24 Mar
Member News

Steptoe & Johnson | EU Proposes Critical Raw Materials Act and Net Zero Industry Act

On March 16, 2023, the European Commission published its proposal for a Regulation establishing a framework for ensuring a secure and sustainable supply of critical raw materials ("Critical Raw Materials Act" or "CRMA"). The proposal sets out a number of actions aiming to ensure the EU's access to a secure, diversified and sustainable supply of critical raw materials, which are essential for the EU’s strategic sectors, including its green and digital industries, aerospace, and defense sectors. Of note, the CRMA...

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23 Mar
Member News, New York Related News

RPJ Law | New York State and City Propose an End to At-Will Employment

As an employment lawyer, I often find myself having the same difficult conversation with prospective clients who believe they were wrongfully discharged.  I explain that while the circumstances of the termination may seem unfair, if the worker was an at-will employee (like most employees in the United States), then the termination was likely not unlawful unless it involved discriminatory animus.  Even employees who were plainly bullied at work face an uphill battle under the current law, unless that bullying...

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23 Mar
Member News

AICEP Portugal | Foreign investment boosts economy, supports development, says OECD

In 2020, it adds, "companies owned by foreigners represented only about 2% of companies in Portugal, but employed 18% of the national workforce" and were responsible for 46% of exports. Foreign direct investment (FDI) “strengthens the Portuguese economy and supports its development”, says the OECD in the report on the impact of the regulatory framework in Portugal, pointing out that foreign companies account for 25% of R&D. “Foreign investment plays an important role in economic activity and job creation in Portugal,”...

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23 Mar
Chapter News

FTC | Negative reinforcement? FTC proposes amending Negative Option Rule to include click-to-cancel and other protections

Prenotification plans, continuity programs, automatic renewals, free-to-pay conversions. They’re all variations on the negative option theme. Under the right circumstances, those marketing methods can be convenient for consumers. But as decades of FTC law enforcement makes clear, when negative options are tainted with untruths, half-truths, and hidden strings, the impact on consumers can be, well, negative. That’s why the FTC is asking for public comment on proposed amendments to its Negative Option Rule designed to combat unfairness and deception. When...

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23 Mar
Member News

Mason Hayes & Curran | Surplus Office Space is Not Black and White

Commercial leases generally contain restrictions on assigning and sub-letting without landlord consent. For some office tenants, the flexibility to address so-called grey space or surplus office accommodation that is held under a commercial lease but not being used, is becoming more important. In our previous article, Sharing is Caring in Office Leases, we discussed common restrictions/conditions on assigning, sub-letting or sharing occupation in commercial leases, together with compromises that could be negotiated at the outset of a lease to satisfy...

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22 Mar
Member News

CLA | Bank Industry Uncertainty Raises Cybersecurity Risk

Key insights Cybercriminals are looking to exploit the uncertainty surrounding the bank industry failures and strains. Be alert for increased cybersecurity risks. The cyber risks of tomorrow will not be limited to high-profile bank closures. Cyber threats will continue to test the mettle of organizations across all industries. Organizations need constant vigilance from management, layered security controls, informed customers, and savvy employees to help protect assets and preserve the organization's reputation. In light of the failures and strains in the...

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22 Mar
Member News

EIB | Water as a vital investment in our future: the EIB at the United Nations 2023 Water Conference

European Investment Bank to join the UN 2023 Water Conference, 22 to 24 March in New York The European Investment Bank (EIB) - one of the world’s biggest public lenders for water -will be attending the UN Water Conference to join the call for more investment in water to tackle the global development and climate challenges. The EIB, owned by the 27 European Union countries, will be represented by experts from its water and global directorates and by its...

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22 Mar
Chapter News

ECB Speech | Everything everywhere all at once: responding to multiple global shocks

Speech by Fabio Panetta, Member of the Executive Board of the ECB, at a panel on “Global shocks, policy spillovers and geo-strategic risks: how to coordinate policies” at The ECB and its Watchers XXIII Conference | Frankfurt am Main, 22 March 2023 | We are still going through a sequence of global shocks that are disrupting economies around the world. In just three years we have seen a pandemic, severe supply chain disruptions, a war, an energy crisis and now...

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21 Mar
Chapter News

IMF | How Pandemic Accelerated Digital Transformation in Advanced Economies

On this note: be sure to check out the EACCNY's podcast series on the FUTURE OF TECHNOLOGY Digital technologies shielded labor and productivity from the pandemic, while lagging countries accelerated the adoption of technology. However, digitalization gaps persist. As the world does its best to move on from the pandemic, one of the lasting legacies for many advanced economies has been greater adoption of digital technologies. Working from home is now common, and many companies have expanded online operations. And as the...

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21 Mar
Member News

Troutman Pepper | More Than $1.737B in SBA Debenture Leverage Priced at 5.168%

Licensed by the U.S. Small Business Administration (SBA) under the Small Business Investment Act of 1958, a small business investment company (SBIC) represents a privately owned and operated investment fund that makes long-term investments in U.S. small businesses. SBICs invest billions of dollars in American small businesses — the drivers of economic growth and jobs in the United States. A fund primarily becomes licensed as an SBIC to obtain access to low-cost, long-term financing (leverage) from SBA to enable...

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