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The Federal Trade Commission announced the annual revised thresholds for merger notifications under the Hart Scott-Rodino Antitrust Improvements Act of 1976, as amended (“HSR Act”). The thresholds are revised annually based on changes in U.S. gross national product. The FTC also issued its annual revision of the HSR filing fee schedule. The new thresholds (“2025 Thresholds”) will become effective 30 days after publication in the Federal Register. Therefore, if publication occurs this week, the 2025 Thresholds will become effective in mid-February and be in effect until the next annual adjustment in January 2026.

In this Insight, Shy Jackson considers the scope and implications of the parties’ obligation to work together in good faith under the Joint Contracts Tribunal (JCT) 2024 contracts.

The Federal Trade Commission (“FTC”) sent a firm message—unlawful coordination of merging businesses prior to the closing under the Hart-Scott-Rodino Antitrust Improvements (“HSR”) Act will be aggressively enforced. On January 7, 2025, the federal agency secured a record-breaking $5.684 million fine from three oil companies for unlawful coordination—also known as “gun jumping”—in violation of the HSR Act’s mandatory waiting period. The proposed final order, if entered, orders each of the buy side and the sell side to be fined $2.842 million, the largest total gun-jumping penalty in U.S. history.

As we step into the new year, the Hong Kong Government unveiled its ambitious 132-page Development Blueprint for Hong Kong's Tourism Industry 2.0. This comprehensive plan aims to overcome the current challenges posed by economic slowdown, heightened competition, geopolitical tensions and recruitment difficulties. With the collaborative efforts of many stakeholders in implementing the Blueprint, the expected value added by the tourism industry is projected to rise by approximately 60% over the next 5 years, from HK$75.3 billion in 2023 to HK$120 billion. Employment in the sector is also set to rise significantly, with an estimated 44% increase over the same period, bringing the total to approximately 210,000 jobs (up from 145,600 in 2023). The overarching strategy for Hong Kong's tourism development over the next five years is to solidify its status as a world-class premier tourist destination. The Government will be implementing the following four key strategies to achieve this goal: promoting tourism through culture, sports, ecology, and mega events; attracting and broadening the inbound visitor market from a more diverse range of geographies; advancing smarter tourism; and enhancing service quality and infrastructure. The highlights of each strategy will be briefly summarized below.

The UK government has launched a consultation to reform the Energy Performance of Buildings (EPB) regime, a crucial step towards achieving the nation’s ambitious net-zero targets by 2050. This extensive consultation, which runs until 26 February 2025, seeks to gather input on several key areas of the EPB framework. Here, we delve into the background leading up to this consultation, the key areas being consulted on, and likely next steps.