21 Oct
Chapter News

Completing Europe’s Economic and Monetary Union: Commission takes concrete steps to strengthen EMU

Europe's Economic and Monetary Union (EMU) is in much better shape today than it was before the financial crisis. However, despite progress, particularly as regards reinforcement of the economic governance and the launch of the Banking Union, the EMU remains incomplete. Divergence in economic performance across the euro area is significant. With close to 18 million unemployed and many within our societies exposed to risks of social exclusion, more needs to be done to turn the euro area into a...

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21 Oct
Member News

DS-Concept Provides $1 Million Export Factoring Facility to German Components Manufacturer

DS-Concept Factoring, a global commercial finance company specializing in international non-recourse factoring, has provided a $1 million export accounts receivable facility to a components manufacturer in Germany. The client, a manufacturer of machinery components for power plants and energy suppliers, anticipates an annual factored volume of $10MM-$12MM. With this new export factoring facility in place, the client will continue to focus on their growing exports within the European Union. The DS-Concept Group maintains a network of offices and affiliates all over the world, including USA,...

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20 Oct
Chapter News, New York Related News

Governor Cuomo Announces Approval of Over $39 Million to Fund 34 Projects That Will Create Over 200 Jobs and Retain More Than 1500

Businesses, Hospitals and Universities to Receive State Funding That Will Leverage Over $330 Million in Investment Governor Andrew M. Cuomo today announced that $39.2 million in economic development funding has been approved for 34 projects that are spurring growth and opportunity across the state. The funding, approved by Empire State Development’s Board of Directors, supports projects that are creating 233 new jobs and retaining 1,589 existing New York State jobs – many of which have already been created or retained....

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20 Oct
Chapter News

Climate change: EU shows leadership ahead of Paris with 23% emissions cut

Joint press release: European Commission - European Environment Agency on the "Trends and projections in Europe 2015" report The European Union is on track towards meeting and overachieving its 2020 target for reducing greenhouse emissions by 20%, according to a report published today by the European Environment Agency (EEA). The "Trends and projections in Europe 2015" report reveals that greenhouse gas emissions in Europe decreased by 23% between 1990 and 2014 and reached the lowest levels on record. Latest projections by...

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20 Oct
Member News

TREPP: Trading Alert: StuyTown and Peter Cooper Village Sold

According to a Wall Street Journal article and a Barclays note, the long saga of StuyTown and Peter Cooper Village is coming to an end. Blackstone and a partner have apparently finalized a deal to purchase the property for $5.3 billion. The payoff could come as early as the November remittance. Based on the sale price, Barclays is projecting no bond loss, a repayment of all ASERs, advances, and fees, as well as a $172 million prepayment fee. On top...

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20 Oct
Chapter News

Results of the October 2015 euro area bank lending survey

In the October 2015 bank lending survey (BLS), euro area banks reported a net easing of credit standards on loans to enterprises in the third quarter of 2015 (a net percentage of -4% of banks reported that credit standards had become tighter, after -3% in the previous quarter), which was stronger than banks’ expectations in the previous survey round. Competitive pressures were the main factor behind the easing of credit standards on loans to enterprises. Banks reported a net tightening...

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19 Oct
Chapter News

IMF Update on European Economy

IMF European Department Press Briefing | Washington D.C., October 9, 2015 MR. ADRIANO: Good morning. Thank you all for coming to this Press Briefing of the IMF’s European Department. With us today, is Poul Thomsen, Director; Jörg Decressin, and Philip Gerson Deputy Directors, European Department. Mr. Thomsen will have some opening remarks and then we'll ready for your questions. Poul? MR. THOMSEN: Yes. Good morning and thank you for joining us this morning. Let me start by giving you a few...

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19 Oct
Chapter News

Leaders Unite in Calling for a Price on Carbon Ahead of Paris Climate Talks

For the first time, an unprecedented alliance of Heads of State, city and state leaders, with the support of heads of leading companies, have joined forces to urge countries and companies around the globe to put a price on carbon. The call to price carbon comes from the Carbon Pricing Panel – a group convened by World Bank Group President Jim Yong Kim and International Monetary Fund (IMF) Managing Director Christine Lagarde - to spur further, faster action ahead of...

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19 Oct
Chapter News, New York Related News

Governor Cuomo Announces $7 Million For Improvements to Airport Infrastructure

Governor Andrew M. Cuomo today announced $7 million in funding is available for airport improvement projects across New York State. These grants, coming from the Governor’s Aviation Capital Grants Program, will go toward supporting airport infrastructure and economic development projects across the state. “For many, our airports are the gateways to New York and a significant part of economic growth and job creation,” Governor Cuomo said. “This funding will help ensure that our airports remain more accessible and convenient for...

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19 Oct
Trade & TTIP Related

11th Round of TTIP Launches in Miami

The 11th round of Transatlantic Trade and Investment Partnership negotiations will take place in Miami, Florida all week this week. Representatives from the EU, led by Ignacio Garcia Bercero on behalf of EU Trade Commissioner Cecilia Malmström, arrive in Florida on Monday morning. On the US side, Dan Mullaney will lead a team from US Trade Representative Michael Froman's office. The two groups of experts will confer on the three biggest challenges to a comprehensive free trade agreement: access to...

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