03 Jun
Chapter News, News

OECD: International community agrees on a road map for resolving the tax challenges arising from digitalisation of the economy

May, 31, 2019 The international community has agreed on a road map for resolving the tax challenges arising from the digitalisation of the economy, and committed to continue working toward a consensus-based long-term solution by the end of 2020, the OECD announced today. The 129 members of the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) adopted a Programme of Work laying out a process for reaching a new global agreement for taxing multinational enterprises. The document, which calls for...

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03 Jun
Chapter News, News

European Commission clears two large acquisitions under the EU Merger Regulation

June 3, 2019 The European Commission has cleared the acquisition of a joint venture by VW Group, Intel and Allied Holdings, and the acquisition of Euroports by MRG, PMV and SFPI-FPIM. Commission clears acquisition of a joint venture by VW Group, Intel and Allied Holdings: The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of a newly created joint venture by Volkswagen Finance Luxembourg S.A. (“VWFL”) of Luxembourg, Mobileye Vision Technologies Ltd. (“Mobileye”) and Champion...

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03 Jun
Member News

Tax Challenges of the Digitalisation of the Economy – new OECD work programme

On 31 May 2019, the OECD published its programme of work for developing a solution to the tax challenges arising from the digitalisation of the economy (Programme of Work). The Programme of Work will explore technical issues in line with the ‘two-pillar’ approach set out in the OECD policy note of 29 January 2019 (see our tax flash here) and the OECD public consultation document of 13 February 2019 (see our tax flash here). Pillar One seeks to develop new profit allocation...

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03 Jun
Member News

Bannockburn Global Forex Update: June FX Outlook

June 2019 FX Outlook The tariff truce came to an abrupt end via presidential tweets on May 3.  Until those tweets, US officials had been indicating that progress was being made and there was hope that at the sidelines of the G20 meeting that Trump and Xi would agree on a trade deal.  The end of the tariff truce marked a turning point in the markets. Risk appetites were reduced.  Equities and yields fell.   The dollar eased in the first...

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31 May
Member News

European Court of Justice: Employers Obligated to Systematically Record Working Time

By André Zimmermann and Marianna Karapetyan | Orrick  According to a recent decisions of the European Court of Justice (ECJ) (May 14, 2019 – C‑55/18), the Member States of the EU must oblige employers to systematically record the working time of their employees. Only in this way can it be ensured and enforced that the working time rules are observed and that the intended health protection of the employees is guaranteed. Background The Spanish trade union, Federación de Servicios de Comisiones Obreras (CCOO), brought...

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31 May
Chapter News

Maurice MARCHAND-TONEL, President of the EACC Paris from 1997 to 2017, passed away on May 1, 2019 in Miami.

Maurice MARCHAND-TONEL, President of the EACC Paris from 1997 to 2017, passed away on May 1, 2019 in Miami. His funeral took place on May 28th in Paris. Maurice was the heart and soul of EACC network. Without his forward thinking & drive to create the network in 2005 in France the EACC would have never come to live. Maurice is with us in our hearts & in spirit as we are continuing to grow the network across Europe and within the...

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31 May
Member News

The Weekly Vulcan View | Analysis of Latest EU Developments May 27 – 31

Key Events This Week Race on for the European Commission Presidency The race for the top jobs in the European Institutions has begun. The special summit of the European Council was held in Brussels on Tuesday – the first meeting where leaders tried to push their preferences for the top job in the executive branch of the European Union. Manfred Weber, supported by Angela Merkel, is the Spitzenkandidat for the Conservative European People’s Party (EPP). The self-confessed ‘man of parliament’ does...

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30 May
Member News

ACG Resources recognized on the Forbes list of  America’s Best Executive Recruiting Firms -2019

For the second year in a row, ACG Resources has been recognized on the Forbes list of  America's Best Executive Recruiting Firms -2019   Collecting intensive marketing data, Forbes, Inc. set out to identify the most well-respected and productive recruiters throughout the country. Compiling a list of 250 firms, ACG was proudly named among the best recruiting firms based on recommendations from thousands of recruiters, professionals, and hiring managers.   With an industry filled with over 20,000+ firms, this is truly an honor...

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29 May
Chapter News, Financing for Development/UN SDG's, News

The European Commission, European Investment Bank and Breakthrough Energy Ventures establish a new €100 million fund to support clean energy investments

Brussels, 29 May 2019 Breakthrough Energy Ventures Europe (BEV-E), a new €100 million investment fund was established by the European Commission, the European Investment Bank and Breakthrough Energy Ventures during the Fourth Mission Innovation Ministerial meeting in Vancouver, Canada.           The fund will help develop innovative European companies and bring radically new clean energy technologies to the market. It will support Europe's best clean energy entrepreneurs whose solutions can deliver significant and lasting reductions in greenhouse gas emissions. The first of...

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29 May
Chapter News, News

Digital Single Market: European Commission publishes guidance on free flow of non-personal data

Brussels, 29 May 2019 Today, the European Commission published a new guidance on the interaction of free flow of non-personal data with the EU data protection rules. As part of the Digital Single Market strategy, the new Regulation on the free flow of non-personal data, which has started to apply in the Member states, will allow data to be stored and processed everywhere in the EU without unjustified restrictions. Today's guidance aims to help users – in particular small and...

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