On September 21st, the Bank of England ended a run of 14 straight interest rate hikes, maintaining the interest rate at 5.25%. Data showing inflation running below expectations was a determinant, as the bank said in a statement, “There are increasing signs of some impact of tighter monetary policy on the labor market and on the momentum in the real economy more generally.” According to the Financial Times, the majority of eurozone businesses reported continued falls in activity and new orders this...

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On September 19, 2023, U.S. Citizenship and Immigration Services (USCIS) submitted proposed regulations for federal review entitled “Modernizing H-1B Requirements and Oversight and Providing Flexibility in the F-1 Program.” These proposed regulations, currently under review with the Office of Management and Budget (OMB), would amend governing rules regarding H-1B specialty occupation workers and F-1 students who are the beneficiaries of timely filed H-1B cap-subject petitions. Quick Hits The Office of Management and Budget is currently reviewing proposed changes to H-1B requirements...

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Osborne Clarke recently launched a report on an Ageing Workforce. The report was produced by Censuswide, who surveyed 700 employees aged between 35-55 and working in different industry sectors across the UK. It explores areas including benefits, pensions, retirement planning, training and skill sets and offers employers a valuable tool in their planning for incentivizing, supporting and retaining older employees. The ability to work on a flexible basis and from different locations (including overseas) continues to be an important benefit,...

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In recent weeks, Arm, Instacart, and Klaviyo priced their IPOs, marking some of the first notable IPOs by technology companies in the past 18 months. As macroeconomic conditions and market sentiment appear to stabilize, whispers of IPO potential have started to emanate from the boardrooms of late-stage private companies, underwriters, and venture funds. After an 18-month quiet period, there are finally signs of life. Are IPOs back and will they be here to stay? Can Marquee Deals Reinvigorate the Market? Investor...

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The IRS is leveraging its Inflation Reduction Act (IRA) funding to target its compliance efforts on high-income and high-wealth individuals, complex partnerships, and large corporations. As part of these initiatives, the IRS recently announced that it is establishing a special group to focus on large or complex passthrough entities. The new passthrough group will include employees joining the IRS under its recently announced plan to hire more than 3,700 new employees to help with its expanded enforcement efforts. The IRS...

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It’s possible to turn a factory into a smart factory much faster and cheaper than most executives think. When many people imagine a smart factory, they envision something complicated and expensive — the kind of massive “manufacturing execution system,” or MES, that can take more than a year and millions of dollars to implement. If you’re Elon Musk, you can pour money into advanced automation and robotics — and keep pouring. But you don’t need to be Elon Musk. Many...

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With no end in sight for labor shortages thanks to pandemic-fueled worker exits, re-shoring, changing workforce demographics, and more—board-level pressure for efficiencies will drive strategic planning well into the next decade. The race is on to embrace new technologies in manufacturing—and all eyes are on AI. On the 19th of September, 100+ senior executives gathered in Milwaukee to discuss “Investments in AI and Digital Technologies to Address Labor Challenges.”  Three CXO executives of manufacturing companies headquartered in Milwaukee offered insight into...

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At the start of 2023, many industry participants were expecting more stable market conditions in the year ahead, in anticipation of an easing of the pressures applied by soaring inflation. However, continued interest rate rises by central banks to mitigate inflation has ensured a continuation of an uncertain – and in many cases, extremely challenging – outlook for businesses. This has also significantly muted M&A (and therefore LBO lending) activity for a longer period, driven by overall macroeconomic uncertainty and...

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