KPMG

Following an audit by KPMG confirming that its reserves exceed liabilities by $6.8 billion and detailing over 150 tons of gold bullion, Tether is shifting its identity away from 'crypto.' CEO Paolo Ardoino detailed plans for the company to expand into technology infrastructure, notably providing basic AI services across various verticals like health and finance in the developing world.

A highly anticipated inflation report is expected, potentially showing consumer prices rose 3.4% in July and core inflation cooling to 2.5%. While falling gas costs have reduced recent readings, sustained price increases in services like healthcare and car maintenance suggest underlying inflationary pressures. These conflicting trends create uncertainty regarding whether prices will drop back to the Federal Reserve's 2% target.

Gen Z prioritizes career growth over work-life balance, with 93% aspiring to reach the C-suite. A KPMG survey of 900 interns highlights the need for human skills and AI literacy to advance, as Gen Z balances leveraging technology with avoiding overreliance on it.

The Pakistani government plans to split Sui Northern Gas Pipelines Ltd (SNGPL) and Sui Southern Gas Company Ltd (SSGCL) into five companies: one transmission and four provincial distribution firms. The reform, discussed with the World Bank and opposition from entities like KPMG and Ogra, aims to create a competitive gas sector but faces challenges such as transfer pricing and cross-subsidies.

Angie Myers has been appointed as the new CEO of Charlotte Mecklenburg Library following a nationwide search. She previously served as interim CEO since May 2025 and held the role of chief finance and administration officer. Myers has a background in corporate finance and will oversee 21 library locations, nearly 500 employees, and a collection of over 800,000 items.

Introverts are adapting to return-to-office (RTO) mandates by using strategies like seeking quiet spaces and scheduling meetings to conserve energy. Companies like Cisco and KPMG are redesigning office spaces to accommodate diverse work styles, while employees report challenges with increased social stimulation. Introverts, estimated to make up 40-50% of the workforce, are relearning workplace navigation after pandemic-era remote work.

KPMG and OpenAI have formed a partnership to develop and market an AI-native Supply Chain & Fulfillment Orchestration platform, with KPMG named an OpenAI Elite Partner. The collaboration focuses on 'headless' systems where employees interact with software through voice and intent-based AI agents rather than traditional UIs.

Asian tech founders are relocating to the U.S. due to a venture funding slump in Asia and the U.S.'s stronger access to customers, talent, and capital. Venture funding in Southeast Asia fell by 80% between 2022 and 2024, while the U.S. secured 80% of global startup funding in Q1 2026. Founders cite Asia's fragmented markets, regulatory scrutiny, and limited exit opportunities as key challenges.

AI is reshaping software engineering job requirements, with companies now prioritizing judgment and AI literacy over traditional coding skills. Employers use platforms like GitHub and X to evaluate candidates and increasingly allow AI tools during interviews. A 2025 report notes 74% of developers struggle to find jobs despite rising hiring rates.

Australian operations have become a recurring source of scandal and embarrassment for the Big Four accounting firms: KPMG, PwC, EY, and Deloitte.

Richard Comerford was appointed as secretary of the Florida Department of Corrections by Gov. Ron DeSantis, succeeding Ricky Dixon. Comerford has over 40 years of experience with the department, including roles as a correctional officer and deputy secretary. The department faces budget challenges after DeSantis vetoed legislation funding capital projects and a new corrections hospital.

KPMG has appointed Michael Ebeid as its new chair following the resignation of Martin Sheppard amid a parliamentary inquiry into the firm’s ethical failings. Ebeid previously dismissed leak allegations as 'completely false' and criticized a senator’s role in exposing the scandal as 'inappropriate', prompting a Greens senator to argue the appointment risks entrenching problematic leadership.

The US accounted for about a third of the 2025 global CO₂ emissions increase, driven by a 10% rise in coal consumption as higher gas prices pushed power producers back to coal. Global energy sector emissions rose 1.1% to 35,806 million metric tons, with renewable energy growth led by a 30% surge in solar power.

Clients are urging consulting firms to adopt outcome-based pricing for AI projects, sharing risk instead of fixed fees. Major firms like BCG, Accenture, and McKinsey are shifting to variable-fee arrangements as AI adoption's uncertain ROI drives demand for risk-sharing models. Consulting firms are also deploying internal AI tools to streamline work and support client AI transformations.

President Sheinbaum renewed a work-from-home mandate for Mexico City public sector employees on June 30 to reduce traffic before a World Cup match. The decree exempts essential services like health, security, and transportation, and schools at all levels are suspended. Similar measures were implemented ahead of previous World Cup matches in Mexico City.

Investors are pausing on the AI-driven stock surge as chip stocks decline, with companies realizing the high costs of AI development and scaling. The Nasdaq 100 fell 3.3% amid investor concerns, and companies like Uber are adjusting budgets due to unexpected AI expenses.

Consulting firms and their clients are reevaluating AI spending as costs rise, with companies like Amazon, Walmart, Uber, and Cisco expressing concerns over excessive expenses. Firms like KPMG and McKinsey are adopting AI tools but shifting toward strategic use, while Boston Consulting Group projects a significant increase in AI investment by 2026.

KPMG admitted to leaking Optus' confidential information during a bid for a Telstra audit contract. The firm also surveilled a whistleblower's laptop and dismissed the individual as having 'workplace grievances', according to a parliamentary inquiry.

KPMG withdrew a report on AI usage due to apparent hallucinations. The article highlights AI's unreliability as a source of information about itself.

KPMG published a paper about the benefits of AI last year. An investigation found that it was full of AI hallucinations.

UK companies are increasingly hiring temporary workers instead of permanent staff due to low economic confidence and rising business costs, according to a report by KPMG and the Recruitment and Employment Confederation (REC). The report attributes this trend to the Middle East conflict and financial pressures, noting a strong increase in temporary roles in May.

The U.S. jobs report showed 172,000 jobs added in May, marking the third consecutive month of job gains. The labor market remains strong despite concerns over the Iran war, rising prices, and artificial intelligence. Diane Swonk, chief economist at KPMG, provided analysis on the report.

The U.S. job market added 172,000 jobs in May, with an unemployment rate of 4.3%, showing resilience despite the Iran war and high energy prices. Job growth was broad-based, including gains in local governments, restaurants, and healthcare, though wage increases remained modest and inflation concerns persist.

US employers added 172,000 jobs in May, with the unemployment rate remaining at 4.3%. Job growth was broad-based across sectors like local governments, restaurants, and healthcare, despite high energy prices from the Iran war. Wage gains were modest, aligning with the Fed's inflation targets, though challenges like long-term unemployment and a stagnant job market persist.

US employers are expected to add 105,000 jobs in May 2026, showing a tepid recovery in the labor market amid high energy prices from the Iran war. Healthcare is a key sector driving job growth, while overall hiring remains below pre-pandemic levels, leading to a stagnant 'no-hire, no-fire' labor environment.

The global healthcare sector faces severe strain due to underinvestment and aging populations, with a projected 11 million worker shortfall by 2030. Over two-thirds of providers are adopting agentic AI to automate processes, reduce clinician workload, and improve care quality, as demonstrated by Hospital for Special Surgery’s success in streamlining insurance claims and patient triage.

KPMG is seeking to partner with or invest in Silicon Valley AI start-ups to mitigate potential threats to its traditional Big Four business model. The firm aims to proactively address disruptions caused by emerging technologies and innovative startups in the AI sector.

UK business leaders plan to maintain AI spending despite lack of measurable returns, citing strategic value for enterprise transformation. KPMG emphasizes AI as a 'strategic enabler' for organizational change, with 65% of leaders prioritizing continued investment.