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☆ Biden administration set to revamp Trump’s tariff program after multi-year review, sources say
▼ + stars: | 2024-05-10 | by ( Kayla Tausche | ) edition.cnn.com time to read: +5 min

Washington CNN —The Biden administration is set to unveil a sweeping restructuring of former President Donald Trump’s trademark tariffs on Chinese imports, according to sources familiar with the matter. “The Biden administration has neutralized China as a campaign issue,” said Hodge, now a managing director at Bully Pulpit International. Tariffs are essentially a tax on US businesses and consumers, adding to the cost of imported goods. More than half of the duties have been collected during the Biden administration. The Biden administration had planned to release the results of the review in advance of the Pittsburgh speech, the sources familiar with the matter said, but ended up delaying the release.

Persons: Washington CNN —, Biden, Donald Trump’s, Joe Biden refines, Trump, Adam Hodge, “, ”, Hodge, –, ” Biden, Janet Yellen, Antony Blinken, Clete Willems, Akin Gump, Willems Organizations: Washington CNN, US Trade Representative, Biden’s National Security Council, US Trade, Treasury, Commerce, Trump, US Customs, “ Steel, Seven, European Union, National Economic Council, EU, European Commission, Treasury Department Locations: China, Pittsburgh, Italy, Puglia

☆ A high-powered NYC lawyer is suing his ex for custody of their poodle and $208K, saying the pet is 'more than a dog' to him
▼ + stars: | 2024-04-25 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +4 min

A New York City lawyer is suing his ex-boyfriend, also a lawyer, for custody of a miniature poodle. The couple purchased the dog — Raven — together in 2020, but broke up last month. Taylor Leighton, who called the dog his 'child,' is also seeking more than $200,000 in damages. AdvertisementA New York lawyer is suing his former boyfriend, also a lawyer, for custody of their miniature poodle and more than $200,000 in damages, according to an affidavit published by the Daily Beast. AdvertisementIn the affidavit, Leighton argued that although Nathan Greess contributed $2,000 toward the purchase, it was only because he owed money for household expenses.

Persons: —, Taylor Leighton, Akin Gump Strauss Hauer, Feld, Countess Raven, Raven, Luann, Leighton, Nathan Greess Organizations: Service, Daily, Feld LLP, Housewives, New, Scripps News Locations: York City, York, Minnesota, New York City, Raven

☆ India and South Africa block major investment deal at WTO talks
▼ + stars: | 2024-02-29 | by ( ) www.cnbc.com time to read: +1 min

Delegates attend the 13th World Trade Organization Ministerial Conference in Abu Dhabi of Feb. 26, 2024. India and South Africa have filed a formal objection against an investment agreement at a World Trade Organization meeting in Abu Dhabi, blocking its adoption in a move that observers say could block hundreds of billions of dollars in investment. India and South Africa have filed a formal objection against an investment agreement at a World Trade Organization meeting in Abu Dhabi, blocking its adoption in a move that observers say could block hundreds of billions of dollars in investment. The deal agreed by some 125 countries, or about three-quarters of the WTO's members, aims to simplify red tape, improve the investment environment and encourage foreign direct investment. A Western trade delegate at the talks called it "ironic that India and South Africa stand in the way of something with such manifest benefits for developing countries."

Persons: Alan Yanovich, Akin Gump Strauss Organizations: World Trade Organization Ministerial, World Trade Organization, South Locations: Abu Dhabi, India, South Africa

☆ IRS postpones rule change on digital payment reporting for small businesses and side hustles
▼ + stars: | 2023-11-21 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +4 min

The change might have resulted in 44 million more 1099-K forms being sent in January to such filers, including small business owners, freelancers, those with side hustles and gig workers. Regardless of delay or rule change, your tax obligations remain the sameNeither the delay of the rule change nor the eventual implementation of it will change your tax burden in any way. That’s because you have always been obligated as a taxpayer to report the money you make from your business activities to the IRS. The difference once the rule change goes into effect is that the IRS will be learning about your business income from a third party payment platform. And the change will effectively pull back the curtain on just how much business income is being generated on third-party payment platforms.

Persons: “, ”, Danny Werfel, –, Sherrod Brown of, Bill Cassidy, Biden, Arshi Siddiqui, Akin Gump, they’re Organizations: New, New York CNN, IRS, American, The Coalition, Electronic Transactions, Airbnb, PayPal, Democratic, Ks Locations: New York, Poshmark, Sherrod Brown of Ohio, Louisiana

A view of a Nvidia logo at their headquarters in Taipei, Taiwan May 31, 2023. U.S. officials asked for input in devising a "tamperproof" way to keep systems that might contain up to 256 AI chips from being strung together into a supercomputer. The other primary gift that U.S. officials gave Nvidia, Intel and AMD was hobbling their most capable Chinese competitors. New rules will make it nearly impossible for Moore Threads and Biren, two well-funded Chinese startups founded by Nvidia veterans, to have their designs manufactured using cutting-edge chipmaking technology. That means whatever Nvidia is able to sell to China will likely be Chinese buyers' best legal option.

