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Recent Editions
North America
Human Times
Apple's board has urged shareholders to reject a proposal from the National Center for Public Policy Research to eliminate its diversity, equity, and inclusion (DEI) programmes. The board, including CEO Tim Cook, said: "The proposal is unnecessary as Apple already has a well-established compliance program," saying that it would restrict the company's operational management. The board said the tech giant "is an equal opportunity employer and does not discriminate in recruiting, hiring, training, or promoting on any basis protected by law." Apple added that the proposal "inappropriately attempts to restrict Apple's ability to manage its own ordinary business operations, people and teams, and business strategies," and accuses the think-tank of trying to "micromanage" the company.
Full IssueUK
Human Times
Apprenticeships in the UK have seen a significant decline, dropping by nearly a third over the past decade. The government's introduction of a levy on businesses aimed at promoting training has failed to reverse this trend, with a 14% decrease at large firms alone. The Chartered Institute of Personnel and Development reports that fewer employers are providing training, despite a doubling of skill shortage vacancies. Analysis by the Social Market Foundation also suggests that many companies are using the £2.5bn fund to train existing executives rather than creating opportunities for young people.
Full IssueUSA
Education Slice
The 2024 State of Teaching survey by Education Week reveals significant disparities between teachers and administrators regarding non-teaching duties. While 32% of principals believe teachers are not overburdened, only 14% of teachers agree. The survey, which included 1,498 teachers and 659 administrators, highlights a disconnect in perceptions of additional responsibilities, such as supervision and administrative tasks. Scott Goldstein, executive director of EmpowerEd, notes that this gap reflects a lack of awareness about daily classroom demands. The findings suggest that without addressing these discrepancies, teacher morale and retention may continue to suffer. The next report on teacher morale is expected in early 2025.
Full IssueUSA
Accountancy Slice
The IRS is distributing approximately $2.4bn to taxpayers who missed claiming the Recovery Rebate Credit on their 2021 tax returns. By the end of January, around 1m taxpayers will receive special payments of up to $1,400. IRS Commissioner Danny Werfel stated, “Looking at our internal data, we realized that 1m taxpayers overlooked claiming this complex credit when they were actually eligible.” Eligible individuals will receive automatic payments without needing to file amended returns. The IRS will notify recipients via letters, and payments will be sent by direct deposit or check. Taxpayers who have not yet filed their 2021 tax returns can still claim the credit by the April 15th 2025 deadline.
Full IssueScotland
Legal Matters Scotland
Edinburgh will implement a visitor levy on all overnight stays starting from 24 July 2026, with bookings made from 1 May 2026 subject to a 5% plus VAT surcharge. The initiative, the first mandatory citywide scheme in the UK, aims to generate up to £50m annually to address the challenges posed by mass tourism. Council leader Jane Meagher said: "The funding could provide Edinburgh with the biggest single injection of new funding this side of the millennium." The levy will apply to all types of accommodation, impacting at least 4,000 providers, and follows similar voluntary schemes in other English cities. The Welsh Government is following the lead of the Scottish parliament in introducing new powers for councils to impose a visitor charge, which is expected to be a fixed rate of 75p per night for campsites and hostels and £1.25 for all other accommodation.
Full IssueNorth America
Legal Slice
Donald Trump faced “sufficient” evidence to have been convicted at trial for seeking to overturn the result of the 2020 U.S. presidential election, according to Jack Smith, the special counsel who led the case against the president-elect. Smith’s report detailing his team’s findings about Trump’s efforts to subvert democracy was released by the justice department early on Tuesday. Smith said Trump would have been convicted but for the 2024 poll victory, which made it impossible for the prosecution to continue. “The department’s view that the constitution prohibits the continued indictment and prosecution of a president is categorical and does not turn on the gravity of the crimes charged, the strength of the government’s proof or the merits of the prosecution, which the office stands fully behind,” Smith wrote. “Indeed, but for Mr Trump’s election and imminent return to the presidency, the office assessed that the admissible evidence was sufficient to obtain and sustain a conviction at trial.” Trump, in a post on his Truth Social site, called Smith a “lamebrain prosecutor who was unable to get his case tried before the election.”
Full IssueEurope
Risk Channel
The Home Office is consulting on proposals that could ban all public sector bodies - including schools, locals councils and the NHS - from making ransomware payments. The proposals, which also include moves to increase the National Crime Agency's awareness of attacks and to make reporting of attacks mandatory, are intended to make public bodies less appealing targets for criminal gangs. Security minister Dan Jarvis said that with "an estimated $1bn (£800.2m) flowing to ransomware criminals globally in 2023, it is vital we act to protect national security." Richard Horne, chief executive of the National Cyber Security Centre, said the moves mark "a vital step in our efforts to protect the UK from the crippling effects of ransomware attacks and the associated economic and societal costs."
Full IssueNorth America
CFO Slice
The proceeds from U.S. initial public offerings will probably rise in 2025 in the wake of monetary easing that helped boost total total IPO valuations 47% last year compared with 2023, according to EY. Mark Schwartz, EY Americas IPO and SPAC advisory leader, said that total proceeds from U.S. IPOs will likely increase this year beyond $40bn from $32.8bn in 2024, and that the total number of transactions this year will likely range in the historical average between 125 and 150 compared with 183 last year. “The market is in the process of figuring out who will be the winners and losers based on how policy changes play out” under President-elect Donald Trump, he explained. “Ultimately though, a pro-business environment would be expected to be a meaningful tailwind for the IPO market.”
Full Issue