Welcome to Bloomberg Law’s Wake Up Call, a daily rundown of the top news for lawyers, law firms, and in-house counsel.

Lobbying firms with ties to President Donald Trump continue to dominate K Street, but those with Democratic ties say business is picking up ahead of a possible shift in Congress in this fall’s midterm elections.

Companies in the US have largely abandoned requiring the law firms they hire to meet any diversity thresholds, falling in line with a Trump administration push to strip DEI from the legal profession.

With a feckless Congress and an aggressive executive, the judiciary is less riven by partisan strife than the other branches. But if the Supreme Court is the last branch standing, are its legs starting to wobble? David Lat asks in his latest column.

The US Supreme Court cleared some brush on the path to federal court for private parties pursuing federal goals in a transformational and unanimous 8-0 opinion, Donald Kochan, a law professor at George Mason University’s Antonin Scalia Law School, writes.

Accounting firms that want to stay independent while taking on private equity investments risk their client base. Here are five ways independent firms can shore up their focus, operations, and incentives to compete with more heavily funded peers.

Companies in the US have largely abandoned requiring the law firms they hire to meet any diversity thresholds, falling in line with a Trump administration push to strip DEI from the legal profession.

With a feckless Congress and an aggressive executive, the judiciary is less riven by partisan strife than the other branches. But if the Supreme Court is the last branch standing, are its legs starting to wobble? David Lat asks in his latest column.

Accounting firms that want to stay independent while taking on private equity investments risk their client base. Here are five ways independent firms can shore up their focus, operations, and incentives to compete with more heavily funded peers.

OpenAI sits at the center of a growing conflict over defense contracts, commercialization, and control of frontier AI. These disputes reveal a deeper issue: How AI companies are structured may shape how they balance profit, safety, and national security.

An unexpected deterioration in China’s labor market has reached the key demographic of early-career workers, as seasonal pressures amplified spillovers from the war in Iran while wider use of artificial intelligence raises risks for employment.

The federal government scrapped a plan to have health insurance companies fund coverage of obesity drugs for seniors, opting instead to pay for the medicine with taxpayer dollars through the end of next year.

President Donald Trump sent what might be construed as a chilling message to the thousands of American importers applying this week for refunds for his illegal tariffs: In his eyes, you might fare better if you don’t.

Landlords who seek to reduce their tax bills by transferring properties to limited liability partnerships with corporate members face possible penalties for tax avoidance, the UK tax authority warned Wednesday.

Companies in the US have largely abandoned requiring the law firms they hire to meet any diversity thresholds, falling in line with a Trump administration push to strip DEI from the legal profession.

Proposed IRS rules scrapping reporting requirements for complex partnerships will neutralize one of the few remaining tools the agency has to identify abusive partnership transactions, Senate Democrats are warning in a new missive to IRS and Treasury Department officials.

Within hours of filing his tax return, Chris Carroll realized he’d given the IRS the wrong bank account information. It took him weeks to clear up the mistake.

President Donald Trump sent what might be construed as a chilling message to the thousands of American importers applying this week for refunds for his illegal tariffs: In his eyes, you might fare better if you don’t.

The broad selloff in public markets triggered by fears of artificial intelligence disruption provides an opportunity to snap up technology firms on the cheap, according to private equity giant EQT AB.

Polymarket, the long-time leader in prediction market trading volume, has fallen behind its chief rival as it faces a growing list of operational stumbles in its attempt to reach a crucial audience: US customers.

The European Union proposed measures such as optimizing jet fuel distribution, as it unveiled a plan to navigate the energy crisis caused by the Iran war.

The Justice Department has kept its word to go after corporate diversity, equity and inclusion with a first-of-its kind federal contractor settlement, leading companies to grapple with practices that could strap them with subpoenas, court dates, or hefty payments to the government.

Companies in the US have largely abandoned requiring the law firms they hire to meet any diversity thresholds, falling in line with a Trump administration push to strip DEI from the legal profession.