November 7, 2016 nº 1,809 - Vol. 13

"My agent said, 'You aren't good enough for movies.' I said, 'You're fired.'"

Sally Field

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  • Top News

It's the final countdown. Who is going to win?

Another day, another mixed bag of poll results for Hillary Clinton and Donald Trump. So it's a case of choose-your-own-adventure for what poll you want to believe. This election is far from decided.

A stranded $2 trillion overseas stash gets closer to coming home

The next president may have a rare opportunity to close tax loopholes that have let American corporations stash more than $2 trillion in untaxed profits outside the United States. This enormous hoard of stranded cash has barely been an issue in the contentious election campaign of 2016, and precise predictions of deals that could be made in Washington are foolhardy until the nation goes to the polls. But this much is clear: There is a growing political consensus that the time has come for change in the tax rules to encourage repatriation of the vast troves of corporate earnings held outside the country. Companies, ordinary American taxpayers and thousands of investors have substantial and sometimes conflicting stakes in the outcome. Everyone agrees that something is going to be done about this. The question, of course, is exactly what. Under current rules, by declaring that foreign profits are permanently or indefinitely reinvested abroad, American companies can defer taxation on that money. How much money, exactly, is subject to interpretation, but careful estimates extend from about $2.4 trillion to roughly $3 trillion. Both Hillary Clinton and Donald J. Trump have indicated that they plan to tax at least some of that money and induce corporations to bring it home, though details are scarce. There was bipartisan support in Congress for a deal on corporate repatriation in 2015, but it fizzled. The usual gridlock in Washington — and the likelihood of changes in the political firmament after the election — dimmed prospects for a deal in 2016. That could soon shift.

Brazilian labor agreements

In a fresh analysis, Patrícia Vilhena, partner at the law firm Pinheiro, Mourão, Raso e Araujo Filho Advogados, address the Brazilian labor agreements and the rules applicable for the foreign investors who intend to start a business in Brazil. (Click here)

  • Crumbs

1 - After $195 million in talc verdicts, J&J strives to change court - click here.


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  • MiMIC Journal

Beijing ruling bars Hong Kong lawmakers from taking office

Beijing has intervened in Hong Kong politics to block two elected lawmakers from taking office. Sixtus Leung and Yau Wai-ching, who are pro-independence, have refused to pledge allegiance to Beijing when being sworn in. Beijing has now interpreted a section of Hong Kong law to mean any official who does not swear the oath properly cannot take office. (Click here)


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  • Brief News

Trump cries foul as FBI clears Clinton

Trump has accused the FBI of impropriety after it once again exonerated his rival Hillary Clinton of criminal conduct on her emails. The FBI director said a fresh inquiry into the Democratic candidate's communications found nothing to change the bureau's conclusion this summer. The Clinton campaign said it was "glad" the lingering issue had been resolved. The dramatic twist lifted a cloud from her campaign as the final day of the marathon US election race loomed. The latest opinion polls on Sunday, before news broke of the FBI announcement, gave Clinton a four to five-point lead over Trump. (Click here)

Federal judge declines to find GOP engaging in poll intimidation

A judge for the US District Court for the District of New Jersey declined to rule Saturday that the Republican National Committee (RNC) has engaged in poll intimidation. The decision was spurred by an order late last month for the RNC to provide information in regards to "any efforts regarding poll watching or poll observation," showing any potential collusion with Donald Trump's poll monitoring campaign, aimed at intimidating minority voters—a violation of an old consent decree. Lawyers for the Democratic National Committee (DNC) argued that, in regards to potential poll intimidation, Trump and the RNC are "inextricably tied together." The RNC argued, and the court agreed, that the DNC has provided insufficient evidence to support their argument. In addition, the court found that the RNC produced documentary evidence showing there is not an agent relationship between the Trump campaign and RNC in regards to these so-called "ballot security measures." The judge, while ruling in favor of the RNC, said that the court, following election day, will hear the parties "as to additional discovery on this point in order to develop a full record to determine whether an extension is warranted."

