Arms Trafficker Convicted in Anti-Aircraft Missiles Scheme and Other Arms Offenses Sentenced to 30 Years in Federal Prison

A black-market arms dealer with a long history of brokering machine guns, rocket-propelled grenades and anti-tank armaments – and who was found guilty last year in a scheme to sell and use surface-to-air missiles – was sentenced yesterday to 30 years in federal prison. Rami Najm Asad-Ghanem, 53, who was commonly known as Rami Ghanem, … Read moreArms Trafficker Convicted in Anti-Aircraft Missiles Scheme and Other Arms Offenses Sentenced to 30 Years in Federal Prison

American Airlines Inc. Agrees To Pay $22 Million to Settle False Claims Act Allegations for Falsely Reporting Delivery Times of U.S. Mail Transported Internationally

The Justice Department announced today that American Airlines Inc. has agreed to pay approximately $22.1 million to resolve its alleged liability under the False Claims Act for falsely reporting the times it transferred possession of United States mail to foreign postal administrations or other intended recipients under contracts with the United States Postal Service (USPS). … Read moreAmerican Airlines Inc. Agrees To Pay $22 Million to Settle False Claims Act Allegations for Falsely Reporting Delivery Times of U.S. Mail Transported Internationally

Precious Metals Trader Pleads Guilty to Conspiracy and Spoofing Charges

A former precious metals trader at the London, Singapore and New York offices of a U.S. bank (Bank A) pleaded guilty today to conspiracy and spoofing charges, announced Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal Division and Assistant Director in Charge William F. Sweeney Jr. of the FBI’s New York Field … Read morePrecious Metals Trader Pleads Guilty to Conspiracy and Spoofing Charges

Justice Department Sues to Block Sabre’s Acquisition of Farelogix

The Department of Justice filed a civil antitrust lawsuit today seeking to block Sabre Corporation’s $360 million acquisition of Farelogix, Inc. The Department said that Sabre and Farelogix compete head-to-head to provide booking services to airlines. Booking services are IT solutions that allow airlines to sell tickets and ancillary products through traditional brick-and-mortar and online … Read moreJustice Department Sues to Block Sabre’s Acquisition of Farelogix

Former CEO of Virginia-Based Defense Contractor Agrees to Pay $20 Million to Settle False Claims Act Allegations Related to Fraudulent Procurement of Small Business Contracts

Luke Hillier, the majority owner and former Chief Executive Officer of Virginia-based defense contractor ADS, Inc., has agreed to pay the United States $20 million to settle allegations that he violated the False Claims Act by fraudulently obtaining federal set-aside contracts reserved for small businesses that his company was ineligible to receive, the Department of … Read moreFormer CEO of Virginia-Based Defense Contractor Agrees to Pay $20 Million to Settle False Claims Act Allegations Related to Fraudulent Procurement of Small Business Contracts

International Law Enforcement Cooperation Leads to Brazilian Takedown of Significant Human Smugglers

Earlier today, extensive coordination and cooperation efforts between United States and Brazilian law enforcement and prosecution authorities culminated in the Brazil Federal Police (DPF) conducting a significant enforcement operation to disrupt and dismantle a transnational criminal organization. The human smuggling organization targeted is alleged to be responsible for the illicit smuggling of scores of individuals … Read moreInternational Law Enforcement Cooperation Leads to Brazilian Takedown of Significant Human Smugglers

Agency Information Collection Activities; Submission for OMB Review; Comment Request; Trade Adjustment Assistance Program Reserve Funding Request

The Department of Labor (DOL) is submitting the Employment and Training Administration (ETA) sponsored information collection request (ICR) revision titled, “Trade Adjustment Assistance Program Reserve Funding Request,” to the Office of Management and Budget (OMB) for review and approval for use in accordance with the Paperwork Reduction Act (PRA) of 1995. Public comments on the … Read moreAgency Information Collection Activities; Submission for OMB Review; Comment Request; Trade Adjustment Assistance Program Reserve Funding Request

RBA Minutes – Global Risks Rising

International Economic Conditions The RBA released their minutes from their last meeting today. What is clear now is the a weakening global economic outlook may make them cut again, not just a weaker labour market – a significant shift, which actually gives them a paper thin alibi in terms of plausible deniability for bad policy! … Read moreRBA Minutes – Global Risks Rising

