As dawn breaks over the Gulf of Fonseca, southeast of El Salvador, Patri Friedman sets out for a jog. He trots past domed hothouses filled with fruit trees and feels the sidewalk sway gently underfoot as a tugboat chugs by with a floating apartment building in tow. The year is 2024, and Friedman lives on a so-called seastead, a waterbound city of some 1,000 people who produce their own food, their own energy and -- most important -- their own laws.
Baker & McKenzie LLP will merge with United Arab Emirates 40-lawyer law firm Habib Al Mulla on July 1, to create Baker & McKenzie Habib Al Mulla. The firm will advise clients on local and international law in its Dubai offices and, with regulatory approval, in Abu Dhabi.
Caterpillar Inc., the largest construction and mining-equipment maker, plans to close a Canadian locomotive plant that employs about 800 people after failing to reach an agreement with locked-out union members.
Glencore International Plc, the largest publicly traded commodities supplier, has expressed an interest in acquiring Canada’s biggest grain handler Viterra Inc., according to a person familiar with the situation.