Persons: Ann Wang, ChatGPT, Thomas Krueger, They're, Moore, Piper Sandler, Dan Hutcheson, Japan's, Clete Willems, Akin Gump, Gregory Allen, David Kanter, Stephen Nellis, Max A, Kenneth Li, Jamie Freed Organizations: REUTERS, FRANCISCO, Biden, Nvidia, Intel, Devices, U.S . Bureau of Industry and Security, U.S . National Security Council, BIS, AMD, Japan's Nikon, U.S, Center for Strategic, International Studies, Real, Thomson Locations: Taipei, Taiwan, China, U.S, Netherlands, Japan, San Francisco

At issue is RISC-V, pronounced "risk five," an open-source technology that competes with costly proprietary technology from British semiconductor and software design company Arm Holdings (O9Ty.F). RISC-V can be used as a key ingredient for anything from a smartphone chip to advanced processors for artificial intelligence. The RISC-V technology came from labs at the University of California, Berkeley, and later benefited from funding by the Pentagon's Defense Advanced Research Projects Agency (DARPA). Its executives said in August they believe RISC-V will speed up chip innovation and transform the tech industry. Jack Kang, vice president of business development at SiFive, a Santa Clara, California-based startup using RISC-V, said potential U.S. government restrictions on American companies regarding RISC-V would be a "tremendous tragedy."

Persons: Florence Lo, Joe Biden's, Marco Rubio, Mark Warner, Mike Gallagher, Biden, Michael McCaul, McCaul, " Rubio, Warner, Jack Kang, Kang, Kevin Wolf, Akin Gump, Barack Obama, Wolf, Max A, Cherney, Stephen Nellis, Will Dunham, Kenneth Li Organizations: REUTERS, U.S ., Arm Holdings, Republican, Democratic, Reuters, Commerce Department, People's, CCP, Chinese Communist Party, House Foreign Affairs, of Industry, Security, Commerce, University of California, Pentagon's Defense, Research Projects Agency, DARPA, HUAWEI, Huawei Technologies, Qualcomm, Google, Thomson Locations: China, U.S, Beijing, People's Republic of China, Communist China, Swiss, Berkeley, United States, SiFive, Santa Clara , California, San Francisco

☆ SpaceX countersues Justice Department, seeking to dismiss hiring discrimination case
▼ + stars: | 2023-09-20 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

Elon Musk's SpaceX sued the U.S. Department of Justice in a Texas federal court, as the company aims to stop the DOJ's hiring discrimination case on constitutional grounds. Unlike SpaceX's suit, filed in the Southern District of Texas, the DOJ suit was filed within a division of the agency that adjudicates immigration cases, a key point of contention in the company's response. "SpaceX has not engaged in any practice or pattern of discriminating against anyone, including asylees or refugees. SpaceX's suit names a trio of defendants, including U.S. Attorney General Merrick Garland. SpaceX's hiring tops the acceptance rates of even the most selective, elite U.S. colleges, as "only about 1% of applications result in a hire," according to the company.

Persons: Elon, Akin Gump Strauss Hauer, Feld, General Merrick Garland Organizations: SpaceX, U.S . Department of Justice, DOJ, Southern District of, U.S, Export Administration, Persons Locations: Texas, U.S, Southern District, Southern District of Texas

☆ Biden's executive order just the tip of the iceberg: Clete Willems
▼ + stars: | 2023-08-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBiden's executive order targeting investments in China just the 'tip of the iceberg,' says law firmClete Willems, partner at Akin Gump and former White House international economics advisor under the Trump administration, discusses the signing of an executive order aimed at regulating new U.S. investments and expertise that supports Chinese development of sensitive technologies

Persons: Clete Willems, Akin Gump, Trump Organizations: White House Locations: China

☆ Chip supply chain: China is in a leading position but doesn't have a 'chokehold,' law firm says
▼ + stars: | 2023-07-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChip supply chain: China is in a leading position but doesn't have a 'chokehold,' law firm saysClete Willems, partner at Akin Gump Strauss Hauer & Feld, says U.S. Treasury Secretary Janet Yellen's China visit was a "success" but doesn't put U.S.-China tech competition on a "different trajectory."

Persons: Clete Willems, Akin Gump Strauss Hauer, Feld, Janet Yellen's, doesn't Organizations: Treasury Locations: China, Janet Yellen's China

☆ What to expect from work the next time faraway wildfires poison your commute
▼ + stars: | 2023-06-25 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +5 min

It may have helped Google to make a decision that many other East Coast employers did not that California-based companies have more experience with hazardous air quality issues. But one thing is certain: companies and workers should expect these wildfire-related air quality issues to return. The decisions companies make on these matters have significant legal and employee satisfaction ramifications, especially given the potential for future air quality issues. Air quality is becoming a broad employee health issue Between Covid, wildfires, radon and other environmental issues, there's been an increased awareness among employers and commercial real estate firms of the importance of air quality. Broadly speaking, companies need to be asking whether the systems they have in place are "adequate to ensure protection and safe air during very bad air quality events," he said.

