The 2020s have been a relentless rollercoaster for businesses. From the pandemic to supply chain breakdowns, inflationary spirals, geopolitical tensions, and the meteoric rise of new technologies, disruption has rewritten the rules of survival. Yet, for some organizations, these upheavals are more than just hurdles—they are catalysts for transformation and growth.
In a damning chapter in the annals of corporate malfeasance to date, McKinsey & Company—the vaunted consulting powerhouse—has agreed to pay $650 million to resolve U.S. Department of Justice (DOJ) investigations into its role in fueling the opioid epidemic. With this settlement, McKinsey becomes the first consulting firm to face criminal charges for advising a client, Purdue Pharma L.P., on activities that significantly contributed to a public health catastrophe of staggering proportions.
In an era where personal information flows through countless digital channels, the Consumer Financial Protection Bureau (CFPB) has proposed a sweeping rule to rein in the burgeoning data broker industry. This initiative seeks to impose stricter accountability under the Fair Credit Reporting Act (FCRA), ensuring that consumer data is shared only for legitimate purposes and safeguarding sensitive information like Social Security numbers and income data from misuse.
At the 27th Annual Symposium on Building the Financial System of the 21st Century, Federal Reserve Governor Michelle W. Bowman addressed the growing role of artificial intelligence (AI) in the financial sector. Speaking to an audience of industry professionals and regulators, Bowman emphasized the importance of striking a delicate balance between fostering innovation and ensuring the stability of the financial system.
In the high-stakes world of energy, a cyberattack isn’t just a technical failure—it’s a business disruption. And for Halliburton, one of the largest oilfield services companies globally, that disruption came at a hefty price. In August 2024, the company was hit by a ransomware attack linked to the notorious RansomHub group, leading to a significant financial loss that’s being felt in both immediate and long-term ways.
Southeast Asia is rapidly emerging as a digital powerhouse, with its booming markets and growing data center infrastructure attracting the attention of global tech giants. But as this region strengthens its digital economy, it’s also tightening its grip on data protection. Countries like Vietnam, Malaysia, and Indonesia are overhauling their data protection laws, which could bring both opportunities and challenges for businesses—especially those looking to expand in these fast-growing markets.
The Justice Department’s $3 billion settlement with TD Bank may have closed one chapter in a decade-long money-laundering saga, but Sen. Elizabeth Warren is far from satisfied with how the story ends. In a fiery letter to Attorney General Merrick Garland, Warren pulled no punches, calling the DOJ’s handling of the case a form of “absurd legal gymnastics” that shields TD’s top executives from facing the music. Her frustration underscores a growing concern in Washington: are these settlements really justice, or just another line item in the cost of doing business?