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October 18, 2016, Covington Alert
At the end of each September in California, a flurry of legislative activity precedes the deadline for Governor Brown to sign or veto bills approved during the 2015 to 2016 legislative session. As in years past, a number of employment-related bills were signed into law by Governor Brown. The following alert highlights a few such bills that merit attention. Unless otherwise noted, all these laws go into effect January 1, 2017. As always, employers are advised to seek counsel with respect to the requirements and implications of each of these new laws.
October 5, 2016, Covington Alert
The International Employment Update summarises recent international employment law developments in the United Kingdom, France, Poland, China and the United States of America.
June 21, 2016
SILICON VALLEY—Covington advised Tencent Holdings Limited, a leading provider of internet service in China, in connection with its acquisition of a majority stake in Supercell from SoftBank. A consortium established by Tencent will acquire up to 84% of Supercell for $8.6 billion in a transaction valuing Supercell at approximately $10.2 billion.
Supercell is a ...
June 7, 2016, Covington Alert
On May 18, the U.S. Department of Labor (DOL) finalized its much-anticipated update to the Fair Labor Standards Act’s (FLSA) so-called white collar overtime exemption rule. Effective December 1, 2016, an employee must earn at least $913 per week—the equivalent of $47,476 per year, more than double the current rate—in order to qualify as exempt from overtime ...