Big Law firms with telecommunications, media and technology (TMT) practices are pulling out of Russia, and whether they will return after the end of Russia's Ukraine invasion is questionable. Some see the one-two punch of Ukraine and the COVID-19 pandemic making it less likely Big Law will return someday. Several TMT companies are also opting to end or limit their Russian presence.
Big Law firms with telecommunications, media and technology (TMT) practices are pulling out of Russia, and whether they will return after the end of Russia's Ukraine invasion is questionable. Some see the one-two punch of Ukraine and the COVID-19 pandemic making it less likely Big Law will return someday. Several TMT companies are also opting to end or limit their Russian presence.
Industry disagreed whether the FCC should pause some of its high-cost Universal Service Fund programs amid the recent $65 billion federal broadband support from the Infrastructure Investment and Jobs Act, in reply comments posted Friday in docket 21-476 (see 2202180046). Others debated whether to expand the fund's contribution base or turn to direct congressional appropriations. The FCC sought comments on USF's future as part of its report to Congress due by Aug. 12.
The FCC asked the 9th U.S. Circuit Court of Appeals to extend abeyance on a lawsuit by the League of California Cities challenging the FCC’s June 2020 wireless infrastructure declaratory ruling (see 2111160048). “Further abeyance will provide an opportunity for a fully-constituted Commission to consider how to proceed in this case,” the commission wrote Tuesday in case 20-71765. The FCC noted a full Senate vote to confirm Gigi Sohn as commissioner hasn’t been scheduled.
The Commerce Department hasn't granted a steel or aluminum tariff exclusion since Dec. 17, 2021, and its last denial was posted Oct. 29, 2021. A lobbyist in the trade world said he has unsuccessfully tried to get to the bottom of why the Bureau of Industry and Security doesn't seem to be processing the applications at the moment. He said the Commerce Department told one office on Capitol Hill "there is no problem" and "that it's all functioning normally."
Nvidia thinks it has fared better than others navigating the chip crunch because it “realized quite quickly that this would be a supply-constrained world and that it would be with us for many years,” Chief Financial Officer Colette Kress told a Morgan Stanley investment conference Monday. “Our initial onset of thinking through our supply chain started very early in that COVID period of time,” she said. “Our focus was not just about the next quarters out, but we stopped and paused to think about what it would mean for years in the future.” Nvidia has “already procured what we need” for 2022, “and we have also engaged in procurement for things for the long term,” involving anything “from wafers to substrates,” she said. Nvidia expects that supply will improve “each quarter of this year,” she said.
NXP Semiconductors employs about 100 engineers "based out of Russia," and it “serviced” about $25 million in revenue through its Russian distribution partners last year, Chief Financial Officer Bill Betz told a Morgan Stanley investment conference Monday. “So that's the direct exposure we have” to the crisis, he said. In terms of “indirect” exposure, NXP supplies chips to an automotive OEM in Ukraine that manufactures wire harnesses, said Betz. “They are shut down, paused for a couple of weeks” to find alternative sourcing, he said. NXP’s sourcing of neon used for lithography in semiconductor manufacturing “does not come from Ukraine,” said Betz. “We typically hold six to nine months' worth” of inventory in neon, he said: “So really, in the short term, no impact, but this is something that we are continuing to monitor very carefully, and we will adjust accordingly as we go forward.”
Telecom-focused lawmakers are trying to beat the legislative clock as they seek a way to renew the FCC’s spectrum auction authority, currently set to expire when FY 2022 ends Sept. 30. The House Communications Subcommittee is eyeing a March 16 hearing on auction authority reauthorization and potential ways to spend revenue from additional auctions, Hill aides and lobbyists told us. FCC Chairwoman Jessica Rosenworcel recently asked Congress to authorize the agency to use proceeds to pay for next-generation 911 tech upgrades (see 2202220057). Congress last extended the FCC’s auction authority via the 2012 spectrum law.
China's lack of worker rights, weak environmental standards "and anticompetitive subsidies are the hallmarks of China’s artificial comparative advantage. It is an advantage that puts others out of business and violates any notion of fair competition," the annual trade policy agenda from the Office of the U.S. Trade Representative said, and the administration is looking to advance fair competition "through all available avenues," including coordinating with other countries, using existing trade agreements, or new tools, it said.
CBP issued a correction to a recent notice that proposed and outlined new data elements meant to help with vetting members of the Customs-Trade Partnership Against Terrorism (see 2202170041). "The document contained information about the CTPAT Portal that was in the process of being updated to meet current modern computing standards and to allow for updates to the minimum-security criteria," the agency said in a notice released March 3. "Due to unforeseen developmental delays, CBP is pausing proposed updates to these internal systems."