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Recent Editions

North America
Human Times
Donald Trump has instructed his Cabinet to work with Elon Musk’s Department of Government Efficiency (DOGE) but clarified that Cabinet members should be the ones making staffing decisions. In a meeting at the White House yesterday attended by secretaries of state and Musk, the president hinted that DOGE may have been too indiscriminate in its mass firings of federal employees. Trump posted on Truth Social soon after the meeting ended: “As the secretaries learn about, and understand, the people working for the various departments, they can be very precise as to who will remain, and who will go. We say the ‘scalpel’ rather than the ‘hatchet’ . . . It’s very important that we cut levels down to where they should be, but it’s also important to keep the best and most productive people . . . We’re going to have these meetings every two weeks until that aspect of this very necessary job is done.” At the same time, Trump also praised Musk and DOGE after the meeting. "I think they've done an amazing job," he told reporters.
Full Issue
UK
Human Times
Ministers are responding to potential welfare budget cuts by redeploying 1,000 work coaches to assist the long-term unemployed. The Department for Work and Pensions said that these coaches will provide "personalised and intensive" support to those on health-related benefits, aiming to help them with CV writing and interview techniques. However, the Resolution Foundation says that only about 3% of those likely to lose benefits will find employment. The DWP acknowledged that the current system is "defined by poor experiences and low trust" among users, with 2.8m people economically inactive due to long-term sickness.
Full Issue
USA
Education Slice
A group of eight states has filed a lawsuit against the Trump administration to stop significant cuts to teacher training programs. These programs are essential for addressing teacher shortages in STEM fields and supporting students with disabilities or those learning English. Attorneys general from California, Massachusetts and New Jersey are co-leading the lawsuit, the second to be filed against the cuts, which has been joined by Colorado, Illinois, Maryland, New York and Wisconsin. They argue that the cuts, which add up to more than $600 million, threaten the quality of education and could lead to increased reliance on underqualified educators. The lawsuit also claims that the administration's actions violate the Administrative Procedure Act and disrupt the training of teachers necessary for diverse student populations. The two grants at issue are the Teacher Quality Partnership and Supporting Effective Educator Development, established by Congress in 2008 and 2011, respectively, to recruit and train educators to work in high-need rural and urban school districts. The coalition of states is seeking a preliminary injunction from U.S. District Judge Myong Joun in Massachusetts, to block the funding cuts.
Full Issue
USA
Accountancy Slice
President Donald Trump has signed an executive order to create a government reserve of bitcoin, marking a significant step towards mainstream acceptance of cryptocurrency. According to David Sacks, Trump's “crypto czar,” the U.S. will retain approximately 200,000 bitcoin seized in various legal proceedings, saying: “The U.S. will not sell any bitcoin deposited into the Reserve. It will be kept as a store of value.” The order also mandates a comprehensive audit of the government's bitcoin holdings, which have never been fully assessed. Trump, who has shifted from skepticism to support for digital currencies, is pushing for favorable legislation and plans to host a “Crypto Summit” at the White House. Bitcoin has a market cap of about $1.7tn and is seen as a hedge against inflation despite criticism regarding its inherent value.
Full Issue
Scotland
Legal Matters Scotland
As the costs of legal services soar, law firms are increasingly moving away from traditional billable hours to flat-fee billing systems. Research by Clio indicates that 54% of UK law firms expect fixed-fee billing to rise in the coming year. Sarah Murphy, general manager of EMEA at Clio, said: “Clients are pushing for more predictable pricing structures, and many firms are recognising that hourly billing doesn't always reflect the value of the work delivered.” The integration of AI into legal practices is a significant factor driving this change, with 62% of firms anticipating increased AI use. This shift aims to enhance client satisfaction and align with corporate budgeting needs, as general counsels express concerns over rising legal costs. Despite this trend, many top firms still maintain internal targets for billable hours, indicating a complex transition in the industry.
Full Issue
North America
Legal Slice
U.S. President Donald Trump has signed an executive order suspending security clearances for employees of Seattle-founded law firm Perkins Coie, citing its diversity practices and political activities. The order against the firm, which undertook work for Democrats during the 2016 campaign, represents an escalation of efforts to punish groups the president sees as aiding his enemies, the New York Times reports. Perkins Coie attorneys have in recent weeks joined other lawyers who are opposing the Trump administration’s actions publicly in court. The executive order denounces what it calls “dishonest and dangerous activity” at the firm, noting its hiring of a research firm that precipitated the compilation of a dossier of unsubstantiated allegations against Mr. Trump related to possible ties between his campaign and Russia. The order accused the firm of “undermining democratic elections, the integrity of our courts and honest law enforcement.” A Perkins Coie spokesperson said in a statement to CNN: “We have reviewed the Executive Order. It is patently unlawful, and we intend to challenge it.”
Full Issue
Europe
Risk Channel
According to a report by the Treasury Committee, nine major banks and building societies in the UK experienced 803 hours of technical issues over the past two years, equating to 33 days of service disruption. MPs investigating the impact of banking outages collected data from Barclays, HSBC, Lloyds, Nationwide, Santander, NatWest, Danske Bank, Bank of Ireland and Allied Irish Bank. The Committee looked at IT failures between January 2023 and February this year and found there had been 158 incidents. The report shows that Barclays is set to pay up to £12.5m in compensation to customers affected by the outages. Dame Meg Hillier MP, Chair of the Treasury Select Committee, said: "For families and individuals living pay check to pay check, losing access to banking services on payday can be a terrifying experience."
Full Issue
North America
CFO Slice
President Donald Trump has signed off on tariff exemptions for imports from Canada and Mexico that are covered under the 2020 U.S.-Mexico-Canada Agreement (USMCA). The levies will now not apply until April 2nd, at which point Mr. Trump has pledged to impose reciprocal tariffs on other nations with duties on American imports. The exemptions apply to some things like potash, which is used in fertilizers, but some Canadian energy products won’t qualify and will be subjected to a 10% tariff. All other goods, including computers from Mexico, will be subjected to the 25% tariff. "On April 2nd, we're going to move with the reciprocal tariffs, and hopefully Mexico and Canada will have done a good enough job on fentanyl that this part of the conversation will be off the table, and we'll move just to the reciprocal tariff conversation," Commerce Secretary Howard Lutnick said. "But if they haven't, this will stay on."
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