In breather to auto firms, govt to go slow on e-vehicle push

The government is likely to go slow on pushing electric mobility for the next few months, arguing that it has to be sympathetic to the slowdown in the auto industry. The proposal to ban the sale of internal combustion engine (ICE) three-wheelers after 2023 and two-wheelers of engine capacity up to 150cc is also not … Read moreIn breather to auto firms, govt to go slow on e-vehicle push

Borrowers to gain as RBI to tell banks to link loans with repo rate

Unhappy with the pace of transmission of interest rate cuts, the Reserve Bank of India plans to direct banks to start providing loans linked to an external benchmark like the repo (rate at which the RBI lends money to banks). RBI governor Shaktikanta Das said that some banks have already announced their intent to link … Read moreBorrowers to gain as RBI to tell banks to link loans with repo rate

APRA Strengthens Rules to Combat Contagion Risk Within Banking Groups (Eventually)

The Australian Prudential Regulation Authority (APRA) has released a strengthened prudential standard aimed at mitigating contagion risk within banking groups. The new rules will come in from 1 January 2021. Until then the 100 or so such operations within a small number of ADIs will remain obscured, with potential higher risks exposure in a down … Read moreAPRA Strengthens Rules to Combat Contagion Risk Within Banking Groups (Eventually)

Cudos To The ABC, They Finally Covered The Cash Ban!

The ABC have written a piece on the proposed cash restrictions (even if it was after the closing date for submissions to Treasury relating to the exposure draft). It appears opposition is mounting, given they cite One Nation, CPA Australia, The Institute of Public Affairs and The Australian Chamber of Commerce. However, Chartered Accountants Australia … Read moreCudos To The ABC, They Finally Covered The Cash Ban!

The Fall Out from The ASIC-Westpac HEM Case

Last week the Judge delivered his verdict in the ASIC-Westpac HEM case, essentially because of the ~260,000 loans examined in the case less than 5,000 would have potentially had their loans tweaked lower if the HEM was not used, whereas the bulk of the loans would have been bigger if HEM was not utilised in … Read moreThe Fall Out from The ASIC-Westpac HEM Case

Banking Royal Commission Implementation Plan Revealed

The Treasurer has now (finally) released the proposed timetable for implementation of the recommendations from the Royal Commission made back in February. It is entitled “Restoring Trust In Australia’s Financial System”, but of course the big question is, will these measures once implemented really get to the heart of the issue – we doubt it. … Read moreBanking Royal Commission Implementation Plan Revealed

CORRECTED: U.S. Department of Labor Invites Stakeholders to an Online Dialogue On Supporting Nursing Mothers in the Workplace

WASHINGTON, DC – The U.S. Department of Labor is hosting an online dialogue to help employers and nursing mothers understand their rights and responsibilities under the law. The Supporting Nursing Mothers in the Workplace dialogue will also solicit best practices to educate nursing mothers about key protections of the Fair Labor Standards Act. Employers, nursing … Read moreCORRECTED: U.S. Department of Labor Invites Stakeholders to an Online Dialogue On Supporting Nursing Mothers in the Workplace

U.S. Department of Labor Announces Job Corps Contracting Reform

WASHINGTON, DC – The U.S. Department of Labor announced the release of the first solicitation under the new firm-fixed price approach to procuring Job Corps center operations on Federal Business Opportunities at https://www.fbo.gov/index?s=opportunity&mode=form&id=8ebcfadd06ee5319297bd729f8ed447f&tab=core&_cview=0. The vast majority of Job Corps centers are operated through contracts awarded on a competitive basis to private business operators. The Department … Read moreU.S. Department of Labor Announces Job Corps Contracting Reform

Unemployment Insurance Weekly Claims Report

In the week ending August 10, the advance figure for seasonally adjusted initial claims was 220,000, an increase of 9,000 from the previous week’s revised level. The previous week’s level was revised up by 2,000 from 209,000 to 211,000. The 4-week moving average was 213,750, an increase of 1,000 from the previous week’s revised average. … Read moreUnemployment Insurance Weekly Claims Report

U.S. Department of Labor Proposes a Rule Clarifying Civil Rights Protections for Religious Organizations

WASHINGTON, DC – The U.S. Department of Labor’s Office of Federal Contract Compliance Programs (OFCCP) announced a Notice of Proposed Rulemaking intended to clarify the civil rights protections afforded to religious organizations that contract with the federal government. The proposed rule ensures that conscience and religious freedom are given the broadest protection permitted by law. … Read moreU.S. Department of Labor Proposes a Rule Clarifying Civil Rights Protections for Religious Organizations

