Good morning. The honor of throwing out the first pitch at a New York Yankees game is often reserved for celebrities or former players like Andy Pettitte or tennis star Novak Djokovic. Two weeks ago, it was President Trump’s top telecom regulator, Brendan Carr, wearing dress shoes on the pitcher’s mound.

• A favor: The Federal Communications Commission chairman did the New York Yankees a favor earlier this year: When the YES Network, which airs Yankees games, was on the verge of being dropped from Comcast service, Carr urged the network to resolve the disagreement with the hint of a threat. “The FCC does have authority to step in and address claims of discriminatory conduct,” he said on social media.
   
• Denial: Days later, Comcast reached back to an old baseball maxim of “wait until next year,” and kept the network on the basic service tier for the season. Carr declined to say how he was asked to throw out the Yankees first pitch. Yankees President Randy Levine said the invitation to Carr had nothing to do with his weighing in favorably on the fight with Comcast, noting that the three Democratic governors in the tri-state area also supported the YES Network in the dispute.
   
• Showman instincts: In running the traditionally staid agency, Carr has channeled Trump’s showman instincts to push major broadcasters for concessions, reshape the news landscape and dramatically shift the mandate for an agency set up in the 1930s to regulate the media’s airwaves independent from the White House. Under Carr, the FCC has pursued Trump’s media antagonists with gusto and weighed in on news judgments in a way few past FCC officials have.

More compliance professionals are using AI at work, survey finds.

Artificial intelligence use in corporate risk and compliance departments has increased in the past two years, a new survey from Moody’s found.

Some 53% of those polled said they are actively using or testing artificial intelligence in their jobs, up from 30% in 2023, Moody’s said in a report published Tuesday. 

The survey found that companies use AI both for automating routine and repetitive processes and for augmenting human decision-making. Companies surveyed most commonly used AI for technology implementation, risk analysis, data governance and customer due diligence.

FinCEN sets threshold for reporting cash transactions along border at $1,000.

The U.S. Treasury Department has set the minimum dollar amount that money transmitters along the southwest border must report to the government at $1,000 and expanded the areas where compliance with the rule is required, reports Risk Journal's Mengqi Sun.

Treasury’s Financial Crimes Enforcement Network, in an order Monday, said money service businesses in certain areas of Arizona, Texas and California must file reports for cash transactions above $1,000, compared with the standard $10,000 threshold.

• Swedbank said the U.S. Securities and Exchange Commission has closed a probe into the Swedish bank without pursuing an enforcement action against it, Risk Journal reports.
   
• Federal prosecutors have charged Paul Regan with  securities and wire fraud following a series of Wall Street Journal articles last year on the financier and his mysterious high-yield investment offerings.
   
• Consultants have a lot to gain helping companies deploy the most transformative technology in decades. Some clients say so far they have overpromised and underdelivered.

Is the U.K. a canary in the coal mine for a heavily indebted world?

This past week, U.K. long-term borrowing costs hit their highest level in decades, causing Treasury chief Rachel Reeves to shoot down suggestions that the heavily indebted country is heading for a fiscal crisis.

Most economists agree with her—for now. But in a world where industrialized nations have taken on record amounts of debt and are paying ever more to finance the borrowing, the U.K. could become the financial markets’ equivalent of the proverbial canary in the coal mine—a leading indicator of trouble for other debtors like the U.S. and France, economists say.

• It might sound radical for a car company to declare it’s aiming for a zero-emissions world, but it is common practice across industries to talk big about climate change. However, business leaders who have been touting their green aspirations for years are now grappling with how to communicate these goals as they find themselves at odds with the Trump administration’s views on climate change.
   
• Falling lumber prices are sounding an alarm on Wall Street about potential problems on Main Street. Wood markets have been whipsawed of late by trade uncertainty and a deteriorating housing market. Futures have dropped 24% since hitting a three-year high at the beginning of August and ended Monday at $526.50 per thousand board feet.
   
• Argentina’s markets tumbled Monday after President Javier Milei’s party suffered a setback in a provincial election that raised questions about support for his pro-market overhauls.
   
• Federal prosecutors are investigating the promotion and sale of tribal tax credits, according to people familiar with the matter.
   
• The Czech Republic’s cybersecurity agency issued a high-level warning on transferring data to China or enabling remote management of technology systems from Chinese territory.
   
• Hundreds of South Korean citizens detained in an immigration raid at a Hyundai Motor plant in Georgia are expected to return home on a voluntary basis and avoid deportation, Seoul’s Foreign Ministry said Monday.

• The U.S. Supreme Court on Monday loosened restrictions on immigration raids in Los Angeles that a judge put in place after finding that federal authorities were likely using illegal racial-profiling tactics.
   
• Elon Musk’s SpaceX is writing its biggest check ever to expand its foothold in the mobile-phone business.
   
• President Emmanuel Macron has lost his second government in less than a year, a measure of how France is caught in a spiral of political dysfunction that is draining its public finances.
   
• Lawyers for Jeffrey Epstein’s estate have given Congress a copy of the birthday book put together for the financier’s 50th birthday, which includes a letter with President Trump’s signature that he has said doesn’t exist.
   
• A federal appeals court on Monday upheld an $83 million defamation award against President Trump, saying his conduct toward advice columnist E. Jean Carroll was extraordinary and unprecedented.

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