Norris McLaughlin & Marcus, P.A.

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Business Without Borders

Dec 18, 2015

REWIND: International Business News #109

This week, in the REWIND of international business news, we look at a social media shutdown in Brazil, plunging currency in Argentina, a U.S. business’s effort to sell taser guns in Europe, ivory smuggling uncovered in Singapore, and concerns over a Chinese website peddling counterfeit goods

  • A nationwide shutdown of WhatsApp put Brazil’s voracious social media users into a tailspin.  WhatsApp was unable to comply with a judicial order to put a wiretap on certain accounts, which it could not do because it does not store messages sent on its service, and its message are encrypted so that no one, including WhatsApp personnel, can intercept or read them.  
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Dec 16, 2015

The Fed Finally Moves – A 0.25% Interest Rate Hike

Fed Chair Janet Yellen announced this afternoon the much anticipated increase in its benchmark interest rate from zero to 0.25%. While many of the US economic sectors have improved, the Fed has been concerned about the low inflation rate. Notwithstanding that concern, the Fed unanimously agreed to the rate hike, noting in its policy statement that “the Committee judges that there has been considerable improvement in labor market conditions this year, and it is reasonably confident that inflation will rise over the medium term to its 2 percent objective.”

The increase in the Fed’s benchmark rate ends its quantitative easing program that has been going on for the better part of a decade.» Read More

Dec 09, 2015

FASB and International Accounting Standards Board Provide Breathing Room to CFOs

2016 will require CFOs to address changes in accounting standards both in the US and for companies engaged in international commerce. The rules regarding Revenue Recognition, Lease Accounting, Insurance Contracts and Corporate Tax are on tap for CFOs to address in 2016 and 2017.

With respect to Revenue Recognition, the Wall Street Journal reported on Tuesday, December 7 that “CFOs received some breathing room when the Financial Accounting Standards Board disclosed it would allow companies to wait until 2018—instead of 2017—to adopt rules governing how they account for deferred revenue from everything from cellphone contracts to car sales to software.» Read More

Oct 19, 2015

REWIND: International Business News #107

In this past week’s REWIND of international business news:

Wading through the weeds in Amazon reviews

Amazon continues to protect the integrity of product reviews on its site.  In a new bid to eliminate false reviews, Amazon filed suit against individuals offering false reviews.  Amazon hopes that direct suits against individuals, rather than the marketplace where they advertise their services, are likely to be more of a deterrent.» Read More

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