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TRUMP 2.0: What would a second Trump term mean for the business environment?

2024-04-08T20:48:49+00:00

The 2024 rematch between President Biden and President Trump is months away and looks as if it could be a real nail biter with the outcome potentially decided by a handful of voters in a few swing states. Assuming he prevails, what would a second Trump term mean for business? For policy and global markets? For trade?  How is Trump likely to address geopolitical challenges that could escalate in the next few years? While his first term is an indicator, we would likely see a more robust application of Trump policy the second time around.  To start, he would be freed from the political burden of seeking another term.  A second Trump term would also see a much better organized team enter the White House (no more Omarosa scenarios). According to reports, extensive preparations are being made today with numerous working groups drafting policy documents, executive orders and lists of political appointees for the [...]

TRUMP 2.0: What would a second Trump term mean for the business environment?2024-04-08T20:48:49+00:00

Confused about your reporting requirements under the Corporate Transparency Act? Try starting with this resource.

2024-03-28T15:15:20+00:00

7 Things You Should Know About the New Federal Reporting Requirement If you own a business, get ready. There’s a new federal reporting requirement for business owners, and you don’t want to ignore it. If you do, the penalties are high. Here are seven key things to know. What is the new requirement? Effective Jan. 1, more than 32 million business owners need to complete a special form called the Beneficial Ownership Information Report. You’ll need to file it with the Financial Crimes Enforcement Network (FinCEN), an arm of the U.S. Department of the Treasury. The form is required as part of the 2021 Corporate Transparency Act. This act aims to reduce money laundering and the concealment of illicit funds by targeting shell companies and many other entities. Who needs to file the Beneficial Ownership Information Report? Entities including corporations, pass-throughs, partnerships, estate and benefit plans, and foreign companies registered to do business in any [...]

Confused about your reporting requirements under the Corporate Transparency Act? Try starting with this resource.2024-03-28T15:15:20+00:00

New Multinational Corporate Tax – European Union

2024-01-09T21:07:56+00:00

The long-negotiated 15% minimum corporate tax rate for multinational corporations came into force on January 1, 2024 throughout the European Union. The EU becomes the first major region to make this regulation mandatory. The minimum corporate tax is the so-called "second pillar" of the OECD global agreement negotiated in recent years to adapt to the new global reality, where many companies do not necessarily have a physical presence in the countries in which they operate and achieve large profits. In particular, the new directive aims to guarantee effective taxation in situations where the parent company is located outside the EU in a country with low levels of taxation that does not apply equivalent rules. According to OECD calculations, this will force the world's 100 largest multinationals to pay tax on a portion of their profits in the countries where they operate, even if they do not have a physical presence there. The signatories of the OECD [...]

New Multinational Corporate Tax – European Union2024-01-09T21:07:56+00:00

Businesses, tech groups warn EU against over-regulating AI foundation models

2023-11-24T21:38:51+00:00

  Businesses, tech groups warn EU against over-regulating AI foundation models BRUSSELS, Nov 23 (Reuters) - Businesses and tech groups on Thursday warned the European Union against over-regulating artificial intelligence systems known as foundation models in upcoming AI rules as this could kill nascent start-ups or drive them out of the region. The plea came as EU countries and EU lawmakers head into the final stretch of negotiations on rules that could set the benchmark for other countries. One of the biggest bones of contention is foundation models, such as OpenAI's ChatGPT, which are AI systems that are trained on large sets of data, with the ability to learn from new data to perform a variety of tasks. "For Europe to become a global digital powerhouse, we need companies that can lead on AI innovation also using foundation models and GPAI," DigitalEurope, whose members include Airbus (AIR.PA), Apple (AAPL.O), Ericsson (ERICb.ST), Google (GOOGL.O), LSE [...]

Businesses, tech groups warn EU against over-regulating AI foundation models2023-11-24T21:38:51+00:00

IRS cybersecurity chief says agency has made ‘tremendous progress’ on logging

2023-11-24T21:36:58+00:00

  IRS cybersecurity chief says agency has made ‘tremendous progress’ on logging The Internal Revenue Service is gathering more network logs, automating many of its cybersecurity playbooks, and planning to conduct a tabletop exercise on artificial intelligence threats in the coming year, according to a top cyber official. Rick Therrien, director of cybersecurity operations at IRS, said the agency has made “tremendous progress in the last year on the gathering of audit logs.” The White House Office of Management and Budget has directed agencies to capture more logging data to gain greater visibility into activities and potential threats on their networks. “The IRS has made tremendous strides in that space,” Therrien said during a Nov. 16 webinar hosted by ACT-IAC. “We have tremendous diversity of technology platforms, the legacy systems and modern cloud systems. We’ve managed to do extensive data acquisition across the enterprise.” The IRS is combining its log data with new security [...]

