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Legal & Regulatory

Medical marijuana

Legal marijuana products should come with warnings according to AMA

The American Medical Association (AMA) is pushing for new regulations that require some warning signs about the potential hazard of marijuana use during pregnancy and breastfeeding to be written on legal marijuana products. The regulation was set based on studies that suggest marijuana use may be linked with low birth weight, premature birth and behaviour problems in young children.

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Labor-related protest

Cuomo increases Basic Minimum Wage for NY State Workers to $15 an hour

Governor Andrew M. Cuomo announced Tuesday that he would increase minimum wage to $15 for all state workers in New York. According to The New York Times this minimum wage hike makes the New York the first state to put the pay this high for the public employees.

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Nestlé's Maggi Noodle Makes A Happy Return To Indian Shelves This Diwali After Successful Testing

Maggi Noodles - the instant Chinese fare created by Nestle and loved the world over especially in India, Singapore and Malaysia and other parts of the globe was beset by a scandalous allegation that their Maggi Noodles in India contained MSG with lead levels going beyond permitted limits.

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Toshiba sues three former CEOs amid accounting scandal

Japan Electronics company Toshiba Inc has sued five former executives including three former Chief Executive Officers for huge losses on the biggest accounting scandal in Japanese corporates.

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Merck, Eli Lilly Probed for Alleged Drug over Pricing

The Justice Department launched an investigation on drug makers Merck & Co, Valeant Pharmaceuticals International, and Eli Lilly & Co for alleged over pricing. The Wall Street Journal reported that the US Attorney's office in Eastern District of Pennsylvania, along with the Justice Department's civil division set a probe on Merck, Eli Lilly, and Valeant on how these drug makers calculate and report their product pricing to the government medical rebate program.

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Increased Marijuana Tax Will Shoulder College Education

High school graduates in Pueblo County, Colorado will get college scholarship from increased tax on marijuana growers by 2017. A CNN report shows that 60 percent of Voters in the county approved Tuesday a measure that will increase taxes on marijuana growers by 5 percent in the year 2020.

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Apple iPhones

Apple Could Stop Selling iPhone in the UK if Government Passes Bill Banning Encryption

The UK government is trying to pass a bill that would ban strong end-to-end encryption that could force Apple to stop selling its iPhone in that country. According to Forbes, the UK government plans to pass legislation that would prohibit the use of strong encryption, which means any encryption they can't break is not allowed.

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Richard Blumenthal

U.S. fines Takata $70 million, bans ammonium nitrate in its air bags

The National Highway Traffic Safety Administration fined air-bag supplier Takata Corp for $70 million and is ordered to stop manufacturing inflators that has ammonium nitrate.

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Margrethe Vestager

European antitrust launches in-depth probe on Hutchison's $14 Billion offer for Telefonica's 02

Europe's major antitrust regulator has opened an "in-depth investigation" on Hutchison's $14 billion acquisition of Telefonica UK's O2 operations. According to The Wall Street Journal, top European Union officials have been warning that mobile-phone mergers in concentrated markets can lead to higher prices and less options for consumers.

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Federal Reserve

Fed wants to shield taxpayers when banks go down

The Federal Reserve is implementing new rule especially in a bid to strengthen the global financial institutions. According to the proposal, all banks that operate in the US will be able to go down smoothly without causing too much collateral damage to the public.

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Task force for recreational drone registration convenes

A task force charged with recommending rules for registering recreational drones or unmanned aerial vehicles convenes this Tuesday. The group composed of more than 20 people will be holding meetings until November 5.

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Wal-Mart requested approval from FAA for drone use

Wal-Mart had applied to U.S. regulators for the permission to test drones for checking inventories, home delivery, and pickup. Rumors said the company's move is to compete with Amazon's drone delivery.

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European Commission Rules Starbucks' and Fiat's Tax Deals with Dutch and Luxembourg Tax Authorities Illegal - Ordering Both Companies To Pay Millions of Euro in Back Taxes

The European Commission ruled on Wednesday that Starbucks Corp and Fiat Chrysler Automobiles benefited from illegal tax deals with the Dutch and Luxembourg authorities, sending shock waves to MNCs who have been using such profit-shielding tax deals in the past.

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Union Jack and Saltire flags

FCA Bans Weaving Capital founder Peterson From U.K. Finance Industry As Closure to a Big Scandal

The Financial Conduct Authority banned Weaving Capital (UK) Ltd. Founder Magnus Peterson from working in the financial industry as part of a closure in one of the biggest scandals in the country.

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Globo’s CEO and CFO resign amid falsification charges

Greek tech company Globo Plc said that its Chief Executive Officer Costis Papadimitrakopoulos and Chief Financial Officer Dimitris Gryparis have resigned after they disclosed falsified financial data at the company.

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