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Global artificial inteligence (AI) adoption is accelerating, with 89% of companies regularly using AI in at least one business function and 44% scaling it across their organizations, according to a McKinsey survey. However, just 37% report a positive impact on their bottom line. Only 6% qualify as “AI high performers,” with these companies more likely to redesign workflows around AI, prioritize growth and innovation, establish clear performance metrics, and give senior leaders ownership of AI strategy. AI is also beginning to reshape workforces, with 39% of respondents expecting AI-related headcount reductions over the next year, although only 14% have experienced such declines so far. McKinsey argues that productivity improvements alone do not guarantee higher profits, with companies needing to redesign end-to-end workflows and operating models to translate growing employee AI capabilities into measurable financial returns.

 

Consulting

Marketers are getting better at measuring whether digital advertising reaches real people, appears in brand-safe environments, and drives measurable outcomes, but those metrics still explain only what happens after a campaign runs. Chief marketing officerss are advised to understand the financial pressures and purchasing trade-offs shaping consumer behavior before advertising begins. That distinction is particularly important because traditional measures such as consumer confidence and sentiment appear to have little correlation with actual spending. Big Chalk Analytics instead focuses on “trade-off consumers,” defined as households cutting spending in at least four of seven discretionary categories, including groceries, dining out, travel, clothing, and entertainment. Its research suggests roughly 34% of U.S. households fall into this category, including about 20% of higher-income households, while the behavior shows little variation by age, race, gender, or political affiliation.

 

Forbes

Polymarket has appointed veteran finance executive Warren Jenson as its first chief financial officer, as the prediction market seeks to expand its U.S. and global operations and regain market share from rival Kalshi. Jenson, 69, has more than three decades of experience, including CFO roles at Amazon, Electronic Arts, Delta Air Lines, and Nielsen, and will report to Polymarket chief executive Shayne Coplan with responsibility for strengthening long-term planning as the company scales. The appointment comes as Polymarket expands its senior leadership team after surpassing $1bn in annualized revenue earlier this year. Prediction market trading volumes reached $48.4bn across Polymarket and Kalshi in August, with Kalshi accounting for $40bn, nearly five times Polymarket’s volume.

 

Quartz

Reuters

CohnReznick has appointed Kate Peachway as partner and chief financial officer, joining the professional services firm’s executive team to lead its financial strategy and operations. Ms. Peachway has more than 20 years of experience across finance, strategy, investing, and business leadership, most recently serving as CFO of a global capital markets technology company. She also has experience working in a private equity-backed environment and spent 15 years investing across public and private markets. CohnReznick chief executive David Kessler said her financial, strategic, and operational expertise will support the firm’s investment in its people, expansion of its capabilities, and pursuit of sustainable growth.

 

ABF Journal

Macy’s has raised its full-year outlook for the second time this year, helped by higher selling prices, stronger demand from wealthier consumers, and continued growth across its brands. The retailer now expects net sales of $21.68bn-$21.83bn, up from its previous forecast of $21.5bn-$21.75bn, while adjusted earnings per share guidance has increased to $2.15-$2.35 from $2-$2.20. The group is increasingly targeting middle- and upper-income consumers by introducing more premium brands and higher-priced products, contributing to a 9% increase in its average selling price during the quarter. Second-quarter net sales rose 1.1% to $4.87bn, ahead of analysts’ expectations of $4.81bn, while same-store sales increased 2.7%, compared with forecasts for 1% growth. Bloomingdale’s delivered particularly strong performance, with same-store sales up 11.3% and second-quarter sales volumes reaching a record for the brand, while Macy’s core stores and Bluemercury recorded growth of 1.1% and 6.2%, respectively. Quarterly profit nearly doubled to $169m from $87m, while adjusted earnings per share of 63 cents comfortably exceeded the 37 cents expected by analysts.

 

CNBC

Reuters

Wall Street Journal

U.S. wholesale prices rose 0.4% in August, matching expectations, while annual producer price inflation reached 5.4%, according to the Bureau of Labour Statistics, slightly above forecasts and well above the Federal Reserve’s 2% inflation target. Core producer prices, excluding food and energy, increased 0.2%, slightly less than expected. Energy costs were a major driver, rising 4.2% as diesel prices surged 24.1%, while overall goods prices increased 1.1%. Services prices rose just 0.1%, although transportation and warehousing costs increased 2.3%. The data comes ahead of the Federal Reserve’s upcoming interest rate decision, with markets pricing in an increased likelihood of a quarter-percentage-point rate hike. Persistent inflation has been attributed partly to tariffs and the Middle East conflict, while upcoming consumer inflation data will provide another indication of price pressures.

 

CNN

CNBC

Los Angeles Daily News

U.S. existing-home sales fell 2% in August from the previous month to a seasonally adjusted annual rate of 3.98m, the lowest since June 2025, according to the National Association of Realtors. The decline extended a prolonged housing market slowdown as elevated mortgage rates continued to weigh on affordability. Despite weaker sales, the national median existing-home price increased 1.6% from a year earlier to $429,100. Unsold inventory also rose 3.2% from July to 1.62m units, providing buyers with slightly more choice. Mortgage rates have climbed amid inflation concerns, government deficits, and uncertainty surrounding the conflict in Iran, with the average 30-year fixed rate reaching 6.71% last week. “Mortgage rates and home sales move in opposite directions, so it’s not surprising to see a mild dip in home buying activity due to high mortgage rates,” said NAR chief economist Lawrence Yun. “Still, home prices are rising, and existing home sales are actually up 1.6% year-to-date through the first eight months of the year.”

