01 Jun
Chapter News

EU Budget: A Reform Support Programme and an Investment Stabilisation Function to strengthen Europe’s Economic and Monetary Union

For the next long-term EU budget 2021-2027, the Commission proposes to create a Reform Support Programme and a European Investment Stabilisation Function. Both proposals are part of the broader agenda to deepen Europe's Economic and Monetary Union and make use of the EU budget to strengthen the performance and resilience of our interdependent economies. The proposals combine the key principles of solidarity and responsibility at all levels and deliver on the commitments made by President Juncker in his 2017 State of the...

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31 May
Member News

Getting the Snaps and Tweets into Evidence

By Matthew J. Hamilton, Donna L. Fisher, Jessica K. Southwick | Pepper Hamilton  Litigants who proffer data obtained from social networking sites like Facebook, Twitter and Instagram must authenticate that data before it will be admitted as evidence. Nearly all jurisdictions have a rule of evidence addressing authentication of exhibits and records, many of which mirror Rule 901(a) of the Federal Rules of Evidence. Courts have not agreed, however, on how to satisfy the requirements of Rule 901(a) for social media evidence. Recently, in Commonwealth v....

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31 May
Chapter News, Trade & TTIP Related

European Commission reacts to the US restrictions on steel and aluminium affecting the EU

The US announced that starting on 1 June 2018 it will impose additional duties of 25 % and 10 % respectively on imports of steel and aluminium from the EU. President of the European Commission, Jean-Claude Juncker said: "I am concerned by this decision. The EU believes these unilateral US tariffs are unjustified and at odds with World Trade Organisation rules. This is protectionism, pure and simple. Over the past months we have continuously engaged with the US at all possible levels to...

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31 May
Chapter News

Long-term EU Budget

Mobilising EU budget in support of stability, convergence and cohesion in the euro area and the EU as a whole For the next long-term EU budget 2021-2027, the Commission proposed today to create a Reform Support Programme and a European Investment Stabilisation Function. Both proposals are part of the broader agenda to deepen Europe's Economic and Monetary Union and make use of the EU budget to strengthen the performance and resilience of our interdependent economies. The proposals combine the key principles of...

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30 May
Chapter News

Financial Union: Commission launches risk reduction proposal to enable sovereign bond-backed securities

The Commission is today proposing new rules that will allow market-led solutions to support further integration and diversification within Europe's financial sector, leading to a stronger and more resilient Economic and Monetary Union. Today's proposal will remove unwarranted regulatory obstacles to the market-led development of sovereign bond-backed securities (SBBS). These securities would be issued by private institutions as claims on a portfolio of euro-area government bonds. SBBS would, by design, not involve mutualisation of risks and losses among euro area...

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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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