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  1. SEC Charges Audit Firm BF Borgers and Its Owner with Massive Fraud The Securities and Exchange Commission recently charged audit firm BF Borgers CPA PC and its owner, Benjamin F. Borgers (together, “Respondents”), with deliberate and systemic failures to comply with Public Company Accounting Oversight Board (PCAOB) standards in its audits and reviews incorporated in more than 1,500 SEC filings from January 2021 through June 2023. Read
  2. AfDB President Calls For Bold And Innovative Approach’ From Multilateral Development Banks To Tackle Global Challenges Dr Akinwumi Adesina, president of the African Development Bank Group, emphasised the urgent need for a “bold and innovative approach” from Multilateral Development Banks (MDBs) to effectively address the rapidly evolving challenges facing the world. Read
  3. European Commission designates Apple's iPadOS as a "Gatekeeper" under the Digital Markets Act The European Commission has recently designated Apple with respect to iPadOS, its operating system for tablets, as a gatekeeper under the Digital Markets Act (“DMA”). Apple now has six months to ensure full compliance of iPadOS with the DMA obligations. Read
  4. Opioid Manufacturer Endo Health Solutions Inc. Ordered to Pay $1.536B In Criminal Fines Endo Health Solutions Inc. (EHSI) was ordered today to pay $1.086 billion in criminal fines and an additional $450 million in criminal forfeiture — the second-largest set of criminal financial penalties ever levied against a pharmaceutical company —for violations of the Federal Food, Drug and Cosmetic Act related to the distribution of the opioid medication Opana ER with INTAC (Opana ER). Read
  5. Webb Telescope Probably Didn’t Find Life On An Exoplanet — Yet Recent reports of NASA’s James Webb Space Telescope finding signs of life on a distant planet understandably sparked excitement. Read
  6. Large U.S. Military Contracts Awarded on May 3, 2024 The U.S. Defense Department announced new major contracts awarded on May 3, 2024 Read
  7. U.S. Economy Continues to Cool New hires slump in the U.S. to just 175,000 for April, a much-lower-than-expected employment increase last month and the third major indicator in weeks that a broad business slowdown is in the works. Read
  8. Countries Resolve To Leverage Innovation, Promote Digital Inclusion For Those Furthest Behind Governments from across Asia and the Pacific agreed recently to harness technological advancements and digital innovation for sustainable development, with special attention to the region’s most vulnerable countries and population groups. Read
  9. HHS Announces More Than $1.5 Billion State and Tribal Opioid Response Funding Opportunities The Department of Health and Human Services (HHS), through the Substance Abuse and Mental Health Services Administration (SAMHSA), announced the 2024 State Opioid Response (SOR) and Tribal Opioid Response (TOR) Notices of Funding Opportunity, providing up to $1.48 billion to states, territories, and the District of Columbia and $63 million to Tribes to address the overdose crisis in fiscal year 2024. Read
  10. Türkiye Shuts Down All Trade With Israel Over Gaza Humanitarian Aid Restrictions Effective immediately, Türkiye is blockading all ports of access for any trade with Israel. It could immediately threaten Israel’s construction industry. Read
  11. FTC Order Bans Former Pioneer CEO From Exxon Board Seat In Exxon-Pioneer Deal The Federal Trade Commission took action to resolve antitrust concerns surrounding Exxon Mobil Corporation’s (Exxon) $64.5 billion acquisition of oil producer Pioneer Natural Resources by approving a consent order that prevents founder and former Pioneer CEO Scott Sheffield from gaining a seat on Exxon’s board of directors or serving in an advisory capacity at Exxon once it acquires Pioneer. Read
  12. CFPB Highlights the Hidden Costs of Health Savings Accounts The Consumer Financial Protection Bureau (CFPB) recently released a report detailing the complex costs and fees that many consumers with health savings accounts are forced to pay. Read
