28 Feb
Chapter News, News

ESMA TRV: Political uncertainty Amid Growth Slowdown Weighs on Market Sentiment

EU financial markets are increasingly nervous, reflected in rising volatility, the European Securities and Markets Authority (ESMA) said today in its latest Trends, Risks, and Vulnerabilities (TRV) Report (No 1.2019). Uncertainty related to Brexit, amid weakening growth prospects, global trade tensions, and reduced global monetary policy stimulus have contributed to market risk remaining very high. The fourth quarter of 2018 saw increasing volatility on equity and sovereign bond markets, a decrease in equity prices, continued repricing on corporate and sovereign bond...

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27 Feb
Brexit News, Chapter News, News, Uncategorized

Implications for Business and Trade of a No Deal Exit on 29 March 2019

Produced by the Cabinet Office, HM Government  26 February 2019 Summary The Government’s primary aim is to ensure that the UK leaves the EU on 29 March with a negotiated deal which will honour the result of the referendum. However, as a responsible government, it continues to plan for all eventualities, including one in which the UK leaves the EU without a deal. Guidance for businesses and citizens on how to prepare for a no deal scenario can be found on the Government’s Exit guidance website, www.gov.uk/EUExit. Over...

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27 Feb
Member News

Important Update: White House Delays Tariffs Increase on Chinese Imports

The White House is extending the March 1 deadline to increase tariffs on Chinese imports, citing “substantial progress” in trade talks with China. While the news is positive, The Toy Association will continue to be actively engaged in the fight against tariffs through advocacy efforts with the Administration and Congress, and its involvement with the Tariffs Hurt the Heartland coalition. On Sunday, President Trump said in a series of tweets: “I am pleased to report that the U.S. has made substantial...

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27 Feb
Member News

New Italian law on business crisis and insolvency published on the Official Gazette

By Tommasso Foco & Ginevra Sforza On 14 February 2019 the new Italian law on business crisis and insolvency (“Codice della crisi di impresa e dell’insolvenza”) has been published on the official gazette. While the bulk of the sections of the Code on business crisis and insolvency will become effective on 15 August 2020 (18 months from the publication), few sections will enter into force on 16 March 2019 (30 days from the publication). Among these are the provisions amending certain sections of...

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27 Feb
Member News

Top 10 challenges of doing business in Germany

One of the most attractive business destinations in the world and Europe’s top FDI country, Germany is known for being a secure and rewarding investment location. But doing business in Germany can still be a challenge for those unfamiliar with the local requirements. Germany is the biggest economy in Europe and the fourth-largest in the world. Built on research, innovation and its ability to attract foreign direct investment (FDI), around 80,000 foreign companies are doing business in the country, employing...

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27 Feb
Brexit News, Member News

Brexit: the Luxembourg emergency legislation

By PHILIPPE DUPONT, GLENN MEYER, MARC MOUTON, CLAUDE NIEDNER,  FLORENCE STAINIER and PIERRE-MICHAËL DE WAERSEGGER On 31 January 2019, the bill of law n°7401 (the “Bill”) was issued on measures to be taken in relation to the financial sector in case of the withdrawal of the United Kingdom (“UK”) and North Ireland from the European Union (“EU”) (“Brexit”).   Said Bill relates to the scenario where, on 29 March 2019, no withdrawal agreement has been entered into between the UK and the EU (“No-deal...

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27 Feb
Chapter News, News

European Commission – Fact Sheet European Semester 2019: Winter Package explained

Brussels, 27 February 2019 European Semester 2019: Winter Package explained. What does today's package include? Today, the Commission publishes: 28 Country Reports, including in-depth reviews (IDRs) for 13 countries identified in the Alert Mechanism Report of November 2018 A Communication on the main findings of the Country Reports including a new categorisation of countries under the Macroeconomic Imbalances Procedure (MIP) An Opinion on the 2019 Draft Budgetary Plan (DBP) of Slovenia The second Enhanced Surveillance Report for Greece The Annual Work Programme...

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26 Feb
Brexit News, Chapter News, News, Uncategorized

VIDEO: A second Brexit referendum is back on the table. What might be on the ballot?

  Jeremy Corbyn, leader of Britain’s opposition Labour Party, announced today that he was prepared to back a second referendum on Brexit. A People’s Vote would give Britons a chance to state their views with far greater knowledge than they had at the time of the 2016 referendum, but the question of what should be on the ballot would itself be highly divisive. Agreeing on the form a referendum should take would do nothing to calm Brexit tensions. Compliments of The...

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26 Feb
Member News

European Parliament approves framework for screening of foreign direct investments into the EU

On 14 February 2019 the European Parliament approved an European wide framework for the screening of foreign direct investments into the EU (the Regulation). The Regulation will enter into force 18 months after it has been adopted by the European Council and officially published, which is expected to occur on 5 March 2019. In the interim period, EU Member States must implement the relevant procedures to effectuate the mechanisms under the Regulation. The Regulation will enable cooperation between EU Member States...

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