IRS cybersecurity chief says agency has made ‘tremendous progress’ on logging2023-11-24T21:36:58+00:00

96 Percent of Upstream Firms Developing New O&G Fields: Report

2023-11-24T21:31:37+00:00

  96 Percent of Upstream Firms Developing New O&G Fields: Report Germany-based environmental non-profit Urgewald has found that 96 percent of a select 700 upstream companies are developing new oil and gas fields, while 1,023 firms are planning new liquefied natural gas (LNG) terminals, pipelines, or gas-fired power plants. Urgewald has recently published the second update of the Global Oil & Gas Exit List (GOGEL), a public database that provides a detailed breakdown of the activities of oil and gas companies worldwide. It covers 1,623 companies active in the upstream, midstream, or gas-fired power sector. Companies listed on GOGEL account for 95 percent of global oil and gas production, the organization said in a news release. According to the update, the industry’s annual capital expenditure on oil and gas exploration has risen by more than 30 percent since 2021. Over the past three years, the oil and gas companies in the database spent a [...]

96 Percent of Upstream Firms Developing New O&G Fields: Report2023-11-24T21:31:37+00:00

Global equities head toward big monthly gain, dollar falls

2023-11-24T21:27:39+00:00

  Global equities head toward big monthly gain, dollar falls NEW YORK/LONDON, Nov 24 (Reuters) - Major Wall Street indexes notched weekly gains on Friday, as global equities drifted toward their biggest one-month rally since November 2020 during a shortened, muted trading session following the U.S. Thanksgiving holiday. Oil futures traded steady ahead of next week's OPEC+ meeting, which could bring some kind of agreement on output cuts in 2024. Gold futures finished higher as the dollar index slipped against a basket of currencies on Friday. Data showed U.S. business activity held steady in November, but employment in the private sector declined. MSCI's index of global shares (.MIWD00000PUS) added 0.12% and headed for a monthly gain of 8.7% after investors grew increasingly confident that U.S. interest rates have peaked, with the market narrative shifting to the timing of cuts. . The Dow Jones Industrial Average (.DJI) rose 117.12 points, or 0.33%, to 35,390.15, the [...]

Global equities head toward big monthly gain, dollar falls2023-11-24T21:27:39+00:00

US appeals court proposes lawyers certify review of AI use in filings

2023-11-24T21:23:14+00:00

  US appeals court proposes lawyers certify review of AI use in filings Nov 22 (Reuters) - A federal appeals court in New Orleans is proposing requiring lawyers to certify that they either did not rely on artificial intelligence programs to draft briefs or that humans reviewed the accuracy of any text generated by AI in their court filings. The 5th U.S. Circuit Court of Appeals in a notice late Tuesday unveiled what appears to be the first proposed rule by any of the nation's 13 federal appeals courts aimed at regulating the use of generative AI tools like OpenAI's ChatGPT by lawyers appearing before it. The proposed rule would govern lawyers and litigants appearing before the court without counsel and would require them to certify that, to the extent an AI program was used to generate a filing, citations and legal analysis were reviewed for accuracy. Lawyers who misrepresent their compliance with the [...]

US appeals court proposes lawyers certify review of AI use in filings2023-11-24T21:23:14+00:00

Mexico Nearshoring Tax Incentives

2023-10-30T18:49:40+00:00

In an effort to capitalize on the nearshoring trend in Mexico which has seen companies move closer to the US in an effort to simplify supply chains, in an Executive Order the government announced a new set of tax incentives for companies looking to relocate operations to the country. The Executive Order applies to investment in fixed assets and will be available until the end of 2024, with benefits ranging from 56% tax relief to 89% on those investments. Below is a summary of the new tax incentives and their application. Click Here to View Full Article

Mexico Nearshoring Tax Incentives2023-10-30T18:49:40+00:00

Indonesia Strengthens Business Relations with Latin America and The Caribbean at the 5th INA-LAC Business Forum

2023-09-21T22:05:54+00:00

  Indonesia Strengthens Business Relations with Latin America and The Caribbean at the 5th INA-LAC Business Forum Jakarta, Indonesia - Indonesia continues to expand its business reach to the rapidly-growing Latin American market. The Indonesian Ministry of Foreign Affairs will again hold the Indonesia-Latin America and the Caribbean (INA-LAC) Business Forum on 16-17 October 2023 at the Ritz Carlton Hotel Mega Kuningan, Jakarta. This activity is expected to open wider doors for businesses in the country to explore business opportunities in Latin America and the Caribbean region. In its pursuit to deepen business ties with Latin American and Caribbean countries, the Indonesian Ministry of Foreign Affairs has adopted the theme "Forging an Effective Partnership" for the INA-LAC Business Forum 2023. This theme reflects Indonesia's determination to foster strong and effective partnerships with these countries. "The INA-LAC Business Forum is a response to President Jokowi's order that we continue to make [...]

Indonesia Strengthens Business Relations with Latin America and The Caribbean at the 5th INA-LAC Business Forum2023-09-21T22:05:54+00:00
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