Latest news
The WTW survey preview shows that employers may control the 2026 plan cost increase to 9.7% by reducing medical benefits, lower than the expected 11.1%. The survey found that nearly half of employers expect significant changes to medical programs in the next three years, but most are unwilling to take disruptive actions. Meanwhile, an Aon report shows that employee medical costs have doubled since 2022, with the average plan cost reaching $14,432 in 2026.
S&P Global's August composite PMI rose to 56, a 52-month high, as a strong services rebound offset manufacturing slowdowns caused by supply delays and inventory cuts. However, while the Conference Board's leading indicators edged up, consumer expectations continued to deteriorate, with the University of Michigan consumer sentiment index falling 8% this month and July retail sales down 0.6% month-over-month. Goldman Sachs expects real consumption growth to slow in the second half, but full-year GDP growth can still hold at 2.1%.
PEX CFO Luke Pritchett is using AI to build a "shadow ledger," aiming to run a parallel ledger automatically through AI agents to assist financial review without replacing existing processes. He expects the shadow ledger to be 80% to 90% complete by the end of the year. Additionally, the company has launched an AI agent for expense policies and plans to allocate part of the $160 million raised in July to AI investments.
In the week ending August 21, several companies announced chief financial officer personnel changes. Aon's former CFO Edmund Reese departed, with Nadin Virani succeeding as interim CFO; Baxter appointed John Rogers as the new CFO, effective October 1; Boston Beer's Diego Reynoso will move to Ingredion; Klarna's Niclas Neglén plans to step down in early 2027; GE HealthCare and Xylem confirmed the CFO appointments of William Grogan and Andrea van der Berg, respectively; Coty, Edible Garden, and 84 Lumber also announced new finance leaders.
On August 13, Enovix announced that CFO Ryan Benton would also serve as interim CEO, succeeding Raj Talluri, who resigned for personal opportunities. Chairman T.J. Rodgers took on the role of Executive Chairman, emphasizing that the company's strategy and product roadmap remain unchanged. In an investor call, Benton stated that he would draw on his transition experience at Exar to drive growth in three major markets with a 'financially prudent' approach. The company reaffirmed its Q3 revenue guidance of $9 million to $10 million, with net loss narrowing to $29 million to $32 million. Despite Q2 revenue growing 21%, the net loss was $43 million, and shares fell 13% on Tuesday to $12.52.
A report released Monday by HFS Research and TCS shows that among more than 100 C-suite and technology executives surveyed in the United States and Canada, only one-third believe AI can consistently deliver expected results and gain trust from all parties, one-quarter have the governance and control needed for expansion, and one-sixth trust autonomous AI to handle critical work. The report emphasizes that human intervention strategies and business-outcome-based evaluations are key to building reliable AI.
EY's deficiency rate in the 2025 PCAOB inspections fell sharply to 5%, tying with Deloitte for the lowest among the Big Four. The firm credits this to $1 billion in technology and talent investments, including AI applications and process simplification.
Carnegie Mellon University and technology company Larridin released a report on August 12, finding for the first time a significant correlation between AI adoption and revenue growth. An analysis of 10-K filings from approximately 500 publicly listed companies shows that firms with the most specific AI disclosures have an average annual revenue growth rate 8 percentage points higher than those with the least specific disclosures. The findings hold even after controlling for industry, size, and prior growth, and after excluding AI chip companies such as Nvidia. The report also notes that AI adoption has no necessary link to operating profit margins or future stock price performance.
Gallup analyst Jim Hart says managers are the best 'lever' for AI application in the workplace, but expanded spans of control and insufficient training may pose challenges. The latest survey shows that half of CHROs lack confidence in managers' ability to guide AI use.
An EY-Parthenon survey found that 54% of US households saved no money last month, with one in five households spending more than their income and dipping into savings or borrowing. Inflation remains persistently high, gasoline prices have rebounded to $4.06 per gallon, and consumer confidence fell 8% this month.