The US and China are the two largest economies in the world and over the past year they have imposed billions of dollars’ worth of tariffs on each other’s goods. So far, the US has imposed tariffs on more than $360 billion of Chinese goods forcing the Chinese to retaliate with tariffs on more than $110 billion of US products. (BBC). This post provides an overview of the most recent activities in the trade war between the U.S. and China, and an analysis of any implications these new tariffs have for the US, Chinese, and Global Economy.
Read MoreThe House of Representatives passed H.R. 1595 – Secure And Fair Enforcement Banking Act of 2019 (“SAFE Act”) on September 25, 2019, in a historic step toward federal marijuana legalization. (Jeff Smith, Marijuana Business Daily). Introduced by Representative Ed Perlmutter (D-Co.), the SAFE Act, which required a two-thirds majority in the House, passed with a vote of 321-103 in a rare showing of bipartisan support. Id. Under current federal money laundering statutes, any financial firm that provides services to a cannabis company, regardless of its operation in a legal state, faces heavy financial penalties. (Lane and Gangitano, The Hill). However, under the SAFE Act, financial institutions and insurance companies could provide commercial banking services to state-legal cannabis companies without fear of federal penalty. (Staff, Marijuana Business Daily).
Read MoreBudweiser Brewing Co. APAC Ltd. (“Budweiser Asia”), made an impressive entrance into the Hong Kong market last week. Budweiser Asia, a unit of Anheuser-Busch InBev (“AB InBev”), debuted in the new market on September 30, 2019, raising $5 billion for the world’s largest brewer in this share sale. (Wang, Wall Street Journal) Budweiser Asia’s performance claims the second-largest initial public offering in the world this year, trailing Uber Technologies Inc., who raised $8.1 billion and listed on the New York Stock Exchange. (Wang, Wall Street Journal)
Read MoreSince the early 1990s, the legalization of marijuana has been a prominent subject in American legislation. (Scott C. Martin, TIME) As public support for legalization has grown, the laws affecting cannabis and marijuana related businesses have been difficult to navigate. (Hilary Sledge-Sarnor, Business Law Today) These difficulties are largely attributed to a number of inconsistencies between federal and state law, which make it increasingly difficult to determine what is legal in regard to marijuana-related activity. (Id.) As of June 25, 2019, thirty-three states and the District of Columbia have passed laws legalizing marijuana, with eleven explicitly regulating marijuana for recreational use. (GOVERNING)
Read MoreIndirect Purchaser Plaintiffs v. Michael Bednarz (N.D. Cal.); 17-17367 (Ninth Circuit), derives from a multi-district litigation by both direct and indirect purchasers of lithium-ion batteries. The case implicates various manufacturers, including the three companies involved in this appeal: Hitachi Maxell, Ltd., LG Chem, Ltd, and NEC Corporation (the “Companies”). (Dorothy Atkins, Law 360). The litigation addresses the causes of action indirect purchasers have to redress injuries resulting from companies who manufacture components of their final goods sold. (Eleanor Tyler, Bloomberg Law). If this case goes before the Supreme Court, the Court will address indirect purchasers’ ability to redress their injuries.
Read MoreThe recent government shutdown prevented privately held companies from submitting their requests to the Securities and Exchange Commission (“SEC”) to offer their shares to the public. The SEC is responsible for reviewing a company’s registration documents and financial data necessary for initial public offerings (“IPOs”). Prior to the shutdown, the SEC urged companies to file accelerated registration statements so that they could be approved. (Associated Press, New York Times). Although companies may go public without SEC approved registration statements, the company would certainly be subject to SEC scrutiny upon the government’s reopening. (Rob Crilly, The National). Consequently, most companies decided to wait for approval from the SEC prior to their IPOs being made available.
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