29 Apr
Chapter News

EIB Group provides EUR 100 million for new private equity fund investing in tech and industrial firms

The EIB Group, formed by the European Investment Bank (EIB) and European Investment Fund (EIF), is providing EUR 100 million for a private equity fund designed to support investment in midcaps mainly in the technology and industry sectors. With a first closing of EUR 400 million, the fund has also attracted a EUR 100 million participation by the Centre for Technological and Industrial Development (CDTI) as well as private investment. This is the first operation signed in Spain in 2016 under...

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29 Apr
Chapter News

Civil society needs to be involved in all aspects of the Energy Union

In the debate with Commission Vice-President Maroš Šefčovič the EESC stressed the importance of establishing an intelligent, efficient and sustainable EU external energy policy and the need for a shared vision – rather than mere technical/administrative reporting - to ensure that the Energy Union objectives are effectively pursued. There should be a greater focus on the social dimension of the Energy Union according to the EESC's opinion on the State of the Energy union 2015 (Rapporteur:  Stephane Buffetaut, Employers' Group)...

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28 Apr
Chapter News, Trade & TTIP Related

Remarks by President Obama and Chancellor Merkel Hannover Messe Fairgrounds

PRESIDENT OBAMA:  Guten morgen!  Once again, I want to thank Chancellor Merkel and everyone here at Hannover Messe for welcoming us.  Angela and I already spoke last night.  I’m giving a speech later this morning.  So I’m going to be very brief. As I said last night, so much of our global economy and the growth that creates jobs is driven by the spirit of innovation --discovery, invention -- and then turning those ideas into new products, companies, new industries,...

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28 Apr
Chapter News

USTR Releases Special 301 Report on Protection of American Intellectual Property Rights Across the World

On the heels of World Intellectual Property Day, the Office of the United States Trade Representative (USTR) has released the 2016 “Special 301” Report on the global state of intellectual property rights protection and enforcement. U.S. Trade Representative Michael Froman was joined by Members of Congress and the American business community in order to unveil the report, which is the last that will be released during the Obama Administration. “Intellectual property is a critical source of economic growth and high-quality...

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28 Apr
Chapter News

Interest rates: final vote to ensure robust and transparent benchmark setting

Benchmark interest rates that are critical to financial market stability across Europe, such as the London Interbank Offered Rate (LIBOR) and the Euro Interbank Offered Rate (EURIBOR), will become more reliable thanks to a new law voted in by Parliament on Thursday. This law aims to clean up the benchmark-setting process, improve transparency, and prevent conflicts of interest like those that led to the LIBOR rigging scandals of recent years. "This law should put an end to manipulation of benchmarks...

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27 Apr
Member News

New Leases Accounting Standard: Potential Consequences of FASB Leases (ASC 842) for Portfolio Companies

On February 25, 2016, the FASB issued a new standard, Leases (ASC 842). Certain provisions of the new standard are particularly noteworthy for portfolio companies owned by private equity investors. Calendar year-end public companies adopting the standard on January 1, 2019 will need to apply the guidance to the 2017 and 2018 comparative periods presented. Most notably, the new standard requires lessees to recognize virtually all leases (other than short-term leases) on their balance sheet. This means that lessees will...

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27 Apr
Member News

Vision For Life to Build Primary Vision Care Capacity

Reaching the 2.5 billion people worldwide who do not have access to the vision care they need took a step closer to reality this month when the Essilor Group launched the Vision For Life program. Jayanth Bhuvaraghan, Essilor’s Chief Corporate Mission Officer and Chairman of the two boards that will administer the funds, explained how it will work. “Vision for Life is a global strategic giving program that will fund, monitor and measure the impact of projects showing the most potential...

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27 Apr
Member News

Making UK Equity Plans Work for US Employees

When UK emerging companies venture outside the UK, they quickly need to address whether – and how - to extend equity-based compensation to non-UK employees.  However, few jurisdictions offer a regime as favourable as the UK’s Enterprise Management Incentives (EMI) scheme for providing equity compensation to emerging company employees. The discussion below provides guidelines for making this work.  Although the focus is on extending equity-based compensation to US employees, the issues addressed have broader applicability. 1. Provide for non-EMI grants of...

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27 Apr
Chapter News

A new integrated EU policy for the Arctic adopted

The High Representative and the European Commission set out an integrated response to the challenges of the Arctic. The High Representative for Foreign Affairs and Security Policy and the European Commission have today adopted a policy proposal that will guide the actions of the European Union in the Arctic region. The European Union will step up its existing action and engagement in the region with 39 actions focussing on climate change, environmental protection, sustainable development and international cooperation. The particular...

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27 Apr
Chapter News

On World Intellectual Property Day, UN agency spotlights role of digital creativity

The way in which creative works are produced, distributed and enjoyed around the world has been reimagined as a consequence of digital technology, the head of the United Nations World Intellectual Property organization (WIPO) said today. In a message marking World Intellectual Property Day, whose theme this year is Digital Creativity: Culture Reimagined, WIPO Director General Francis Gurry stressed that that the Day, which is celebrated each year on 26 April, is an opportunity to celebrate the creators and innovators...

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