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Commercial Awareness - April 2018
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<blockquote data-quote="Coralin96" data-source="post: 520" data-attributes="member: 15"><p>Next update, enjoy <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite1" alt=":)" title="Smile :)" loading="lazy" data-shortname=":)" /></p><p></p><p>07/04/2018</p><p></p><p><strong>Severe Russia sanctions from the US</strong></p><p></p><ul> <li data-xf-list-type="ul"><strong>The Story: </strong>The US government announced its latest round of sanctions against Russia on Friday. They targeted prominent Russian billionaires, government or state-owned officials and companies. This is the US's toughest sanctions against Russia to date.</li> <li data-xf-list-type="ul"><strong>Impact on law firms: </strong>Many Russian companies have been hit hard, with shares in EN+ falling by 22% in value and Rusal falling 18%. Rusal later released a statement that it is consulting with its legal advisers on the next steps. This follows the alleged Russian attack on a former spy in the UK, and Russian diplomats being expelled from over 20 countries.This is going to affect a range of companies that trade with Russian multinationals, for example EN+, which is listed in London. So depending on how long it lasts companies may be advised to consider finding alternative suppliers. The same applies to other Russian businesses, those with links to the government are concerned that they'll be targeted next, so they may need to consider how much connection they have with the Russian government.</li> </ul><p><strong>Trump escalates trade war</strong></p><ul> <li data-xf-list-type="ul"><strong>The Story: </strong>It didn't take long for Donald Trump to respond to the recent Chinese tariffs. He has called for tariffs on an additional $100bn of Chinese imports.</li> <li data-xf-list-type="ul"><strong>Impact on law firms: </strong>It's clear that Trump won't be the one backing down from this escalating trade war and this suggests it's going to be a long one. Law firms should help businesses to prepare sooner rather than later including those that have the potential to be hit. Some alternative suppliers could adjust their portfolio and use this opportunity to offer their goods locally. The US, EU and Japan also joined the US in a case against China's alleged intellectual property theft at the World Trade Organisation. This puts more importance on the WTO to be able to resolve the dispute or that will significantly affect the future of trade if there limited international enforcement. Financial institutions have had different responses. BNP Paribas noted that there are risks to the Chinese banking system and little to benefit from a trade war. Blackrock said it's an opportunity for negotiations with China. Whilst UBS warned clients about the risk to global growth.</li> </ul><p><strong>Merck announced failure of clinical trial</strong></p><ul> <li data-xf-list-type="ul"><strong>The Story: </strong>Merck, one of the largest pharmaceutical companies in the world, announced the failure of a clinical trial. The trial included an experimental cancer drug from Incyte, a US biotech company, to treat melanoma patients. After the announcement Incyte's shares fell by 22%.</li> <li data-xf-list-type="ul"><strong>The impact on law firms: </strong>Law firms get a significant amount of work from pharmaceutical clients, they have billions to spend on acquisitions develop drugs and therapies. But there is signification competition, which leads to fears that big pharmaceutical companies are spending millions on clinical trials without doing enough research first. Rival companies are also looking to combine drugs in order to improve existing therapies.</li> </ul><p><strong>Europe to tell off Facebook</strong></p><ul> <li data-xf-list-type="ul"><strong>The Story: </strong>The EU justice commission will be speaking with Facebook's COO, Sheryl Sandberg after finding that Facebook's written response "fell short" of their expectations.</li> <li data-xf-list-type="ul"><strong>Impact on law firms: </strong>This is an update to the story and shows the strict stance we have in Europe with data protection laws. It is some of the word's toughest laws, although states are responsible for their own enforcement. Law firms will advise companies to be cautious because the data protection issue is very hot at the moment. There are also concerns because the EU is putting pressure on the US to improve privacy standards, so this threat could also extend to US companies. The EU also want to know how Facebook will comply with the GDPR.</li> </ul><p><strong>Inflation and wage risks to the US economy</strong></p><ul> <li data-xf-list-type="ul"><strong>The Story: </strong>The CEO of JP Morgan released his annual letter this week and commented on the risks of the US economy overheating because of higher inflation and wager. He suggested that the Federal Reserve may have to take 'drastic action' by raising interest rates quicker than anticipated.</li> <li data-xf-list-type="ul"><strong>Impact on law firms: </strong>This one is a mixed bag, the suggestions that there are dangers in the US economy comes from the fact that it is growing too well, almost too fast. This suggests that whilst M&A and banking will be busy, firms need to prepare for the risks that the Federal Reserve does step in an raise interest rates. That could be a problem if lots of companies are borrowing to finance their activities whilst the interest rates are low.</li> </ul></blockquote><p></p>
