18 Jul
Chapter News

IMF | Europe Can Better Support Venture Capital to Boost Growth and Productivity

Reforms could increase investment in high-tech startups that power innovation Blog post by Nathaniel Arnold, Guillaume Claveres, Jan Frie | The European Union has a productivity problem. Its people produce nearly 30 percent less per hour worked than they would have, had real output per hour worked increased in line with that in the United States since 2000. A failure to sufficiently develop innovative startups into “superstar” firms is one of the reasons for the bloc’s poor productivity growth. Europe’s fragmented economy and financial system...

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18 Jul
Member News

Bannockburn Global Forex | Euro Trades Quietly Ahead of ECB Meeting

Jury duty assignment prevents a more comprehensive note, but here is a snapshot.  Overview: The US dollar enjoys a firmer bias today, in mostly quiet turnover in narrow ranges. The Australian dollar is a noted exception, and the better than expected jobs growth may have lent it some resilience today. The greenback initially was sold to almost JPY155.35, a new low (since June 7) before recovering to nearly JPY156.60 in Europe. The UK's employment report saw the first payroll growth in...

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18 Jul
New York Related News

New York State Governor | Governor Hochul Announces Start of Construction on New York’s Largest Offshore Wind Project

924-Megawatt Sunrise Wind to Power Approximately 600,000 Homes Once Completed in 2026 New York’s Fifth Offshore Wind Solicitation Now Open with Proposals Due September 9 Governor Hochul today announced the start of construction on New York’s largest offshore wind project, Sunrise Wind, a 924-megawatt project developed by Ørsted. Once completed, the project will provide enough clean energy to power approximately 600,000 New York homes. Building on New York’s 10-Point Action Plan, the Governor also announced the issuance of New York’s fifth offshore...

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18 Jul
Member News

Pérez-Llorca | Insurance Market Update

BBVA’s takeover bid for Sabadell would ultimately impact existing bancassurance partnerships with Allianz and Zurich respectively In early May, the Spanish bank BBVA made an initial all-share offer for Sabadell to merge, which was rejected by Sabadell’s board, prompting BBVA to turn hostile and take the offer directly to Sabadell’s shareholders. BBVA’s bid is subject to a minimum acceptance threshold of 50.01% of Sabadell’s shareholders in addition to the relevant regulatory approvals required for both the takeover bid and the...

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16 Jul
Member News

Stephenson Harwood | The Neural Network – July 2024

Welcome to the first edition of the Neural Network. The Neural Network is Stephenson Harwood's monthly round-up of developments in AI, covering three key areas relevant to professionals working in the AI space: New regulation and public body updates; Enforcement and litigation; and Updates and case studies on the use of AI technology. In this edition, we look at key AI developments from June and July 2024. We examine the final text of the EU AI Act that was recently...

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16 Jul
Chapter News

IMF | Global Growth Steady Amid Slowing Disinflation and Rising Policy Uncertainty

Blog post by Pierre-Olivier Gourinchas | Our global growth projections are unchanged at 3.2 percent this year and slightly higher at 3.3 percent for next year, but there have been notable developments beneath the surface since the April World Economic Outlook. Growth in major advanced economies is becoming more aligned as output gaps are closing. The United States shows increasing signs of cooling, especially in the labor market, after a strong 2023. The euro area, meanwhile, is poised to pick...

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15 Jul
Member News

Pérez-Llorca and Mexican law firm González Calvillo complete their merger

The partners of both firms have voted in favour of the merger at their respective meetings, and the relevant regulatory approvals have been obtained The integration is the first cross-border merger between a leading Iberian law firm and a top-tier Mexican practice The project aims to create the leading legal practice in Mexico, serving clients on both sides of the Atlantic, large multinationals and financial sponsors, as well as other international law firms Pérez-Llorca and González Calvillo have completed...

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15 Jul
Member News, Trade & TTIP Related

Jaguar Freight | The Weekly Roar – Ocean rates surging, shippers rushing for Christmas, Panama Canal upgrades, more maritime regulation, and pressures on manufacturing.

Ocean shipping rates are surging, and the current trend indicates record profits for shipping companies in the third quarter of 2024. Industry benchmarks show a substantial increase compared to pre-pandemic levels, though they haven’t quite reached the all-time highs observed in September 2021. The trend is mostly driven by ongoing disruptions in the global supply chain—high demand for goods, ongoing port congestion, geopolitical tensions, and labor shortages—which are causing a shortage of containers and an imbalance in demand for...

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15 Jul
Member News

IPTI | Property Tax In The News – July 2024

IPTI’s usual monthly newsletter - the “President’s Message” - contains, inter alia, some summarised news articles from around the world. This IPTI publication - “Property Tax in the News” - contains some of the more interesting news articles concerning property taxes in North America and Europe which is where many of our members have a particular interest. Links to these and more, similarly summarised, articles - from North America, Europe and around the globe - can be found in...

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12 Jul
Member News

Vulcan View: The latest EU developments 8 July – 12 July

Dissecting the results of the French election’s second round Round two of the French elections on Sunday, 7 July saw France faced with potential political deadlock after no party secured an absolute majority. All three blocs fell short of the 289 seat threshold needed to control the 577-seat National Assembly. Neither the major setback for Le Pen’s National Rally (RN), nor the left-wing coalition’s surprise didn’t prove President Macron´s intention right to create political stability by calling for a snap election. Without...

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