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Rise in repeat U.S. corporate bankruptcies reported
BankruptcyData has revealed that since 2023, over 60 firms have filed for bankruptcy for a second or third time. Adam Shpeen, a partner in Davis Polk & Wardwell LLP’s restructuring practice, remarked: “For an industry like retail where there’s a secular challenge, it’s not surprising that even using all of the tools of bankruptcy, you…
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Disappearance of traditional export markets imperils German economic model
With the German economy focused on exports, a slowdown in imports to China and continuing threats of US tariffs are posing challenges to the country’s growth. Germany’s manufacturing industry continues to shrink while its economy has also contracted for the past two years, with Jacob Kirkegaard, a Brussels-based senior fellow at the Peterson Institute for…
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Dropping DEI could trigger lawsuits, despite Trump’s order
Experts have warned that U.S. companies scaling back diversity, equity, and inclusion (DEI) initiatives in response to President Donald Trump’s executive order may risk an increase in workplace discrimination lawsuits. The order, which directs federal agencies to terminate DEI programs and encourages private companies to follow suit, has led some businesses to end or reduce…
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Age discrimination lawsuit filed against automakers
The Equal Employment Opportunity Commission (EEOC) has filed lawsuits against General Motors (GM) and the United Auto Workers (UAW) for age discrimination, as well as against Stellantis’ FCA U.S. unit for sexual harassment. The EEOC claims that GM and UAW’s sickness-and-accident benefits policy, effective since October 2019, discriminates against employees aged 66 and older, violating…
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Trump threatens to double tax rates for foreign companies
U.S. President Donald Trump has instructed the Secretary of the Treasury to investigate whether any foreign company, or individual, should face higher taxes because American corporations or citizens are being unfairly taxed overseas. Under Section 891 of the U.S. tax code, the president has the power to double the rate of tax on foreign nationals…
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Edelman Trust Barometer finds trust in authority eroded
The latest Edelman Trust Barometer survey has revealed a dramatic change in people’s trust in governments, business leaders and the media, with some 31% of Gen Z respondents agreeing that violence to persons or property can be justified. Chief executive Richard Edelman said that “We’re seeing a lot more nationalism and a lot more frankly…
