Chapter News

European Council | Forced labour: Council adopts position to ban products made with forced labour on the EU market

The Council has today adopted its position (negotiating mandate) on the regulation prohibiting products made with forced labour on the EU market. The negotiating mandate of the Council supports the overall objective of combatting forced labour, and it introduces several improvements to the proposed text. The Council mandate clarifies the scope of the regulation by including products offered for distance sales, envisages the creation of a forced labour single portal, and reinforces the role of the Commission in investigating and...

Read more

Member News

Mason, Hayes & Curran | What are the Cybersecurity Risks of Generative AI?

Last year Generative AI dominated headlines, promising to transform the way in which organisations operate by drastically increasing efficiency and reducing labour-intensive tasks. As a result, the overarching narrative was one of adoption or risk becoming obsolete. While there is some truth to these claims, it's also important to bear in mind that as with any new technology, inherent risks equally exist. What is Generative AI? Generative AI is a branch of artificial intelligence that focuses on generating new data in the form...

Read more

Chapter News

European Commission |  A stronger voice for workers in EU-based multinational companies

Workers will be better represented in EU-based multinational companies thanks to new rules for the so-called European Works Councils (EWCs). These Councils ensure that employees are involved in decisions related to transnational issues, like re-structurings. They help workers anticipate and manage changes in the world of work, including labour shortages and new technologies. Around 1,000 EWCs currently represent nearly 11.3 million European employees. While these Councils represent more than half of the eligible workforce, this is still less than a third of the estimated almost...

Read more

Member News

EIB | Driving European competitiveness, stability and climate leadership – EIB Group invests €88 billion in 2023

EIB Group signed €88 billion in funding for over 900 high-impact projects in key policy areas such as transport infrastructure and urban mobility, energy and water, digitalisation, new technologies, innovation, healthcare, affordable housing, education and support to SMEs A record €49 billion invested in green finance More than €21 billion invested in energy security   In 2023, the European Investment Bank Group signed new financing contracts for close to €88 billion for high-impact projects in EU policy priorities, including climate action,...

Read more

Member News

Trepp | Bank CRE Annual Loan Growth: A 2023 Review and 2024 Outlook

Bank commercial real estate (CRE) lending grew by 3.2% in 2023, significantly slower than the 10.9% growth rate in 2022, according to Federal Reserve data compiled by Trepp.¹ The growth rate in 2023 was the slowest pace since 2012 when the CRE market was still in the throes of the Global Financial Crisis.  Bank CRE Lending in 2023 Bank CRE lending was slow throughout 2023, as higher interest rates took a bite out of transaction volume and negatively impacted real estate valuations....

Read more

Member News

Reavis, Page & Jump | A Sign of the Times: Copyright Lawsuit Filed Against Microsoft and Open AI by The New York Times

With 2024 underway, it’s worth reflecting on the flurry of lawsuits brought in 2023 by creators against owners of artificial intelligence technology companies that have forced the intersection of AI and intellectual property rights under the legal spotlight. With the unprecedented growth of AI as a search and content engine, the boundaries of creative ownership and conventional notions of copyright protections are being challenged. In our July 2023 article on the lawsuit initiated by comedian Sarah Silverman and other authors against Meta...

Read more

Uncategorized

Littler Mendelsohn | What Would Overruling Chevron Mean for Labor and Employment Law?

The Supreme Court will hear oral arguments on two cases challenging the deference given to federal agencies’ interpretations of statutes they are charged with enforcing. If Chevron is overruled or pared back, federal agencies enforcing labor and employment laws will likely face more challenges to their rules and other interpretive guidance. Overruling Chevron may cause agencies to issue fewer new regulations, take more modest positions in the regulations they do issue, or both. Next week, the U.S. Supreme Court will hear oral arguments in two cases asking whether to...

Read more

Chapter News, Uncategorized

OECD | Labour Market Situation Update: January 2024

OECD employment rate remains at record high in the third quarter of 2023 OECD employment and labour force participation rates stabilised at 70.1% and 73.8% in the third quarter of 2023, the highest levels recorded since the start of the series in 2005 and 2008, respectively. Both indicators were at or near their record highs in 9 of the 38 OECD countries, including France, Italy, and Japan (Figure 1, Tables 1 and 2). Record highs in both the OECD employment and...

Read more

Chapter News

European Council | Anti-money laundering: Council and Parliament strike deal on stricter rules

The Council and Parliament found a provisional agreement on parts of the anti-money laundering package that aims to protect EU citizens and the EU's financial system against money laundering and terrorist financing. "This agreement is part and parcel of the EU’s new anti-money laundering system. It will improve the way national systems against money laundering and terrorist financing are organised and work together. This will ensure that fraudsters, organised crime and terrorists will have no space left for legitimising their...

Read more

Member News

Trepp | European Market Update: More CLO Issuance Expected; CMBS Revival in 2023; CRE Predictions

Eurozone inflation increased to 2.9% in December from 2.4% in November, as reported by the Independent. This was the first rise in seven months and was driven mainly by the end of German and French energy subsidies, which increased prices in the Eurozone’s 2 largest economies. Inflation is still well down from the peak of October 2022 when inflation rose to over 10%. The inflation increase muddied the waters somewhat for any potential interest rate cuts in early 2024, with analysts now...

Read more