Businesses

China’s New State Secrets Law Sparks Concerns for Foreign Businesses Operating in the Country

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BEIJING, CHINA – China has passed new rules that will broaden the scope of what can be classified as a state secret, raising concerns about transparency and potential liabilities. The updated state secrets law, set to take effect on May 1, includes a provision that extends precautions for state secrets to also cover unclassified information known as work secrets. The definition of work secrets encompasses information that could have an “adverse impact” if leaked. However, critics argue that the definition is vague and open to abuse, potentially limiting the public’s right to information. Jeremy Daum, … Read more

Vellayan Subbiah Receives Prestigious EY Entrepreneur of the Year™ Award 2023 for Transforming Businesses with Bold Strategies

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Mumbai, India – Vellayan Subbiah, Chairman of Cholamandalam Finance and Executive Vice Chairman of Tube Investments of India, has been honored with the prestigious EY Entrepreneur of the Year™ Award 2023 (EOY) for his outstanding entrepreneurial achievements. The award recognizes Subbiah’s bold strategies in transforming existing businesses and seizing new opportunities through acquisitions and diversification. Under his leadership, Subbiah’s group companies experienced unprecedented growth and achieved a remarkable four-fold increase in shareholder value in just three years. Selected by a nine-member independent jury led by K V Kamath, former Chairman of ICICI Bank, Subbiah’s entrepreneurial … Read more

Insurance Recovery Expert Reveals 3 Tips for Businesses to Navigate a Challenging Property Insurance Market

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New Jersey, USA – Eric Jesse, a partner in Lowenstein Sandler’s Insurance Recovery Group, provides insights into the current state of the property insurance market and offers three tips for companies to make their commercial properties more appealing to insurers. Commercial property insurance is a vital coverage for businesses as it safeguards their buildings, structures, and the property and equipment within them. It also typically covers lost business income resulting from covered events. During the COVID-19 pandemic, the importance of this coverage became evident when businesses faced closures and restrictions. The property insurance market is … Read more

Trump Fined $354 Million and Banned from NY for 3 Years – Judge Leaves His Empire Intact, Pending Investigations into Individual Businesses

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NEW YORK – Former President Donald Trump has been banned from conducting business in New York for a period of three years and has been ordered to pay a fine of $354 million for providing false information about his wealth. Nevertheless, a crucial aspect was conspicuously absent from the judge’s ruling – a directive to dissolve all of Trump’s companies in the state. In a surprising turn of events, Justice Arthur Engoron backed down from his initial ruling in the civil fraud case, issued punishments, and left Trump’s control over his extensive New York empire … Read more