The race to build the infrastructure required for artificial intelligence is accelerating. Billions are being committed to data centers, power infrastructure and the compute required to train and run increasingly sophisticated AI models. At the same time, communities are questioning, opposing and, in some cases, attempting to stop the data centers being proposed in their towns and cities. That presents an uncomfortable contradiction. We are demanding more AI, more compute and more digital services, while some of the communities being asked...

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Most year-end tax guides are organized by strategy. You get a list of twenty moves and you work out which ones apply to you, which is backwards, because roughly fifteen of them will not. This one is organized by entity. Find the section that describes how your business is taxed, and everything in it is something you can actually use. The rest you can skip. One thing worth saying before the details: 2026 is not a normal planning year. Several provisions...

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With commercial real estate (CRE) loans continuing to reach final maturities and some facing more difficult refinancing conditions, movements in rates and spreads remain important for the near-term financing outlook. In August, Treasury yields ended only modestly higher despite substantial volatility, while Trepp-i balance sheet lending spreads remained tight. Trepp-i is a weekly spread survey that offers insights into capital availability and underwriting trends across the major property types, with data going back to 2010.  Commercial mortgage-backed securities (CMBS) secondary...

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For international companies expanding to the U.S., real regulatory challenges begin the moment team members step onto U.S. soil to conduct business, or they hire locally. While historically the focus has been on market entry and customer acquisition, a shift in operational priorities may be needed ensure the mitigation of immigration, tax and employment liabilities. Although core U.S. immigration statutes remain unchanged, federal and state enforcement has intensified significantly. In this strict regulatory environment, an employee’s daily activities must align...

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What happened? President Trump on July 21 announced via social media a proposed tariff framework for imported generic pharmaceuticals to encourage domestic manufacturing. Under the announced framework, imported generic drugs would remain subject to no additional tariffs for a two-year transition period starting August 1, 2026. The tariff rate would then increase to 100% beginning August 1, 2028, and increase again to 200% beginning August 1, 2029. The announcement states that the existing policy applicable to patented, branded, and innovative...

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