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Member News
Member News
24
Jul
(excerpt) Retail sales increased in May for the fourth straight month, while consumer sentiment—as measured by the University of Michigan's monthly survey of consumers—fell to a record low. How, then, are consumers financing their spending?
The answer had been credit cards. Card balances grew in March and April at the strongest back-to-back pace in three years, but they fell by a 4.7% seasonally adjusted annualized rate in May, with the decline likely the result of repayment after heavy spring borrowing....
23
Jul
On 30 June 2026, the European Banking Authority (EBA) published revised Guidelines on product oversight and governance (POG) for retail banking products. The revised Guidelines strengthen the existing POG framework by explicitly incorporating ESG and greenwashing considerations.
Embedding ESG features into the POG framework
The amended Guidelines clarify that product oversight and governance arrangements for retail banking products for both manufacturers and distributors should also apply to products with ESG features.
Manufacturers and distributors are expected to take ESG features of a product into...
23
Jul
The Global Guide Quarterly (GGQ) is a newsletter published by Littler on a quarterly basis to provide high-level and concise coverage of global labor and employment (L&E) law developments in key countries across the Americas, the Asia-Pacific (APAC) region, and Europe, the Middle East, and Africa (EMEA). The GGQ aims to help multinational enterprises stay informed about important changes in the L&E law framework by covering enacted legislation, significant judiciary or regulatory decisions, legislative initiatives, and trends impacting employers.
The...
22
Jul
Bernastic, the advanced materials company transforming textile waste into high-performance manufacturing materials, today announced the successful production of its first 2,500-pound run of Bernastic, marking a significant milestone in the company’s journey from research and development to scalable manufacturing.
The production run represents years of materials research, formulation refinement, engineering, and testing aimed at solving one of the world’s largest environmental challenges: finding meaningful, scalable applications for textile waste.
“What started as a simple question, What else could this be?, has...
22
Jul
Uncertainty is a global public cost — the mirror image of a "global public good." It touches every organization, whether we invite it in or not, and an entire industry of metrics and reports exists just to measure it. The good news: uncertainty doesn't have to mean your business or productivity suffer. As Condoleezza Rice once recalled her parents telling her, you may not control your circumstances, but you can control your reaction to them.
That distinction — between the...
21
Jul
Key Points
On July 20, 2026, President Trump invoked Section 338 of the Tariff Act of 1930 to impose 50% ad valorem tariffs on three categories of Canadian-origin goods — alcohol, dairy, and a broad range of non-automotive products — effective August 19, 2026.
Unlike Section 122 of the Trade Act of 1974, Section 338 carries no fixed expiration date, leaving these tariffs in effect indefinitely unless the president acts to modify or terminate them.
Products otherwise eligible for...
20
Jul
In this week’s Roar: Jumping diesel prices, fragmentation of U.S. tariffs, East Asia’s ongoing dominance, a surge in global air cargo demand, and the impact of constantly reevaluating supply chains.
After falling for nine weeks in a row, the U.S. national average for diesel jumped to $4.796 per gallon, up $1.058 in its first increase since May. We can thank the latest flare-up in the ongoing Middle East tensions, which have again pushed oil prices higher. The recent bombings and strong rhetoric...
17
Jul
The IRS is introducing a new Automatic Exemption from Penalty (AEP) program that will begin replacing its longstanding First Time Abatement (FTA) administrative penalty relief for eligible returns with original due dates on or after January 1, 2027. While the change is designed to simplify penalty relief by automatically waiving certain penalties for qualifying taxpayers, it also creates a new strategic consideration that many taxpayers and advisors may overlook.
How IRS Penalty Relief Works
Almost every taxpayer has missed a tax...