Greater Irvine Chamber of Commerce
Our mission is to advance the economic vitality of greater Irvine.
Our mission is to advance the economic vitality of greater Irvine.
Calculating employee hourly rates can be confusing because the basic hourly rate is often referred to as the regular rate. For purpose of paying overtime, the actual regular rate includes additional payments as well. The payment of overtime is based on remuneration an employee receives such as hourly earnings, nonexempt salary, piecework earnings, nondiscretionary bonuses, and commissions, etc. These amounts make up what is called an employee’s regular rate of pay. Once the regular rate is determined, it is used as the basis to calculate overtime for nonexempt employees. It does not apply to exempt employees who are not owed overtime. No, employers do not have to change any straight-time wages already paid. The regular rate is used to calculate the overtime owed. Although this discussion is about overtime payment, the regular rate is used in other instances too, such as sick leave. Not Part of ‘Regular Rate’ Not all additional pay is included in the calculation. The following is a partial explanation of those amounts that are excluded. The following payments are not included in the regular rate of pay: • Gifts, such as those received for holidays or birthdays. • Hours paid but not worked, such as vacation, holidays, sick leave, etc. • Reimbursement of expenses. • Discretionary...
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European Union leaders will ask their trade ministers to quickly approve negotiating mandates for the European Commission to start formal trade talks with the United States, draft conclusions showed. “The necessary steps should be taken for the rapid implementation of the U.S.-EU Joint Statement of 25 July 2018,” the draft conclusions, seen by Reuters, said. The EU has been in talks on trade with Washington since July 2018, when U.S. President Donald Trump agreed to hold off new punitive tariffs while the two sides worked on ways to improve economic relations. Source: Reuters
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The strong trade and investment links between Ireland and the United States, as well as California, were celebrated last week at a California Chamber of Commerce breakfast held in conjunction with CalChamber Board events. The CalChamber Council for International Trade meeting, sponsored by Frontier Communications, was one of several gatherings in the week leading up to St. Patrick’s Day featuring the release of the US-Ireland Business 2019 report by the American Chamber of Commerce (AmCham) Ireland. Speaking at the March 15 breakfast were the Honorable Simon Harris, Irish minister for health and former minister of state; Carin Bryans, vice president of AmCham Ireland and managing director of JP Morgan Ireland; and Robert O’Driscoll, consul general of Ireland to the Pacific Northwest. The three highlighted Ireland as a transatlantic hub and gateway to the European Union. California-Ireland Trade Bryans noted that the contributions of Irish immigrants to the U.S. economy have evolved from manual labor and domestic services in the 19th century to highly skilled occupations today. Highlighting California-Irish trade and investment relations, Bryans pointed out that about 140 Irish companies are established on the West Coast of the United States, primarily in California. In addition, more than 50 California-based companies have Irish founders. California is the top exporting...
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Deal. No deal. EU extension or second referendum. The one word everyone agrees upon when describing Brexit and its implications for the U.K. and every company that does business in the country is: uncertainty. Although the March 29 deadline is looming, negotiations with the EU for a delay and Parliament debate continues. Fieldfisher, the European law firm specializing in lifesciences and technology law visited the Greater Irvine Chamber on March 19. Alison Dennis, Partner with the London Office, met with the Chamber and its foreign direct investment delegation in 2017, just months after the Brexit vote. Knowing that Irvine has a robust medical device and technology sector, Fieldfisher chose the Greater Irvine Chamber to present their current take on Brexit. Dennis, along with Felicity Fisher, director with the Fieldfisher Silicon Valley Office, presented timelines, advisories, regulation changes, and legal implications for the above scenarios to Chamber members and businesses most likely impacted by Brexit. The dominant takeaway: companies that do business in the U.K. should take action now and prepare for all of these scenarios, making certain to have U.K. and EU notified bodies engaged, authorized representation, and legal manufacturers in both geographic footprints. It’s likely that all medical devices will require...
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