In May, the average hourly price on the Iberian Electricity Market (Mibel) in Portugal was €76.1 per megawatt hour (MWh). About 67.4% of the 2,926 GWh (gigawatt-hours) of electricity generated in May in mainland Portugal came from renewable sources, according to data from the Portuguese Renewable Energy Association (APREN), released on Wednesday. “In mainland Portugal 2,926 GWh of electricity was generated in May 2023, of which 67.4% was of renewable origin,” APREN said in a statement, explaining that the 5.5% increase...

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Regulators are increasingly taking enforcement action against crypto asset industry participants for violating anti-money laundering (AML) and sanctions laws. Regulators are concerned about the illicit use of crypto assets and are increasingly scrutinizing crypto asset companies. As we have previously discussed,1 companies in the crypto asset industry must be acutely aware of their AML and sanctions obligations or face the risk of an enforcement action by a federal or state regulator. As the chart below documents, federal and state regulators,...

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While many experts have argued we haven’t been in an economic recession for the last 12-18 months, the transportation space may be in a different spot. Over the last few weeks, we’ve seen results from the publicly traded motor carriers with decreased revenues, earnings, or both. There have been statements referencing a softening economy, tough shipping environments, and even recession. This isn’t surprising as many would argue we’ve been experiencing one for a while now. Freight rates have fallen...

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Highlights from this year’s What Occupiers Want report include perspectives on workplace design, global talent recruitment, flexible work and changes to real estate portfolios. Since 2015, Cushman & Wakefield has been taking the pulse of CRE leaders around the world to understand What Occupiers Want. In our annual survey—conducted in partnership with CoreNet Global External Link—we ask about trends in office location and workplace, perspectives on changes to portfolios, and strategies around policies, procedures and decision-making. Over the past five...

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The monthly newsletter gives you an overview of recent notable changes in Canadian and American immigration. Here is an overview of the most recent news as of June 9, 2023. CANADA Immigration as a continued Headline The Quebec Prime Minister, François Legault, announced new criteria requiring a minimum level of French for economic immigrants applying into the province’s upcoming programs. The goal of the government being to have all economic immigrants speak French by 2026. The province is also seeking to protect...

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On 5 June, a significant collaboration in the field of digital health was unveiled by the European Commission and the World Health Organization (WHO). In June of 2023, the WHO will adopt the EU’s digital COVID-19 certification to form a global system. This global system aims to facilitate international travel and safeguard individuals worldwide from existing and future health risks. It serves as the initial step towards the development of the WHO Global Digital Health Certification Network (GDHCN), which will create a diverse range of digital...

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It has been a turbulent 12 months for the global crypto industry. Clouds first gathered with the collapse of stablecoin Terra and its sister token Luna in May 2022. This was swiftly followed by the bankruptcies of crypto lender Celsius Network and hedge fund Three Arrows Capital. The period of turmoil culminated with the dramatic collapse of crypto giant FTX in November 2022. Recently, the unrest in the American crypto market triggered a run on two central crypto bankers,...

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On May 22, 2023, Ireland’s Data Protection Commission (DPC) published its long-awaited decision in the Meta EU-U.S. data transfer case (Decision). In its landmark Decision, the DPC imposed a record 1.2 billion EUR fine and ordered Meta Platforms Ireland Limited (Meta) to suspend any EU-U.S. transfers of personal data within approximately five months. Meta was also ordered to bring its operations into compliance within six months. Meta has announced that it will appeal the DPC’s decision as well as...

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Inflationary pressures and higher interest rates are now front and center of the executive agenda. Planning for the future based on the realities of this new environment and considering areas of risk is essential. As regulators and markets react to the recent banking disruption, many factors are adding complexity to this equation, even following the recent quarter-point rate hike. Federal guarantees for uninsured deposits, backstops for collateral lending facilities, and an assumed slowdown in the pace of interest rate hikes...

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Finland’s Minister for Foreign Affairs Pekka Haavisto and United States Secretary of State Antony Blinken signed a Joint Statement on Cooperation in Advanced Wireless Communications between Finland and the United States in Helsinki on 2 June. In the Joint Statement, Finland and the United States confirm their common ambition to cooperate in key areas of 6G research and development and to increase interaction between Finnish and US actors. 6G will represent a major transformation from the preceding generations of wireless...

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