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North American Edition
24th March 2025
 
THE HOT STORY
More states require paid medical or sick leave
More states are passing or weighing laws that require employers to offer paid medical or sick leave. Voters in Missouri, Nebraska and Alaska approved paid sick leave laws in November, and at least seven states are considering paid family and medical leave laws this year, according to the National Conference of State Legislatures. Advocates say such laws can lessen financial anxiety and increase employee productivity - although some measures can place stress on smaller employers, which often don’t have a separate human resources department to monitor compliance with mandated leave policies, observes Beth Milito of the National Federation for Independent Business. Meanwhile, experts say the patchwork nature of the laws can be an additional frustration for multi-state employers.
DIVERSITY, EQUITY & INCLUSION
JPMorgan changes diversity schemes
JPMorgan Chase is revamping its Diversity, Equity and Inclusion (DEI) programs, renaming them Diversity, Opportunity and Inclusion. Chief operating officer Jenn Piepszak said: "The 'e' always meant equal opportunity to us, not equal outcomes," adding that the bank believes the change "more accurately reflects our ongoing approach to reach the most customers and clients to grow our business, create an inclusive workplace for our employees and increase access to opportunities." JPMorgan plans to integrate some DEI initiatives into different lines of business, including human resources and corporate responsibility. The bank also plans to reduce training on these topics.
WORKFORCE
Federal layoffs raise espionage fears
Mass layoffs and resignations in the federal government are raising alarms about potential espionage threats. As President Donald Trump and billionaire Elon Musk implement significant changes, thousands of federal workers with sensitive knowledge are being let go. National security experts, including Theresa Payton, a former White House chief information officer, warn that adversaries like Russia and China may exploit this situation to recruit informants. Payton said “This information is highly valuable,” as she highlighted the risks posed by departing employees who may have access to critical data. With over 100,000 federal workers typically leaving annually, the current surge in departures could increase the likelihood of espionage incidents. Experts emphasize that even one disgruntled former employee could cause significant damage, as demonstrated in past cases like Robert Hanssen and Aldrich Ames. The internet has made it easier for foreign agents to identify and recruit potential informants, raising further concerns about national security.
LEGAL
Trump administration sued by Voice of America workers
Voice of America journalists and their unions have filed a lawsuit against the Trump administration in New York federal court, arguing that the abrupt shutdown of U.S.-funded news outlets like VOA, Radio Free Europe, and Radio Liberty infringes on their First Amendment rights. The closures, affecting over 1,300 employees and cutting off services that reached 425m weekly listeners, are part of President Donald Trump and Elon Musk’s efforts to reduce federal spending, which the plaintiffs claim weakens global access to objective news, saying: "In many parts of the world a crucial source of objective news is gone." The suit seeks to reverse the decision by the U.S. Agency for Global Media, warning that the rapid shutdown could empower authoritarian regimes by leaving only state-controlled media in its wake.
CORPORATE
Ben & Jerry’s founders support ousted CEO
Ben & Jerry’s founders Ben Cohen and Jerry Greenfield say they want the ice cream brand’s ousted CEO to have his job back. Parent company Unilever removed Dave Stever amid ongoing tensions regarding the subsidiary's independence on social issues. In a message to the company’s employees, Cohen and  Greenfield expressed their support for Stever, stating: “Dave has been a tireless champion of this company and its progressive values . . . We believe there’s no one better to lead Ben & Jerry’s at this moment in its history.” They added: “While we don’t have insight into Unilever’s decision, we do know this: we stand 110% behind Dave . . . As CEO, he’s continued to lead with courage and integrity, delivering on our Social Mission while posting strong global growth last year, his first full year in the role.” The founders are no longer members of the brand’s independent board. 
Accenture warns DOGE-led spending crackdown is pulling down revenues
Accenture has warned that Elon Musk’s efforts to slash costs across the U.S. federal government had started to affect its revenues and geopolitical developments had raised economic uncertainty around the world. “Federal represented approximately 8% of our global revenue and 16% of our Americas revenue in FY 2024," chief executive Julie Spellman Sweet told analysts. "As you know, the new administration has a clear goal to run the federal government more efficiently. During this process, many new procurement actions have slowed, which is negatively impacting our sales and revenue.” The company reported earnings of $2.82 per share on revenues of $16.66bn, just higher than expectations of $2.81 per share in earnings on revenues of $16.62bn, according to FactSet.