VW emissions probe to investigate board chair Poetsch

Car giant Volkswagen says German prosecutors have expanded their probe of the emissions scandal to include the firm's chairman of the board. Hans Dieter Poetsch was chief financial officer when the scandal over cars rigged to cheat on US diesel emissions tests broke in September 2015. VW said prosecutors in Braunschweig were investigating two members of the board, Poetsch and an unnamed other. Former boss Martin Winterkorn is already being investigated. In September, Matthias Mueller, the current chief executive, said the firm had made a "huge mistake" in using technology in its diesel cars to cheat on the tests.

Federal judge rules Title VII protections extend to sexual orientation

A judge for the US District Court for the Western District of Pennsylvania ruled Friday that Title VII's protection from employment discrimination based on sex extends to sexual orientation. The ruling came as the court refused to dismiss a case where the plaintiff alleged discrimination based on his LGBT status creating a hostile work environment leading to discharge. The Equal Employment Opportunity Commission (EEOC) brought forth the complaint after a manager regularly used gay slurs against an employee and inquired about his sex life. The company filed a motion to dismiss on the grounds that the employee failed to state a legally cognizable claim. The court held that the behavior was a violation of current civil rights legislation because it was rooted in the idea that the plaintiff 's sexual orientation was not in line with what the manager believed a man's should be.

Competition would be the best solution to rising drug prices

Prosecutors are investigating drug makers for colluding over prices, but higher consumer costs may be a natural consequence of reduced competition.

UN rights experts urge Brazil to step-up recovery effort over Samarco dam disaster

One year after the disastrous collapse of a mining dam in Brazil, UN experts called on the Brazilian government, Samarco, Vale, and BHP Billiton Friday to refocus recovery efforts. The statement urged officials to act on issues concerning the environmental harm and human rights impact brought about by the catastrophe. While the UN acknowledged the steps that have already been taken to resettle affected communities and clean up the water-ways, the organization criticized the authorities for their slow progress. "The measures they are currently developing are simply insufficient to deal with the massive extent of the environmental and human costs of this collapse, which has been described as the worst socio-environmental disaster in the country's history."

Ivory Coast court upholds constitutional referendum results

The Ivory Coast Constitutional Council on Friday affirmed the results of a referendum backing a new constitution, rejecting requests from several political parties, including that of former president Laurent Gbagbo, who boycotted the vote that the referendum be annulled. Ivory Coast President Alassane Ouattara stated that the new constitution will help the country put behind a decade of political turmoil and move forward toward progress. The newly adopted constitution received a record 93 percent of the vote, although the voter turnout was only about 42 percent. The older constitution, drafted under military rule after a 1999 coup, contained a controversial clause that required both parents of the presidential candidates to be native-born Ivorians. This was meant to preclude northern Ivorians like Ouattara who have family ties that straddle the borders with Burkina Faso and Mali, from running for the presidency. Under the new constitution, a presidential candidate only needs one parent who was Ivorian instead of two. The referendum also creates a position for a vice president and the senate.

New Jersey officials found guilty over 'bridgegate' scandal

Bridget Kelly and William Baroni, former New Jersey officials under Governor Chris Christie, were found guilty Friday of all counts against them for the 2013 lane closings on the George Washington Bridge. Kelly and Baroni were facing nine counts including conspiring to fraudulently misuse federal property, wire fraud and deprivation of civil rights. The prosecution alleged that Kelly and Baroni used the lane closings to cause massive traffic jams as an act of revenge against a New Jersey mayor for not supporting Christie's reelection efforts.

Wall Street bonuses are expected to sink for 3rd straight year

Merger and acquisition talks have been active, but the deals’ advisers get paid on completion. This year, antitrust officials thwarted some large mergers.

  • Weekly Magazine Review

How the 2016 Election Became a Battle of the Sexes

Here's What The Fbi Found In The Emails On Anthony Weiner's Laptop

Business Week
Early Voters Are So Done With This Election

The Economist
The presidential election: America's best hope

Der Spiegel
The next president

Il paese dei condoni


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