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Recent Editions
North America
Human Times
A group of workers at Google has filed a complaint with the U.S. National Labor Relations Board, claiming that the company unlawfully fired them for protesting its cloud contract with the Israeli government. The workers allege that Google interfered with their rights under U.S. labor law to advocate for better working conditions. The complaint seeks reinstatement to their jobs with back pay and a statement from Google that it will not violate workers' rights to organize. Google has not yet responded to the complaint. The workers claim that the project supports Israel's development of military tools, but Google has stated that the contract is not related to sensitive or military workloads. One of the workers, Zelda Montes, who was arrested during a protest, said that Google fired employees to suppress organizing and send a message to its workforce. The NLRB general counsel will review the complaint and attempt to settle the claim. If that fails, the general counsel can pursue the case before administrative judges and a five-member board appointed by the U.S. president.
Full IssueUK
Human Times
Over a fifth of white-collar jobs in London are now fully remote, as employers in the UK capital embrace working from home to attract staff seeking higher pay without the high living costs. A survey by recruiter Hays found that the proportion of remote jobs in London has risen from 18% to 22%, making it equal to the east of England as the UK region with the highest number of fully remote jobs. Lorraine Twist, a finance director at Hays, says remote contracts are attractive to candidates who can enjoy a London salary without the commute and high property prices. The survey also revealed that the proportion of London staff working entirely in the office has decreased, while hybrid jobs have also declined. The findings suggest that parts of the UK labour market remain tight as firms compete for talent.
Full IssueUSA
Education Slice
For much of America's K-12 education system, "local control" is a bedrock principle, but state takeovers of school districts continue to be take place. Research shows that these takeovers often fail to make desired financial improvements and disproportionately benefit non-Black districts. Scholars have found little evidence linking takeovers to academic outcomes. Despite this, several districts across the country are currently under state control, with Houston ISD in Texas a high-profile example. State takeovers involve firing existing school and district leadership and replacing them with state-appointed officials. Recent research shows that takeovers contribute to increased per-pupil spending, but majority-Black districts receive only a fraction of that boost. Factors that precipitate takeovers include struggling districts, school boards with people of color, and court rulings ordering more funding for high-needs students. While state takeovers remain a possibility for many districts, there is some evidence of a shift away from this practice, with states including Tennessee and Michigan exploring other mechanisms to help school districts improve test scores and eliminate budget deficits.
Full IssueUSA
Accountancy Slice
Treasury Secretary Janet Yellen appeared before the House Ways and Means Committee on Tuesday, in a four-and-a-half hour hearing which saw her insist that President Joe Biden would keep his promise to not raise taxes on Americans who earn less than $400,000 a year if he wins a second term. “The president has been very clear that no family earning less than $400,000 will face a tax hike,” Ms. Yellen said. “He has not proposed such a thing since he took office, and he’s not proposing to allow that to happen when parts of the Tax Cuts and Jobs Act expire." Asked by Representative Michelle Fischbach (R-MN) how Mr. Biden would find a way to keep the tax cuts from expiring, Ms. Yellen said the president would work to let the cuts for the rich lapse while preserving the rest. “There will be a negotiation over what to do when these tax cuts expire and the president, as he does in many other situations, will negotiate with Congress,” she added. During the hearing, Ms. Yellen also defended a global corporate tax deal against accusations that it would siphon away U.S. revenues and said she was working to carve out an allowance for the U.S. R&D tax credit. The so-called Pillar 2 agreement for a 15% global minimum tax is aimed at halting a downward spiral of competitive corporate tax cuts by countries to attract investment and the shifting of profits to their jurisdictions by multinational firms. She argued that U.S. firms "did just fine" when the U.S. had the sole global minimum tax of 10.5% and other countries had none.
Full IssueScotland
Legal Matters Scotland
A motion of no confidence in the Scottish Government, called by the Scottish Labour Party, has failed, with MSPs voting by 70 votes to 58 to reject the motion. Scottish Labour leader Anas Sarwar said the Scottish and UK Governments have been "unable to meet the ambitions, hopes and aspirations of the people", and that the country "is crying out for change". However, Scottish Green co-leader Patrick Harvie said the motion, following the announcement of First Minister Humza Yousaf's resignation, "portrays the true motives of others: chaos for the sake of chaos". If the motion passed, he said, the country could have faced an unexpected election and a new Government formed with "a little more than a year-and-a-half until the legally required dissolution for the 2026 election".
Full IssueNorth America
Legal Slice
The highly anticipated merger between U.K. Magic Circle firm Allen & Overy and New York's Shearman & Sterling has officially taken place, resulting in the creation of A&O Shearman. With nearly 4,000 lawyers and combined revenues of $3.5bn, the new firm is now among the top five law firms in the world. The merger will strengthen A&O's presence in the U.S. and Shearman's position in the U.K. and other international markets. Khalid Garousha and Hervé Ekué have been named senior partner and managing partner respectively. Garousha described the new firm as "a platform like no other" and expressed confidence in its ability to provide clients with world-class solutions. The success of the merger and the response from A&O's U.K. rivals will be closely watched. Meanwhile, Bloomberg Law's Mahira Dayal looks at how the transatlantic firm still faces challenges to truly join the legal industry's elite. Dayal contends that even with its partnership, A&O Shearman still lacks the deep roster of private equity lawyers seen as necessary to rival top competitors, like Kirkland & Ellis and Latham & Watkins. Siobhán Lewington, a partner at search firm Macrae, commented: "The next two or three years are going to need a lot of care and attention around integration of the two firms." Dayal concludes that the merger will be judged largely based on how the combined firm performs in the US, the world's largest market for legal services.
Full IssueEurope
Risk Channel
Firms offering payment services in the UK have been given until March 2025 to meet new 'operational resilience' standards. These standards aim to ensure that firms can effectively respond to disruptions such as cyber attacks, IT glitches, or extreme weather events. The Bank of England (BoE) has introduced these standards to minimise disruptions that can lock customers out of their accounts or prevent them from making payments. The standards include "impact tolerances," which determine the maximum acceptable duration of a disruption before it causes serious harm to customers or financial stability. Sasha Mills, the BoE's Executive Director for Financial Market Infrastructure, emphasized the importance of confidence in financial market infrastructure services and called for greater engagement between financial market infrastructure (FMI) firms, participants, and the wider market. Mills also highlighted the need for FMIs to improve their testing approaches and develop robust remediation plans.
Full Issue