On 12 March 2024, the European Parliament approved the proposed Cyber Resilience Act (Proposal for a regulation on horizontal cybersecurity requirements for products with digital elements; "CRA"). The CRA now has to be formally adopted by the European Council in order to come into law. This is expected in April 2024. The CRA is aimed at improving the cybersecurity of products with digital elements, such as doorbells, smart home devices and Wi-Fi routers, sold on the EU market. It introduces...

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Artificial intelligence (AI) has become increasingly important in the enterprise, thanks in part to the rise of generative AI (GenAI). While not a new technology or concept, AI (including machine learning) holds tremendous promise to transform various business functions and activities worldwide — from accounting and finance to cybersecurity, customer experience and more. In boardrooms and C-suite offices everywhere, AI is inspiring conversations on reimagining how the business operates. Realizing AI’s opportunities, measuring and managing both benefits and risk, becomes...

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The European Central Bank is optimistic about inflation hitting its 2% target, strengthening arguments for lowering record-high borrowing costs, as indicated in its recent meeting summary that was reported by Reuters. Despite maintaining rates in March, officials hinted at a possible June rate cut, given progress in managing inflation and moderating wage growth. Although there's confidence in reaching the inflation goal, the bank remains cautious, opting to wait for more data before making rate decisions. Upcoming meetings may solidify plans for...

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In this podcast, Meagan Dziura, a member of Ogletree Deakins’ Immigration Practice Group, covers alternatives for employees not selected in the H-1B lottery, given the stagnant number of USCIS selections made for H-1B visas despite an increased demand over the past few years. Meagan discusses potential options for visa applications, including specialty occupation and treaty visas, such as the H-1B1 and E-3 visas, as well as the TN professional and O-1 extraordinary ability visas. Meagan also explores opportunities for...

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The European Commission has launched an in-depth investigation into a public procurement procedure to examine potential market distortions of foreign subsidies. This is the first in-depth investigation under the Foreign Subsidies Regulation (FSR) which came into effect on 12 July 2023. The Commission will assess whether foreign subsidies allowed CRRC Qingdao Sifang Locomotive Co Ltd (CCRC), a Chinese state-owned train manufacturer, to submit an unduly advantageous offer in reply to a tender for electric trains in Bulgaria. The Foreign Subsidies Regulation The...

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Congress on Spring Break …What’s on Deck? The U.S. Congress remains out on spring break this week and is scheduled to return to Washington, D.C., the week beginning April 8, 2024. With 2024 funding for the federal government wrapped up, upon its return, Congress will turn its attention to the myriad items that have stacked up on its to-do list. This includes authorizing funds to rebuild Baltimore’s Francis Scott Key Bridge and provide military aid to Ukraine. Additionally, Congress will...

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In this week’s Roar: Stagnant ocean rates, air demand staying strong, the Port of Baltimore closure, a new reality for the Port of Hong Kong, and the importance of data quality. Despite the worsening conditions on the Red Sea, spot rates aren’t rising. Geopolitical tensions have increased, with Russian warships entering the area and the continuing attacks on commercial vessels in the region by the Houthis. Shipping lines still have enough capacity to reroute around Africa, which is holding spot...

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The U.S. Environmental Protection Agency announced its selection for $20 billion in grant awards under two competitions within the historic $27 billion Greenhouse Gas Reduction Fund (GGRF), which was created under the Inflation Reduction Act. The EPA chose three nonprofits under the National Clean Investment Fund and five nonprofits under the Clean Communities Investment Accelerator to create a national clean financing network. Agreement to prioritize climate goals Collectively, the nonprofits have committed to help make significant impact toward the Biden-Harris administration’s climate goals. The eight...

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