12 Jun
Chapter News

The Global Economic Reset—Promoting a More Inclusive Recovery

June 11, 2020 | Blog Post By Kristalina Georgieva, Managing Director of the IMF The COVID-19 crisis is inflicting the most pain on those who are already most vulnerable. This calamity could lead to a significant rise in income inequality. And it could jeopardize development gains, from educational attainment to poverty reduction. New estimates suggest that up to 100 million people worldwide could be pushed into extreme poverty, erasing all gains made in poverty reduction in the past three years. "Policymakers must do everything...

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11 Jun
COVID-19 News, Financing for Development/UN SDG's, Member News

AXA-IM: COVID-19, Has your workplace changed forever?

June 04, 2020 | • The COVID-19 crisis threatens long-lasting changes to the way we work. It is affecting employees and employers everywhere. • The impact so far has been considerable but varies sharply according to industry and country. The latest data show that half the global workforce is at risk of losing their livelihoods. • There are major concerns regarding the ongoing viability of companies, large and small. Some are in short-term survival mode – others are accelerating strategies to digitalise...

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11 Jun
Member News

GOP: COVID-19, Main amendments made by the Italian conversion law to the liquidity decree with respect to the measures aimed at ensuring the going concern of companies

June 11, 2020 | 1. Introduction Pursuant to Law no. 40 of 5 June 2020, published in the Official Gazzette no. 143 of 6 June 2020 (the “Conversion Law”), Law Decree no. 23 of 8 April 2020 (the “Liquidity Decree”) was converted into law with amendments. Below is a summary of the key amendments made to Chapter II (Urgent Provisions to Ensure Going Concern) by the Conversion Law. 2. Six months postponement of the deadlines to comply with crisis settlement agreements (accordi di...

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11 Jun
Member News

RavenPack Sentiment Data Outperforms During Coronavirus Crisis

April 2020 | News sentiment can enhance alpha strategies, along with augmenting risk management models for downside protection during periods of crisis. Following a statistical approach, whereby we evaluate thousands of long-short random portfolios as a benchmark, we consider three significant drawdown periods: the Global Financial Crisis, the Chinese market selloff of 2015-16, and the 2020 Coronavirus crisis. We find supporting evidence that: • Sentiment-based strategies consistently outperform random portfolio strategies during the three crisis periods, showing strong statistical significance. • A...

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11 Jun
Chapter News

EACCNY #COVID19 Impact Stories from Our Members – Richards Kibbe & Orbe

Together with our members we are creating a Video series of first-hand accounts of the Pandemic’s impact, both personally & professionally. We invite you to join us today for a first-hand look at the impact of the global shutdown following the Coronavirus (COVID-19) outbreak – Today we are featuring James Walker, Partner, Richards Kibbe & Orbe a EACCNY member. The questions we asked our members for this series are: 1) What are some challenges you, personally and your organization have faced? 2) What...

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11 Jun
Chapter News

ESMA renews its decision requiring net short position holders to report positoins of 0.1% and above

June 11, 2020 | The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has renewed its decision to temporarily require the holders of net short positions in shares traded on a European Union (EU) regulated market to notify the relevant national competent authority (NCA) if the position exceeds 0.1% of the issued share capital. ESMA considers that its renewed measure will maintain the ability of NCAs to deal with any threats to market integrity, orderly functioning of markets and financial...

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11 Jun
Chapter News

2020 Blue Economy Report: Blue sectors contribute to the recovery and pave way for EU Green Deal

June 11, 2020 | Today, the European Commission published “The EU Blue Economy Report 2020”, providing an overview of the performance of the EU economic sectors related to oceans and the coastal environment. With a turnover of €750 billion in 2018, the EU blue economy is in good health. There were also 5 million people working in the blue economy sector in 2018, representing a significant increase of 11.6% compared to the year before. Although sectors such as coastal and...

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11 Jun
Chapter News

Coronavirus: Commission recommends partial and gradual lifting of travel restrictions to the EU after 30 June, based on common coordinated approach

June 11, 2020 | Today the Commission recommends to Schengen Member States and Schengen Associated States to lift internal border controls by 15 June 2020 and to prolong the temporary restriction on non-essential travel into the EU until 30 June 2020; and sets out an approach to progressively lifting the restriction afterwards. Given that the health situation in certain third countries remains critical, the Commission does not propose a general lifting of the travel restriction at this stage. The restriction should be lifted...

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10 Jun
Chapter News

Shaping Europe’s digital future – Council adopts conclusions

The Council adopted conclusions today on shaping Europe’s digital future, addressing a wide range of issues related to the implementation of the EU digital strategy. The areas covered by the conclusions range from connectivity, digital value chains and eHealth to the data economy, artificial intelligence and digital platforms. The text also highlights the impact of the digital transformation on fighting the pandemic, and its critical role in the post-COVID-19 recovery.  "The COVID-19 pandemic and its consequences on our lives and economies...

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10 Jun
Member News

EU Finance Ministers welcome rapid EIB response to COVID-19 crisis

• EIB highlighted as key to mitigating economic and social impact of COVID • President Hoyer confirms COVID response and climate action priorities for year ahead • Slovakian Finance Minister Eduard Heger to be new chair of EIB Board of Governors European finance ministers today welcomed the European Investment Bank’s EUR 240 billion rapid response to mitigate the impact of the COVID-19 crisis across Europe and around the world. EIB COVID-19 response strengthening business resilience, research and public health At the Annual Meeting of...

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