Good morning. The Commodity Futures Trading Commission has named its first chief artificial intelligence officer, responding to the Biden administration’s push to govern the use of AI across the federal government.

• The background: President Biden late last year issued a new executive order aiming to assert more oversight over powerful new AI systems. In response, the White House Office of Management and Budget in late March issued its first governmentwide guidance to federal agencies on their adoption of AI systems, imposing safeguards such as mandatory actions to assess and test AI systems and their biases.
   
• The appointee: The derivatives markets regulator has named Ted Kaouk, who currently serves as its chief data officer and director of its data division, to the role. Kaouk will help develop the agency’s strategy to oversee and enforce the financial markets. 
   
• Biden's AI push: The White House said in March that it has regularly convened these officials in a new Chief AI Officer Council to coordinate their efforts across agencies and to prepare for the implementation of the new guidance. 

Most companies lack tech needed to meet sustainability reporting requirements.

Less than a quarter of companies say they have the technology necessary to meet future sustainability reporting requirements, according to research out Wednesday.

Just 24% of companies say that they are ready for future reporting needs, the survey from consulting firm Bain & Co. found.

As sustainability reporting approaches “financial accounting-level rigor,” companies will need to adopt more sophisticated data-gathering and analysis techniques, according to the report. That means moving away from calculations based on assumptions and industry averages, and toward models informed by actual measurements, it said.

Wanted: Megabank chief willing to work for half pay.

Help wanted: Someone to oversee $3 trillion in assets and 221,000 workers. Must be worldly, willing to travel constantly, knowledgeable about Chinese politics and able to deal with a demanding boss.

Salary: Half of what you would make in the U.S.

HSBC, one of the world’s largest banks, is looking for a new chief executive. Its current CEO, Noel Quinn, surprised markets Tuesday when he said he would retire soon, once a successor is named.

• Exxon Mobil is set to close its $60 billion megadeal for Pioneer Natural Resources following an agreement with antitrust enforcers not to add Pioneer CEO Scott Sheffield to its board of directors, according to people familiar with the matter.
   
• Johnson & Johnson said it would put a nearly $6.5 billion settlement offer for tens of thousands of talc-related lawsuits to a vote, a step toward a possible third attempt by the company to resolve those personal-injury claims in bankruptcy.
   
• Dropbox said Wednesday that certain user data had been accessed in a cyber breach in its Dropbox Sign product.

Blinken pushes for Gaza cease-fire deal in visit to Israel. 

Secretary of State Antony Blinken traveled to Israel to press for a temporary cease-fire deal in the Gaza Strip that the Biden administration hopes could develop into a more-durable peace, and stressed its concerns about a possible Israeli offensive in the town of Rafah.

Blinken said after a meeting with Israeli Prime Minister Benjamin Netanyahu that he told Israeli officials a temporary truce would “give us something to build on.” And he put the focus on Hamas, saying that the group should take the deal. “Hamas has to decide,” Blinken said.

• Israel Said Their Sons Were Murdered by Hamas. These Mothers Weren’t Convinced.

• The Federal Reserve acknowledged a recent setback in its inflation fight but said it was more likely to keep interest rates at their current level for longer than to raise them again.
   
• Proposals for a restrictive new political-funding law have set off a storm in Georgia, triggering days of street protests from government opponents who say it represents Russia’s latest attempt to export its legal standards to countries that made up the old Soviet Union, and are instead urging a decisive break with Moscow.
   
• Stock photographers who survived the disruptive advent of digital cameras and online sales are bracing themselves for the next great tech shock: generative AI. Some are predicting the worst.

• University leaders are navigating the most tumultuous wave of student demonstrations since the Vietnam War with varied strategies—and varied results. They are having to weigh input from a host of constituencies, including politicians, donors and parents, all while operating in the shadows of their specific schools’ protest history. Student safety and free speech standards are at stake. So are the wobbling brands of centuries-old institutions.
   
• This weekend, thousands of investing aficionados will descend on Omaha to hear Warren Buffett hold forth on business and life. If they are lucky, they might catch a passionate shareholder proposal.
   
• With Boeing in the throes of its latest crisis, one of its smaller rivals, Embraer, is exploring options for a new model to challenge the duopoly for large jets that has dominated the industry for almost three decades.

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