Federal Contractor Agrees to Pay $175,000 To Settle Alleged Hiring Discrimination

PORTLAND, OR – The U.S. Department of Labor’s Office of Federal Contract Compliance Programs (OFCCP) and Conduent Commercial Solutions LLC – formerly CSG Xerox World – have entered into a conciliation agreement by which the federal contractor has agreed to pay $175,000 in back wages to resolve claims of systemic hiring discrimination at its Portland, … Read moreFederal Contractor Agrees to Pay $175,000 To Settle Alleged Hiring Discrimination

U.S. Department of Labor Launches Online Help Desk to Provide Compliance Assistance to Federal Contractors and Stakeholders

WASHINGTON, DC – Today, the U.S. Department of Labor’s Office of Federal Contract Compliance Programs (OFCCP) launched the Contractor Assistance Portal, an online help desk to provide enhanced compliance assistance to federal contractors and stakeholders. The virtual online helpdesk is part of a broad push by the U.S. Department of Labor to provide innovative compliance … Read moreU.S. Department of Labor Launches Online Help Desk to Provide Compliance Assistance to Federal Contractors and Stakeholders

U.S. Department of Labor Awards $2 Million to Cornell University To Help Increase Employment Among Individuals with Disabilities

WASHINGTON, DC – The U.S. Department of Labor’s Office of Disability Employment Policy (ODEP) has announced the awarding of $2 million to Cornell University in Ithaca, New York, for the first year of a 4-year cooperative agreement to operate an employer-focused disability policy development and technical assistance center. This center will build upon the prior work … Read moreU.S. Department of Labor Awards $2 Million to Cornell University To Help Increase Employment Among Individuals with Disabilities

New U.S. Department of Labor Guidance Helps Employers Manage Pension Obligations for Uniformed Service Members Returning To Work

WASHINGTON, DC – The U.S. Department of Labor’s Veterans Employment and Training Services (VETS) has released a fact sheet to help employers better understand their responsibilities toward reemployed service members under the pension provisions of the Uniform Services Employment and Reemployment Rights Act (USERRA) and related regulations. USERRA requires that returning service members, on reemployment, be … Read moreNew U.S. Department of Labor Guidance Helps Employers Manage Pension Obligations for Uniformed Service Members Returning To Work

CORRECTED: U.S. Department of Labor Announces New Ombudsman For Federal Contract Compliance Programs

WASHINGTON, DC – The U.S. Department of Labor has announced the appointment of the Department’s Office of Federal Contract Compliance Programs (OFCCP) Ombudsman, Marcus Stergio. OFCCP first announced its plan to implement an Ombudsman in September 2018 in Directive (DIR 2018-09). The Ombudsman will work with a variety of OFCCP stakeholders nationwide, including federal contractors and … Read moreCORRECTED: U.S. Department of Labor Announces New Ombudsman For Federal Contract Compliance Programs

Unemployment Insurance Weekly Claims Report

In the week ending August 3, the advance figure for seasonally adjusted initial claims was 209,000, a decrease of 8,000 from the previous week’s revised level. The previous week’s level was revised up by 2,000 from 215,000 to 217,000. The 4-week moving average was 212,250, an increase of 250 from the previous week’s revised average. … Read moreUnemployment Insurance Weekly Claims Report

Credit has to expand 18-20% for India to become $5 trillion economy

As per industry leaders, achieving the government target of making India a $5-trillion dollar economy by 2024 from around $2.7 trillion at present would require annual credit growth in the range of 18-20%. This kind of growth was last seen following the stimulus in FY11 when bank credit grew 21.5%. As on August 2, the … Read moreCredit has to expand 18-20% for India to become $5 trillion economy

Why Americans Should Want Less Foreign Investment

Editor’s note: Matt Klein of Barrons doubles down in supporting the Baldwin/Hawley market access charge bill that CPA helped generate.   In last week’s column I discussed an intriguing idea to have the Federal Reserve move the U.S. current account into balance by levying a “market access charge” on foreign purchases of American assets. Some … Read moreWhy Americans Should Want Less Foreign Investment

Building Industry Needs Urgent Reform

Australia’s apartment sector is reaping the costs of a “poorly oversighted industry with a lack of competence and, in some cases, a lack of integrity”, says the author of a landmark report into Australia’s building industry. From The New Daily And ABC. Bronwyn Weir has told an ABC Four Corners special investigation into the apartment … Read moreBuilding Industry Needs Urgent Reform