Consumers to be better protected against domestic and cross-border “mass harm”
Safeguards against abusive lawsuits by using “loser pays principle”
Designated consumer organisations to launch actions on behalf of consumers
Parliament today endorsed a new law that will allow groups of consumers to join forces and launch collective action in the EU.
The new rules introduce a harmonised model for representative action in all member states that guarantees consumers are well protected against mass harm, while ensuring appropriate safeguards to...
Various fallback rates proposed, based upon the euro short-term rate (€STR)
Potential events described that could trigger fallbacks
Stakeholders asked to provide their views by 15 January 2021
The working group on euro risk-free rates has today released two public consultations on the topic of fallback rates to EURIBOR. Fallback rates are rates that can be relied upon in case of an unavailability of the main rate. In one consultation, stakeholders are invited to provide their views on fallback...
At a virtual summit hosted by Saudi Arabia, the G20 leaders expressed their strong commitment to coordinated global action, solidarity, and multilateral cooperation. They committed to working together to overcome the COVID-19 pandemic, restore growth and jobs, and build a more inclusive, sustainable and resilient future.
Charles Michel, President of the European Council, and Ursula von der Leyen, President of the European Commission, represented the EU at the two-day event.
At the end of the summit, the G20 leaders adopted a declaration:
G20 Riyadh Declaration
Placed under the High Patronage of Mr Emmanuel Macron, President of the French Republic and under the Patronage of the French Minister for the Economy, Finance and Recovery, the Climate Finance Day, organized by Finance for Tomorrow on October 29th at the Palais Brongniart gathered more than 1200 participants ( 180 onsite, and 1100 online) and brought together speakers from all backgrounds to discuss solutions for a more sustainable recovery. This 6th edition also confirmed the catalyst role of...
Opening remarks by Raymond J McGuire, Vice Chairman, Citi Chairman, Banking, Capital Markets, Advisory |
In his Letter from a Birmingham Jail, Dr. Martin Luther King Jr. wrote, “We are caught in an inescapable network of mutuality, tied in a single garment of destiny. Whatever affects one directly, affects all indirectly.”
Today, more than at any time since Dr. King’s assassination, we are bearing witness to the grave injustices affecting our fellow citizens. Black, Latinx, and Native Americans have been hospitalized...
The EACC, in partnership with the International Property Tax Institute (IPTI), wants to keep its members up to date with the latest developments in property taxes in the USA and Europe. IPTI has put together a selection of brief reports from articles contained in IPTI Xtracts which can be found on its website (www.ipti.org).
New York: 'This Will Be A Battle’: Landlords Prepare For Property Tax Fights As Values Slide
Owners of New York City real estate, whose taxes make up...
On Monday, November 23, 2020, EU Leaders spoke to President-elect Joe Biden over the phone.
Ursula von der Leyen, President of the European Commission, congratulated President-elect Joe Biden on his victory.
President von der Leyen said that his election as the next President of the United States would be a new beginning for the EU-US global partnership, and commented that a strong European Union and a strong United States working together can shape the global agenda based on cooperation, multilateralism, solidarity, and...
November 17, 2020 |
The OECD Forum on Tax Administration (FTA) has today published a report on Advancing Gender Balance in the Workforce: A Collective Responsibility. This report, developed by the FTA's Gender Balance Network, sets out a range of policies and practices undertaken by tax administrations and their national governments to advance gender balance in the workforce.
This report highlights innovative approaches, legislative options, flexible workplace initiatives and leadership practices adopted by FTA members in order to assist administrations in their...
The global economy accelerated during the summer months after the virtual halt of economic activity in Q2/2020. During the third quarter, consumer sentiment brightened, household spending increased, and Purchasing Manager Indices (PMIs) in the manufacturing and services sector rose above 50 indicating the economic expansion should continue in the coming months. The beginning of the fourth quarter seems to be going well although October flare-ups in COVID-19 cases in Europe and the US are beginning to influence economic sentiment.
The risk of COVID-19 transmission falls as physical distance between people increases. Innovative approaches to contact tracing help keeping a safe distance, and the European Investment Bank (EIB) supports that innovation. The EU bank and KINEXON, a Munich-based global technology leader that develops hardware and software solutions, have signed a €15 million venture debt loan to promote KINEXON’s real-time localisation technology, which enables objects or people to interact in a smarter, more efficient way using the internet of things...