04 Sep
Member News

Loyens & Loeff | Belgium: Return to the usual rules concerning temporary unemployment

As of 1 September 2020, the usual rules for temporary unemployment due to force majeure or for economic reasons will apply again, with the exception of the following nuances and deviations: Application of transitional measures until 31 December 2020 if the temporary unemployment regime for economic reasons is invoked; Keeping the simplified procedure for temporary unemployment due to force majeure (corona) for sectors or companies that have been particularly affected by the crisis. Keeping of the simplified procedure for sectors...

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04 Sep
Member News

BBGFX | September 2020 FX Outlook

The US dollar's rally in the initial phases of the pandemic has been unwound, and sentiment appears to be the most negative since the Great Financial Crisis.  New lows for the year against the euro, Swiss franc, the British pound, Swedish krona, and the Australian dollar were recorded in recent weeks. The Dollar Index (DXY), which is heavily weighted toward Europe, fell by over 4% in July, the largest monthly decline in a decade, and another 1.25% in August. ...

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04 Sep
Brexit News, Member News

Vulcan Insight | UK Failure to Engage makes Agreement Unattainable, Barnier Says

The UK can’t have its cake and eat it too, so warned the EU’s chief negotiator Michel Barnier during his address to the Institute of International and European Affairs (IIEA) in Dublin on Tuesday. In his latest comments on the UK’s lack of engagement in negotiations over its future relationship with the European Union, Barnier stuck to the mantra that an EU-UK partnership was possible, “provided the conditions were right”. Frustration with the UK remains over its reluctance to guarantee...

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03 Sep
Member News

CLA | What Businesses Need to Know About Payroll Tax Deferral

Key insights The deferral does not appear to be mandatory. The employer is ultimately responsible for withholding and depositing the deferred tax. Employees will see higher wages paid throughout the end of the year, but there may be challenges in administering the deferral. On August 8, 2020, President Trump issued a presidential memorandum directing the secretary of the treasury to defer the withholding, deposit, and payment of certain payroll tax obligations. Employees can defer paying their share of Social Security tax on...

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03 Sep
Member News

Stibbe | COVID-19 impacts level and payment of antitrust fines

As well as granting companies leeway on certain COVID-19 initiated collaborations (see our May 2020 newsletter), the coronavirus outbreak has also led competition authorities to take a more lenient stance towards fine calculations and payments. The European Commission has extended the due date for fine payments by an additional three months in response to potential short-term liquidity issues brought about by the pandemic. Similar reasons led the Dutch Trade and Industry Appeal Tribunal to reduce a EUR 1 million cartel fine...

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03 Sep
Chapter News, COVID-19 News

OECD | Countries have responded decisively to the COVID-19 crisis, but face significant fiscal challenges ahead

Governments have taken unprecedented fiscal action in response to the COVID-19 crisis, but countries will need to support economic recovery in the face of significantly increasing fiscal challenges, according a new OECD report. Tax Policy Reforms 2020 describes the latest tax reforms across OECD countries, as well as in Argentina, China, Indonesia and South Africa. The report identifies major tax policy trends adopted before the COVID-19 crisis and takes stock of the tax and broader fiscal measures introduced by countries...

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03 Sep
Member News

Enterprise Ireland | How the Pandemic Has Pushed the Pace of Change

Accelerating Business Development in a Post-Pandemic Environment | 1. Introduction: How the world has changed It’s possible that business and business practices may have changed more in the past five months than in the previous five years. From logistics to supply chain, finance, HR, communications, and sales and marketing, few areas have been untouched. Businesses have had to pivot and pivot, and then pivot again. What started as a contingency strategy, has become a rolling strategy to address the shifting business...

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03 Sep
Member News

CILcare | Hear this! Potential Therapeutics for COVID-19 Should be Tested for Auditory Safety

Previously published in World Pharma Today | Executive Summary As the COVID-19 pandemic continues to spread across the world, clinicians, academic institutions, private organizations, and governments are working tirelessly to find treatments to help patients and at-risk populations threatened by this novel disease. The best minds in infectious disease and immunology are focusing on mechanisms for future therapies that are both safe and efective. In the absence of approved therapies, some investigators are looking towards drug products indicated for other conditions...

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03 Sep
Chapter News

EU Commission announces actions to make Europe’s raw materials supply more secure and sustainable

Today, the Commission presents an Action Plan on Critical Raw Materials, the 2020 List of Critical Raw Materials and a foresight study on critical raw materials for strategic technologies and sectors from the 2030 and 2050 perspectives. The Action Plan looks at the current and future challenges and proposes actions to reduce Europe's dependency on third countries, diversifying supply from both primary and secondary sources and improving resource efficiency and circularity while promoting responsible sourcing worldwide. The actions will foster our transition towards a...

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02 Sep
Member News

EIB | Christian Kettel Thomsen appointed as new Vice-President of the European Investment Bank

Christian Kettel Thomsen joins as Vice-President on the EIB’s Management Committee. Thomsen will serve a four-year term on behalf of Denmark Christian Kettel Thomsen has been appointed Vice-President and Member of the Management Committee of the EIB. He takes up his duties today, succeeding Andrew McDowell, whose mandate on behalf of Ireland ended at the end of August. The EIB’s Board of Governors appointed Mr Thomsen, a Danish national, on a proposal from the Government of the Kingdom of Denmark...

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