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Commercial Awareness Discussion
Commercial News Update - March 2018
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<blockquote data-quote="Coralin96" data-source="post: 388" data-attributes="member: 15"><p>Next update 22/03/2018</p><ol> <li data-xf-list-type="ol"><strong>Facebook's problems grow</strong></li> </ol> <ul> <li data-xf-list-type="ul"><strong>The story: </strong>Facebook is facing multiple investigations including from the FTC, a US regulator. Facebook had an agreement with the FTC in 2011 about how it will deal with data and privacy. If this Cambridge Analytics scandal breaches it, then the FTC has the reported power to fine the company $40,000 per user! Mark Zuckerberg, Facebook's founder and CEO said he will also testify. The Cambridge Psychometrics Centre was the original centre who did the study that found you could work out people's psychological profies based on their social media accounts. The original company that created the app had 270,000 users sign up, but because of a flaw in Facebook that allowed you to access your friends data they had information on 50 million people. Channel 4 also did an undercover investigatino where the CEO of Cambridge Analytica mentioned bribery of politicians and spreading fake news. Facebook's share price fell 12% after the scandal was announced wiping of $40bn from the company's value. Mark promised to restrict developer access to data if the app isn't used for 3 months and to investigate companies that had access to lots of data before Facebook's 2014 policy change.</li> <li data-xf-list-type="ul"><strong>Impact on law firms: </strong>There are increasing concerns over how personal data is being used to influence behaviours. This could lead to more regulation which could face social media companies or even wider - on supermarkets that store shopping data using discount cards. They'll need help from law firms to comply with the regulation. Companies already will need lots of help to comply with the GDPR and if Facebook still doesn't fix it, they will be vulnerable under that EU regulation which can fine companies a huge amount.</li> </ul><p>2. <strong>Amazon becomes second most valuable company</strong></p><ul> <li data-xf-list-type="ul"><strong>The story: </strong>Amazon became the most valuable company early this week beating Alphabet, Google's parent company who was in second place and sitting just after Apple. Amazon has had a good year with its acquisition of Whole Food and its share value has risen 80% during that time.</li> <li data-xf-list-type="ul"><strong>Impact on law firms: </strong>Google suffered after the Facebook data scandal because investors are concerned that regulation will be introduced on companies that extract personal data. This would impact their profits because it'll affect things like advertising. It could also extend to companies like supermarkets where data is used on discount cards to see how you show.</li> </ul><p>3. <strong>Fed cautious over interest rates</strong></p><ul> <li data-xf-list-type="ul"><strong>The story: </strong>The new Chairman of the Federal Reserve, Jerome Powell, had his first official meeting yesterday and signalled a cautious approach to rising interest rates. He said he would follow the gradual approach undertaken by Janet Yallen, the former Fed governor. He did raise the Fed target rate and long-term interest rates but that seems to be expected.</li> <li data-xf-list-type="ul"><strong>The impact on law firms: </strong>The US economy is doing really well, unemployment is down, US growth and business confidence is up. It's a good sign for law firms which have access to the US and any firms which have recently merged to get a presence there. Interest rates shouldn't be a huge problem for businesses if there continues to be a gradual increase but it might stop companies borrowing less.</li> </ul><p>4. <strong>Trump's tariffs against China</strong></p><ul> <li data-xf-list-type="ul"><strong>The Story: </strong>It has been reported that the US will propose tariffs against Chinese imports of at least $30bn in value. This is a move to put pressure on China against alleged intellectual property theft.</li> <li data-xf-list-type="ul"><strong>The Impact on law firms: </strong>China are likely to retaliate and this could be a big mess for companies trading between the US and China or relying on imports from one of the countries. Law firms may need to advise companies and negotiate terms that helps them if this does escalate.</li> </ul><p>5. <strong>Global dealmaking passed $1 trillion at fastest pace</strong></p><ul> <li data-xf-list-type="ul"><strong>The Story: </strong>In a signal of how well M&A is doing globally, the total value of deals passed $1 trillion in record time. In the UK and Japan M&A dealmaking volume is double last year and in Germany four times as much. Value is also up a lot in a sign that private equity firms are confident to do bigger deals.</li> <li data-xf-list-type="ul"><strong>The impact on law firms: </strong>M&A and private equity teams are going to be really busy as it looks to reach record levels this year. Firms may bulk up their teams by external hires and expand themselves to make the most of it.</li> </ul></blockquote><p></p>
