22 Jul
Member News

Modernizing EU Competition Policy: Will the EU’s Angst with Chinese State-Owned Companies Help U.S. Tech Firms off the European Commission’s Hook?

During her five-year term as European commissioner for competition, Margrethe Vestager has earned a reputation for going hard after U.S. tech companies. This position had traction in certain European political circles and, with the support of the French government, meant she was a leading candidate for the position of commission president. Nevertheless, it was the German Ursula von der Leyen who was confirmed by the European Parliament on July 16, 2019 as new president of the commission, taking office...

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22 Jul
Member News

HSBC International Business Guides: United Kingdom

The UK’s universal language of business, highly skilled employees and wealth of opportunities across many thriving industry sectors position it as a hotbed for foreign investment. After opening our first office in London over 150 years ago, the UK has become home to the global headquarters of the HSBC Group, where an extensive branch network supports the needs of personal and business customers. The shape of this business in the UK continues to evolve, as our UK head office gets...

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22 Jul
Chapter News

European Wage Dynamics and Spillovers

By Yuanyan Sophia Zhang |  International Monetary Fund Wage rises have remained stubbornly low in advanced Europe in recent years, but, at the same time, newer EU members are experiencing rapid wage acceleration. This paper investigates the drivers of this wage divergence. Econometric analysis using error correction models suggests that wage growth responds more quickly to changes in unemployment in the newer EU members than in advanced Europe, where wages are more closely related to inflation and inflation expectations in the...

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22 Jul
Member News

J-1 Visa Application Now Requires Social Media Information

The U.S. Department of State announced last week that it has updated its immigrant and nonimmigrant visa application forms - including for J-1 visas - to request information about social media accounts. A drop-down list of social media platforms now appears on the Form DS-160 nonimmigrant application, as well the Form DS-260 immigrant visa application, according to NAFSA. Applicants are asked to list all usernames or handles used on those platforms over the past five years. Image courtesy of NAFSA The updated visa application also...

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19 Jul
Chapter News

Governments should renew efforts to reform support to agriculture

Governments worldwide provide more than USD 500 billion in often ineffective and trade distorting support to farmers each year, and efforts to reform these policies have largely stalled, according to a new OECD report. Agricultural Policy Monitoring and Evaluation 2019 shows that farm policies in the 53 countries studied in the report – all OECD and EU countries, plus 12 key emerging economies – provided on average USD 528 billion (EUR 465 billion) per-year of direct support to farmers during the...

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19 Jul
Member News

The Weekly Vulcan View | Analysis of Latest EU Developments 15-19 July

Key Events This Week Von der Leyen Secures Commission Presidency On Tuesday MEPs narrowly ratified Ursula von der Leyen as the new President of the European Commission – making her the first woman to fill the EU’s top job. The former German Defence Minister won ratification by a margin of just 9 votes. Von der Leyen pledged to put forward a “green deal for Europe” in her first 100 days in office, including legislating for net zero emissions by 2050 and...

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19 Jul
Brexit News, Member News

Brexit: important clarifications published by the CSSF

The CSSF has published on 15 July 2019 two press releases concerning mandatory notifications for UK firms as well as for UCIs and their managers in the context of Brexit. 1.Mandatory CSSF notification for UK firms in the context of Brexit On 15 July 2019, the CSSF issued a press release 19/33 regarding mandatory notification requirements applying to UK firms in the context of the withdrawal of the United Kingdom from the European Union. The CSSF reminds that firms that are currently...

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18 Jul
Chapter News

Antitrust: European Commission opens investigation into possible anti-competitive conduct of Amazon

The European Commission has opened a formal antitrust investigation to assess whether Amazon's use of sensitive data from independent retailers who sell on its marketplace is in breach of EU competition rules. Commissioner Margrethe Vestager, in charge of competition policy, said: "European consumers are increasingly shopping online. E-commerce has boosted retail competition and brought more choice and better prices. We need to ensure that large online platforms don't eliminate these benefits through anti-competitive behaviour. I have therefore decided to take a very...

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18 Jul
Brexit News, Member News

Brexit: CSSF informs UK entities of actions to be taken in anticipation of a hard Brexit

By Marc Meyers, Partner | Loyens & Loeff The CSSF issued two press releases reminding firms authorised in the United Kingdom as well as undertakings for collective investment (UCIs) and/or their managers established in the United Kingdom of the consequences of a hard Brexit and requiring them to notify the CSSF and/or apply for appropriate authorisation if they intend to continue their activities in Luxembourg after a hard Brexit. UK financial services firms as well as UCIs and/or their managers...

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18 Jul
Member News

Synthetic Reality & Deep Fakes: Considerations for Employers and Implications of the Rise of Deep Fakes in the Workplace

By Chase Perkins, Natalie Pierce, Aaron Crews, and Jill Weimer | Littler In an age where computer generated imagery (CGI) and digital effects enable entire film genres to exist, like Marvel’s superhero series the Avengers or Guardians of the Galaxy, audiences have no expectation that movies they consume depict actual events or reflect reality. It is therefore reasonable to assume that the context and forum of how digital media and information is communicated, observed and consumed informs our default expectations...

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