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North American Edition
12th August 2026
 
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THE HOT STORY

U.S. corporate giants retreat from board diversity requirements

Major U.S. companies have increasingly removed explicit diversity criteria from board appointments, with 61 S&P 100 companies dropping such provisions since 2023, including Apple, Alphabet, Amazon, Starbucks, and Wells Fargo. The retreat has accelerated over the past year amid the Trump administration’s efforts to dismantle DEI programs, with several companies also removing diversity requirements from chief executive succession policies. The proportion of companies using Rooney Rule-style provisions has fallen to 12% from 58% over the past year, according to executive recruiter Spencer Stuart, while women accounted for 29% of new S&P 500 directors this year, down from 46% in 2023. Companies are also increasingly turning to former CEOs for board seats, with this group accounting for 37% of new directors. More than 30 major companies continue to maintain explicit diversity criteria.
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LEGAL

NYC Mayor Mamdani backs bill targeting delivery subcontracting

New York Mayor Zohran Mamdani is backing a bill that would require major delivery and warehouse operators, including Amazon and FedEx, to directly employ thousands of couriers rather than rely on subcontractors. Supporters say the measure would improve worker protections, safety, and accountability. Amazon has warned it could relocate warehouses outside New York City and put more than 5,000 subcontracted delivery jobs at risk. If passed, New York could become the first U.S. city to impose such a requirement on last-mile delivery operators.
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ECONOMY

U.S. small business confidence hits highest level in nearly a year

U.S. small business confidence strengthened in July, with the National Federation of Independent Business’ optimism index rising to 99.8, its highest level since August 2025 and above economists’ expectations of 97. Hiring intentions improved sharply, with a seasonally adjusted net 20% of business owners planning to create jobs over the next three months, up 9 percentage points from June and the highest level since October 2022. Inflation pressures also eased, as actual and planned price increases declined, while fewer businesses cited inflation as their most important problem. Labor quality and availability replaced inflation as the top concern, even as uncertainty remained elevated and businesses anticipated improving conditions.
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TECHNOLOGY

Spotify to begin identifying artist profiles created by AI

Music streaming platform Spotify is to label AI artists and exclude them from algorithm recommendations as part of a crackdown on fake performers. The company is creating a label for AI-generated artist identities called “AI personas” that will appear on the artist profile and on track listings on playlists. Spotify said it will use human review and AI tools to determine whether someone’s profile, including their name and image, “appears to represent photorealistic AI-generated identities.” The company said in announcing the initiative: “Listeners have been clear in telling us that they don’t like seeing an artist profile that seems human, only to find out that the persona is AI-generated . . . Listeners need to be able to trust that the artist behind the music is who they say they are. That’s more essential than ever in the age of generative AI.”

EY launches new unit to control AI costs and measure returns

EY is creating an AI value realization office and hiring a head of “agent economics” to oversee its growing AI-powered workforce, control technology costs, and assess whether its investments are generating tangible business benefits. The move comes as companies face increasing pressure to demonstrate returns from AI spending, particularly as technology providers shift toward usage-based pricing models that can result in rapidly escalating costs. EY has already introduced AI token budgets for employees in areas with heavy AI usage, such as software development, requiring additional approval when allocated limits are exceeded. It has also developed AI routers that direct employees to the most appropriate model for each task, helping avoid unnecessary use of more expensive, advanced models. The new unit will provide EY’s leadership with greater visibility into AI spending and performance across different business functions, rather than leaving oversight to individual technology, finance, or human resources teams.

AI tools are making people's workloads even more burdensome

While AI companies have long promised that automation will shorten working hours, BBC News says workers at the firms developing the technology are often working longer than ever. At OpenAI and Anthropic, for instance, "sprints" - the term for a period at technology companies in which people work long hours in the weeks leading up to a release of a new feature or product - can stretch on for many weeks and top 90 hours of work in a seven-day period. At Meta, some employees have been moved onto urgent AI projects with long nights and weekend work. A study by UC Berkeley which followed hundreds of workers at a U.S. tech company for eight months as they used AI found the employees "worked at a faster pace, took on a broader scope of tasks, and extended work into more hours of the day."
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INTERNATIONAL

Australian delivery drivers win 'world-leading' pay rise

Australia's Fair Work Commission (FWC) has approved new rules guaranteeing delivery drivers minimum pay of A$31.30 ($22.10) per hour and accident insurance. Australia's minimum wage is currently A$26.44 an hour. The Transport Workers Union (TWU), which represents gig workers, hailed the new minimum standards. "Gig workers in Australia were left outside of our workplace systems for far too long", union National Secretary Michael Kaine said. "[Now] they will be entitled to an absolute world-leading set of standards that we will build on over time", he added. The rules apply to "engaged" time and require companies to provide a minimum level of personal accident insurance. Approximately 250,000 workers are expected to benefit from the changes.

Global youth unemployment increased in 2025

Global youth unemployment increased to 12.4% in 2025, up from 12.3% in 2023, according to the International Labour Organization (ILO). The ILO's report notes that youth unemployment worsened in eight of the world's 11 subregions, with the highest rate of youth joblessness being in the Arab States, at 26.2%. The ILO warned that AI could exacerbate job losses, particularly in middle-skilled occupations, potentially impacting 5.6 million young workers. "The picture is worsening almost universally," the report said.

Pilots' union agree process to resolve labor disputes

Lufthansa and its pilots' union Vereinigung Cockpit (VC) have agreed a ​framework which seeks to resolve protracted labor ‌disputes through arbitration and mediation, reducing the risk of further pilot strikes. The agreement includes ​arbitration procedures covering Lufthansa's core ​airline, Lufthansa Cargo, CityLine and Eurowings, VC ⁠said. The German carrier said that industrial action cost the group nearly €200m ($230.74m) in the first ​half ⁠of 2026.

Syria reinstates dismissed civil servants

Syria's transitional government has reinstated all civil servants dismissed for participating in the 2011 uprising against the Assad regime. Minister of Local Administration and Environment Mohammad Anjarani described the move as an “ethical and national responsibility.” The ministry said it aims to review the qualifications of returning employees to effectively rebuild state institutions. The decision is part of a broader effort to reverse politically motivated dismissals, with nearly 50,000 civil servants reinstated since the regime's collapse in December 2024. Anjarani observed that these returning employees possess valuable experience for the country's rebuilding process.
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OTHER

Japanese firm's 'human refrigerator' offers relief from extreme summer heat

Japanese industrial equipment maker Trusco Nakayama has developed a "human refrigerator" designed to help prevent heatstroke as the country experiences increasingly severe summer temperatures. The ¥1.5m ($9,500) Do Hiemon Box, which cools users with 5°C air inside a 15°C booth, has already sold around 200 units to customers including construction sites, steel mills and universities. The company has also deployed the units to evacuation shelters following the recent earthquake in Kumamoto. Trusco said demand for workplace cooling products has roughly doubled in recent years as rising temperatures and tighter heat safety regulations drive interest in cooling solutions. 
 
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