SEOUL, South Korea—North Korean leader Kim Jong Un’s disclosure of his daughter in recent public events was likely an attempt to show his people that one of his children would one day inherit his power in what would be the regime’s third hereditary power transfer, South Korea’s spy service told lawmakers Thursday. Kim publicly took…
US Maritime Liability Rules Changed After 2019 Boat Fire
LOS ANGELES—Federal lawmakers have changed 19th-century maritime liability rules for accident victims and their families in response to the 2019 boat fire off the coast of Southern California that killed 34 people. The Small Passenger Vessel Liability Fairness Act was included in the $858 billion defense spending bill that President Joe Biden signed Friday. It…
IRS Halts Controversial New Rule Requiring Reporting of $600 Payments
The Internal Revenue Service (IRS) on Friday announced it would delay a rule that would have required tens of millions of Americans who received payments of at least $600 to report their earnings, following widespread confusion and angst about the new requirements. Under the 2021 American Rescue Plan, anyone who earned $600 via platforms like…
Wizz Air Urges EU to Keep ‘Use It or Lose It’ Airport Slot Rule
January 14, 2022
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Europe’s airport slot rules should not be changed to protect legacy airlines, the head of European low cost carrier Wizz Air said on Thursday, adding that if a company could not operate its slots they should be made available to rivals. An easing of the “use it or lose it” rule has allowed legacy carriers…
US SEC to Tighten Insider Trading Rules, Boost Money Market Fund Resilience
WASHINGTON—The U.S. Securities and Exchange Commission (SEC) on Wednesday proposed tightening a legal safe-harbor that allows corporate insiders to trade in a company’s shares, and other rules to improve the resilience of money market funds. The agency also unveiled measures to increase transparency around share buybacks and the complex derivatives at the center of New…
White House Meets US Chamber of Commerce, Other Industry Groups on Vaccine Rule
October 16, 2021
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WASHINGTON—Several influential industry groups, including the U.S. Chamber of Commerce, met White House officials on Friday and raised concerns about labor shortages and coronavirus testing requirements as the administration races to implement a plan to require private-sector workers to be vaccinated against COVID-19. The Office of Management & Budget (OMB) conducted the meetings virtually, with…
Exclusive: Aerospace Firms Warn of Snags Over US Engine Rule Delays
Aerospace companies are urging the United States to speed up a review of rule changes for airplane engines, warning delays in implementing planned global emissions standards could trigger industrial delays. The warning from the U.S. Aerospace Industries Association (AIA) comes as aerospace firms are more exposed to unexpected regulatory or economic hiccups following the COVID-19…
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