Hudson's Bay to begin liquidating most stores
Hudson's Bay Co has been granted approval by the Ontario Supreme Court to start liquidating all but six of its 96 stores, beginning today. The Ontario Superior Court approved the retailer’s wind-down proposal as it tries to find restructuring solutions with its creditors and landlords. The liquidation will last until mid-June. Justice Peter Osborne also approved keeping on key employees to help with attempts to restructure the remaining stores. The six stores spared from the liquidation process are located in Ontario and Quebec, including the flagship Yonge-Queen location in downtown Toronto. HBC owes around C$1.1bn ($766m) in secured debt.
TECHNOLOGY
Nvidia CEO tells conference that robots are on the way
Nvidia CEO Jensen Huang has predicted at the company’s developer conference in San Jose that humanoid robots will be widely used in manufacturing within five years, saying: “This is not five-years-away problem, this is a few-years-away problem.” He introduced new software tools to aid robot navigation and suggested factories would be the first to adopt them due to their controlled environments and clear economic benefits, estimating that “the going rate for renting a human robot is probably $100,000.” Huang’s vision underscores Nvidia’s push to accelerate AI-driven robotics, starting with industrial applications.
TAX
Tax Division faces up to leadership exodus
The Tax Division is experiencing significant leadership changes, with three top officials departing in recent months due to a hiring freeze. David Hubbert, a long-time leader, left in February, while Stuart Goldberg and Francesca Ugolini also exited. Daniel N. Price from the Law Offices of Daniel N. Price PLLC expressed sadness over Mr. Hubbert's departure, noting his "continuing leadership at DOJ across administrations." The loss of experienced attorneys raises concerns about mentorship for younger lawyers and overall morale within the division. Kathy Keneally, the last Senate-approved assistant attorney general, emphasized the importance of having a confirmed leader to ensure fair enforcement of tax laws. The absence of a Senate-confirmed assistant attorney general since 2014 has left the division's leadership in a precarious position, potentially impacting tax litigation and the overall effectiveness of the tax system.
ECONOMY
California's tax credit fuels film boom
The California Film Commission announced that a record 51 films, including 46 indie projects, will benefit from the state's film and television tax credit program. This unprecedented number is expected to create over 6,400 jobs and generate nearly $580m in economic benefits, with wages exceeding $346m. Notable projects include a drag queen feature film from RuPaul Charles and an untitled film by Oscar-winning duo Daniel Kwan and Daniel Scheinert, which is set to receive almost $21m in tax credits and generate around $62m in wages. Governor Gavin Newsom emphasized the importance of these awards, stating, “Today's awards are vital to keeping production here in the Golden State.” As competition from other states increases, Newsom has proposed raising the annual tax credit allocation from $330m to $750m to retain productions in California.
INTERNATIONAL
Argentina's oilseed workers return to work
Argentine oilseed workers have ended their strike and returned to work at Vicentin's soybean processing plants following successful negotiations regarding overdue wages. The strike, initiated by the SOEA union, temporarily disrupted soy processing in Argentina, the leading exporter of soybean oil and meal. SOEA Secretary Martin Morales confirmed that workers received 75% of their February wages and are set to receive the remaining 25% next Wednesday. Workers had been demanding full payment from Vicentin, which has been in bankruptcy proceedings since 2020, citing a "critical financial situation."
OTHER
Segway issues recall notice for 220,000 scooters
Segway is recalling about 220,000 of its scooters sold across the U.S. due to a fall hazard that has resulted in user injuries ranging from bruises to broken bones. The notice was issued for the Segway Ninebot Max G30P and Max G30LP KickScooters. According to the U.S. Consumer Product Safety Commission, "The folding mechanism can fail and cause the handlebars or stem to fold while the scooter is in use, posing a fall hazard to consumers". Consumers in possession of these now-recalled scooters are urged to stop using them immediately and contact Segway to request a free maintenance kit, which includes tools and step-by-step instructions to inspect and adjust the scooters' locking mechanism as needed.
 


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