Persons: David Dee Delgado, didn't, Eric Adams, Sedina Banks, Greenberg, Charles Simikian, Sara H, Dickinson Wright, it's, there's, Thomas Brugato, Nathan J, Oleson, Akin Gump, James Carbone Organizations: Summit, Vanderbilt, Getty, Google, New York, Safety, Health Administration, HR Partners, OSHA, Burling, Newsday Locations: Canada, New York, California, Asia, York, East, Maryland, Los Angeles, Washington, Covington, Islandia , New York

SummarySummary Law Firms Naomi Moore joins from Akin Gump to head DLA Piper's APAC restructuring practiceMoore will split her time between the firm's Hong Kong and Sydney officesMay 2 (Reuters) - Law firm DLA Piper has hired a partner from U.S.-founded rival Akin Gump Strauss Hauer & Feld in Hong Kong to serve as its new restructuring practice leader for the Asia Pacific region, the firm said Tuesday. Naomi Moore, who has been on sabbatical since she left Akin Gump in January, will divide her time between DLA Piper’s Sydney and Hong Kong offices, the firm said in a statement. In Hong Kong, Moore joins Trinh Hoang, DLA Piper’s only other restructuring-focused partner in the office, who joined the firm from Linklaters in October last year. Linklaters added a restructuring head in Hong Kong from Allen & Overy in October. An Akin Gump spokesperson wished Moore well on her new role.

☆ How shadow bankers are already emerging as winners in the SVB collapse
▼ + stars: | 2023-03-14 | by ( Rebecca Ungarino | Dakin Campbell | ) www.businessinsider.com time to read: +6 min

But the momentum already behind the secretive private credit space has picked up — fast. He was witnessing a new willingness from borrowers to turn first to private credit, a market that has grown yet generally remains more opaque than its public-market counterparts. "Borrowers used to look at these banks and say, 'Look, the banks, they've been around forever. The private lenders say that privacy is all part of the pitch. Money managers smell opportunityThe momentum already behind the secretive private credit space has gained steam as the SVB collapse pushes companies to consider alternate sources of debt and, on the other side, private credit managers seek out new targets.

Law firms Akin Gump Strauss Hauer & Feld LLP FollowNEW YORK, Feb 28 (Reuters) - The U.S. Commodity Futures Trading Commission (CFTC) has hired a former New York prosecutor with expertise in cryptocurrency and cyber crimes to lead its enforcement unit, the agency said in a statement on Tuesday. CFTC Chairman Rostin Behnam in the statement described McGinley as a "leader in combatting modern financial fraud". "His background as a prosecutor with unique experience in commodities, crypto, and cyber-crimes and frauds makes him an ideal person to lead the CFTC’s enforcement team," Behnam said. McGinley, whose appointment is effective immediately, replaces the CFTC's acting director of enforcement and veteran CFTC official Gretchen Lowe. Reporting by Chris Prentice Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Companies like Etsy, eBay, and PayPal are fighting a new tax law they fear could lead to an avalanche of 40 million new tax forms and mass confusion among their users
▼ + stars: | 2023-01-23 | by ( Madeline Stone | ) www.businessinsider.com time to read: +6 min

A group of companies including Etsy, eBay and PayPal are lobbying against new tax rules. E-commerce companies including Etsy, eBay, and Poshmark are lobbying to stop a new tax rule that they say would confuse millions of their users. But at the lower threshold, an estimated 30 to 40 million businesses or individuals could receive a 1099-K for the first time in 2024. An eBay spokesperson said the lowered threshold is "concerning for many sellers on eBay who casually sell online to help meet important financial needs." Jeffrey Zubricki, head of Etsy Americas advocacy and public policy, was optimistic about efforts to raise the threshold from $600.

☆ Emirates REIT proposes new sukuk refinancing, ad hoc group gives nod
▼ + stars: | 2022-11-14 | by ( Yousef Saba | ) www.reuters.com time to read: +2 min

Fitch had downgraded Emirates REIT by several notches after it made the exchange offer. It is offering sukuk holders, for each $1,000 in face amount of their sukuk, $950 in face amount of new notes and $50 in cash. Emirates REIT needs 75% of its creditors to consent to the proposal to exchange the outstanding unsecured sukuk with secured ones. The group includes Arkkan Capital Management Limited, Rasmala Investment Bank Limited, GFH Financial Group, Sancta Capital, SC Lowy Primary Investments, Plenisfer Investments, Emirates NBD Asset Management, Shuaa Capital and Saray Capital. The group said it had been in talks with Emirates REIT for several months "to reach agreement on transaction terms that would provide satisfactory structural protections and economic returns for the holders of the new secured certificates".

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