Josep Borrell visited IE University to join a discussion on the new world order at the launch of a new phase of the school | Josep Borrell, Vice-President of the European Commission and High Representative of the European Union (EU) for Foreign Affairs and Security Policy, visited IE University to share his views on the new global order at the celebration of a new chapter for IE School of Politics, Economics and Global Affairs. “As global change is accelerating, we can...

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A jury in New York recently found two Trump Organization companies guilty on multiple charges of criminal tax fraud and falsifying business records. The case was in connection with a longtime scheme to fail to report and pay taxes on compensation for top executives. (The verdict involved Trump Organization’s Trump Corp. and Trump Payroll Corp. units. Neither former President Donald Trump nor his family were charged in the case, but he was mentioned repeatedly during the trial by prosecutors.) Over more than...

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In this week’s Roar: a (possible) bottom for logistics activities, a glut of boxes, repositioning to China, air cargo back to ‘normal’, and retailers still feeling sluggish. Just released transportation metrics show the downward spiral has slowed a bit. The overall LMI (Logistics Managers’ Index) logged in at 57.6 in January, three points higher than in December which is the second straight increase for the index after falling seven of eight months. “Inventories are much lower now than they were...

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In September 2021, the European Data Protection Board (EDPB) set up a Cookie Banner Taskforce (Taskforce) to coordinate the response to several hundred complaints made to data protection supervisory authorities (SAs) by the NGO NOYB concerning the design and characteristics of cookie banners. The objectives of the Taskforce are to promote cooperation, information sharing and best practices. On 18 January 2023, the Taskforce published its draft report on work undertaken to date. In the report, the SAs agreed on an...

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Some progress was made this week on the AI Act as lead negotiators in the European Parliament came to an agreement on a set of compromised amendments. The EU AI Act, which was first published by the European Commission in April 2021, is a flagship proposal to regulate Artificial Intelligence technology in the EU. The overarching objective of the proposal is to ensure that AI systems placed on the EU market and used within the bloc are safe and...

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On February 1, 2023, the Federal Trade Commission (FTC) announced a complaint against and proposed settlement agreement (the “proposed order”) with GoodRx, a digital health company, over its data sharing practices that allegedly resulted in the disclosure of sensitive health information to third-parties. This is the first enforcement action the FTC has ever brought under the Health Breach Notification Rule (HBNR).1 The commissioners unanimously voted to approve the proposed order, which must be published for public comment before the...

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The European Commission, in response to an inquiry by the European Ombudsman and pressure from Irish privacy campaigners, has requested that all national data protection regulators file detailed bi-monthly reports on any active large-scale cross-border investigations. The Commission stipulates that the reports will be required to include details including key procedural steps taken, the controller and/or processor who is the subject of investigation, as well as the provisions of GDPR that are at issue. This development has scope for considerable...

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The Retained EU Law (Revocation and Reform) Bill, or “Brexit Freedoms Bill,” is moving through the UK Parliament. Bill would end the special status of Retained EU Law in the UK (those laws kept in place at the time of Brexit) and enable it to be amended, repealed or replaced more quickly and easily. The immediate potential impact of this law for employers would be the possible deletion of certain employment regulations unless they are preserved or replaced. The...

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In a notice scheduled to be published in the Federal Register on February 7, 2023, the office of the U.S. Trade Representative (USTR) announced that it is again extending the China 301 tariff exclusions on 81 “COVID items” which would have otherwise expired on February 28, 2023. The extensions will run through May 15, 2023. The specific items in question can be accessed here. By way of background, the USTR had previously announced the extension or modification of a total of 99...

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Practitioners and EU officials alike seem to be in agreement that the Foreign Subsidy Regulation (Regulation (EU) 2022/2560; “FSR”), which entered into force on 12 January 2023 (see our News Alert here), will have a significant effect on M&A deals. The new notification tool for transactions introduced in Articles 19 to 26 of the FSR has the potential to impose major bureaucratic burdens on deal parties by requiring them, if certain thresholds are exceeded, to notify certain transactions and...

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