  13. Hahn Air Lines Agrees to Pay $26.8M to Resolve False Claims Act Liability Hahn Air Lines GmbH, a privately owned company based in Germany, and its Minneapolis-based subsidiary Hahn Air USA Inc. (collectively Hahn Air) have agreed to pay $26.8 million to resolve allegations that Hahn Air violated the False Claims Act by knowingly failing to remit to the United States certain travel fees that Hahn Air collected from commercial airline passengers flying into or within the United States. Read
  14. Large U.S. Military Contracts Awarded on May 2, 2024 The U.S. Defense Department announced new major contracts awarded on May 2, 2024 Read
  15. Funding Available to Electrify Tribal Homes with Clean Energy The Department of the Interior on May 01 announced the availability of $71 million in fundingto help Tribal communities electrify their homes. This investment is a critical step toward the goal of electrifying all homes in Indian Country with clean energy sources. Read
  16. DOE Finalizes Efficiency Standards For Water Heaters The U.S. Department of Energy (DOE) recently finalized Congressionally-mandated energy-efficiency standards for a range of residential water heaters to save American households approximately $7.6 billion per year on their energy and water bills, while significantly cutting energy waste and harmful carbon pollution. Read
  17. Insane House Passes Bizarre Bill Officially Equating Anti-Israel Rhetoric With Antisemitism The House yesterday eagerly passed by a landslide draft legislation which would officially make criticizing the government of Israel an illegal act. Read
  18. BlueSnap to Pay $10M for Credit Card Laundering, Processing Payments for Known Scammer The Federal Trade Commission is taking action against payment processing company BlueSnap, Inc., along with its former CEO Ralph Dangelmaier and senior vice president Terry Monteith, charging them with knowingly processing payments for deceptive and fraudulent companies. Read
  19. European Commission Approves State Aid To Support Construction Of Nuclear Power Plant In Czechia The European Commission has approved, under EU State aid rules, a Czech support measure for the construction and operation of a new nuclear power plant in Dukovany in Czechia. Read
  20. IBM, Governments Sign Agreements To Strengthen Canada's Semiconductor Industry IBM, the Government of Canada, and the Government of Quebec recently announced agreements that will strengthen Canada's semiconductor industry, and further develop the assembly, testing and packaging (ATP) capabilities for semiconductor modules . The agreements reflect a combined investment valued at approximately $187M CAD. Read
  21. MCC, Government Of Kosovo Launches $202 Million Compact for Clean Energy The U.S. Government’s Millennium Challenge Corporation (MCC), and the Government of Kosovo launched the $202 million MCC-Kosovo Compact, a grant focused on delivering modern, clean energy solutions to improve the reliability of electricity in Kosovo. Read
  22. Publication of U.S. Government-Funded Carbon Capture, Utilization, and Storage Handbook for Policymakers In support of the Clean EDGE (Enhancing Development and Growth through Energy) Asia initiative, the Department of State’s Bureau of Energy Resources (ENR) Assistant Secretary Geoffrey R. Pyatt and the Department of Commerce’s Commercial Law Development Program (CLDP) Chief Counsel Stephen Gardner jointly announce the launch of the Carbon Capture, Utilization, and Storage: Handbook for Policymakers. Read
  23. Sodinokibi/REvil Affiliate Sentenced For Role In $700M Ransomware Scheme A Ukrainian national was sentenced today to 13 years and seven months in prison and ordered to pay over $16 million in restitution for his role in conducting over 2,500 ransomware attacks and demanding over $700 million in ransom payments. Read
  24. Large U.S. Military Contracts Awarded on May 01, 2024 The U.S. Defense Department announced new major contracts awarded on May 01, 2024 Read
  25. FTC and FCC Sign MOU on Continued Cooperation on Consumer Protection Issues The Federal Trade Commission and the Federal Communications Commission (FCC) have signed a Memorandum of Understanding (MOU) reiterating the agencies’ ongoing cooperation on consumer protection matters in response to the FCC’s decision last week to restore net neutrality by reclassifying broadband service as a Title II telecommunications service. Read