United States
Cybersecurity
The FBI said that a North Korean hacker group was responsible for the theft of $1.4bn from crypto exchange Bybit.
Meta fires around 20 employees for info leaks.
Data
According to court documents published this week Meta employees internally discussed using copyrighted works obtained through legally questionable means to train the company’s AI models.
Nvidia exceeded expectations in its earnings report, nearly doubling profits from last year. The report quells concerns of overinvestment that cropped up after the debut of Chinese AI competitor DeepSeek.
Enforcement
SEC drops Coinbase lawsuit.
ESG
Apple’s shareholders rejected an anti-DEI proposal at its investor meeting this week.
Wells Fargo joined other banks in scrapping its diversity policy (subscription) for recruitment into senior roles.
BlackRock ends its DEI program.
US house, senate members express concern over the EU’s Corporate Sustainability Due Diligence Directive (CSDDD).
Regulation
New York proposal would have companies disclose if layoffs are AI-related.
Durbin reintroduces credit card competition bill.
SEC will hold public meeting on AI company operations impact and retail investor fraud.
China
Alibaba, the Chinese e-commerce conglomerate has signaled that it will invest “at least” $52b (subscription) in its cloud computing and artificial intelligence infrastructure over the next three years.
The former chairman of Aviation Industry Corporation of China has been expelled from the communist party for alleged corruption (subscription).
EU
Santander’s new chief accounting officer, due to start his role in early 2025, is under criminal investigation in Brazil for alleged misappropriation of funds.
India
Trading in crypto-currencies is booming in India (subscription) after its regulators made it more difficult to trade equity derivatives. It is not yet clear what the consequences of a rout in the crypto markets might be.
International
The IFRS Foundation has released a “major update” to its IFRS for SMEs Accounting Standard effective for annual periods on or after 1 January 2027.
Singapore
The Monetary Authority of Singapore (MAS) has imposed civil penalties against four individuals for false trading and the related unauthorised use of trading accounts.
UK
In a major shift in strategy BP will move away from renewables and focus on increasing oil and gas production.
Microsoft criticized the provisional findings of the UK CMA’s probe into cloud offerings.
