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North American Edition
14th August 2026
 
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THE HOT STORY

EEOC drops subpoena action against Nike in DEI-related probe

The Equal Employment Opportunity Commission (EEOC) is dropping a subpoena enforcement action against Nike, saying the footwear company has complied with requests for information as part of an investigation into its diversity and inclusion policies. The agency said it was investigating whether Nike intentionally discriminated against white employees ​and job applicants, including by disproportionately targeting them for layoffs, and that it required the information to determine whether Nike violated the law. An EEOC spokesperson said the agency is “pleased the company complied without a court order after the filing of our subpoena enforcement action,” but declined to provide more details. Dropping the subpoena action does not mean the agency has concluded its investigation.
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CORPORATE

Silver Lake in talks to buy Workday, sources say

Reuters reports that private equity firm Silver ‌Lake is in ongoing talks to acquire human resources and financial management software company Workday in a deal that would be among the largest software buyouts in history. Workday shares had fallen about 15% this year, as ​investors questioned the durability of traditional software amid rapid advances in artificial intelligence.
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WORKFORCE

Jobless claims rise more than expected to 209,000

The Labor Department reported on Thursday that initial U.S. unemployment claims increased by 9,000 to 209,000 in the week ended August 8th, exceeding economists’ expectations of 202,000, but remaining near historically low levels. Continuing claims, reported with a one-week lag, fell to 1.78m, while the four-week moving average of new claims held steady at 199,000. Economists cautioned that the increase could reflect typical summer volatility and will likely require several weeks of data to determine whether it signals a broader shift in the labor market.
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TECHNOLOGY

PwC U.S. CEO embraces custom AI assistant as firm pushes technology adoption

PwC U.S. chief executive Paul Griggs has developed a custom AI assistant, dubbed “PG’s Whisperer,” which he uses throughout the day as the Big Four firm encourages greater adoption of artificial intelligence. Griggs created the assistant using two different AI models and keeps multiple chat systems open across his phone and computer, allowing him to compare information and responses. His increased use of AI comes as PwC experiences what Griggs described as its strongest pipeline of new clients.
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STRATEGY

Apple opens Houston manufacturing facility as U.S. production push expands

Apple has opened a new advanced manufacturing facility in Houston, where it has begun producing AI servers and plans to manufacture Mac Mini computers later this year, with outgoing chief executive Tim Cook saying the company has invested hundreds of millions of dollars in the site. The facility will also provide free manufacturing training, including the use of machine learning for quality control, as part of Apple’s $600bn American Manufacturing Program, while Mr Cook said the company sourced more than 20bn chips from the U.S. last year, including 100m from TSMC’s Arizona facility.

Paramount pushes back on CNN sale rumors

The Wrap reports that a Paramount source has pushed back on reports that CEO David Ellison could unload CNN in an effort to resolve California's antitrust suit challenging ​its $110bn acquisition of Warner Bros Discovery. Paramount Skydance chief legal officer Makan Delrahim had said all options, including a possible sale of CNN, were "on the table." CNN chief media analyst Brian Stelter said Delrahim's remarks were intended to convey Paramount's willingness to negotiate with California Attorney General Rob Bonta, rather than signal that Ellison is preparing to sell CNN.
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LEADERSHIP

Lululemon AI chief departs after less than a year amid leadership changes

Lululemon Athletica chief AI and technology officer Ranju Das has left after less than a year in the role, becoming the latest senior departure ahead of Heidi O’Neill taking over as chief executive on September 8th. Mr Das, the first Lululemon executive to hold the title, was responsible for developing artificial intelligence strategies to improve efficiency and shareholder value. His departure follows the recent exit of chief strategy officer Rachel Acheson as Lululemon seeks to revive sales amid increased competition and a share price decline of more than 40% this year.
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TAX

Google co-founder backs California tax measures

Google co-founder Sergey Brin has contributed $102m to Building a Better California, a political nonprofit backing two November ballot measures that could block Proposition 40, a proposed one-time 5% tax on the assets of California billionaires. Proposition 40 is expected by supporters to raise roughly $100bn, primarily for healthcare, with additional funding for education and food assistance, although the state’s Legislative Analyst’s Office estimates revenues would more likely total tens of billions of dollars. Building a Better California is supporting Propositions 41 and 42, which would impose restrictions on new state taxes and could nullify Proposition 40 if either receives more approval votes.
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INTERNATIONAL

Sweden's IF Metall ends Tesla strike

Swedish trade union IF Metall is ​calling off its three-year dispute with Tesla after the ‌carmaker bought out all the union's striking members at the company. "This means that the conflict no longer has any effect," the union said. The dispute started in October 2023 when Tesla ​mechanics went on strike as the union demanded collective ⁠agreements with the automaker, which does ​not have manufacturing facilities in Sweden, but whose electric cars are serviced by IF Metall union members. "We can conclude that Tesla is so strongly opposed ​to collective agreements that they would rather buy out employees ​who are members of the union than give them safe conditions," IF Metall ‌observed.

Amgen is expanding its footprint in India

Amgen is establishing a new R&D center in Hyderabad's Genome Valley, set to open in 2027. The facility will be an addition to Amgen's global R&D network, which includes seven laboratories worldwide. Jay Bradner, M.D., Amgen's executive vice president of R&D, said: "The new center in Genome Valley expands the way we integrate experimental science with data and technology." The investment follows significant R&D expansions in the U.S., including a $600m center in Thousand Oaks and a $125m expansion in South San Francisco.

Uber invests in LATAM motorcycle lender

Uber is to invest in Santiago-based Galgo, a lender focused on ​motorcycle purchases, as the ride-hailing firm seeks to ‌expand access to vehicles for drivers and couriers. Galgo said the plan is to offer financing products tailored to ​Uber drivers and delivery workers. In Latin America, ​motorcycles ​are widely ⁠used for low-cost transport and delivery work.

Russian economy to resume growth

Russia's economy likely grew in the second quarter after its first contraction in three years. Gross domestic product expanded by 0.9% in April-June from a year earlier, according to the median estimate of economists polled by Bloomberg, after declining in the first three months of the year. The country's wartime economy has been driven by increased government spending and double-digit wage growth. Growth has also been lifted by a favorable calendar with more working days. Bloomberg says the rebound may be short-lived as Ukraine steps up the intensity and reach of attacks on critical sites.
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OTHER

Key U.S. munitions are ‘dangerously low’

A Bloomberg Economics report suggests the U.S. is running “dangerously low” on key munitions used during the war against Iran. Stocks of hard-to-replace air defense interceptors are “critically low” and long-range missile supplies are “under pressure,” according to the analysis. “The war has consumed important weapons faster than they can be bought and built. That is creating a generational gap in U.S. stockpiles of air defense interceptors and exquisite long-range munitions that cannot be quickly overcome,” Bloomberg Economics defense lead Becca Wasser and Courtney McBride wrote.
 
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