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The latest report from Duane Morris LLP shows that US class action settlement amounts reached a historic peak in 2025, with the top 10 cases totaling $79 billion. Federal courts received over 13,000 new cases throughout the year, averaging more than 36 per day. Data privacy lawsuits exceeded 1,800, up over 25% year-over-year. The $38 billion settlement between Visa and Mastercard and the $2.8 billion payout by Blue Cross Blue Shield became landmark cases of the year.
A quarterly survey released by The Conference Board on Thursday shows that for the first time, CEOs view artificial intelligence as the biggest risk, with its threat level exceeding geopolitical turmoil, cyber intrusions, and financial and economic instability. At the same time, the proportion of CEOs planning to increase capital expenditure jumped from 22% in the previous quarter to 35%, and the CEO confidence index also rose to its highest level since the first quarter of 2025.
Orbia announced on Wednesday that current CFO Jim Kelly will retire on March 15, with his successor being Cristian 'Cape' Capellino, the company's Vice President of Financial Transformation. Kelly will remain until mid-year to ensure a smooth transition. The company released its Q4 and full-year 2025 results the previous day, also mentioning progress on its cost-saving program.
MindBridge CFO Matthias Steinberg says financial leaders are under pressure from the capability gap between generative AI and machine learning. He believes that LLM-based generative AI is not 'out-of-the-box' for numerical processing and needs to be combined with technologies like machine learning. He advises CFOs to start with small projects and gradually advance AI adoption.
A recent U.S. Government Accountability Office (GAO) report indicates that most paid tax preparation service personnel are not subject to uniform education or professional testing standards, and their error rates are significantly higher than those of self-filers or certified professionals, leading to billions of dollars in improper tax credits annually and exposing taxpayers to audit and penalty risks. The report recommends that Congress authorize the IRS to establish uniform professional standards.
Lucid Motors announced on Tuesday that it will cut about 12% of non-hourly positions in the United States, expecting to incur costs of $40 million to $42 million and achieve cost savings of about $500 million over three years. This move aims to optimize operations, advance the development of mid-size platforms, robotaxis, and ADAS technologies, while addressing industry regulatory and tariff uncertainties.
Tax professionals note that U.S. businesses should closely monitor subsequent tax guidance from federal agencies related to the 'One Big Beautiful Bill Act.' The act retains the 21% corporate income tax rate originally set to expire in 2026 and significantly adjusts cost recovery rules. However, the Treasury Department and the IRS still need to provide further explanations on definitions of key terms, with related details expected to be issued in the coming months.
Against the backdrop of a persistent shortage of qualified accountants, with seasoned professionals retiring and insufficient new graduates to replenish the pipeline, CFOs face a dilemma: they must streamline teams to boost efficiency, cut costs, and support growth, while also avoiding talent burnout caused by unrealistic expectations. Mahati Mukkamala, Senior Vice President of Finance and Operations at HubSync, points out that CFOs need to rethink how they measure ROI on support for accounting and finance teams by focusing on technology integration, upskilling, and mentorship mechanisms—looking beyond just the hard cost returns of software investments to whether employees are made more efficient and more analytically capable.
A survey released by The Conference Board on Tuesday showed that the consumer confidence index rose 2.2 points to 91.2 this month, as the proportion of consumers who believe jobs are plentiful climbed to a three-month high of 28%. However, factors such as inflation remaining above the Federal Reserve's target and slowing economic growth in the fourth quarter continue to keep consumers cautious.
Westlake Corporation's securities filing on Monday showed that Chief Financial Officer M. Steven Bender announced he would retire after a successor is appointed, ending a tenure of nearly two decades. The company also expanded its board to 14 members and appointed President and CEO Jean-Marc Gilson and former Chevron executive Bhavesh Patel as new directors. Fourth-quarter and full-year 2025 results released on Tuesday showed revenue missed expectations, with continued declines in performance and materials segment sales, and a full-year net loss of $1.5 billion.