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Recent Editions
North America
Human Times
The National Labor Relations Board has scheduled an election at the Volkswagen (VW) plant in Chattanooga, Tennessee, from April 17 to 19. The election will be the first test of the United Auto Workers' (UAW) effort to organize nonunion automobile factories across the nation. The UAW aims to target more than a dozen nonunion auto plants, including those run by Tesla, Nissan, Mercedes-Benz, Hyundai, Kia, Toyota, Honda, and others. The VW plant in Chattanooga has over 4,000 production workers, and a supermajority of them have signed cards supporting union representation. The UAW has previously come close to representing workers at the VW plant in two previous elections. The union has cited mistreatment by VW management and low pay as reasons for seeking unionization. The UAW's organizing effort comes after successful strikes against General Motors, Ford, and Stellantis, which resulted in pay raises and other benefits for workers.
Full IssueUK
Human Times
The Confederation of British Industry (CBI) has admitted to using non-disclosure agreements (NDAs) to prevent staff from speaking publicly about their workplace experiences. Up to 10 NDAs have been signed in the past year after the lobbying group's sexual misconduct scandal. The agreements have been accompanied by substantial financial settlements from the CBI. CBI chief executive Rain Newton-Smith has defended the use of NDAs, saying: "To the best of my knowledge anything we have signed in the past 11 months allows individuals to raise issues with the police.” MPs on a Treasury committee investigating sexism in the City recently called for the use of NDAs to be banned in such cases, saying they had the effect of "silencing the victim of harassment and forcing them out of an organisation, while protecting perpetrators."
Full IssueUSA
Education Slice
The upcoming total solar eclipse on April 8 is inspiring educational lessons in schools. Students are engaging in activities related to science, literacy, and culture. Some schools are organizing group viewings for students to experience daytime darkness and learn about the astronomy behind it. The event has required rearranging the school day for some schools, but educators believe it is a valuable learning opportunity. Learning about phases of the moon and eclipses is built into every state's science standards, but there is no better lesson than witnessing the real thing. Teachers are incorporating the eclipse into their lessons and encouraging students to love science. Overall, the total solar eclipse is seen as a unique and exciting event that provides valuable educational experiences for students.
Full IssueUSA
Accountancy Slice
Four years after the enactment of a key pandemic-era law, the Internal Revenue Service (IRS) has investigated 1,644 tax and money laundering cases related to COVID fraud potentially totaling $8.9bn. These cases include fraudulently obtained loans, credits, and payments meant for American workers, families, and small businesses under the Coronavirus Aid, Relief and Economic Security (CARES) Act. As of Feb. 29, 795 people have been indicted for their alleged COVID-related crimes and 373 individuals have been sentenced to an average of 34 months in federal prison. IRS Commissioner Danny Werfel stated that the work by IRS Criminal Investigation plays a vital role in protecting against fraud and ensuring fairness in the nation's tax system. CI's ongoing fraud-protection work will be bolstered by additional funding received through the Inflation Reduction Act. CI Chief Guy Ficco emphasized the importance of seeking out fraudsters who stole money from government loan programs for personal gain.
Full IssueScotland
Legal Matters Scotland
The Government has announced plans to crack down on the misuse of non-disclosure agreements (NDAs) to ensure they are not used to silence victims of crimes. The law is set to be changed to make sure NDAs cannot be legally enforced if they prevent victims from reporting a crime. The change will mean information related to criminal conduct can be discussed with law enforcement agencies and lawyers while elements of confidentiality agreements relating to commercially sensitive information or financial agreements will retain their legal effects. Justice Secretary Alex Chalk said: “We are bringing an end to the murky world of non-disclosure agreements, which are too often used to sweep criminality under the carpet and prevent victims from accessing the advice and support they need.” He added that the changes will ensue that gagging orders cannot be legally enforced against victims “to prevent justice from being delivered and their voices being heard.”
Full IssueNorth America
Legal Slice
Lateral hiring by law firms fell 35% in 2023, marking the second straight year of decline, according to a report by the National Association for Law Placement (NALP). The median number of lateral attorneys hired per office dropped from six in 2022 to four in 2023, while the average number of lawyer laterals declined by 42%. This decline in hiring is the lowest since the Great Recession in 2010. NALP's report is based on surveys from 479 U.S. law firm offices. The decline in lateral hiring, along with lower summer associate recruiting, suggests that law firms are projecting lower demand in the coming years and have adjusted their staffing accordingly. Lateral associate hires declined by nearly 43%, while lateral partner hires decreased by 10%. However, demand for lateral partners varied by firm size. Firms with 500 or more lawyers curtailed lateral partner hires by over 19%, while lateral associate hires increased by nearly 21% at firms with 250 or fewer lawyers.
Full IssueEurope
Risk Channel
The Bank of England has warned that the UK faces growing risks from weaknesses in the global financial system. The Financial Policy Committee (FPC) said some global risks to financial stability have increased since its December meeting, including a rise in political tensions. The FPC said that while prices of assets such as shares and bonds have risen, leading to higher valuations, economic conditions remain challenging. Noting the risk of a “sharp correction,” the committee warned that investors may be “putting less weight on risks to growth or the path of interest rates necessary to bring inflation back to target sustainably.” Private equity could be particularly vulnerable to a fall in asset prices, BoE officials warned, saying; “The extent of transparency around asset valuations, overall levels of leverage, and the complexity and interconnectedness of the sector make assessing financial stability risks difficult.”
Full Issue