 

New York Post

CNBC

Reuters

Wall Street Journal

Initial unemployment claims fell by 1,000 to a seasonally adjusted 206,000 in the seven days to September 5th, according to the Labor Department, slightly above economists’ forecast of 205,000. Claims have remained within a narrow range of 189,000 to 212,000 since mid-July, suggesting layoffs remain low. The four-week moving average slipped 1,500 to 206,000, while continuing unemployment claims, reported with a one-week lag, declined by 1,000 to 1.774m. The data follows stronger employment growth in August, when nonfarm payrolls increased by 162,000 jobs, up from 21,000 in July, while the unemployment rate held at 4.1%. 

 

ABC News

Reuters

President Donald Trump has proposed a $5,000 payment to U.S. adult citizens if Republicans win the midterm elections, describing it as a “Trump dividend.” The plan would cost well over $1tn and require congressional approval, making its passage uncertain, particularly after Republicans rejected an earlier proposal to distribute tariff revenue. The proposal could ultimately take the form of a tax measure rather than a direct cash payment. Sen. Ted Cruz (R-TX) suggested structuring it as a tax refund with work requirements. The precise tax treatment, eligibility requirements, and funding mechanism have not been detailed. The proposal also comes as U.S. public debt has surpassed $40tn, with analysts warning that such a large fiscal stimulus could increase pressure on government borrowing, Treasuries, and the dollar. "The bond market is already nervous about inflation and America's $40tn debt," Heather Long, chief economist at the Navy Federal Credit Union, said in an email. "This would likely cause borrowing costs to jump even further."

 

Accounting Today

CBS News

Wall Street Journal

The IRS has opened applications for its 2027 Compliance Assurance Process (CAP), which helps large corporations identify and resolve federal tax issues before filing their returns. Applications are open through October 30th 2026, with acceptance decisions expected in February 2027. Eligible companies must have at least $10m in assets and meet other requirements, including providing specified financial and regulatory reporting. Publicly traded U.S. corporations must file required SEC forms, while qualifying privately held C corporations must provide audited annual financial statements and unaudited quarterly statements. The IRS said CAP can provide greater tax certainty, improve compliance, shorten the audit process, and allow the agency to focus its resources more effectively.

 

CPA Practice Advisor

The Global Accounting Alliance (GAA) has published the first of three reports examining how sustainability disclosures can be more closely connected with financial reporting to provide a clearer picture of corporate performance, risk, and long-term value. The report argues that sustainability issues can affect cash flow, access to capital, asset valuations, and investment decisions, while reporting sustainability and financial information separately can lead to fragmented or inconsistent disclosures. Drawing on ten professional accounting bodies and more than 30 stakeholder interviews, the report identifies organizational silos, differing planning periods, skills shortages, and checklist-focused approaches as barriers to connected reporting. It highlights effective governance, common frameworks, and greater cooperation between functions as potential solutions, and aligns its findings with developments including IFRS Sustainability Disclosure Standards and European Sustainability Reporting Standards. The GAA plans to publish the remaining two reports by the end of 2026.

 

The Accountant Online

The PCAOB has finalized amendments to its QC 1000 quality control standard, aiming to reduce compliance costs, provide greater flexibility for audit firms, and better align requirements with other quality management standards. Subject to SEC approval, the changes will take effect December 15. Key amendments include eliminating the external quality control function and “design-only” requirements, allowing certain quality control roles to be shared or assigned to non-firm personnel, and simplifying requirements around external metrics and engagement deficiencies. Firms will also have greater flexibility in choosing when to conduct annual quality control evaluations, while documentation retention requirements will be reduced from seven years to five. The PCAOB said the revised standard could also provide a foundation for shifting its future audit firm inspections toward a greater focus on quality control systems.

 

Accounting Today

Journal of Accountancy

Activist investor Barington Capital has taken a stake of more than 1m shares in Bath & Body Works and is urging the retailer to explore a sale, arguing that it is undervalued and has been held back by management instability. Barington chief executive James Mitarotonda believes the company could attract significant interest, including from private equity, and is considering seeking board representation. Barington has also called for Bath & Body Works to use its cash to accelerate share buybacks as part of efforts to improve its stock price. The retailer’s shares have fallen around 78% since L Brands spun off Victoria’s Secret in 2021, while net income has declined by around 50%. Bath & Body Works has been pursuing a turnaround under CEO Daniel Heaf, including expanding digital distribution and targeting younger consumers, and recently reported its first direct net sales growth since 2021.

 

Bloomberg

Reuters

Abu Dhabi sovereign wealth fund Mubadala Investment Company is set to make a significant minority investment in Chinese coffee chain Luckin Coffee alongside controlling shareholder Centurium Capital, in a deal worth about $1bn. The size of Mubadala’s investment and stake have not been disclosed, but the deal will deepen its exposure to China’s growing consumer sector. Luckin, which operates more than 36,000 stores globally and has almost 500m cumulative transacting customers, has been expanding internationally, including in Singapore, Malaysia, and the US.

 

Bloomberg

Financial Times

The National