In this week’s Roar: the future of globalization, perspectives on digital transformation, ecommerce trends, growing U.S. truck tonnage, and an opportunity for supply chain leaders to step up. A new study shows that despite talk of the end of globalization as the result of many things, like Covid, the U.S./ China trade war, the war in Ukraine, and the UK leaving the European Union, globalization continues to expand. The report indicates that the average distance covered by trade, people, and...

The Irish Data Protection Commission (DPC) published its Annual Report on 7 March 2023. We examine the headlines and key points organisations should know from the DPC’s round-up of last year’s activities. Headlines The DPC issued fines in excess of €1 billion in 2022. This significant sum amounted to two-thirds of the data protection fines issued across Europe last year. The DPC collected €17,639,500 on behalf of the Irish exchequer in 2022. The (relatively) low collection rate is a result...

The EU continues to make significant progress in the establishment of the European Digital Identity (eID). The eID will provide the legal framework to establish national digital wallets that will be interoperable across the EU. Important documentation like travel documents and personal certificates will be made available in an electronic wallet, to allow more convenient navigation for business and citizens across EU borders. On 16 March, the European Parliament adopted its position on the file, allowing inter-institutional negotiations to commence....

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...

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,”...

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...

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...