13 Jul
Chapter News

IMF Executive Board Concludes 2016 Article IV Consultation with France

On July 11, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation 1 with France. The recovery is solidifying. The economy is projected to expand by 1.5 percent this year, primarily driven by strong consumer spending. There are also signs of a cyclical recovery in investment, and the slump in residential construction appears to be bottoming out. By contrast, net exports are declining as demand from trading partners has slowed. Private sector job creation...

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13 Jul
New York Related News

Governor Cuomo Announces $13.1 Million For Agricultural Water Quality Conservation Projects

Governor Andrew M. Cuomo today announced that $13.1 million has been awarded for 42 agricultural water quality conservation projects across the state, benefiting over 120 farms. The funding, provided to 25 County Soil and Water Conservation Districts through the Agricultural Nonpoint Source Abatement and Control Program, supports projects that allow farmers to address water quality challenges in priority watersheds. Together, these projects will work to prevent water pollution, reduce erosion and limit the amount of harmful sediments and other...

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13 Jul
Chapter News

More and more Europeans are experiencing lack of water; Ministers call for a common solution

Climate change and associated alternating periods of drought and floods were the main topics of the Ministerial Conference on Water and the informal EU Environment Council. The debate has clearly shown that each EU country is experiencing this phenomenon differently. Some states are suffering prolonged droughts, others more frequent floods, and still others are experiencing both types of extreme events. For example, the Mediterranean is experiencing longer-lasting water shortages, and according to some prognoses there is a risk that the...

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12 Jul
Chapter News

What’s going on in Europe? – A view from the Deutsche Bundesbank

Speech by Dr Andreas Dombret Member of the Executive Board of the Deutsche Bundesbank at the World Affairs Council and American Council on Germany, San Francisco Monday, 11 July 2016 Ladies and gentlemen It is a great pleasure for me to be here in San Francisco with you and with these two distinguished organizations. You know, when we agreed on the title and the date of this event, I was expecting to give a talk on the economic situation in the euro...

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12 Jul
Member News

Littler: Workplace Policy Institute Insider Report — July 2016

Littler's Workplace Policy Institute Insider Report details key labor, employment, and benefits news and events at the federal, state, local, and global levels. The July edition of the Insider Report includes a discussion of legislative and litigation efforts to block recent federal agency rulemaking, White House and DOL initiatives to promote equal pay and target sex discrimination, key end-of-term Supreme Court actions, and new state-level employment laws and ballot initiatives. The Report contains the following sections: Insider Briefing . In the weeks...

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12 Jul
Member News

CMBX Activity: CMBX Spreads Plunge While CMBS Spreads Narrow; S&P 500 Hits All-Time High

In one of those weird 21st century fads (think "virtual pets") people around the US are taking to the streets, looking for Pokémon characters through their smartphone apps. (Didn't they know they've been lurking in Times Square for years?) The game was launched by Nintendo whose stock price was up more than 30% yesterday based on the popularity of the game. For the last several years, investors have seen yields on government bond go from real to virtual. Yesterday, investors might...

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12 Jul
Chapter News

Statement by U.S. Trade Representative Michael Froman on G-20 Ministerial: Key Outcomes on Environmental Goods, Excess Capacity

Shanghai -- G-20 Trade Ministers meeting in Shanghai, China reached agreement today on a package of outcomes covering WTO multilateral and plurilateral trade agreements and negotiations, investment, and cooperation on global value chains. U.S. Trade Representative Michael Froman hailed the results as a good example of G-20 leadership and shared goals in promoting global trade growth and public support for trade. In particular, the United States achieved strong results on plurilateral negotiations on the Environmental Goods Agreement and global excess...

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12 Jul
Chapter News

European Commission launches EU-U.S. Privacy Shield: stronger protection for transatlantic data flows

Today the European Commission adopted the EU-U.S. Privacy Shield. This new framework protects the fundamental rights of anyone in the EU whose personal data is transferred to the United States as well as bringing legal clarity for businesses relying on transatlantic data transfers. Andrus Ansip, Commission Vice-President for the Digital Single Market, said: "We have approved the new EU-U.S. Privacy Shield today. It will protect the personal data of our people and provide clarity for businesses. We have worked hard with...

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12 Jul
New York Related News

NYCEDC Announces 1.1 Million Square Feet Of New Office Space For Long Island City

New York City Economic Development Corporation (NYCEDC) today announced the closing of a deal with Tishman Speyer to develop two new office towers providing 1.1 million square feet of much needed commercial space in Long Island City.  The project will bring more than 1,500 construction jobs and more than 2,000 permanent jobs to Western Queens. In addition, more than 800,000 square feet of the available office space in the development has been pre-leased, including 250,000 square feet to WeWork. The...

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11 Jul
Member News

Brexit: Potential Tax Consequences

The Brexit: Introduction On 23 June  2016,  the majority of the voters in the United Kingdom (hereafter also "UK") opted to leave the EU ("Brexit"). This is a landmark event as no nation has ever left the EU. In this Alert we will briefly discuss certain possible tax consequences of the Brexit. In view of the many variables involved, however, this tax Alert may often only offer speculation on possible outcomes. Timing and strategic considerations on submitting the Article 50 Notice The rules...

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