Several US-based civil law firms, including Morrison Foerster, Perkins Coie, Sidley Austin, and Weil, Gotshal & Manges, have closed their offices in China due to slowing investments by American corporate clients and increased competition from local firms. This trend follows a report in July that six US law firms were also scaling back their presence in China. The move reflects a broader trend of US firms reevaluating their strategies in response to changing market conditions in China.
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Musk takes control of US Treasury payments systems – sparking alarm among critics
Elon Musk's aides have taken control of the US Treasury Department's payments system, managing trillions of dollars in transactions annually, causing concern among critics. Musk, leading federal cost-cutting efforts under the "Department of Government Efficiency," claimed to be rooting out corruption and waste. The Treasury's payments system, crucial for handling government funds, was approved for Musk's control by incoming Treasury Secretary Scott Bessent after a career official was placed on leave for refusing access. Full...
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