EACCNY | European American Chamber of Commerce New York [EACCNY] | Your Partner for Transatlantic Business Resources

02 Nov

BBGFX | November FX Outlook

Posted by EACCNY
November 2, 2020

Several issues that have cast a pall over the business and investment climate are likely to be lifted shortly. Many still fear that the results of the US election will not be known for an extended period of time, but we note that a metric of fear, the difference between November and December VIX (S&P volatility) futures was at a six-month low before the surge in contagion spurred the biggest equity sell-off in four months as October wound down The...

02 Nov

Chapter News

ESMA makes new bond liquidity data available

Posted by EACCNY
November 2, 2020

The European Securities and Markets Authority (ESMA), the EU’s Securities Markets Authority, has today made available new data for bonds subject to the pre- and post-trade requirements of the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR) through its data register. ESMA published the latest quarterly liquidity assessment for bonds available for trading on EU trading venues. For this period, there are currently 499 liquid bonds subject to MiFID II transparency requirements. ESMA’s liquidity assessment for bonds is based...

02 Nov

Chapter News

Customs Union: EU Commission proposes new ‘Single Window’ to modernise and streamline customs controls, facilitate trade and improve cooperation

Posted by EACCNY
November 2, 2020

The European Commission has today proposed a new initiative that will make it easier for different authorities involved in goods clearance to exchange electronic information submitted by traders, who will be able to submit the information required for import or export of goods only once. The so-called ‘EU Single Window Environment for Customs' aims to enhance cooperation and coordination between different authorities, in order to facilitate the automatic verification of non-customs formalities for goods entering or leaving the EU. The...

02 Nov

Chapter News

EU Commission | October infringements package: key decisions

Posted by EACCNY
November 2, 2020

This document was updated with additional contributions on 30 October 2020, at 15h30, which are marked with an asterisk * Overview by policy area In its regular package of infringement decisions, the European Commission pursues legal action against Member States for failing to comply with their obligations under EU law. These decisions, covering various sectors and EU policy areas, aim to ensure the proper application of EU law for the benefit of citizens and businesses. The key decisions taken by the Commission...

30 Oct

Chapter News

OECD | 2020 Ministerial Council Statement: A strong, resilient, inclusive and sustainable recovery from COVID-19

Posted by EACCNY
October 30, 2020

OECD Ministers have closed two days of discussions on measures to strengthen international co-operation and ‘build back better’ from the COVID-19 crisis. Chaired by Spain, the annual OECD Ministerial Meeting at Council Level discussed macroeconomic policies and recovery plans, employment and social protection, trade and investment, resilient global value chains and the actions needed for a green recovery. Read the final statement from the Ministerial meeting. The COVID-19 pandemic has unleashed the worst health, economic and social crisis in the 60-year...

30 Oct

Chapter News

Results of the ECB Survey of Professional Forecasters in the fourth quarter of 2020

Posted by EACCNY
October 30, 2020

HICP inflation expectations for 2020 and 2021 revised down slightly, while longer-term inflation expectations broadly unchanged Expected profile of real GDP revised up slightly, with slightly milder downturn in 2020 and rebound in 2021 Unemployment rate expectations revised down across all horizons Respondents to the European Central Bank (ECB) Survey of Professional Forecasters (SPF) for the fourth quarter of 2020 reported point forecasts for annual HICP inflation averaging 0.3%, 0.9% and 1.3% for 2020, 2021 and 2022 respectively. These...

30 Oct

Brexit News, Member News

Vulcan Insight | Progress, but critical issues remain in Brexit Negotiations

Posted by EACCNY
October 30, 2020

In her most optimistic comments yet on the ongoing post-Brexit future relationship negotiations, European Commission President Ursula von der Leyen acknowledged that negotiations had intensified since last week’s very public falling out and that they were making “good progress”. However, speaking to press following a videoconference with Canadian Prime Minister Justin Trudeau, she conceded that more progress was needed on the two remaining critical issues of the level playing field and fisheries. While she did not specifically mention governance, an agreement...

30 Oct

Member News

Houthoff | CJEU rules that expiration of marketing authorisation of reference does not affect associated parallel import licence

Posted by EACCNY
October 30, 2020

The Court of Justice of the European Union (the "CJEU") has issued a judgment clarifying the rights of parallel import licence holders. It ruled that the mere expiration of a marketing authorisation of reference does not affect the associated parallel import licence. The parallel importers rights may only be restricted if justified by specific circumstances relating to protecting public health. Authorities refuse to adjust dosage instructions Kohlpharma, a German pharmaceutical company, obtained a parallel import licence to import a medicinal product in tablet...

30 Oct

Brexit News, Chapter News

IMF Managing Director’s Opening Remarks at United Kingdom Article IV Press Conference

Posted by EACCNY
October 30, 2020

Kristalina Georgieva, October 29, 2020 | Chancellor, thank you very much for your kind introduction. Ladies and gentlemen, good morning. Over the last week we have been having virtual meetings for our Article IV consultation for the British economy. We meet at a time when the UK and the world are in the grip of the worst pandemic in a century. It has already taken an enormous human toll and caused unprecedented economic disruption, including in the UK, and unfortunately we are seeing...

29 Oct

Member News

AXA-IM | COVID-19: Accelerating the energy transition and driving climate-friendly investment opportunities

Posted by EACCNY
October 29, 2020

Below four AXA IM ESG experts assess whether the crisis will help accelerate the energy transition, and outline what they think the investment implications could be. Access the full publication: AXA Investment Managers - Accelerating the energy transition - Oct 2020. | The decade of transition got off to a start nobody could have predicted – or wanted. Less than year into the 2020s, the world is reeling from the shock of COVID-19, a pandemic which has taken both lives and...

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