The modern artificial intelligence boom has created a boom in financial engineering. A lot of people who run big tech companies and AI labs think that they will collectively need to spend trillions of dollars over the next few years building data centers to train and run AI models, buying chips to put in those data centers, buying electricity to run those data centers, and building power plants to provide that electricity.

Wall Street looked past concerns about elevated valuations, with stocks holding at a record as another Federal Reserve rate cut bolstered the outlook for corporate earnings and technology shares rallied. Bonds fell.

Global accounting standard-setters voted Wednesday to make companies report more on non-cash transactions such as leases, responding to investors’ complaints that it can be hard to reconcile financial accounts with cash-flow statements.

Fiserv Inc. stock suffered a record plunge after the fintech slashed its outlook for full-year earnings and unveiled third-quarter results that confounded Wall Street analysts.

Bank of New York Mellon Corp.and Securitize Inc. have partnered to bring collateralized loan obligations onto the blockchain, the latest example of traditional Wall Street businesses moving onto a system built for cryptocurrency.

Companies are set to gain more insight from the US accounting standard-setter on whether buzzy digital coins can be treated similarly to cash in financial reports.

Gold held its gains as the US Federal Reserve delivered an expected interest-rate cut, bolstering the case for the metal as a store of value.

Boston city councilors are proposing an ordinance that would require Alphabet Inc.’s Waymo and other autonomous ride-share services to have a human operator present in the vehicle.

The Australian Taxation Office issued updated instructions for its staff working on advance pricing agreements with companies hoping to get certainty for their tax positions.

Rachel Reeves faces a set of difficult — and potentially election promise-breaking decisions — as she seeks to close a yawning gap in the public finances when she draws up the UK’s annual budget next month.

The federal government shutdown has already cost the US economy at least $18 billion this year, a figure that “will intensify” in the weeks to come, according to the Congressional Budget Office.

Donald Trump and Xi Jinping are set to finalize a détente as they meet Thursday in South Korea, putting the world’s biggest trade fight on hold — at least for now.

The ordinance finalizing increases to Germany’s standard minimum wage effective on Jan. 1 in 2026 and 2027 was approved by its government, the Federal Ministry of Labour and Social Affairs said Oct. 29.

The transmittal form for filing 2026 Forms W-2 on paper with the Social Security Administration, as well as its counterpart for territorial versions of Forms W-2, were released Oct. 28 by the Internal Revenue Service.

California is expanding family-leave benefits to individuals caring for a designated person, under provisions that will become effective July 1, 2028.

Prime Minister Keir Starmer refused to rule out raising income tax, national insurance or value added tax at the upcoming budget, suggesting the government may break its pre-election promises in order to fill a growing hole in the public finances.

Missouri released an updated minimum wage poster for 2026 on the Department of Labor and Industrial Relations website.

The hourly minimum wage in South San Francisco, California, will rise to $18.15 from $17.70 for calendar year 2026, according to an update on the city’s website.

Angela Wood, Brendon Lamers, and Andy Bubb joined DLA Piper as tax partners in Australia, the firm announced Tuesday.

Giving fossil-fuel companies billions of dollars in tax breaks to pump the oil and gas heating up the planet is a terrible idea, but I guess you could argue it might at least create US jobs — unless you’re talking about the billions we give those companies to pump oil and gas overseas. That is truly self-destructive, offering none of the nationalist upside but all of the global downside.

Mergers and acquisitions have become a popular path for growth-minded accounting firms due to a need for cutting-edge technology, centralized business operations, and enough employees to offer a variety of services.

Victoria Lanyon has joined Baker McKenzie as a partner in the tax practice in Sydney. the firm announced Tuesday.

Proposition 6 would amend the Texas Constitution to permanently ban taxes on securities transactions and occupation taxes on registered market operators. This would make Texas the only state in the US with a constitutional ban on securities-transfer taxes.

Mexico’s Supreme Court has provided guidance on requesting a tax refund.