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Recent Editions

North America
Human Times
Uber Eats has agreed to pay over $15m to 16,120 drivers due to violations of Seattle's pay transparency and minimum wage laws for app-based workers. The settlement, the largest by Seattle's Office of Labor Standards, follows complaints regarding the company's "boost" program, which misrepresented potential earnings. Mayor Bruce Harrell said the settlement was “a major win for workers and a strong reminder that in Seattle, we hold large companies accountable.” The settlement includes $13.5m for the Independent Contractor Protections Ordinance and $1.5m for minimum wage violations. Despite denying the allegations, Uber Eats opted for the settlement, in a move indicative of ongoing tensions between app-based companies and local regulations.
Full Issue
UK
Human Times
Half (51%) of adults in the UK worry that artificial intelligence will take or alter their job, according to a poll of 2,600 respondents for the Trades Union Congress (TUC). Workers aged between 25 and 34 are particularly concerned about the technology, with nearly two-thirds (62%) of this demographic reporting such worries. The TUC wants the government to involve workers and trade unions as the technology is rolled out across workplaces to protect jobs, and provide training to those whose roles are replaced. TUC assistant general secretary Kate Bell said: “AI could have transformative potential, and if developed properly, workers can benefit from the productivity gains this technology may bring . . . The alternative is bleak. Left unmanaged and in the wrong hands, the AI revolution could entrench rampant inequality as jobs are degraded or displaced, and shareholders get richer.”
Full Issue
USA
Education Slice
At least two children, aged 8 and 10, were killed, and 17 others were injured during a shooting at Annunciation Catholic School in Minneapolis on Wednesday morning that occurred while students were attending Mass. The shooter, a male in his 20s, reportedly fired from outside the church using multiple firearms before taking his own life in the parking lot. All the injured victims are expected to survive, Minneapolis Police Chief Brian O'Hara said. FBI Director Kash Patel said his agency is “investigating this shooting as an act of domestic terrorism and hate crime targeting Catholics.” Annunciation Catholic School Principal Matt DeBoer said the school’s teachers acted quickly and heroically during the shooting, adding: “It could have been significantly worse without their heroic action. This is a nightmare, but we call our staff the dream team, and we will recover from this.”
Full Issue
USA
Accountancy Slice
A recent study by the Tax Foundation reveals that taxpayer compliance costs are projected to reach $536bn this year, accounting for nearly 1.8% of the gross domestic product. The report highlights that over 2.1bn hours are spent on individual tax forms, costing $146.9bn, yet this only represents less than 28% of the total compliance burden. Businesses bear a significant portion of these costs, which have increased from the previous year. Alex Muresianu, senior policy analyst at the Tax Foundation, said: "Measuring compliance costs is an ongoing task, and must be revisited when tax laws change." The study emphasizes the need for Congress to consider compliance costs before enacting new tax laws, especially with the complexities introduced by recent legislation.
Full Issue
Scotland
Legal Matters Scotland
Lord Pentland, Scotland's Lord President, has warned that appointing judges to chair public inquiries significantly strains court resources. In a letter to MSPs, he highlighted that ongoing inquiries have cost £240m and noted that judges chairing these inquiries lead to a loss of nearly 10% of sitting days in High Court and Court of Session cases. He stated: "Appointing a judge to a public inquiry therefore has a disproportionate impact on an already overstretched resource." The number of pending trials is expected to double this year compared to 2019-20, exacerbating the pressure on the judiciary.
Full Issue
North America
Legal Slice
President Trump has called for federal racketeering charges to be brought against George Soros and his son, citing their alleged support for violent protests. Trump claimed on Truth Social that the Soros family should be prosecuted under the Racketeer Influenced and Corrupt Organizations Act (RICO). The Open Society Foundations, representing the Soros family, denied the accusations, saying: "We do not support or fund violent protests." Trump's call follows reports that the Gates Foundation is quietly withdrawing support for Arabella Advisers, which funds a range of left-wing non-profits and manages several 'dark money' funds, sparking unease in the world of progressive philanthropy.
Full Issue
Europe
Risk Channel
European banks have seen widespread unauthorised direct debits from PayPal accounts, according to the German Savings Banks Association (DSGV). The German newspaper Sueddeutsche Zeitung said payments worth in the region of €10bn have had to be blocked after PayPal's fraud-checking system failed. It said payments were paused on Monday when lenders reported millions of suspicious direct debits from the payment firm. The DSGV confirmed to the BBC there had been "incidents involving unauthorised direct debits initiated by PayPal against various credit institutions."
Full Issue
North America
CFO Slice
As companies adapt to tariffs, they may unintentionally establish a tax nexus in new states. Glenn C. McCoy, Jr., principal of National Tax at Ryan, highlights the case of Apple's $26m dispute with Florida's Department of Revenue, which underscores the broader issue of states reinterpreting tax systems. States like New York, California, and Illinois treat tariffs as part of product costs, leading to additional sales tax burdens. For instance, a $1m shipment with a 25% tariff could incur an extra $75,000 in sales tax. CFOs must be aware that the importer of record significantly affects tax treatment. McCoy advises financial leaders to review purchase agreements, model multi-state impacts, and monitor nexus expansion to mitigate tariff-related tax exposure. As tariff policies evolve, the complexities of state and local tax implications will increase, making proactive management essential for maintaining margins.
Full Issue