30 Jul
Member News

Sika | Further Expansion of Market Share – Sika Posts Record Results in First Half of the Year

Sales of CHF 5,834.8 million (+9.2% in CHF) in first half of the year Sales increase by 12.8% in local currencies, negative foreign currency impact of -3.6% Material margin expands to 55.1% (first half of 2023: 52.7%) EBITDA margin jumps to 18.7% (first half of 2023: 16.5%) Operating profit before depreciation and amortization (EBITDA) of CHF 1,092.9 million (previous year: CHF 881.1 million) Successful integration of MBCC with raised synergy guidance for the year (CHF 100 – 120...

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29 Jul
Member News

ING appoints Daniele Tonella as chief technology officer and member of the Management Board Banking

ING today announced the appointment of Daniele Tonella as chief technology officer (CTO) and member of the Management Board Banking, effective 5 August 2024. He will succeed Marnix van Stiphout who has held the role ad interim since 1 November 2023, in addition to his roles as chief operations officer and chief transformation officer. Daniele Tonella (Swiss) has over 20 years of experience in technology leadership roles in the financial industry and is currently active in advisory and board roles...

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29 Jul
Member News, Trade & TTIP Related

Jaguar Freight | The Weekly Roar – A renewed focus on contingency planning, a Red Sea update, declining truck tonnage, new FMC regulations, and companies voluntarily reporting emissions

The fallout from the CrowdStrike outage highlighted the fragility of several industries and supply chains. Even though the outage impacted a mere 1% of Windows devices, the disruption had huge economic and logistical consequences, emphasizing the need for higher standards in managing third-party computer updates, especially since the time it takes to recover can be much greater than the time of the actual incident. The event has experts calling for improved resiliency and contingency planning. The threat to commercial shipping in...

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29 Jul
Chapter News

ECB | Working Paper Series: Beyond borders: how geopolitics is reshaping trade

Abstract Rising trade tensions, a spate of trade-inhibiting policy measures and a weakening of multilateral institutions have sparked a growing concern about the potential implications of global trade fragmentation. Yet, empirical evidence that geopolitical considerations are already materially affecting trade flows is scant. In this study, we quantify the impact of geopolitical tensions on trade of manufacturing goods over the period 2012-2022 in a structural gravity framework. To capture the influence of geopolitical tensions, we use a measure of...

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26 Jul
Member News

Vulcan View: The latest EU developments 22 July – 26 July

New ecodesign for sustainable products rules enter into force As of this week, new EU rules on ecodesign for sustainable products, setting out strict requirements and consumer information to almost all categories of physical goods have entered into force. The cornerstone of the Commission’s approach to more sustainable goods, it aims to significantly improve these products’ circularity, energy performance, and other environmental sustainability aspects. It will replace the existing Ecodesign Directive and is part of a package of measures to...

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26 Jul
Member News

Littler | The Global Guide Quarterly

Littler published their Q2 Global Guide newsletter on July 24. Select US and European highlights are below. You can read the full guide here.   Austria New Teleworking Law New Legislation Enacted Authors: Patricia Dasch, Associate, and Armin Popp, Attorney-at-Law – Littler Austria During the COVID-19 pandemic the conditions for home offices were regulated by law for the first time. Austria’s Parliament has now passed the Teleworking Act intended to improve conditions for working from home, which will go into effect on January 1, 2025....

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24 Jul
Member News

PwC | 2024 Mid-Year Outlook: Global M&A Trends in Health Industries

M&A will continue to be a critical tool to unlock value and drive innovation across health industries as dealmakers gear up for a busy second half of 2024. By Christian K. Moldt, Global Health Industries Deals Leader, Partner, PwC Germany | Dealmakers in pharmaceuticals and life sciences and in healthcare services are eager to get deals done in 2024 as they grow more comfortable navigating an environment of elevated interest rates and regulatory pressure. Competition for truly innovative assets remains...

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23 Jul
Chapter News

European Commission | Ursula von der Leyen – Europe’s Choice: Political Guidelines for the Next European Commission

Campaigning across Europe ahead of this year’s European elections was a reminder of what makes our Union what it is. Almost 500 million people with such disparate cultures, complex histories and differing perspectives all coming together at the same time to articulate their wish for an entire Union of 27 countries. In casting their vote they also help to build a shared European identity – all of this bound together by our rich and varied cultural tapestry. This is...

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23 Jul
Chapter News

ECB | Repo markets: Understanding the effects of a declining Eurosystem market footprint

Blog post by Svetla Daskalova, Federico Maria Ferrara, Pedro Formoso da Silva, Pamina Karl and Thomas Vlassopoulos | Repo markets are vital for banks to source liquidity and securities. They also represent an essential link in the monetary policy transmission chain. While the Eurosystem is in the process of reducing its market footprint, repo markets are going through a phase of change. The ECB Blog looks at dynamics in this market. Monetary policy and repo markets are closely connected. The...

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23 Jul
Chapter News

IMF | A Low-Growth World Is an Unequal, Unstable World

Long periods of slow economic growth can cause a jump in inequality. But a balanced set of policies can stave off that outcome. Blog post by Kristalina Georgieva, Managing Director of the IMF | The global economy is stuck in low gear, which could deal a major blow to the fight against poverty and inequality. Group of Twenty finance ministers and central-bank governors gathering this week in Rio de Janeiro face a sobering outlook. As the IMF’s latest World Economic Outlook update shows,...

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