05 Nov
Chapter News

DoC | Commerce Data Show Strong Economic Gains Due to Americans Making and Spending More

The U.S. Commerce Department’s Bureau of Economic Analysis (BEA) reported last week that real gross domestic product (GDP) increased at an annual rate of 2.8 percent in the third quarter of 2024. Growth was in large part due to Americans making and spending more. Consumer spending increased 3.7%, the most since early 2023, thanks to rising incomes. The economy has grown 12.6% under the Biden-Harris Administration, with the lowest average unemployment of any Administration in 50 years, and 16 million jobs created. This demonstrates...

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05 Nov
Chapter News

European Council | Artificial intelligence (AI): Council approves conclusions to strengthen EU’s ambitions

Today, the Council approved conclusions on a European Court of Auditors’ (ECA) report aiming to strengthen EU’s AI ambitions, notably by enhancing governance and ensuring an increased, more focused investment when moving forward in this field. The Council agrees with the Court’s conclusion that the EU must scale up investments in AI and facilitate access to digital infrastructure to be a globally competitive actor with a global impact, assume leadership in the development and deployment of AI, foster talent and create an ecosystem of excellence and...

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05 Nov
Member News

Wilson Sonsini | CFPB Releases Final Open Banking Rules: Key Takeaways for Fintech Companies

On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) announced its long-awaited final rule on “Personal Financial Data Rights” (the Final Rule). The Final Rule implements Section 1033 of the Dodd-Frank Act, which provides consumers the right to access and port their financial information between banks and other financial entities. For an analysis of the proposed rule, please see our analysis here. The Final Rule aims to spur greater choice and increase competition by requiring “data providers” to make consumer’s financial data accessible to...

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04 Nov
Chapter News

ECB | The digital euro: what’s in it for you?

By Piero Cipollone | As they juggle various cards, apps and devices, most Europeans find that digital payments have fallen short of their promise to provide a convenient euro area-wide solution. The ECB’s Piero Cipollone explains how a digital euro would blend the simplicity of cash with digital convenience. Twenty-five years ago, the introduction of the euro transformed Europe. For the first time, people in different countries were using the same banknotes and coins. Who would have thought that the...

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04 Nov
Chapter News, New York Related News

New York State Governor | Governor Hochul Announces More Than $435 Million in State Grants for Local Water Infrastructure Improvements

Delivers on Governor Hochul’s 2024 State of the State Initiatives To Help Small, Rural and Disadvantaged Communities With Their Water Infrastructure Needs Funding Awarded Across New York State in All 10 Economic Development Regions Enhanced Awards for 32 Projects in Small, Rural Communities   Governor Kathy Hochul today announced that more than $435 million is being awarded to 102 critical water infrastructure projects across New York State through the Water Infrastructure Improvement and Intermunicipal Grant programs. The grants awarded by...

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04 Nov
Chapter News

World Bank | October 2024 Commodity Markets Outlook

Executive Summary: Commodity prices are expected to decrease by 5 percent in 2025 and 2 percent in 2026, after softening 3 percent this year. This would lead aggregate commodity prices to their lowest levels since 2020. The projected declines are led by oil prices but tempered by price increases for natural gas and a stable outlook for metals and agricultural raw materials. The Brent crude oil price is projected to average $80/bbl in 2024, before slipping to $73/bbl in 2025...

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04 Nov
Member News, Trade & TTIP Related

Jaguar Freight | The Weekly Roar – The Red Sea and shipping costs, a 2025 outlook for container shipping, a data-driven approach for resilience, the evolving truckload market, and a settlement in Baltimore.

New data from a UN trade and development body highlights the impact of the Houthi attacks in the Red Sea. By breaking down the metrics affecting rising shipping costs, we gain some insight into just how much can be attributed to the Houthi campaign. At a percentage change of just over 160% in costs between October 2023 and June 2024, about 140% can be blamed on the Red Sea crisis. Unfortunately, this is a problem that persists with no imminent...

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01 Nov
Member News

Vulcan View: The latest EU developments 28 October – 1 November

“Safer Together”: the Niinistö report on EU preparedness and security The European Union faces an increasingly complex landscape of security challenges—from hybrid warfare tactics and climate crises to military threats along its borders. In response to these emerging concerns, former Finnish President Sauli Niinistö -who led his country’s bid to become a NATO member- unveiled on Wednesday (30 October) a comprehensive 164-page report on the European Union’s civilian and military preparedness. The report, titled Safer Together: Strengthening Europe’s Civilian and Military...

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01 Nov
Member News

Curl Translations Granted Women’s Business Enterprise Council (WBEC) and Women-Owned Small Business (WOSB) Certification

Jacksonville, FL – Curl Translations, a boutique language services company offering translation and language-related services in over 60 language combinations, is proud to announce that it has officially been certified as a Women-Owned Business by the Women’s Business Enterprise Council (WBEC). It has also received its Women-Owned Small Business (WOSB) certification from the Federal Contract Program of the United States. This certification underscores Curl Translations’ commitment to supporting the network of women-owned businesses in today’s global marketplace. For over 12...

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31 Oct
Member News

Linklaters | Fewer Cases, Faster Results: CFIUS’s 2023 Annual Report to Congress

The Committee on Foreign Investment in the United States (CFIUS), the interagency U.S. government body responsible for most national security reviews of inbound foreign investments, is required by law to provide an annual report to Congress on its activities from the previous year. Last week, CFIUS released its annual report to Congress covering activities from calendar year 2023. Here are the main things we learned, including our unique analysis of the statistics reported by CFIUS.   Fewer filings, but more are...

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