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Member News
Member News
31
Jul
Written By Jessica Horwitz, Alison FitzGerald and Andrei Mesesan | On July 20, 2024, an Order Amending Canada’s Export Control List (ECL) (SOR/2024-112, or the Order) came into effect. This amendment adds five new controls under Item 5506 of the ECL, extending Canada's export regulation of certain advanced semiconductors and quantum computing technology.
These changes are unilateral strategic export controls implemented by Canada, but they are aligned with similar controls in force or in development by international allies such as...
30
Jul
Headlines for Q3 2024
Elevated ocean rates, Labor issues looming in N. America, and Cybersecurity
Global Ports
The Headlines: Port congestion in Asia, particularly in Singapore, has intensified, causing delays of up to seven days and affecting over 450,000 TEU of vessel capacity. In response, shipping rates have risen from Asia, with spot rates from North Asia to the U.S. West Coast reaching the highest they’ve been since late 2022. Singapore is attempting to expand its handling capacity; however, delays are...
30
Jul
Sales of CHF 5,834.8 million (+9.2% in CHF) in first half of the year
Sales increase by 12.8% in local currencies, negative foreign currency impact of -3.6%
Material margin expands to 55.1% (first half of 2023: 52.7%)
EBITDA margin jumps to 18.7% (first half of 2023: 16.5%)
Operating profit before depreciation and amortization (EBITDA) of CHF 1,092.9 million (previous year: CHF 881.1 million)
Successful integration of MBCC with raised synergy guidance for the year (CHF 100 – 120...
29
Jul
ING today announced the appointment of Daniele Tonella as chief technology officer (CTO) and member of the Management Board Banking, effective 5 August 2024. He will succeed Marnix van Stiphout who has held the role ad interim since 1 November 2023, in addition to his roles as chief operations officer and chief transformation officer.
Daniele Tonella (Swiss) has over 20 years of experience in technology leadership roles in the financial industry and is currently active in advisory and board roles...
29
Jul
The fallout from the CrowdStrike outage highlighted the fragility of several industries and supply chains. Even though the outage impacted a mere 1% of Windows devices, the disruption had huge economic and logistical consequences, emphasizing the need for higher standards in managing third-party computer updates, especially since the time it takes to recover can be much greater than the time of the actual incident. The event has experts calling for improved resiliency and contingency planning.
The threat to commercial shipping in...
26
Jul
New ecodesign for sustainable products rules enter into force
As of this week, new EU rules on ecodesign for sustainable products, setting out strict requirements and consumer information to almost all categories of physical goods have entered into force. The cornerstone of the Commission’s approach to more sustainable goods, it aims to significantly improve these products’ circularity, energy performance, and other environmental sustainability aspects. It will replace the existing Ecodesign Directive and is part of a package of measures to...
26
Jul
Littler published their Q2 Global Guide newsletter on July 24. Select US and European highlights are below. You can read the full guide here.
Austria
New Teleworking Law
New Legislation Enacted
Authors: Patricia Dasch, Associate, and Armin Popp, Attorney-at-Law – Littler Austria
During the COVID-19 pandemic the conditions for home offices were regulated by law for the first time. Austria’s Parliament has now passed the Teleworking Act intended to improve conditions for working from home, which will go into effect on January 1, 2025....
24
Jul
M&A will continue to be a critical tool to unlock value and drive innovation across health industries as dealmakers gear up for a busy second half of 2024.
By Christian K. Moldt, Global Health Industries Deals Leader, Partner, PwC Germany | Dealmakers in pharmaceuticals and life sciences and in healthcare services are eager to get deals done in 2024 as they grow more comfortable navigating an environment of elevated interest rates and regulatory pressure. Competition for truly innovative assets remains...