On April 12, 2022, U.S. Customs and Border Protection (CBP) posted an announcement of its intention to issue “Known Importer Letters” in advance of the June 21st effective date of the rebuttable presumption under the Uyghur Forced Labor Prevention Act (UFLPA). Under the UFLPA, CBP will presume that goods were imported in violation of the forced labor statute if they were mined, produced, or manufactured wholly or in part in China’s Xinjiang Uyghur Autonomous Region (“XUAR”) or by an entity...

Central bankers face some difficult choices when deciding how to wrangle rising costs. For the past four decades, Americans have enjoyed consistent inflation that has hovered near the Federal Reserve’s target of 2%. Now a combination of factors is upsetting the status quo. In February, the key U.S. inflation measure, the Consumer Price Index (“CPI”), showed that prices for goods and services rose 7.9% compared to a year ago, the highest level since January 1982. On a monthly basis, prices for...

Business succession planning can be complex and challenging. Explore all your options before deciding how to leave your company. Key insights Start succession planning as soon as possible to allow for unforeseen challenges and limitations of potential successors. For owners who want to retire, there are generally six options for transitioning your business, including to family, employees, competitors, or third parties. All transition options have pros and cons. Work with a financial professional to find the one that’s right for...

Aviation recommitted to its plan of reducing carbon emissions last year. It had first set itself a target in 2008 of halving the industry’s global emissions from the 2005 figure of 650 million tons by 2050. With the recommitment at the 2021 IATA Annual General Meeting, the goal is now aligned with the Paris Agreement of net-zero carbon emissions by 2050 to limit the increase in global temperature to less than 1.5°C by 2100. In 2019, the global aviation industry...

​Given that the global tech giants are primarily headquartered outside Europe, analysing the recent trends in Foreign Direct Investment (FDI) can help to identify which locations are proving attractive for data centre operations. Our latest findings confirm that the largest investment activity continues in mature tech and financial hubs in Western Europe, namely Amsterdam, Dublin, Frankfurt, and London. Key driver for activity in this group of locations is proximity to the high economic activity of these increasingly digitised markets. Interestingly,...

On Tuesday, the European Parliament decided by 403 votes in favour, 166 against and 58 abstentions to enter into negotiations with EU governments on a Commission proposal for a Pay Transparency Directive. MEPs demand EU companies with at least 50 employees (instead of 250 as originally proposed) be required to disclose information that makes it easier for those working for the same employer to compare salaries and expose any existing gender pay gap in their organisation. Currently, working women in...

Now that political agreement has been reached on the final text, the Digital Markets Act (DMA) will enter into force soon. The DMA’s ex ante rules and obligations will apply next to the ad hoc EU and national competition rules. Time for big digital companies to take stock of the potential implications of these additional rules on their day-to-day business operations. See our infographic for a concise overview of the DMA. Rebuttable gatekeeper presumption The DMA introduces a rebuttable presumption to designate digital...

The federal and provincial governments are gradually relaxing the Temporary Foreign Worker (TFW) Program to address the current labour shortage. Here is an overview of the current and upcoming flexibilities, as well as a reminder of current updates regarding travel restrictions as of April 7, 2022: Increasing the number of occupations on the list of occupations eligible for Quebec's simplified TFW process One of the major flexibilities announced is the increase in the list of occupations eligible for Quebec's simplified Labour...