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Global rules on foreign direct investment (FDI)
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
United States | Publication | April 2021
As the COVID-19 pandemic has continued, many cities have passed ordinances providing hazard or "hero pay" to essential workers, typically amounting to an extra US$4 to US$5 per hour. Recently, Los Angeles City and Los Angeles County passed such ordinances, following the likes of Berkeley, Buena Park, Coachella, Daly, Montebello, Oakland, San Jose, San Leandro, Seattle, and West Hollywood. One city, Long Beach, passed its "hero pay" ordinance on January 19, 2021, requiring large grocery stores in the city to provide each grocery worker with premium pay of an additional US$4 per hour for each hour worked for a minimum of 120 days. On January 20, 2021, the California Grocers Association (CGA) filed suit against the City of Long Beach, contending its "hero pay" ordinance was preempted by the National Labor Relations Act and violated the Equal Protection and Contracts clauses of the U.S. and California constitutions. On February 25, 2021, the District Court denied CGA's request for a preliminary injunction finding CGA was unlikely to prevail on its preemption, equal protection and contract clause claims.
CGA has now appealed the District Court's decision to the Ninth Circuit. With more and more cities passing "hero pay" ordinances, all eyes will be on the Ninth Circuit to see how it rules on this appeal.
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Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
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On February 2, 2024, the Belgian Presidency of the Council of the European Union confirmed that the Committee of Permanent Representatives had signed the Artificial Intelligence (AI) Regulation, referred to as the AI Act. Approval by the EU Parliament followed on 13 March 2024, and the AI Act is likely to appear in the EU’s Official Journal around May 2024. The AI Act aims to establish a stringent legal framework governing the development, marketing, and utilisation of artificial intelligence within the region, thereby marking a significant advancement in the regulation of this burgeoning domain.
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The EU’s Artificial Intelligence Regulation, commonly referred to as the AI Act, is expected to come into force during the summer of 2024 (the AI Act). The AI Act will be the first comprehensive legal framework for the use and development of artificial intelligence (AI), and is intended to ensure that AI systems developed and used in the EU are safe, transparent, traceable, non-discriminatory and environmentally friendly.
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