[QUOTE="Coralin96, post: 520, member: 15"] Next update, enjoy :) 07/04/2018 [B]Severe Russia sanctions from the US[/B] [LIST] [*][B]The Story: [/B]The US government announced its latest round of sanctions against Russia on Friday. They targeted prominent Russian billionaires, government or state-owned officials and companies. This is the US's toughest sanctions against Russia to date. [*][B]Impact on law firms: [/B]Many Russian companies have been hit hard, with shares in EN+ falling by 22% in value and Rusal falling 18%. Rusal later released a statement that it is consulting with its legal advisers on the next steps. This follows the alleged Russian attack on a former spy in the UK, and Russian diplomats being expelled from over 20 countries.This is going to affect a range of companies that trade with Russian multinationals, for example EN+, which is listed in London. So depending on how long it lasts companies may be advised to consider finding alternative suppliers. The same applies to other Russian businesses, those with links to the government are concerned that they'll be targeted next, so they may need to consider how much connection they have with the Russian government. [/LIST] [B]Trump escalates trade war[/B] [LIST] [*][B]The Story: [/B]It didn't take long for Donald Trump to respond to the recent Chinese tariffs. He has called for tariffs on an additional $100bn of Chinese imports. [*][B]Impact on law firms: [/B]It's clear that Trump won't be the one backing down from this escalating trade war and this suggests it's going to be a long one. Law firms should help businesses to prepare sooner rather than later including those that have the potential to be hit. Some alternative suppliers could adjust their portfolio and use this opportunity to offer their goods locally. The US, EU and Japan also joined the US in a case against China's alleged intellectual property theft at the World Trade Organisation. This puts more importance on the WTO to be able to resolve the dispute or that will significantly affect the future of trade if there limited international enforcement. Financial institutions have had different responses. BNP Paribas noted that there are risks to the Chinese banking system and little to benefit from a trade war. Blackrock said it's an opportunity for negotiations with China. Whilst UBS warned clients about the risk to global growth. [/LIST] [B]Merck announced failure of clinical trial[/B] [LIST] [*][B]The Story: [/B]Merck, one of the largest pharmaceutical companies in the world, announced the failure of a clinical trial. The trial included an experimental cancer drug from Incyte, a US biotech company, to treat melanoma patients. After the announcement Incyte's shares fell by 22%. [*][B]The impact on law firms: [/B]Law firms get a significant amount of work from pharmaceutical clients, they have billions to spend on acquisitions develop drugs and therapies. But there is signification competition, which leads to fears that big pharmaceutical companies are spending millions on clinical trials without doing enough research first. Rival companies are also looking to combine drugs in order to improve existing therapies. [/LIST] [B]Europe to tell off Facebook[/B] [LIST] [*][B]The Story: [/B]The EU justice commission will be speaking with Facebook's COO, Sheryl Sandberg after finding that Facebook's written response "fell short" of their expectations. [*][B]Impact on law firms: [/B]This is an update to the story and shows the strict stance we have in Europe with data protection laws. It is some of the word's toughest laws, although states are responsible for their own enforcement. Law firms will advise companies to be cautious because the data protection issue is very hot at the moment. There are also concerns because the EU is putting pressure on the US to improve privacy standards, so this threat could also extend to US companies. The EU also want to know how Facebook will comply with the GDPR. [/LIST] [B]Inflation and wage risks to the US economy[/B] [LIST] [*][B]The Story: [/B]The CEO of JP Morgan released his annual letter this week and commented on the risks of the US economy overheating because of higher inflation and wager. He suggested that the Federal Reserve may have to take 'drastic action' by raising interest rates quicker than anticipated. [*][B]Impact on law firms: [/B]This one is a mixed bag, the suggestions that there are dangers in the US economy comes from the fact that it is growing too well, almost too fast. This suggests that whilst M&A and banking will be busy, firms need to prepare for the risks that the Federal Reserve does step in an raise interest rates. That could be a problem if lots of companies are borrowing to finance their activities whilst the interest rates are low. [/LIST] [/QUOTE]
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