30 May
Member News

DSM links Green House Gas emission reduction to interest rate in new €1 billion Revolving Credit Facility

Royal DSM, a global science-based company active in health, nutrition and materials, today announces that it has successfully concluded a new €1 billion Revolving Credit Facility that links the interest rate of this Facility to DSM’s Green House Gas (GHG) emission reduction. The deal was concluded with a syndicate of 15 banks and replaces two existing Revolving Credit Facilities of in total €1 billion, maturing in 2018 and 2020. For DSM sustainability is a core value, a key responsibility and an...

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29 May
Member News

Let’s Try to Make Sense of the Euro

  By Andrew C. Collins, Managing Partner |Bannockburn Global Forex, LLC   The Euro:   While most of us were grilling hot dogs and burgers or setting off fireworks or boating or sunning at the pool, global markets were open and active, and it was a pretty ugly (oxymoron intended) few days for the euro.  Political concerns in Italy (I’ll come back to this later) sent the euro sharply lower, extending and accelerating its recent losses.  EURUSD touched 1.1506 overnight, down from its Friday open...

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24 May
Chapter News

EU Commission proposes new measures to further strengthen the Capital Markets Union and the Banking Union

Τhe European Commission put forward today a package of proposals to further strengthen the Capital Markets Union and the Banking Union. The new measures consist of four parts: risk-reduction rules that will allow market-led solutions for the development of sovereign bond-backed securities (SBBS), first tangible measures to allow the financial sector become a powerful actor in fighting climate change, new rules that will make it easier for smaller businesses to get financing through capital markets and strengthened EU rules...

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24 May
Member News

Update on Property Tax Issues: May 2018

The EACCNY, in partnership with the International Property Tax Institute (IPTI), wants to keep members up to date with the latest developments in property taxes both in the USA and Europe. IPTI has put together a selection of brief reports from articles contained in IPTI Xtracts which can be found on its website (www.ipti.org). As far as Europe is concerned, this month’s report includes articles on Greece, Ireland, Italy, Turkey and the United Kingdom. There is a separate IPTI report on...

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24 May
Member News

Tradewind Provides Vendor Finance Program to UK-Based Fashion Brand and Retailer

Tradewind closed a 2 million GBP reverse factoring facility for a reputable UK-based fashion brand and retailer that sells menswear, womenswear, and accessories. Having office locations that intersect with the client’s suppliers in China, Turkey and Europe, Tradewind provides faster funding to the suppliers and the UK retailer also benefits from lower borrowing costs. As a result, Tradewind is instrumental in lowering the retailer’s operating costs and in better managing its sourcing needs. It provides financing for sales made...

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23 May
Member News

Unintentional Discrimination? What Every Employer Needs to Know About Disparate Impact Claims

By Sarah Smith Kuehnel (St Louis), Harrison C. Kuntz (St Louis), R. Lance Witcher (St Louis) | Ogletree Deakins We all know (or should know) that Title VII of the Civil Rights Act and other discrimination laws prohibit intentional discrimination “because of” protected characteristics like race, age, gender, or disability. We can easily imagine instances of intentional discrimination—a sexist manager refusing to hire female applicants, a racist boss refusing to promote qualified African Americans, and the list goes on.  Many employers do...

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21 May
Member News

Investment Plan for Europe: EIB Group and CaixaBank provide EUR 250m under the InnovFin programme to finance projects led by female entrepreneurs

The European Investment Bank (EIB) Group and CaixaBank have signed a new agreement to support the projects of innovative small and medium-sized enterprises (SMEs) in the process of going global. The new EUR 250m credit line will focus on providing financing for projects led by female entrepreneurs wishing to develop innovation-based investments. This agreement has enabled the European Investment Fund (EIF) – the EIB Group subsidiary specialising in support for micro-enterprises and SMEs – to grant a EUR 125 million guarantee to CaixaBank, which...

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21 May
New York Related News

New York City Launches New Initiative to Help Women Succeed

By Amanda Arnold   On Wednesday morning, New York City First Lady Chirlane McCrayand Deputy Mayor Alicia Glen launched women.nyc, a new online portal through which women can access the resources they need to achieve personal and professional success.   At a roundtable the day before, McCray and Glen spoke about New York City’s track record of helping working women: The city has the highest number of women CEOs and the smallest wage gap in the country, and local government has reportedly invested approximately $800 million in women-owned businesses in...

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18 May
Member News

Mandatory U.S. Department Of Commerce BEA 12 Benchmark Survey

By AEM Carnelutti  Pursuant to 15 CFR 801.3, 801.10, the U.S. Department of Commerce’s Bureau of Economic Analysis (“BEA”) has issued a mandatory five-year benchmark survey to obtain data on foreign direct investment (“FDI”) in the United States. The information collected on the survey is confidential and will be used for statistical purposes only. The survey, known as the BE-12 survey, is required for U.S. entities in which a foreign individual or entity holds, directly or indirectly, 10 percent or more...

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18 May
Member News

The weekly Vulcan View for the 14th to the 18th of May featuring analysis of the latest EU developments

KEY EVENTS THIS WEEK: BREXIT UK considers EU customs rules extension as ‘’bridge’’ to future eventual arrangement The British government is developing plans to stay within the EU customs union beyond 2021 in order to act as a ‘’bridge’’ to an eventual future customs system and prevent a hard border emerging on the island of Ireland.  This temporary scheme would mean that rather than the UK moving immediately to a post-Brexit customs scheme at the end of the transition period on the...

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