Research in the Arctic region is essential for the study of climate change and many other challenges facing the world today. Many universities and research institutions are interested in exploring the Arctic, but only a few of them have the resources to access the Arctic Ocean. Now Arctia, a Finnish icebreaker operator, wants to invite institutes, universities and other bodies from all over the world to join an icebreaker-assisted expedition to the Arctic. The Arctic 100 Expedition is a part...

Read more

The European Investors' Association says the merger will significantly reduce competition. Retail investors have come out against the proposed merger of Deutsche Boerse AG and the London Stock Exchange Group plc, citing decreased competition. The European Investors' Association, a retail investor lobby group, have written a letter to European Competition Commissioner Margrethe Vestager calling for her to not approve the merger. European Investors' chairman Paul Koster wrote that the association is "highly concerned" about the implications of the merger, especially given...

Read more

The U.S. Department of Labor’s (DOL) electronic permanent labor certification system (PERM) as we know it has been in existence for the past 10 years. This year, the Office of Foreign Labor Certification (OFLC) is expected to publish new regulations aiming to modernize the current PERM program to better meet the needs and practices of employers. The OFLC has expressed a desire to see the final regulation published before the end of President Barack Obama’s term, meaning action on...

Read more

Essilor International joins the Business Call to Action with a commitment to expand access to vision care in developing countries New York, 1 August 2016 – Essilor International, the world’s leading ophthalmic optics company with a mission to improve lives by improving sight, has joined the Business Call to Action (BCtA) with a pledge to create 40,000 primary eye care workers in underserved regions by 2020. The company expects its broadening inclusive business models to improve health outcomes, productivity and...

Read more

According to Friday's Commercial Mortgage Alert issue, real estate developer Sheldon Solow struck a deal with J.P. Morgan to refinance a $1.2 billion fixed-rate CMBS loan against the 1.7 million square-foot Solow Building. Solow is expected to use the new financing to pay down an existing CMBS mortgage on the iconic Manhattan skyscraper, the $625 million 9 West 57th Street note. The 5-year loan matures in February 2017. The new loan will have a 10-year term structure and a coupon rate...

Read more

Every shipowner and marine insurer knows that shipowners are entitled to limit their liability for marine claims. In Bahamas Oil Refining Company International v Owners of The Cape Bari, a decision which has attracted considerable interest in the shipping industry, the Privy Council has held that parties to a contract are able to waive their right to limit their liability. Facts On 25 May 2012, the vessel Cape Bari collided with sea berth no. 10 at Freeport, Grand Bahama. The berth...

Read more

On, August 1, 2016, the maximum daily penalty for premerger notification violations under the Hart-Scott-Rodino Act (HSR Act) increases from $16,000 to $40,000. This 250 percent increase, which the Federal Trade Commission (FTC) announced at the end of June, is mandated by a statute requiring federal agencies to adjust civil penalties for inflation. Key Notes: Maximum fine for HSR violations increased from $16,000 to $40,000 per day. Increased penalties and enforcement could result in millions of dollars in fines. Harsher penalties generally reserved...

Read more

The Germany-US trade corridor is firmly entrenched, with HSBC analysts expecting demand for German capital and goods to remain high in its primary North American market. Contrary to expectations, Germany is a commerce and industry bright spot in Europe. Labelled the Sick Man of Europe at the turn of the century, Germany defied its critics to emerge from the global recession and a series of euro crises as an economic superstar. The nation reversed its shrinking growth rate and high unemployment...

Read more

Chicago, IL – BDO USA, LLP, one of the nation’s leading accounting and consulting firms, today announced an expansion of its South Florida practice through the addition of just over 100 staff, including 14 partners, from Goldstein Schechter Koch (GSK).  Founded in 1949, GSK provides a full range of accounting, tax and wealth advisory services to a client base of public and private middle market businesses, nonprofits and high net worth individuals. The firm, which has offices in Coral Gables...

Read more

On March 11, 2016, U.S. Department of Homeland Security (DHS) published a final rule pertaining to optional practical training (OPT) for certain students with degrees in science, technology, engineering, or mathematics (STEM). This rule permits employers to retain, for a longer period, the talents of individuals currently dependent on an F-1 nonimmigrant student visa. As a transitional measure, U.S. Citizenship and Immigration Services (USCIS) has provided certain students currently holding 17-month employment authorization documents (EADs) under the STEM OPT...

Read more