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Osborne Clark advises on sale of AI company Forecast to Accelo

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International legal practice, Osborne Clarke, has advised the shareholders of UK company Forecast, a provider of AI-powered project and resource management software, on its sale to cloud-based platform for Professional Services Automation (PSA), Accelo. As well as Dennis Kayser and fellow founders, the Forecast shareholders included leading venture capital funds, Balderton, Crane Venture Partners, SEED Capital and Heartcore. This strategic acquisition expands Accelo’s capabilities in predictive planning, resource optimisation and intelligent automation, further strengthening its leadership in the PSA market.

The Forecast AI-native platform is a system of intelligence that represents the most advanced technology ever applied to managing finances, resources and projects. The ultimate upgrade for any project team and organisation, it automates busywork, surfaces best practices, predicts outcomes and guides projects to success.

Headquartered in Denver, Colorado, Accelo helps professional services-based businesses streamline operations, improve efficiency, and scale profitably. Designed for industries such as consulting, accounting, engineering, architecture, IT services and marketing agencies, Accelo replaces fragmented tools with a single, integrated system for managing clients, projects, resources and finances.

Combining the strengths of Accelo and Forecast will accelerate innovation across both platforms, building a smarter, more agile solution driven by a shared vision to eliminate operational blind spots and empower teams to excel. Customers of both platforms can expect continued support and improvements, with future product enhancements driven by collaborative innovation and customer feedback.

“We are proud to have supported the shareholders of cutting-edge Forecast in this strategic move. The joining forces of Forecast and Accelo represents a major step forward in the professional services automation sphere, helping teams optimise resources, control margins, and deliver the exceptional client outcomes that are increasingly expected in today’s market.”

James Taylor, corporate partner, Osborne Clarke

The Osborne Clarke team was led by corporate partner James Taylor and Uday Mehra, with support from Andrew Blyth and Courtney Fowler.

Osborne Clarke’s international corporate team has the capability, resources and experience to manage transactions of all sizes. Our portfolio of clients includes fast-growing businesses and those with a tech focus. We are the legal advisor of choice for future-focused clients and organisations at the forefront of innovation and transformation in their market. 



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Rolling Stone’s parent company sues Google over AI Overviews

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Disclosure: Penske Media Corporation is an investor in Vox Media, The Verge’s parent company.

Penske Media Corporation, the publisher of Rolling Stone and The Hollywood Reporter, has become the first major American media company to sue Google over its AI summaries. The company claims that the AI Overviews that often appear at the top of search results leave users with little reason to click through to the source, hurting traffic and illegally benefitting from the work of its reporters.

While Penske Media is the biggest name to take on Google over its AI Overviews, it’s not the first. Online education company Chegg sued Google in February, as did a group of independent publishers in Europe. The News / Media Alliance has also spoken out about the feature, calling it the “definition of theft” and seeking action from the DOJ.

Google spokesperson José Castañeda defended the summaries to the Wall Street Journal saying, “with AI Overviews, people find search more helpful and use it more.” But Penske and other publishers say there is little reason to follow the links provided in search results and, as a result, they have seen significant drops in traffic and revenue. Penske claims in the suit that revenue from affiliate links is down by over 1/3 this year, and it attributes that directly to a drop in traffic from Google.

The company also claims it’s in a tough situation. It can either block Google from indexing its content, essentially removing itself from all search results, which would further devastate its business. Or, it can continue to provide training material to Google for its AI, “adding fuel to a fire that threatens PMC’s [Penske Media Corporation] entire publishing business,” the complaint states, according to the Wall Street Journal.



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Sainsbury’s talks to sell Argos to Chinese retailer JD.com collapse | J Sainsbury

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Sainsbury’s hopes of offloading its retail business Argos to one of China’s biggest retailers have collapsed as talks ended on Sunday.

The supermarket giant confirmed it was no longer in discussions with JD.com to sell Argos, the general merchandise arm it bought for more than £1bn less than a decade ago.

On Saturday it had announced talks with JD.com for a sale that it said would speed up the transformation of Argos, whose business has gone increasingly online and within larger Sainsbury’s branches.

But 24 hours later, Sainsbury’s said the deal was off. It said: “JD.com has communicated that it would now only be prepared to engage on a materially revised set of terms and commitments which are not in the best interests of Sainsbury’s shareholders, colleagues and broader stakeholders. Accordingly, Sainsbury’s confirms that it has now terminated discussions with JD.com.”

JD.com, which is unrelated to JD Sports, is one of China’s biggest retailers and also provides its supply chain-based technology and services across other sectors. Last year, JD.com walked away from a deal to buy the UK white goods and electronics retailer Curry’s.

Argos is the UK’s second largest general merchandise retailer, behind Tesco, with the third most visited retail website in the UK, according to Sainsbury’s. It retains almost 200 standalone stores – with kiosks where customers used to peruse its famous catalogue – and more than 1,100 collection points, mostly in Sainsbury’s stores.

