide between 2027 and 2029, most of them in its home market of Germany. Evonik is also to discontinue its global polyester ‌business ⁠in 2027, affecting about 350 roles at its German sites in Witten and Marl and the Chinese site in Shanghai. "Global competitive pressure, structural disadvantages in Europe, and ​declining market ​dynamics mean that ⁠none of the alternatives examined would have been economically viable for Evonik in the ​long term," executive board member Lauren Kjeldsen, who ​is ⁠responsible for the unit, said.

Kenya labor minister accused over Russian forced recruitment

Hundreds of Kenyans who were promised well-paid civilian jobs in Russia ended up being forced to sign contracts with the Russian army, often at gunpoint. While Kenya officially estimates that 291 of its citizens have been victims of Russia's "irregular military recruitment" - including 19 who are now dead and 32 missing - a report by the Kenyan intelligence services puts the total at more than 1,000 and says officials were complicit. Three senior Kenyan sources have told AFP that Labour Minister Mutua was personally and politically involved in the scam. Mutua was questioned by parliament in 2025 about recruitment fraud for workers destined for the Gulf, but so far has escaped reprimand.
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OTHER

States - not armed groups - are top killers of children in war, UN says

A UN report reveals that, for the first time in 30 years, government forces rather than armed groups are responsible for the majority of grave violations against children in conflict zones. Israel topped the list countries responsible for violations, followed by the Democratic Republic of the Congo, Nigeria, Myanmar, Somalia, and Sudan. Vanessa Frazier, the UN's special representative for children and armed conflict, said the report's findings were indicative of “a worrying shift” and “a deeper erosion of respect for international law.” The report found 38,558 verified grave violations against 24,174 children during 2025, the highest number since the UN's mandate on children and armed conflict was created in December 1996.
 
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