Today the European Commission publishes its first annual report on the functioning of the EU- U.S. Privacy Shield, the aim of which is to protect the personal data of anyone in the EU transferred to companies in the U.S. for commercial purposes. Andrus Ansip, Commission Vice-President for the Digital Single Market, said: "The Commission stands strongly behind the Privacy Shield arrangement with the U.S. Making international data transfers sound, safe and secure benefits certified companies and European consumers and businesses, including EU...

Read more

Today in Washington D.C., at a key debate on how to improve the functioning of the Eurozone and Europe’s economy as a whole, European Investment Bank President Werner Hoyer stressed the importance of investment in infrastructure and for a particular focus on creating the right conditions for young and innovative firms to thrive in Europe. He also said that the possibility of a new future relationship between the European Stability Mechanism and the EIB should be given “serious thought”. “Supporting...

Read more

Priorities: boosting renovations for more energy-efficient buildings supporting infrastructure for electrical vehicles in new buildings better monitoring of buildings energy performance to reduce costs New measures to ensure that all new buildings in the EU are as energy-efficient as possible by 2050 were agreed by the Industry and Energy Committee. Rules to channel the focus towards energy-efficiency and cost-effectiveness when existing buildings are renovated in the EU were approved on Wednesday by the Committee on Industry, Research and Energy (ITRE). This...

Read more

By Mario Draghi, President of the European Central Bank. Statement by Mario Draghi, President of the ECB, at the thirty-sixth meeting of the International Monetary and Financial Committee, Washington D.C., 13 October 2017 The euro area’s economic expansion, supported by the ECB’s monetary policy measures, continues to be firm and broad-based across countries and sectors. The economy has now expanded for 17 consecutive quarters, and at a faster than expected pace in the first half of this year. Over this period,...

Read more

European citizens and businesses will benefit from deeper financial integration and a more stable financial system, thanks to Commission plans to accelerate with the completion of the missing parts of the Banking Union. The Banking Union must be completed if it is to deliver its full potential in making the Economic and Monetary Union (EMU) more stable and resilient to shocks, while limiting the need for public risk sharing. This is beneficial for the entire Single Market. Building on the...

Read more

By Maureen Book, Research Analyst, SelectUSA  High-Tech Industry Employment Concentration, High-Tech Employment/All Employment, by Metro Area, 2015 Source: U.S. Census Bureau, 2015 County Business Patterns, Accessed July 6, 2017, factfinder.census.gov SelectUSA released its second industry-focused report: “High-Tech Industries: The Role of FDI in Driving Innovation and Growth” on Sept. 19. This report provides an in-depth look at high-tech clusters in the United States, and gives the first-ever analysis of the role of foreign direct investment (FDI) in high-tech industries. The report’s biggest takeaway is...

Read more

By Dr Andreas Dombret Member of the Executive Board of the Deutsche Bundesbank Speech given at New York University in New York. 11 October 2017   1   Introduction: Whither globalisation? Whither free mar- kets? Ladies and gentlemen It gives me great pleasure to be back in New York and at NYU. Today I want to talk about two things: chocolate and Nobel prizes. Stay with me for a moment. Some time ago, I stumbled upon a story that connected chocolate and Nobel prizes in a way...

Read more

Main results The Council adopted a directive introducing a new system for resolving double taxation disputes between member states. The directive strengthens the mechanisms used to resolve disputes between member states that arise from the interpretation of agreements on the elimination of double taxation.  "This new system is a big improvement. It will encourage investment by creating a more favourable tax environment and reducing costs for businesses", said Toomas Tõniste, minister for finance of Estonia, which currently holds the Council presidency.  The Council adopted...

Read more