Before the collapse, Sainsbury’s had talked up the potential deal as accelerating its turnaround of Argos, saying: “JD.com would bring world-class retail, technology and logistics expertise and invest to drive Argos’s growth and further transform the customer experience.”

A sale would almost certainly have commanded a far lower figure than the £1.1bn Sainsbury’s paid in 2016 for Home Retail, the then owner of Argos. Sainsbury’s latest accounts valued the chain at £344m, and the group said growth at the main supermarket business was weighed down by falling Argos profits.

Some retail analysts have questioned the supermarket’s transplanting of the Argos operation into its stores. Hundreds of standalone Argos stores were closed as the business restructured and moved more to online shopping.

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In 2023, Sainsbury’s closed down two Argos distribution centres and the business’s head office in Milton Keynes in a further attempt to cut costs.



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Here’s a tip: eliminate US tipping culture and pay people a living wage | US small business

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I’m here in Las Vegas for a conference where I just paid $7 for a cup of coffee and then was shamed into tipping another $1 to the server for pouring the coffee and handing it to me. Welcome to America. I feel like I’m tipping for everything, everywhere. And now it’s only going to get worse. And for that I blame President Trump.

Of course, our tipping culture was in place long before Trump took office. But now that his “no tax on tips” promise became law, our government is officially enabling it. That’s good news for tipped workers and for small-business owners who may feel less pressure to pay higher wages if their workers are getting enough gratuities. But at the same time, it’s bad news for the rest of us who will likely feel even more obligated than ever to tip.

What’s frustrating is that the tax benefits for tipped workers are not only over-hyped, they’re also temporary. Yes, workers can avoid getting taxed on their tips – but not all workers (see below) and not all their tips. If you’re eligible, you can deduct up to $25,000 of tip income each year and there are income limitations. Also, you won’t see that benefit until you file your year-end tax returns. You also still have to pay in to social security and Medicare taxes. And it’s estimated that as many as one-third of those employees eligible for this deduction will never use it because their income is so low they don’t pay any federal taxes anyway. Oh, and by the way, the deduction expires in 2028. So enjoy it while it lasts.

Also irritating is who’s eligible. The treasury department recently published a list of about 50 types of workers who can claim the tipped-wages deduction. Unfortunately, I wasn’t consulted. But if I were, then I would have been a little more particular.

For example, I would never include “digital content creators” as eligible tipped workers. Really? Now we’re tipping influencers? Like MrBeast needs more money? Given all the harm that social media has wrought on this world, it’s probably better not to encourage these people with tax incentives.

I was also surprised to see that electricians, plumbers and locksmiths who work in people’s homes are eligible for tips. These are licensed professionals performing a service. Many are independent contractors or freelancers who are quite capable of coming up with their own fees. And those who are employed aren’t cheap either. I’m not sure where the line is drawn. Should I also be tipping the staff of my accounting firm? My life insurance agent?

What exactly are “gambling and sports book writers and runners”? Who tips these people? I’m not a prude, but should we be enabling this industry in particular? Can the casinos not afford to pay these people enough?

I can’t imagine who would tip a private event planner, either. Event planners work for people who have enough money to pay for event planners. It seems silly to give these people a tax benefit for any tips on top of that.

Finally, why in the world would anyone want to encourage “self-enrichment teachers” with a tax-free tip? I would think the best way to enrich oneself is to pocket your extra money and not further enrich the self-enrichment teacher. What’s next, tipping the guy who mansplains how the infield fly rule works?

Now that I’ve listed some people who should be dropped from this benefit, it’s only fair to share a few who were unfairly left off. For example:

Postal workers. Every year we tip our postal worker. She provides a friendly, cheerful, daily service in rain, snow, sleet … well, you know the rest. Most of my friends do the same.

Flight attendants. They load bags. They carry babies. They walk around cabins during turbulence. They deal with jerks. And many don’t even start getting paid until the plane leaves the gate!

School teachers. I don’t understand why everyone wrings their hands over how to improve compensation for our teachers and yet there are no tax incentives for parents to tip them.

School bus drivers. Them, too.

Grocery store cashiers. All during Covid, while the rest of us stayed safely at home, watching Netflix and receiving our Amazon packages, the guy who ran the cash register at our local grocery store came in to work every day and did his job. His name is Emilio. Add him to the list, please.

If it were up to me, we’d be like the rest of the world and ban tips altogether. Instead of incentivizing people to tip, I’d tax tip income higher so employers would be forced to step up and just pay a fair wage. But that’s not reality in 21st-century America. So let’s just make this benefit permanent already instead of playing budgetary games and setting an expiration date near (surprise!) the next presidential election, so it can be a populist rallying point. Let’s also re-visit who is and isn’t eligible.

My final tip: when in Vegas, make your coffee in your room.



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