[QUOTE="Coralin96, post: 388, member: 15"] Next update 22/03/2018 [LIST=1] [*][B]Facebook's problems grow[/B] [/LIST] [LIST] [*][B]The story: [/B]Facebook is facing multiple investigations including from the FTC, a US regulator. Facebook had an agreement with the FTC in 2011 about how it will deal with data and privacy. If this Cambridge Analytics scandal breaches it, then the FTC has the reported power to fine the company $40,000 per user! Mark Zuckerberg, Facebook's founder and CEO said he will also testify. The Cambridge Psychometrics Centre was the original centre who did the study that found you could work out people's psychological profies based on their social media accounts. The original company that created the app had 270,000 users sign up, but because of a flaw in Facebook that allowed you to access your friends data they had information on 50 million people. Channel 4 also did an undercover investigatino where the CEO of Cambridge Analytica mentioned bribery of politicians and spreading fake news. Facebook's share price fell 12% after the scandal was announced wiping of $40bn from the company's value. Mark promised to restrict developer access to data if the app isn't used for 3 months and to investigate companies that had access to lots of data before Facebook's 2014 policy change. [*][B]Impact on law firms: [/B]There are increasing concerns over how personal data is being used to influence behaviours. This could lead to more regulation which could face social media companies or even wider - on supermarkets that store shopping data using discount cards. They'll need help from law firms to comply with the regulation. Companies already will need lots of help to comply with the GDPR and if Facebook still doesn't fix it, they will be vulnerable under that EU regulation which can fine companies a huge amount. [/LIST] 2. [B]Amazon becomes second most valuable company[/B] [LIST] [*][B]The story: [/B]Amazon became the most valuable company early this week beating Alphabet, Google's parent company who was in second place and sitting just after Apple. Amazon has had a good year with its acquisition of Whole Food and its share value has risen 80% during that time. [*][B]Impact on law firms: [/B]Google suffered after the Facebook data scandal because investors are concerned that regulation will be introduced on companies that extract personal data. This would impact their profits because it'll affect things like advertising. It could also extend to companies like supermarkets where data is used on discount cards to see how you show. [/LIST] 3. [B]Fed cautious over interest rates[/B] [LIST] [*][B]The story: [/B]The new Chairman of the Federal Reserve, Jerome Powell, had his first official meeting yesterday and signalled a cautious approach to rising interest rates. He said he would follow the gradual approach undertaken by Janet Yallen, the former Fed governor. He did raise the Fed target rate and long-term interest rates but that seems to be expected. [*][B]The impact on law firms: [/B]The US economy is doing really well, unemployment is down, US growth and business confidence is up. It's a good sign for law firms which have access to the US and any firms which have recently merged to get a presence there. Interest rates shouldn't be a huge problem for businesses if there continues to be a gradual increase but it might stop companies borrowing less. [/LIST] 4. [B]Trump's tariffs against China[/B] [LIST] [*][B]The Story: [/B]It has been reported that the US will propose tariffs against Chinese imports of at least $30bn in value. This is a move to put pressure on China against alleged intellectual property theft. [*][B]The Impact on law firms: [/B]China are likely to retaliate and this could be a big mess for companies trading between the US and China or relying on imports from one of the countries. Law firms may need to advise companies and negotiate terms that helps them if this does escalate. [/LIST] 5. [B]Global dealmaking passed $1 trillion at fastest pace[/B] [LIST] [*][B]The Story: [/B]In a signal of how well M&A is doing globally, the total value of deals passed $1 trillion in record time. In the UK and Japan M&A dealmaking volume is double last year and in Germany four times as much. Value is also up a lot in a sign that private equity firms are confident to do bigger deals. [*][B]The impact on law firms: [/B]M&A and private equity teams are going to be really busy as it looks to reach record levels this year. Firms may bulk up their teams by external hires and expand themselves to make the most of it. [/LIST] [/QUOTE]
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